Trent announces Q2 and H1FY27 results Revenue growth of 23% and operating profit growth of 37%

Mumbai, : The Company announced its financial results for the quarter ended September 30, 2026 (standalone and consolidated).

Standalone Results

Rs Cr	Q2FY27	YoYGrowth	H1FY27	YoY Growth
Revenue from operations#	5,788	23%	11,454	21%
Operating EBITDA	791	37%	1638	37%
PAT	490	9%	1021	17%

#Revenue from sale of merchandise (excl. other operating income) grew by 23% and 21% during the quarter and the half year ended September 2026 respectively.

• Other income for the previous year includes pre-tax profit on sale of assets of Rs. 96 Cr in Q2FY26 and Rs. 109 Cr in H1FY26. The corresponding profit on sale of assets in Q2 and H1FY27 is not material. This being a non-operating profit element, nevertheless, reflects in the PAT numbers of Q2 and H1FY26.
• During the quarter we opened the 1000th Zudio Store. We now operate a significant portfolio of over 1300 “large-box” fashion stores, with presence across 339 cities (including 3 in the UAE). In Q2FY27 we opened 10 Westside and 19 Zudio stores and consolidated 2 Zudio stores.  As of 30th September 2026, our store portfolio included 311 Westside, 999 Zudio (including 7 stores in the UAE) and 32 stores across other lifestyle concepts and we operated with a footprint of over 18.5 million sqft. across our fashion brands.
• We believe given our approach with respect to merchandise sourcing, price architecture, distribution and disciplines around inventory provisioning, the full year results are more representative of the performance of the business. The gross margin profile of Westside and Zudio remains stable. Operating EBIT margin for Q2 FY27 was 11.6% (10.5% for Q2FY26).
• The emerging categories, including beauty & personal care, innerwear and footwear contributed over 21% of our revenues. Westside online together with our proposition on the Tata Neu platform continues to witness traction and grow profitably. In H1FY27, online revenues grew by 20% and contributed to over 6% of Westside revenues.

Consolidated Results

Rs Cr	Q2FY27	YoYGrowth	H1FY27	YoYGrowth
Revenue from operations	5,873	22%	11,628	20%
Operating EBITDA	785	37%	1,633	35%
PAT	468	25%	986	24%

• Given the accounting standards, our consolidated revenues do not include revenues of the Trent Hypermarket business. However, the reported results include the proportionate share of profitability of this venture and is accounted based on the equity method.
• Star, our food and grocery business, has been witnessing encouraging consumer traction notwithstanding the evolving competitive landscape. Star revenues grew by over 20% during the quarter. The sales mix continues to favour own brands and increasingly delivers a viable economic profile at the store level. We added 1 new store during the quarter across the Star portfolio taking the overall store count to 87 across 13 cities. We remain excited about the potential of this business.

Chairman’s Message

Speaking on the performance, Mr. Noel N Tata, Chairman, Trent Limited said, “Our brands experienced solid traction during the quarter. It was encouraging to witness a more robust consumer sentiment despite the relatively inflationary backdrop.

We are increasingly expanding our presence across diverse markets, including in many Tier 2 and Tier 3 locations. The compelling reception we are witnessing gives us the conviction to double down into more hinterlands.

In our Star business, we continue to apply Trent’s playbook and the contribution of our own brands and products is now trending at over 74% of revenues. Star’s recent performance reinforces our confidence in the business model and its growth potential. As we look ahead, we will continue to invest in expanding our footprint, with a focus on building scale and strengthening our position across markets. The food and grocery opportunity is significant, and the Star model is differentiated.

As I conclude my tenure as Chairman of Trent, I could not be more delighted at the enormous strides the Company has made in recent years. It has been a privilege to witness Trent’s transformation from a fledgling entrant in the fashion sector into one of its leading players, distinguished by strong growth, profitability and capital efficiency. Yet, I firmly believe that Trent’s best days lie ahead. I look forward to seeing the Company further strengthen its position across the lifestyle segments in which it operates, establish a significant presence in the food and grocery sector, and emerge as a meaningful exporter, carrying the flag of Indian brands into markets beyond our shores.”