Shares of Trent slipped 1.79% to ₹2,861.70 on Thursday, as investors digested Q2 results that beat earnings estimates but fell short on PAT.
Consolidated EBITDA jumped 20% YoY to ₹1,078 crore, eclipsing the ₹896 crore consensus and expanding the margin to 18.4% from 15.7%.
Revenue grew 22% YoY, driven by a 21% share from emerging categories and a 20% lift in the Star business, while fashion like‑for‑like remained in the mid‑single digits.
Nuvama kept its Buy rating but trimmed the target to ₹3,466 from ₹3,591, citing a 150‑basis‑point EBITDA margin gain and a 121‑basis‑point gross margin lift. It also lifted FY27 revenue and EBITDA forecasts by 1.4% and 1.9%, respectively, while nudging FY28 estimates down slightly.
The board announced the appointment of Bahram Vakil as chairman, succeeding Noel N. Tata effective November 11, 2026. Investors will now watch how Trent navigates supply‑chain challenges and the next quarterly cycle, with earnings expected on November 30.