Trent Ltd reported a robust Q2 FY27, with standalone revenue jumping 23% to Rs 5,788 crore. The company hit a major milestone, reaching 1,000 Zudio stores, while consolidated EBITDA grew by 37%. Investors are cheering the steady scaling of its lifestyle portfolio and the improving economic profile of its Star grocery business.
Trent Ltd Delivers Strong Q2 FY27 Growth
Standalone revenue grew 23% to Rs 5,788 crore, while consolidated operating EBITDA surged 37%.
Reader Takeaway: Trent scales its Zudio brand to 1,000 stores while maintaining strong margin expansion despite inflationary market pressures.
What just happened
Trent Ltd posted strong financial results for the quarter ended September 30, 2026. The company saw a 23% increase in standalone revenue to Rs 5,788 crore. Profitability metrics were equally impressive, with operating EBITDA climbing 37% on both a standalone and consolidated basis. The standalone operating EBIT margin improved to 11.6%, up from 10.5% in the same quarter last year.
Why this matters
The results highlight Trent's ability to maintain high growth while rapidly expanding its physical retail footprint. The company achieved a key milestone by opening its 1,000th Zudio store. With over 1,300 stores across 339 cities, Trent continues to command a significant presence in India's retail landscape, particularly with its "large-box" store strategy.
The backstory
Trent has been aggressively scaling its Zudio and Westside brands. The company currently operates over 18.5 million square feet of retail space. Emerging categories like beauty, personal care, innerwear, and footwear now account for more than 21% of total revenue. Online sales also grew by 20% during the first half of the fiscal year.
Star Business Update
The Star food and grocery business continues to gain traction, reporting revenue growth of over 20%. The chain expanded to 87 stores across 13 cities. Significantly, own-brand products now drive over 74% of Star's total revenue, signaling a successful push toward higher-margin private labels.
Risks to watch
Management noted that Q2 FY26 included a one-time pre-tax profit of Rs 96 crore from asset sales, which is not present in the current quarter's figures. Investors should track whether the company can sustain its current pace of store rollouts without compromising margins amidst sustained inflationary conditions.
What to track next
The focus remains on the integration of the new store additions and the profitability trajectory of the Star business. Further penetration into Tier 2 and Tier 3 markets, as highlighted by outgoing Chairman Noel N. Tata, will be key to long-term growth.