TRENT LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,305 INR | -0.44% |
|
+3.67% | +40.86% |
| Apr. 26 | Tata's Trent to outshine Indian peers as low-priced apparel attract young buyers | RE |
| Apr. 17 | The Tata Group Reportedly in Talks to Buy Stake in Fabindia?s Apparel Line | CI |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 119,584 | 170,350 | 267,149 | 453,744 | 488,831 | 1,530,285 | - | - |
| Enterprise Value (EV) 1 | 122,197 | 164,553 | 259,073 | 427,397 | 487,490 | 1,527,533 | 1,522,189 | 1,511,382 |
| P/E ratio | 123 x | 136 x | -183 x | 428 x | 110 x | 156 x | 111 x | 80.7 x |
| Yield | 0.36% | 0.21% | 0.08% | 0.13% | 0.16% | 0.07% | 0.07% | 0.08% |
| Capitalization / Revenue | 4.55 x | 4.89 x | 10.3 x | 10.1 x | 5.93 x | 12.3 x | 9 x | 6.96 x |
| EV / Revenue | 4.65 x | 4.72 x | 9.99 x | 9.5 x | 5.91 x | 12.2 x | 8.96 x | 6.88 x |
| EV / EBITDA | 53.7 x | 30.3 x | 151 x | 74.5 x | 45.4 x | 80.5 x | 58.6 x | 44.6 x |
| EV / FCF | -67.3 x | 82.5 x | 99.5 x | -201 x | 533 x | 131 x | 132 x | 75.4 x |
| FCF Yield | -1.49% | 1.21% | 1.01% | -0.5% | 0.19% | 0.76% | 0.76% | 1.33% |
| Price to Book | 7.26 x | 7.13 x | 11.5 x | 19.2 x | 18.8 x | 42.9 x | 31.5 x | 22.8 x |
| Nbr of stocks (in thousands) | 332,317 | 355,487 | 355,487 | 355,487 | 355,487 | 355,487 | - | - |
| Reference price 2 | 359.8 | 479.2 | 751.5 | 1,276 | 1,375 | 4,305 | 4,305 | 4,305 |
| Announcement Date | 4/29/19 | 5/22/20 | 4/30/21 | 4/27/22 | 4/27/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 26,302 | 34,860 | 25,930 | 44,980 | 82,420 | 124,704 | 169,967 | 219,740 |
| EBITDA 1 | 2,277 | 5,440 | 1,719 | 5,739 | 10,736 | 18,982 | 25,985 | 33,913 |
| EBIT 1 | 1,760 | 2,967 | -854 | 2,630 | 5,800 | 12,685 | 17,919 | 23,517 |
| Operating Margin | 6.69% | 8.51% | -3.29% | 5.85% | 7.04% | 10.17% | 10.54% | 10.7% |
| Earnings before Tax (EBT) 1 | 1,685 | 1,954 | -2,048 | 1,061 | 5,521 | 11,931 | 17,199 | 24,079 |
| Net income 1 | 969.6 | 1,228 | -1,811 | 346 | 3,937 | 9,777 | 13,537 | 18,458 |
| Net margin | 3.69% | 3.52% | -6.99% | 0.77% | 4.78% | 7.84% | 7.96% | 8.4% |
| EPS 2 | 2.920 | 3.530 | -4.110 | 2.980 | 12.51 | 27.64 | 38.81 | 53.35 |
| Free Cash Flow 1 | -1,816 | 1,994 | 2,605 | -2,124 | 914.8 | 11,635 | 11,504 | 20,052 |
| FCF margin | -6.9% | 5.72% | 10.05% | -4.72% | 1.11% | 9.33% | 6.77% | 9.13% |
| FCF Conversion (EBITDA) | - | 36.66% | 151.53% | - | 8.52% | 61.3% | 44.27% | 59.13% |
| FCF Conversion (Net income) | - | 162.4% | - | - | 23.24% | 119.01% | 84.98% | 108.64% |
| Dividend per Share 2 | 1.300 | 1.000 | 0.6000 | 1.700 | 2.200 | 2.958 | 3.156 | 3.632 |
| Announcement Date | 4/29/19 | 5/22/20 | 4/30/21 | 4/27/22 | 4/27/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 9,055 | 4,920 | 11,781 | 14,991 | 13,289 | 18,032 | 19,527 | 23,034 | 21,828 | 26,284 | 26,934 | 32,612 | 32,008 |
| EBITDA 1 | - | -431.2 | 2,097 | - | 1,346 | - | 2,558 | 3,232 | 2,030 | 3,674 | 3,290 | 5,274 | 4,310 |
| EBIT 1 | - | - | - | - | - | - | - | - | 664.5 | 2,260 | 2,034 | 4,287 | - |
| Operating Margin | - | - | - | - | - | - | - | - | 3.04% | 8.6% | 7.55% | 13.15% | - |
| Earnings before Tax (EBT) 1 | - | - | - | - | 83.3 | - | - | - | 638.3 | 2,123 | 1,625 | 3,550 | - |
| Net income 1 | - | - | - | - | - | - | 930.2 | - | 450.1 | 1,667 | 1,382 | 2,642 | 3,127 |
| Net margin | - | - | - | - | - | - | 4.76% | - | 2.06% | 6.34% | 5.13% | 8.1% | 9.77% |
| EPS 2 | - | - | - | - | - | - | 2.620 | - | 1.520 | 2.430 | 4.000 | 7.793 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 4/30/21 | 8/10/21 | 11/2/21 | 2/10/22 | 4/27/22 | 8/11/22 | 11/10/22 | 2/8/23 | 4/27/23 | 8/9/23 | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 2,612 | - | - | - | - | - | - | - |
| Net Cash position 1 | - | 5,796 | 8,076 | 26,347 | 1,341 | 2,752 | 8,095 | 18,902 |
| Leverage (Debt/EBITDA) | 1.147 x | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -1,816 | 1,994 | 2,605 | -2,124 | 915 | 11,635 | 11,504 | 20,052 |
| ROE (net income / shareholders' equity) | 5.98% | 6.09% | -7.71% | 4.53% | 15.9% | 32.1% | 32.7% | 33.6% |
| ROA (Net income/ Total Assets) | - | - | - | - | 4.98% | 25% | 24.2% | 26.1% |
| Assets 1 | - | - | - | - | 79,038 | 39,187 | 55,938 | 70,718 |
| Book Value Per Share 2 | 49.50 | 67.20 | 65.10 | 66.50 | 73.00 | 100.0 | 137.0 | 189.0 |
| Cash Flow per Share 2 | - | - | - | - | 18.90 | 13.60 | 31.90 | 48.70 |
| Capex 1 | 1,953 | 1,559 | 1,134 | 2,709 | 5,034 | 5,597 | 6,655 | 5,226 |
| Capex / Sales | 7.43% | 4.47% | 4.37% | 6.02% | 6.11% | 4.49% | 3.92% | 2.38% |
| Announcement Date | 4/29/19 | 5/22/20 | 4/30/21 | 4/27/22 | 4/27/23 | - | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
4,305
INR
Average target price
3,822
INR
Spread / Average Target
-11.21%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +40.86% | 18.35B | |
| +11.23% | 7.29B | |
| +15.83% | 7.32B | |
| +13.19% | 6.59B | |
| -2.96% | 5.84B | |
| +45.96% | 5.39B | |
| -8.40% | 5.07B | |
| +31.51% | 5.08B | |
| +6.90% | 3.65B | |
| -10.80% | 3.41B |
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