Trent Limited, a retail arm of the Tata Group, announced its audited financial results for the quarter (Q4 FY25) and full year ended 31st March 2025. The company operates fashion retail chains Westside and Zudio, alongside its Star hypermarket business, and reported consolidated revenue growth of 38% year-on-year (YoY) and profit before tax (PBT) growth of 56% for FY25.
Consolidated Financial Results
Full Year FY25 (Consolidated)
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Revenue (including GST): Rs. 18,141 crore, up 38% YoY from Rs. 13,147 crore in FY24.
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PBT (before exceptional items): Rs. 2,030 crore, a 56% YoY increase from Rs. 1,301 crore in FY24.
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Net Profit: Rs. 1,534 crore, up 4% YoY from Rs. 1,477 crore in FY24, affected by the absence of an exceptional gain from FY24.
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Revenue CAGR (FY20-FY25): 39%.
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Operating EBIT Margin: 9.3% in Q4 FY25, compared to 8.3% in Q4 FY24.
Q4 FY25 (Consolidated)
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Revenue (including GST): Rs. 4,455 crore, up 27% YoY from Rs. 3,506 crore in Q4 FY24, but down 4% quarter-on-quarter (QoQ) from Rs. 4,656 crore in Q3 FY25 due to seasonality.
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PBT (before exceptional items): Rs. 416 crore, up 40% YoY from Rs. 297 crore in Q4 FY24, but down 33% QoQ from Rs. 620 crore in Q3 FY25.
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Net Profit: Rs. 312 crore, down 56% YoY from Rs. 712 crore in Q4 FY24 (which included an exceptional gain of Rs. 576 crore from lease reassessment under IND AS 116) and down 37% QoQ from Rs. 497 crore in Q3 FY25.
Operational Details
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Store Portfolio: 1,043 stores, including 248 Westside, 765 Zudio (2 in the UAE), and 30 other lifestyle concept stores. In FY25, 40 Westside and 244 Zudio stores were added, with 24 stores each consolidated.
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Geographic Expansion: Presence in 242 cities, with 64 new cities/towns added, focusing on Tier 2 and Tier 3 markets.
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Online Sales: Westside’s online revenues increased 43% YoY, contributing over 6% to Westside’s total revenues.
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Star Hypermarket: 78 stores (12 added in FY25), with 17% revenue growth in Q4 FY25, driven by own brands, staples, and fresh offerings.
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Emerging Categories: Beauty, personal care, innerwear, and footwear accounted for over 20% of revenues.
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Supply Chain: RFID-based merchandise tracking supported over 40% volume growth in FY25.
Financial Position
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Total Assets (Consolidated): Rs. 10,119 crore as of 31st March 2025, compared to Rs. 7,824 crore in FY24, due to increased property, plant, equipment, and inventories.
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Equity: Rs. 5,914 crore, with other equity at Rs. 5,879 crore, up 33% from FY24.
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Dividend: Final dividend of Rs. 5 per equity share (500%), aggregating Rs. 178 crore, payable on or after 7th July 2025, subject to shareholder approval.
Chairman’s Statement
Mr. Noel N Tata, Chairman, stated, “In FY25, we expanded our reach. Zudio revenues exceeded a billion dollars, and both Westside and Zudio have scale and consumer awareness. The Indian consumer seeks aspirational products at accessible prices, and our store density strategy supports this demand.”
Strategic Notes
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Micro-Market Focus: Revenue growth in comparative micro-markets showed double-digit growth in FY25.
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Zudio’s Scale: Revenues surpassed $1 billion, complementing Westside’s positioning.
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Star Business: Own brands contributed over 70% to revenues, applying Trent’s retail approach in the food and grocery segment.