On consolidated basis
Quarter ended March 2024 compared
with Quarter ended March 2023.
Net sales (including other operating income) of Trent has increased 51.08% to
Rs 3297.7 crore.
Operating profit margin has jumped
from 9.30% to 14.24%, leading to 131.33% rise in operating profit to Rs 469.64
crore. Purchase of finished goods cost fell from 59.34% to 58.79%.
Employee cost increased from 8.58% to 9.42%. Other
expenses fell from 22.27% to 18.45%. Selling and administration
expenses rose from 7.48% to 7.93%.
Other income fell 9.89% to Rs 76.87
crore. PBIDT rose 89.54% to Rs 546.51 crore. Provision
for interest fell 64.47% to Rs 32.54 crore. Loan funds declined from
Rs 4,464.14 crore as of 31 March 2023 to Rs 1,752.99 crore as of 31 March
2024. Inventories rose to Rs 1,582.73 crore as of 31 March 2024 from
Rs 1,361.16 crore as of 31 March 2023. Sundry debtors were higher at
Rs 81.74 crore as of 31 March 2024 compared to Rs 34.39 crore as of 31 March
2023. Cash and bank balance rose to Rs 297.56 crore as of 31 March
2024 from Rs 86.30 crore as of 31 March 2023. Investments rose to Rs
1,416.03 crore as of 31 March 2024 from Rs 1,109.87 crore as of 31 March 2023
.
PBDT rose 161.24% to Rs 513.97
crore. Provision for depreciation rose 55.92% to Rs 212.94
crore. Fixed assets declined from Rs 4,601.48 crore as of 31 March
2023 to Rs 2,646.51 crore as of 31 March 2024. Intangible assets
stood at Rs 27.19 crore.
Profit before tax grew 400.30% to Rs
301.03 crore. Share of profit/loss was 535.30% higher at Rs 41.93
crore. Provision for tax was expense of Rs 206.94 crore, compared to
Rs 18.82 crore. Effective tax rate was 22.52% compared to 29.51%.
Net profit attributable to owners of
the company increased 1,201.72% to Rs 704.23 crore.
Equity capital stood at Rs 35.55
crore as of 31 March 2024 to Rs 35.55 crore as of 31 March 2023. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 37.01% as of 31
March 2024 ,compared to 37.01% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Trent has increased 50.15% to
Rs 12375.11 crore.
Operating profit margin has jumped
from 13.03% to 15.53%, leading to 79.03% rise in operating profit to Rs
1,922.13 crore. Purchase of finished goods cost fell from 59.67% to
56.81%. Employee cost increased from 7.50% to 8.27%.
Other expenses fell from 20.54% to 19.60%. Selling and
administration expenses rose from 7.83% to 8.69%.
Other income rose 10.87% to Rs
289.27 crore. PBIDT rose 65.70% to Rs 2211.4
crore. Provision for interest fell 13.57% to Rs 319.1
crore. Loan funds declined from Rs 4,464.14 crore as of 31 March
2023 to Rs 1,752.99 crore as of 31 March 2024. Inventories rose to
Rs 1,582.73 crore as of 31 March 2024 from Rs 1,361.16 crore as of 31 March
2023. Sundry debtors were higher at Rs 81.74 crore as of 31 March
2024 compared to Rs 34.39 crore as of 31 March 2023. Cash and bank
balance rose to Rs 297.56 crore as of 31 March 2024 from Rs 86.30 crore as of
31 March 2023. Investments rose to Rs 1,416.03 crore as of 31 March
2024 from Rs 1,109.87 crore as of 31 March 2023 .
PBDT rose 96.02% to Rs 1892.3
crore. Provision for depreciation rose 35.94% to Rs 671.11
crore. Fixed assets declined from Rs 4,601.48 crore as of 31 March
2023 to Rs 2,646.51 crore as of 31 March 2024. Intangible assets
stood at Rs 27.19 crore.
Profit before tax grew 158.91% to Rs
1,221.19 crore. Share of profit/loss was 48.15% higher at Rs 123.57
crore. Provision for tax was expense of Rs 443.37 crore, compared to
Rs 158.44 crore. Effective tax rate was 23.08% compared to 28.70%.
Minority interest increased 81.69%
to Rs -9.34 crore. Net profit attributable to owners of the company
increased 234.39% to Rs 1,486.80 crore.
Equity capital stood at Rs 35.55
crore as of 31 March 2024 to Rs 35.55 crore as of 31 March 2023. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 37.01% as of 31
March 2024 ,compared to 37.01% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 1,348.98 crore for year ended March 2024 from Rs 594.88 crore
for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 736.95 crore, compared to Rs
503.40 crore during the year ended March 2023.
Others:
As of 31 March 2024, the company’s
portfolio included 232 Westside, 545 Zudio and 34 stores across other lifestyle
concepts. During the quarter, the company added 12 Westside and 86 Zudio stores
across 65 cities including 25 new cities.
In Q4FY24, the company’s fashion
concepts registered encouraging LFL growth of over 10% vis-à-vis Q4FY23.
Emerging categories including beauty
and personal care, innerwear and footwear continued to gain traction with
customers. Emerging categories now contribute to over 20% of the company’s
standalone revenues.
Westside.com together with the
company’s proposition on the Tata Neu platform continues to grow profitably and
this combined online presence contributes to over 6% of Westside revenues.
The Star business, consisting of 66
stores, continued to witness improved customer traction with growing sales
densities. This business registered operating revenue growth of 30% in Q4FY24
vis-à-vis the corresponding previous period.
Dividend:
The Board of Directors of the Company have recommended a Dividend of 320% i.e.,
Rs. 3.20/- per Equity Share of Re. 1/- each
Management Commentary
Speaking on the performance, Mr.
Noel N Tata, Chairman, Trent Limited said, "In a competitive market, we continue to
experience resonance and customer traction for our lifestyle offerings across
brands, concepts, categories and channels. The growing of our offerings,
resilience of our business model choices and the strength of our platform are reflected
in our business results.
We will continue to expand and
deepen store presence with the aim of being ever closer and convenient to
customers reinforcing our brand promise.
We have applied Trent’s playbook to
the Star business and are witnessing strong customer traction. This reinforces
our conviction to build out this growth engine in the food, grocery, and
general merchandising space. The success of own branded products also augurs
well for the Star business. We are confident that this business is well poised
to shift gears and deliver substantial value to customers and shareholders
going forward.
We remain excited about the huge
consumer market opportunity that lies ahead. We are still in the initial laps
of our journey to address this opportunity.”
| Trent : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 3,297.70 | 2,182.75 | 51.08 | 12,375.11 | 8,242.02 | 50.15 | | OPM (%) | 14.24 | 9.30 | 494 bps | 15.53 | 13.03 | 251 bps | | OP | 469.64 | 203.02 | 131.33 | 1,922.13 | 1,073.65 | 79.03 | | Other Inc. | 76.87 | 85.31 | -9.89 | 289.27 | 260.92 | 10.87 | | PBIDT | 546.51 | 288.33 | 89.54 | 2,211.40 | 1,334.57 | 65.70 | | Interest | 32.54 | 91.59 | -64.47 | 319.10 | 369.22 | -13.57 | | PBDT | 513.97 | 196.74 | 161.24 | 1,892.30 | 965.35 | 96.02 | | Depreciation | 212.94 | 136.57 | 55.92 | 671.11 | 493.69 | 35.94 | | PBT | 301.03 | 60.17 | 400.30 | 1221.19 | 471.66 | 158.91 | | Share of Profit/(Loss) from Associates | 41.93 | 6.6 | 535.30 | 123.57 | 83.41 | 48.15 | | PBT before EO | 342.96 | 66.77 | 413.64 | 1344.76 | 555.07 | 142.27 | | EO Income | 576.07 | -3 | LP | 576.07 | -3 | LP | | PBT after EO | 919.03 | 63.77 | 1,341.16 | 1920.83 | 552.07 | 247.93 | | Taxation | 206.94 | 18.82 | 999.57 | 443.37 | 158.44 | 179.83 | | PAT | 712.09 | 44.95 | 1,484.18 | 1477.46 | 393.63 | 275.34 | | Minority Interest (MI) | 7.86 | -9.15 | PL | -9.34 | -51 | 81.69 | | Net profit | 704.23 | 54.1 | 1,201.72 | 1486.8 | 444.63 | 234.39 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 704.23 | 54.1 | 1,201.72 | 1486.8 | 444.63 | 234.39 | | EPS (Rs)* | 7.57 | 1.59 | 375.77 | 29.53 | 12.57 | 134.90 | | | * EPS is on current equity of Rs 35.55 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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