Trent Ltd (NSE:TRENT) reported standalone revenue from operations of Rs. 4,937 Cr in Q4FY26, compared to Rs. 4,106 Cr in Q4FY25, marking a 20% year-on-year increase. The growth was primarily driven by merchandise sales, which grew 21% during the quarter, excluding other operating income.

For the full financial year FY26, the company posted revenue of Rs. 19,701 Cr, up from Rs. 16,668 Cr in FY25, translating into an 18% YoY growth. Merchandise sales for the year increased by 19%, indicating consistent traction across retail segments.

Store Network Expansion Across Formats

As of March 31, 2026, Trent’s total store count stood at 1,286 outlets. The portfolio includes 300 Westside stores, 963 Zudio stores (including 6 in the UAE), and 23 stores under other lifestyle concepts.

Expansion during the period remained focused on scaling value fashion offerings:

• Westside added 22 stores in Q4FY26 and 52 stores during FY26.
• Zudio recorded 109 net additions in Q4FY26 and 198 stores over the full year.

The pace of store additions highlights continued network expansion, particularly in the Zudio format.

Stock Performance

Trent Ltd (NSE:TRENT) stock traded at ₹3,859.60 on April 7, 2026, registering a modest intraday gain of 0.68%. The stock has delivered a mixed performance across different timeframes, with strong short-term momentum reflected in a 17.02% gain over the past week and a 3.60% rise over one month. However, the broader trend remains weak, as the stock is down 10.25% on a year-to-date basis and has declined 18.65% over the past year.

Despite this recent underperformance, the long-term trajectory remains robust, with significant gains of 182.08% over three years and an impressive 434.15% over five years. The stock is currently trading below its 52-week high of ₹6,261.00, while remaining above its 52-week low of ₹3,275.50, indicating some recovery from lower levels but still well off peak valuations.

Operational and Market Context

Revenue growth aligned with increased store presence and merchandise sales expansion. The company continues to scale its retail footprint across multiple formats, with a higher contribution from value-driven segments like Zudio.

Market indicators show elevated valuation metrics, with the price-to-earnings ratio remaining above 50 across the last four trailing quarters.

Summary

Trent Ltd (NSE:TRENT) reported 20% YoY revenue growth in Q4FY26 and 18% for FY26, supported by merchandise sales. Store expansion remained active, with total outlets reaching 1,286, led by Zudio additions. Stock performance showed short-term gains but remains below yearly highs. Elevated valuation levels and expansion-related risks remain key factors for monitoring going forward.