Trent - Bigger, Bolder, Better: Centrum Broking Initiates Coverage

Trent - Bigger, Bolder, Better: Centrum Broking Initiates Coverage

A Trent store. (Source: Company's official FB page)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Centrum Broking Report

Trent Ltd., one of the most successful retailers in India, has built durable moats by significantly scaling up its retail footprint, establishing itself as a powerful design house and expanding under different retail formats.

Trent’s standalone (Westside and Zudio) sales and Ebitda have grown at compound annual growth rate of 17% and 33% over FY13-22 with Ebitda margin improvement from low single digits to 16.3% in FY22.

We expect its standalone sales/Ebitda/profit after tax to grow at CAGR of 25/23/36% respectively over FY20-24E.

Click on the attachment to read the full report:

Centrum Trent Ltd - Initiating Coverage.pdf
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