AI-generated · cited to primary sources · not investment advice
Trent (500251) Jun 2025 Filing Analysis
Where does growth come from?
Operating returns and earnings have improved consistently over the available periods. Operating EBIT increased to Rs. 1,822 crore in FY25, while operating ROCE rose from negative levels in FY21 to 37.2% in FY25 and operating ROE to 30.6%. The improvement is substantial and still moving upward, but the presentation does not provide quarterly margin data or evidence that the rate of improvement itself is increasing. (1 steady across 1 signal)
“Operating EBIT: Rs. 1,822 crore in FY25. PBT rose from negative Rs. 66 crore in FY21 to Rs. 336 crore in FY22, Rs. 711 crore in FY23, Rs. 1,330 crore in FY24 and Rs. 2,077 crore in FY25. Operating ROCE rose from -0.3% to 37.2%; Operating ROE rose from -0.5% to 30.6%.”
Emerging categories show rapid and sustained customer adoption. Units sold grew from FY21 to FY25 at 149% CAGR for beauty, 92% CAGR for innerwear and 73% CAGR for footwear. Beauty reached 81 million units, innerwear 50 million and footwear 27 million in FY25. Growth remains very strong, although the latest year-on-year growth rates are not separately disclosed. (1 steady, 1 accelerating, 2 new trend across 4 signals)
“Beauty: 149% CAGR (FY21 to FY25), 2 million units in FY21 and 81 million in FY25. Innerwear: 92% CAGR (FY21 to FY25), 4 million units in FY21 and 50 million in FY25. Footwear: 73% CAGR (FY21 to FY25), 3 million units in FY21 and 27 million in FY25.”
See the full cited Future Growth analysis of Trent
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