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Trent

NSEI:TRENT
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TRENT
NSEI
₹128B
Market Cap
  1. Home
  2. IN
  3. Retail
Company description

Trent Limited, together with its subsidiaries, operates a chain of retail stores primarily under the Westside brand in India. The last earnings update was 256 days ago. More info.


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TRENT Share Price and Events
7 Day Returns
12.7%
NSEI:TRENT
2.7%
IN Multiline Retail
2.6%
IN Market
1 Year Returns
10.3%
NSEI:TRENT
-7.7%
IN Multiline Retail
0.8%
IN Market
TRENT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Trent (TRENT) 12.7% 15.1% 10% 10.3% 149.5% 266%
IN Multiline Retail 2.7% 5.4% -8.6% -7.7% 26.9% -2.2%
IN Market 2.6% 7.7% 2.5% 0.8% 45.6% 83.2%
1 Year Return vs Industry and Market
  • TRENT outperformed the Multiline Retail industry which returned -7.7% over the past year.
  • TRENT outperformed the Market in India which returned 0.8% over the past year.
Price Volatility
TRENT
Industry
5yr Volatility vs Market

TRENT Value

 Is Trent undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Trent to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Trent.

NSEI:TRENT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.4%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:TRENT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Multiline Retail Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.528 (1 + (1- 35%) (3.06%))
0.691
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.8 * 8.6%)
14.43%

Discounted Cash Flow Calculation for NSEI:TRENT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Trent is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:TRENT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 14.43%)
2019 556.33 Analyst x3 486.18
2020 1,353.00 Analyst x3 1,033.28
2021 1,612.00 Analyst x3 1,075.83
2022 1,845.78 Est @ 14.5% 1,076.52
2023 2,074.96 Est @ 12.42% 1,057.58
2024 2,302.31 Est @ 10.96% 1,025.47
2025 2,531.04 Est @ 9.93% 985.19
2026 2,764.38 Est @ 9.22% 940.33
2027 3,005.40 Est @ 8.72% 893.39
2028 3,256.89 Est @ 8.37% 846.07
Present value of next 10 years cash flows ₹9,419.83
NSEI:TRENT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹3,256.89 × (1 + 7.55%) ÷ (14.43% – 7.55%)
₹50,912.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹50,912.53 ÷ (1 + 14.43%)10
₹13,225.91
NSEI:TRENT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹9,419.83 + ₹13,225.91
₹22,645.75
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹22,645.75 / 332.32
₹68.48
NSEI:TRENT Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:TRENT represents 1.00485x of BSE:500251
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00485x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 68.15 x 1.00485
₹68.48
Value per share (INR) From above. ₹68.48
Current discount Discount to share price of ₹383.40
= -1 x (₹383.40 - ₹68.48) / ₹68.48
-459.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Trent is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Trent's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Trent's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:TRENT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-03-31) in INR ₹2.62
BSE:500251 Share Price ** BSE (2019-03-18) in INR ₹381.55
India Multiline Retail Industry PE Ratio Median Figure of 5 Publicly-Listed Multiline Retail Companies 60.19x
India Market PE Ratio Median Figure of 2,728 Publicly-Listed Companies 16.62x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Trent.

NSEI:TRENT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:500251 Share Price ÷ EPS (both in INR)

= 381.55 ÷ 2.62

145.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Trent is overvalued based on earnings compared to the IN Multiline Retail industry average.
  • Trent is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Trent's expected growth come at a high price?
Raw Data
NSEI:TRENT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 145.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
36.2%per year
India Multiline Retail Industry PEG Ratio Median Figure of 5 Publicly-Listed Multiline Retail Companies 2.66x
India Market PEG Ratio Median Figure of 598 Publicly-Listed Companies 1.27x

*Line of best fit is calculated by linear regression .

NSEI:TRENT PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 145.79x ÷ 36.2%

4.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Trent is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Trent's assets?
Raw Data
NSEI:TRENT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-03-31) in INR ₹48.01
BSE:500251 Share Price * BSE (2019-03-18) in INR ₹381.55
India Multiline Retail Industry PB Ratio Median Figure of 5 Publicly-Listed Multiline Retail Companies 6.53x
India Market PB Ratio Median Figure of 3,613 Publicly-Listed Companies 1.12x
NSEI:TRENT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:500251 Share Price ÷ Book Value per Share (both in INR)

= 381.55 ÷ 48.01

7.95x

* Primary Listing of Trent.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Trent is overvalued based on assets compared to the IN Multiline Retail industry average.
X
Value checks
We assess Trent's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Multiline Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Multiline Retail industry average (and greater than 0)? (1 check)
  5. Trent has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TRENT Future Performance

 How is Trent expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
36.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Trent expected to grow at an attractive rate?
  • Trent's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Trent's earnings growth is expected to exceed the India market average.
  • Trent's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:TRENT Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:TRENT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 36.2%
NSEI:TRENT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 18%
India Multiline Retail Industry Earnings Growth Rate Market Cap Weighted Average 27%
India Multiline Retail Industry Revenue Growth Rate Market Cap Weighted Average 15.7%
India Market Earnings Growth Rate Market Cap Weighted Average 18.5%
India Market Revenue Growth Rate Market Cap Weighted Average 11.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:TRENT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (11 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:TRENT Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 37,460 2,948 2,895 4
2020-03-31 31,834 2,461 2,173 5
2019-03-31 26,503 1,632 1,496 5
NSEI:TRENT Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-03-31 21,575 769 870
2017-03-31 18,124 1,024 586
2016-03-31 15,893 1,094 584

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Trent's earnings are expected to grow significantly at over 20% yearly.
  • Trent's revenue is expected to grow by 18% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:TRENT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (11 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Trent Company Filings, last reported 11 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:TRENT Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 8.70 9.80 7.60 4.00
2020-03-31 6.54 7.70 5.40 5.00
2019-03-31 4.48 5.50 3.40 5.00
NSEI:TRENT Past Financials Data
Date (Data in INR Millions) EPS *
2018-03-31 2.62
2017-03-31 1.76
2016-03-31 1.76

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Trent is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Trent's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Trent has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TRENT Past Performance

  How has Trent performed over the past 5 years?

  • Trent's last earnings update was 256 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Trent's growth in the last year to its industry (Multiline Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Trent has delivered over 20% year on year earnings growth in the past 5 years.
  • Trent's 1-year earnings growth exceeds its 5-year average (48.5% vs 33%)
  • Trent's earnings growth has exceeded the IN Multiline Retail industry average in the past year (48.5% vs 22.8%).
Earnings and Revenue History
Trent's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Trent Company Filings, last reported 11 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:TRENT Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-03-31 21,574.60 869.70 5,447.70
2017-03-31 18,124.40 585.70 4,723.10
2016-03-31 15,893.30 583.90 4,002.40
2015-03-31 22,842.50 1,293.30 3,709.00
2014-03-31 23,329.80 -185.50 5,895.60
2013-03-31 21,320.30 -268.20 5,175.90
2012-03-31 18,448.70 -377.60 5,008.40

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Trent has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Trent used its assets less efficiently than the IN Multiline Retail industry average last year based on Return on Assets.
  • Trent has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Trent's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Multiline Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Trent has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TRENT Health

 How is Trent's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Trent's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Trent is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Trent's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Trent's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Trent Company Filings, last reported 11 months ago.

NSEI:TRENT Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-03-31 15,961.50 3,914.30 728.30
2017-03-31 15,484.40 3,917.40 1,236.60
2016-03-31 14,747.30 3,998.00 468.30
2015-03-31 14,245.50 2,669.40 1,135.30
2014-03-31 9,933.60 3,315.60 1,526.50
2013-03-31 12,410.00 3,355.60 2,646.50
2012-03-31 11,696.60 3,013.30 3,710.40
  • Trent's level of debt (24.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (27.1% vs 24.5% today).
  • Debt is not well covered by operating cash flow (19.6%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 20.9x coverage).
X
Financial health checks
We assess Trent's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Trent has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TRENT Dividends

 What is Trent's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.3%
Current annual income from Trent dividends. Estimated to be 0.44% next year.
If you bought ₹2,000 of Trent shares you are expected to receive ₹6 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Trent's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.5%).
  • Trent's dividend is below the markets top 25% of dividend payers in India (1.88%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:TRENT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Asia Multiline Retail Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 3.5%
India Market Average Dividend Yield Market Cap Weighted Average of 1400 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:TRENT Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 1.75 2.00
2020-03-31 1.87 3.00
2019-03-31 1.40 3.00
NSEI:TRENT Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-05-03 1.150 0.339
2017-07-06 1.000 0.322
2016-03-14 0.900 0.442
2015-07-08 0.750 0.540
2015-05-27 0.750 0.644
2014-07-15 0.700 0.520
2014-05-29 0.700 0.596
2013-07-01 0.700 0.699
2013-05-29 0.700 0.685
2012-07-13 0.650 0.588
2012-05-28 0.650 0.692
2011-05-25 0.750 0.757
2010-07-20 0.650 0.689
2010-06-14 0.650 0.704
2010-06-01 0.650 0.758
2009-06-01 0.550 0.824
2009-03-19 0.700 2.003

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Trent's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.3x coverage).
X
Income/ dividend checks
We assess Trent's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Trent afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Trent has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TRENT Management

 What is the CEO of Trent's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Philip Auld
COMPENSATION ₹61,740,000
TENURE AS CEO 4.3 years
CEO Bio

Mr. Philip N. Auld has been the Managing Director of Trent Limited since November 4, 2014. Mr. Auld served as the Chief Executive Officer of Trent Ltd. from April 2011 to November 3, 2014 and was its Manager until November 3, 2014. Mr. Auld has several years of international retail experience. He serves as a Non-Independent Executive Director of Trent Limited.

CEO Compensation
  • Philip's compensation has been consistent with company performance over the past year.
  • Philip's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Trent management team in years:

4
Average Tenure
64
Average Age
  • The tenure for the Trent management team is about average.
Management Team

Philip Auld

TITLE
MD & Non-Independent Executive Director
COMPENSATION
₹62M
TENURE
4.3 yrs

P. Venkatesalu

TITLE
Executive Director of Finance
COMPENSATION
₹24M
TENURE
3.8 yrs

Mehernosh Surti

TITLE
Company Secretary & Compliance Officer
COMPENSATION
₹6M
TENURE
10 yrs

P. Anand

TITLE
Senior Vice-President of Operations
AGE
64

S. Kamat

TITLE
General Manager of Finance & Accounts
COMPENSATION
₹4M
AGE
64

S. Jain

TITLE
Head of Human Resources
COMPENSATION
₹3M
AGE
70

Rastogi Sanjay

TITLE
Head of Corporate Human Resources
COMPENSATION
₹4M
AGE
51

Solkar Shailesh

TITLE
Head of Merchandising & Supply Chain
COMPENSATION
₹3M

Damani Madhulika

TITLE
Head of Indian Wear
COMPENSATION
₹3M
TENURE
4 yrs

Venu Nair

TITLE
Chief Commercial Officer
TENURE
1.9 yrs
Board of Directors Tenure

Average tenure and age of the Trent board of directors in years:

5.9
Average Tenure
62
Average Age
  • The tenure for the Trent board of directors is about average.
Board of Directors

Noel Tata

TITLE
Chairman
COMPENSATION
₹3M
AGE
62
TENURE
5 yrs

Philip Auld

TITLE
MD & Non-Independent Executive Director
COMPENSATION
₹62M

Simone Tata

TITLE
Chairman Emeritus
COMPENSATION
₹828K

P. Venkatesalu

TITLE
Executive Director of Finance
COMPENSATION
₹24M
TENURE
3.8 yrs

Bahram Vakil

TITLE
Independent Non-Executive Director
COMPENSATION
₹3M
AGE
60
TENURE
6.8 yrs

Harish Bhat

TITLE
Non-Executive Non-Independent Director
COMPENSATION
₹360K
AGE
56
TENURE
4.9 yrs

Abhijit Sen

TITLE
Non-Executive Independent Director
COMPENSATION
₹3M
AGE
68
TENURE
3.8 yrs

Zubin Dubash

TITLE
Independent Non-Executive Director
COMPENSATION
₹2M
AGE
59
TENURE
8.9 yrs

Bhaskar Bhat

TITLE
Non Independent Non-Executive Director
COMPENSATION
₹2M
AGE
64
TENURE
8.5 yrs

Simon Susman

TITLE
Independent Non-Executive Director
COMPENSATION
₹725K
AGE
68
TENURE
7.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Trent's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Trent has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TRENT News

Simply Wall St News

Did Business Growth Power Trent's (NSE:TRENT) Share Price Gain of 236%?

For example, the Trent Limited (NSE:TRENT) share price has soared 236% in the last half decade. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains.

Simply Wall St -

Interested In Trent Limited (NSE:TRENT)? Here's What Its Recent Performance Looks Like

When Trent Limited (NSE:TRENT) announced its most recent earnings (31 March 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Being able to interpret how well Trent has done so far requires weighing its performance against a benchmark, rather than looking at a standalone number at a point in time. … TRENT's trailing twelve-month earnings (from 31 March 2018) of ₹870m has

Simply Wall St -

Is Trent Limited (NSE:TRENT) Better Than Average At Deploying Capital?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

How Financially Strong Is Trent Limited (NSE:TRENT)?

Investors are always looking for growth in small-cap stocks like Trent Limited (NSE:TRENT), with a market cap of ₹117b. … However, an important fact which most ignore is: how financially healthy is the business? … Companies operating in the Multiline Retail industry facing headwinds from current disruption,.

Simply Wall St -

How Many Trent Limited (NSE:TRENT) Shares Do Institutions Own?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … We also tend to see lower insider ownership in companies that were previously publicly owned. … institutions are noticeable on the share registry.

Simply Wall St -

Did Trent Limited (NSE:TRENT) Use Debt To Deliver Its ROE Of 5.5%?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Another way to think of that is that for every ₹1 worth of equity in the company, it was able to earn ₹0.055. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Looking At Trent Limited (NSE:TRENT) From All Angles

Trent Limited (NSE:TRENT) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of TRENT, it

Simply Wall St -

What Should You Know About Trent Limited's (NSE:TRENT) Return On Capital?

and want to begin learning the link between Trent Limited (NSE:TRENT)’s return fundamentals and stock market performance. … As a result, your investment is being put to work to fund operations and if you want to earn an attractive return on your investment, the business needs to be making an adequate amount of money from the funds you provide. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided.

Simply Wall St -

Trent Limited's (NSE:TRENT) Earnings Grew 48%, Did It Beat Long-Term Trend?

Below, I will examine Trent Limited's (NSE:TRENT) track record on a high level, to give you some insight into how the company has been performing against its long term trend and its industry peers. … Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of 33%, indicating the rate at which TRENT is growing has accelerated … What's enabled this growth?

Simply Wall St -

How Much Did Trent Limited's (NSE:TRENT) CEO Pocket Last Year?

Leading Trent Limited (NSE:TRENT) as the CEO, Philip Auld took the company to a valuation of ₹122.69b. … Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … CEOs leading companies of similar size and profitability

Simply Wall St -

TRENT Company Info

Description

Trent Limited, together with its subsidiaries, operates a chain of retail stores primarily under the Westside brand in India. Its Westside departmental stores provide women’s wear, men’s wear, kids’ wear, footwear, lingerie, cosmetics, perfumes and handbags, household furniture, and accessories. The company also operates a hypermarket and convenience stores under the Star brand, which offers staple foods, beverages, health and beauty products, vegetables, fruits, dairy and non-vegetarian products, apparel, and home furnishings. In addition, it operates books and music retail chains under the Landmark name that provides toys, adult and young adult books, sports-related merchandise, tech accessories, and gaming and stationery products. It operates 125 Westside stores and 5 independent Landmark stores, 23 Star Market and 12 Hypermarket stores, and 7 standalone stores and 15 Star stores. The company was incorporated in 1952 and is based in Mumbai, India.

Details
Name: Trent Limited
TRENT
Exchange: NSEI
Founded: 1952
₹127,792,398,521
332,316,730
Website: http://www.mywestside.com
Address: Trent Limited
Trent House, G- Block,
10th Floor, Plot No. C-60,
Mumbai,
Maharashtra, 400051,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 500251 Equity Shares Mumbai Stock Exchange IN INR 05. Jul 1994
NSEI TRENT Equity Shares National Stock Exchange of India IN INR 05. Jul 1994
BSE 600251 INR1 (FOREIGN PREMIUM) Mumbai Stock Exchange IN INR 17. Apr 2017
BSE 500251 INR1 Mumbai Stock Exchange IN INR 18. Mar 2019
Number of employees
Current staff
Staff numbers
8,764
Trent employees.
Industry
Department Stores
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 12:43
End of day share price update: 2019/03/18 00:00
Last estimates confirmation: 2019/02/11
Last earnings filing: 2018/07/05
Last earnings reported: 2018/03/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.