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Systematix Report
Systematix has revised Trent Ltd.'s target price to Rs 4,848 from Rs 4,561, following a better-than-expected Q4 FY26 performance. The brokerage has maintained a ‘Hold' rating on the stock.
The Tata Group retail arm reported strong operating performance in Q4, with revenue, Ebitda, and profit growing 20.2%, 40%, and 30% YoY, respectively.
Systematix said margin expansion was driven by cost control measures and improved sourcing, while aggressive store expansion—especially in Tier II and III cities—continues to support growth.
Looking ahead, the brokerage expects Trent to deliver 18–20% revenue growth over the medium term, led by continued store additions and steady demand trends. However, it flagged that most cost efficiencies have already been realised, which could limit further margin upside.
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