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Technical Report on Trent Ltd by Shyam Advisory

February 28, 2022

Trent Ltd is engaged in retailing of apparels, footwear, accessories, toys, games,
food, grocery & non food products through various of its retail formats/ concepts.
Retail Format Stores
Presently, the company operates ~400 stores under various retail concepts:-
Westside (174 stores) -It offers branded fashion apparel, footwear and accessories
for women, men and children, along with a wide range of home furnishings &
decor.It follows an “own-brand-led” business model which allows active control
across the value chain with respect to key aspects of the business.It is Trent’s
flagship format and accounted for ~75% of total revenues of the company in
FY21.Its brands include Nuon, Studiofit, Wes, E.t.a., Lov, Zuba, wardrobe,
wunderlove, utsa, soleplay, hop, Luna Blu, etc.
Zudio (133 stores) -It is the company’s value fashion concept and offers fashion at
competitive prices for women, men and children. It also has a range of 100%
exclusive retail brand portfolio like ‘Westside’ concept.Majority of Zudio stores are
present in the states of Gujarat, Karnataka and Maharashtra.
Star Market (60 stores) -It is a hypermarket and supermarket store chain and
offers various products including staples, beverages, health & beauty products and
fresh offerings such as vegetables, fruits, dairy and non-vegetarian products.The
stores are primarily operated by Trent Hypermarket Pvt Ltd which is a 50:50
JV between Trent and Tesco Plc UK.The stores also sells exclusive branded
products such as cleaning-aids, home care products, packaged foods, beverages and
personal care products.
Zara & Massima Dutti (24 stores) -The company has 2 separate associations with
Inditex Group wherein it holds 49% stake. One entity is engaged in operating 21
stores of Zara and other entity is engaged in operating 3 stores of Massimo Dutti
in India. The business of these entities is essentially limited to distribution of Zara
and Massimo Dutti products in India.The entities recorded revenues of ~1,200
crores in FY21.
Other Concepts (19 stores) -The other concepts of the co. with a smaller footprint
includes Booker Wholesale, Value Mandi,Landmark[ and Utsa.
Part of Tata Group
It is a part of 100 Billion USD Tata Group which compromises of 100 operating
companies in various business sectors and has operations in more than 100
countries.Trent is headed by Mr. Noel N. Tata.

TRENT - Shyam Advisory

Technical View: Trent, Structured Formation on daily chart looks positive. Its
been observed given chart stock tried multiple time to bridge major hurdle 1190.
RSI and MACD supporting uptrend, Stock have tried multiple time to cross 1090,
Any move above 1090 can stock reach to 1180.
Volume analysis: – 1 Day Delivery volume fell by -97.86% % % over 5 day average,
However; 1 Month: Delivery volume increase by 3.37% , Hence; We recommend
BUY signal for this share . Buying can only possible above 1090 for Target 1126,
Target 1180, Use Strict stop loss 1050.
Moving Averages: -Trent Ltd. is trading higher than 5 day, 20 day and 200 day
moving averages but lower than 50 day and 100 day moving averages.
5 Day 1,049.43 50 Day 1,073.06 200 Day 989.29
20 Day 1,056.00 100 Day 1,075.34

Shareholding pattern:-

TRENT 1 - Shyam Advisory
The Promoter holdings 37.01 %. No change in Promoter holdings, No change in
Promoter pledged shares.
Key Ratio:-

TRENT 2 - Shyam Advisory