Trent

This Tata group company has been consistently posting a dull set of numbers and it kept to its trend in Q2fy16 too. Recognized as the ‘Westside’ brand, its net sales came in at Rs.376 crore, up 7% (YoY). Raw material cost was down 64% while advertising and promotion costs comprised 3% of the total costs. EBITDA for the quarter 41% at Rs.24 crore. The company’s undoing came in the form of very high interest cost – it rose by a huge 4 times to Rs.8 crore. And in H1FY16, it jumped up from Rs.3.55 crore to over Rs.16 crore. Net profit was at Rs.13 crore, up 18% while that for H1FY16 dropped 59% to Rs.29 crore.

Trent runs lifestyle chain Westside, Star Bazaar, a hypermarket chain, Landmark, a books and music chain, and Fashion Yatra, a complete family fashion store and Sisley, a premium clothing store. Promoter stake is low in the company at 32.61% but it has come up from 28.60% as at 30th June 2012, held by the Tata group. Institution holding is 36.26%. Azim Premji’s fund – PI Opportunity Fund holds 2.77% , down from 4.03% stake and Singapore-based investment management company Arisaig Partners has hiked its stake from 1.57% at end of Q4FY12 to 6.65% and now at 9.89%.