TRENT.NSE

Trent Ltd.

In this briefing: Westlife Foodworld Ltd - Demand Recovery Brewing; Margins Stay Strong JK Lakshmi Cement Limited - Lower Realisation Impacted Performance; Retain BUY Trent Ltd - Short-Term Noise, Long-Term Story Intact; Maintain BUY Aarti Drugs Ltd - Operational Headwinds Cloud Q3FY26 India: Trade Agreements to Attract Foreign Investment 1. Westlife Foodworld Ltd - Demand Recovery Brewing; Margins Stay Strong Demand recovery combined with strong value strategy: The company is witnessing a clear improvement in guest counts from December onwards, with January trends continuing to remain positive. The Rs 99 value platform has now been rolled out across the West and select South markets without any adverse impact on gross margins, underscoring effective cost control. Management’s focus remains firmly on driving higher footfalls rather than only increasing ticket size, which is an appropriate strategy in a soft demand environment. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only.

In this briefing: Trent Ltd - Short-Term Noise, Long-Term Story Intact; Maintain BUY Aarti Drugs Ltd - Operational Headwinds Cloud Q3FY26 India: Trade Agreements to Attract Foreign Investment India: EU FTA, US Tariff Reductions Dovetail with Budget's Manufacturing Focus Aequitas: Turtlemint Fintech Solutions Limited Pre-IPO Tearsheet 1. Trent Ltd - Short-Term Noise, Long-Term Story Intact; Maintain BUY Revenue Performance: Trent posted a 16% YoY revenue growth in Q3FY26, with sales reaching Rs 5,259 Cr. However, the early festive season and the transition to the revised GST structure impacted QoQ comparability. In the near term, consumers showed a preference for higher-value purchases that benefited more from GST reductions, though demand for lower-ticket discretionary categories is expected to normalise over the medium term. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Simone Tata, step-mother of Ratan Tata, has passed away at 95. She was a key figure in building Lakmé and founded Trent Ltd. Simone Tata played a significant role in India's beauty and retail sectors for over four decades. She was instrumental in establishing Westside under Trent. Her contributions shaped the industries significantly.

In this briefing: Genus Power Infrastructures Ltd - Strong Q2; Tendering Progress Will Be the Key UNO MINDA Ltd - Structural Growth Story Intact; Upside Potential Fully Valued in CMP Britannia Industries Ltd - Resilient Performance with Margins Expansion; Maintain BUY Trent Ltd - Resilient Growth Amid GST Transition; Maintain BUY Pick of the Week: Can Fin Homes Ltd. - 08 November, 2025 1. Genus Power Infrastructures Ltd - Strong Q2; Tendering Progress Will Be the Key Addressable Market: Against the RDSS’s Smart Meter Installation target of 25 Cr, ~15 Cr meters have been awarded, and 4.5 Cr are installed. Out of the remaining 10 Cr meters to be awarded, tenders for 3.8 Cr meters are live, which will be finalised by the end of FY26. The balance tenders for ~6.0-6.5 Cr meters could go live in the next 12 to 18 months. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below. 2.