Hi Jugal
Visited the same again. It shares the floor with Zudio & now had a separate entrance. Earlier visit was probably when it wasn’t set up fully!
The product range is expanded into other product lines.
I did use youtube but that was when I went to a Tier III location & wanted to know when they started there.
Around December I had to see for myself!
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Hi Aman
had other product lines too, now, in this section. to me it seems to be between a shop in shop & a independent store given it’s located next to Zudio.
no people around this section & how they had explained was that the same products are in the Zudio store as well, so they don’t come over to this section.
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Hi Dev
The results were decent given the circumstances. The contraction & the price stabilising, I thought indicated leveraged buyers were out. In the absence of any new external impetus now is a good time/buy?
The store additions in the last 6 months would hold up the results ?(owner’s fallacy!?) but I appreciate your deliberate approach…my thesis is that the runway improves esp with the new tax rules, urban consumer spending revival & FII’s coming back will help the valuation
Trent has been a learning experience (Pyramiding/Valuation) for me & I do see your point.
Finding a new growth engine with reasonable valuation - I looked at V2 retail & Manorama but, scaled cat that I am now, both seem to be overvalued.
V2retail I came across when I visited Kalaburgi to see how Trent is doing in the city with the lowest per capita in Karnataka. Manorama was more of an accident after I read an article about weather effecting coco seed cultivation. Is reading or using a screener how you cast your net?
I will read up the report too & maybe we can compare notes.
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Hi Swami, I started adding V2 when I reduced my position in Trent, but stopped adding after the current CEO left ( he left earlier also and joined again). V2 management is not like Trent, but the growth is much more than Trent as the stores base is quite low. In such stocks you have to be extra cautious. Always be prepared to cut the position immediately when you find any red flag or management guidance is reduced or they sound less confident. Manorama, I think is a better than V2 as they have Monopoly in Sal and Mango based products. Please follow your own process for valuation as it is different for different people It depends on the investment time horizon and risk taking ability. I am risk averse & very conservative when buying. I believe in avoiding big losses and I do not buy at BAAP. I buy only those companies which I can understand and explain to my wife (she does not know any thing about investing). I do use screener.in and Value picker for ideas. If I do not understand the company, the business model and valuation I do not invest. I park investable money in Nifty 50 ETFs and wait for valuation opportunities in existing companies. I am very patient to add new Ideas and I deploy slowly. I cut very fast for red flags and decreased guidance particularly for new ideas, especially in small caps. Please have your own process, which suits your personality, age, aspirations and behavior. At my age I am more focused on sleeping well and remain healthy rather than worrying about volatility. I am happy if I get Index like returns, what ever extra I get is a bonus and mostly attributed to luck rather than my stock picking ability or knowledge. I thank God for being lucky so far.
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Trent doesn’t do concalls every quarter? If that’s the case.. Why?
Public companies are required to disclose their financial performance, but they are not legally obligated to hold conference calls. However, these calls provide a platform for companies to discuss their results in detail, answer investor questions, and share insights that might not be fully captured in the written earnings release. Trent is doing meetings with analysts and institutional investors, but not doing concalls open for all share holders. On 28th May they have scheduled a meeting with BlackRock. AGM of the Company is scheduled to be held on 3rd July 2025 and they will release the annual report.
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Trent management takeaways
Key reason for the negativity
https://x.com/KuntalC84/status/1940981252196384989?t=vtNQD6sap3EQ4rWYbhl6Tg&s=19
Company also said that the Q1 is lower because of India Pak situation and early arrival of monsoon.
(I am just putting what company mentioned, not my view)
They added lot of Zudio stores in Q4FY25 ~20%( total 130 odd). Since sales are up by similar amount of 20%, Probably they new stores are not ramping up as fast OR may be they are ramping up normally but the Same Store sales from older ones has stagnated
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