“Karan Taurani of Elara Securities is bearish on Trent, citing a moderation in expected revenue growth to 15-17% from an earlier 20-25% band, driven by weak like-for-like growth and intensifying competition. He warns of downside risks to EBITDA margins, potentially declining by 100-150 basis points over the next few quarters if the company invests in product quality, which could trigger further earnings downgrades and make current valuations vulnerable.”