Spencers Retail Ltd
Incorporated in 2017, Spencer’s Retail Ltd develops, conducts, and promotes organized retail. It operates departmental and neighborhood stores under various formats across the country[1]
- Market Cap ₹ 311 Cr.
- Current Price ₹ 34.5
- High / Low ₹ 75.0 / 30.0
- Stock P/E
- Book Value ₹ -87.3
- Dividend Yield 0.00 %
- ROCE -9.72 %
- ROE %
- Face Value ₹ 5.00
Pros
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -5.48% over past five years.
- Earnings include an other income of Rs.27.7 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Services Retailing Diversified Retail
Part of BSE Allcap BSE Consumer Discretionary
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 13m | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 1,149 | 2,187 | 2,645 | 2,428 | 2,300 | 2,453 | 2,345 | 1,995 | 1,776 | |
| 1,153 | 2,178 | 2,587 | 2,420 | 2,275 | 2,448 | 2,354 | 2,038 | 1,791 | |
| Operating Profit | -4 | 9 | 57 | 8 | 25 | 4 | -9 | -43 | -15 |
| OPM % | -0% | 0% | 2% | 0% | 1% | 0% | -0% | -2% | -1% |
| 9 | 28 | 32 | 53 | 76 | 32 | 23 | 104 | 28 | |
| Interest | 4 | 7 | 82 | 91 | 97 | 115 | 148 | 164 | 165 |
| Depreciation | 15 | 25 | 138 | 134 | 126 | 132 | 132 | 143 | 100 |
| Profit before tax | -14 | 4 | -131 | -164 | -122 | -211 | -267 | -247 | -252 |
| Tax % | 0% | 43% | -0% | -0% | -0% | -0% | -0% | -0% | |
| -14 | 2 | -131 | -164 | -121 | -210 | -266 | -246 | -252 | |
| EPS in Rs | 0.27 | -14.51 | -18.18 | -13.48 | -23.34 | -29.53 | -27.33 | -27.98 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -5% |
| 3 Years: | -5% |
| TTM: | -17% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -50% |
| 3 Years: | % |
| TTM: | 3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -15% |
| 3 Years: | -18% |
| 1 Year: | -52% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | % |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 40 | 40 | 45 | 45 | 45 | 45 | 45 | 45 |
| Reserves | 507 | 508 | 234 | 141 | 17 | -196 | -461 | -707 | -832 |
| 1 | 0 | 849 | 944 | 1,069 | 1,341 | 1,622 | 1,571 | 1,702 | |
| 373 | 365 | 471 | 429 | 435 | 439 | 490 | 400 | 371 | |
| Total Liabilities | 881 | 914 | 1,594 | 1,559 | 1,565 | 1,629 | 1,696 | 1,310 | 1,287 |
| 239 | 263 | 1,055 | 1,053 | 1,049 | 1,132 | 1,211 | 953 | 890 | |
| CWIP | 0 | 1 | 10 | 3 | 8 | 2 | 1 | 0 | 0 |
| Investments | 7 | 23 | 24 | 35 | 94 | 94 | 56 | 43 | 44 |
| 635 | 627 | 505 | 468 | 415 | 401 | 428 | 314 | 352 | |
| Total Assets | 881 | 914 | 1,594 | 1,559 | 1,565 | 1,629 | 1,696 | 1,310 | 1,287 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| -48 | -13 | 114 | -2 | 55 | 27 | 35 | 37 | |
| -189 | 22 | -7 | -18 | -40 | -26 | 11 | -20 | |
| 38 | -0 | -54 | -3 | -54 | -5 | -28 | -27 | |
| Net Cash Flow | -199 | 9 | 53 | -24 | -40 | -4 | 18 | -10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 12 | 7 | 9 | 4 | 4 | 3 | 4 | 3 |
| Inventory Days | 109 | 57 | 44 | 51 | 52 | 49 | 52 | 39 |
| Days Payable | 123 | 66 | 66 | 63 | 67 | 64 | 75 | 72 |
| Cash Conversion Cycle | -2 | -1 | -13 | -8 | -10 | -12 | -19 | -30 |
| Working Capital Days | -1 | -2 | -40 | -50 | -63 | -79 | -99 | -137 |
| ROCE % | 2% | -6% | -7% | -2% | -8% | -10% | -10% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
13 Feb - Transcripts of the Q3FY26 Post Results Earnings Conference Call.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
13 Feb - Newspaper Publication in connection with the Postal Ballot of the Company.
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 12 Feb
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
9 Feb - Audio recording of earnings conference call for Q3 and nine months ended Dec 31, 2025 published Feb 9, 2026.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
9 Feb - Newspaper Publication of the extract of Unaudited Financial Results for the quarter and nine months ended on December 31, 2025.
Annual reports
Concalls
-
Feb 2026Transcript PPT REC
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript PPT REC
-
May 2025Transcript PPT
-
Jan 2025Transcript PPT
-
Nov 2024Transcript PPT
-
Aug 2024Transcript PPT
-
Jul 2024TranscriptAI SummaryPPT
-
Jul 2024TranscriptAI SummaryPPT
-
May 2024Transcript PPT
-
Feb 2024Transcript PPT
-
Nov 2023TranscriptAI SummaryPPT
-
Sep 2023TranscriptAI SummaryPPT
-
Aug 2023TranscriptAI SummaryPPT
-
May 2023TranscriptAI SummaryPPT
-
Feb 2023TranscriptAI SummaryPPT
-
Nov 2022TranscriptAI SummaryPPT
-
Aug 2022TranscriptAI SummaryPPT
-
Nov 2021TranscriptAI SummaryPPT
-
Nov 2021TranscriptAI SummaryPPT
-
Nov 2021TranscriptAI SummaryPPT
-
Aug 2021TranscriptAI SummaryPPT
-
Jul 2021TranscriptAI SummaryPPT
-
Jun 2021TranscriptAI SummaryPPT
-
Feb 2021TranscriptAI SummaryPPT
-
Nov 2020TranscriptAI SummaryPPT
-
Sep 2020Transcript PPT
-
Sep 2020TranscriptAI SummaryPPT
-
Jun 2020TranscriptAI SummaryPPT
-
Feb 2020TranscriptAI SummaryPPT
-
Nov 2019TranscriptAI SummaryPPT
-
Nov 2019TranscriptAI SummaryPPT
-
May 2019TranscriptAI SummaryPPT
-
Jan 2019TranscriptAI SummaryPPT
Business Overview:[1]
SRL, part of the RP-Sanjiv Goenka Group, is a multi-format retailer offering a diverse range of products including FMCG, fashion, food, staples, general merchandise, personal care, home essentials, electricals, and electronics. Its specialty sections include Spencer’s Gourmet, Patisserie, Wine & Liquor, Epicuisine, and L'exclusif for healthy alternatives. As of FY24, Spencer’s (including Nature's Basket) operates 167 stores [including 34 stores of NBL]. 9 stores were opened in FY24.[2]