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 ₹ 408 Cr.
- Current Price ₹ 45.3
- High / Low ₹ 97.3 / 43.2
- 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.29.5 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
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 | 1,790 | |
| 1,153 | 2,178 | 2,587 | 2,420 | 2,275 | 2,448 | 2,354 | 2,038 | 1,800 | |
| Operating Profit | -4 | 9 | 57 | 8 | 25 | 4 | -9 | -43 | -10 |
| OPM % | -0% | 0% | 2% | 0% | 1% | 0% | -0% | -2% | -1% |
| 9 | 28 | 32 | 53 | 76 | 32 | 23 | 104 | 29 | |
| Interest | 4 | 7 | 82 | 91 | 97 | 115 | 148 | 164 | 163 |
| Depreciation | 15 | 25 | 138 | 134 | 126 | 132 | 132 | 143 | 98 |
| Profit before tax | -14 | 4 | -131 | -164 | -122 | -211 | -267 | -247 | -241 |
| Tax % | 0% | 43% | -0% | -0% | -0% | -0% | -0% | -0% | |
| -14 | 2 | -131 | -164 | -121 | -210 | -266 | -246 | -241 | |
| EPS in Rs | 0.27 | -14.51 | -18.18 | -13.48 | -23.34 | -29.53 | -27.33 | -26.76 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -5% |
| 3 Years: | -5% |
| TTM: | -21% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -50% |
| 3 Years: | % |
| TTM: | 8% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -10% |
| 3 Years: | -13% |
| 1 Year: | -46% |
| 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
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
17 Nov - Transcripts of the Q2FY26 Post Results Earnings Conference Call
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
11 Nov - Audio recording of Q2 and H1 earnings conference call for period ended Sep 30, 2025 (held Nov 11, 2025).
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Announcement under Regulation 30 (LODR)-Newspaper Publication
11 Nov - Newspaper Publication of the extract of Unaudited Financial Results for the quarter and half year ended on September 30, 2025
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Announcement under Regulation 30 (LODR)-Investor Presentation
10 Nov - Investor update for the quarter ended September 30, 2025
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Board Meeting Outcome for Outcome Of Board Meeting Held On November 10, 2025 - Quarter And Half Year Results
10 Nov - Unaudited Q2/H1 results (30 Sep 2025): H1 standalone loss Rs6,483.28L; consolidated loss Rs12,540.24L; large current-liability shortfalls.
Annual reports
Concalls
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT
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Jan 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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Jul 2024TranscriptNotesPPT
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Jul 2024TranscriptNotesPPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023TranscriptNotesPPT
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Sep 2023TranscriptNotesPPT
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Aug 2023TranscriptNotesPPT
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May 2023TranscriptNotesPPT
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Feb 2023TranscriptNotesPPT
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Nov 2022TranscriptNotesPPT
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Aug 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Aug 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Sep 2020Transcript PPT
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Sep 2020TranscriptNotesPPT
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Jun 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Jan 2019TranscriptNotesPPT
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]