Retailing
Valuation | |
|---|---|
| Market Cap | 356.11 Cr |
| Price/Earnings (Trailing) | -1.48 |
| Price/Sales (Trailing) | 0.2 |
| EV/EBITDA | 73.8 |
| Price/Free Cashflow | 31.27 |
| MarketCap/EBT | -1.48 |
| Enterprise Value | 1.45 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 20.3% |
| Price Change 1M | -4.9% |
| Price Change 6M | -27% |
| Price Change 1Y | -52.9% |
| 3Y Cumulative Return | -15.8% |
| 5Y Cumulative Return | -13.3% |
| 7Y Cumulative Return | -16.1% |
| Revenue (TTM) |
| 1.82 kCr |
| Rev. Growth (Yr) | -22.5% |
| Earnings (TTM) | -241.15 Cr |
| Earnings Growth (Yr) | 26.8% |
Profitability | |
|---|---|
| Operating Margin | -13% |
| EBT Margin | -13% |
| Return on Equity | 30.66% |
| Return on Assets | -18.74% |
| Free Cashflow Yield | 3.2% |
| Cash Flow from Investing (TTM) | -20.24 Cr |
| Cash Flow from Operations (TTM) | 37.41 Cr |
| Cash Flow from Financing (TTM) | -26.94 Cr |
| Cash & Equivalents | 18.57 Cr |
| Free Cash Flow (TTM) | 15.42 Cr |
| Free Cash Flow/Share (TTM) | 1.71 |
Balance Sheet | |
|---|---|
| Total Assets | 1.29 kCr |
| Total Liabilities | 2.07 kCr |
| Shareholder Equity | -786.61 Cr |
| Current Assets | 283.11 Cr |
| Current Liabilities | 1.21 kCr |
| Net PPE | 97.52 Cr |
| Inventory | 192.24 Cr |
| Goodwill | 131.27 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.86 |
| Debt/Equity | -1.41 |
| Interest Coverage | -2.48 |
| Interest/Cashflow Ops | 1.23 |
Dividend & Shareholder Returns | |
|---|---|
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Balance Sheet: Caution! Weak Balance sheet.
Profitability: Poor Profitability. Recent profit margins are negative at -13%.
Size: It is a small market cap company and can be volatile.
Growth: Declining Revenues! Trailing 12m revenue has fallen by -23.1% in past one year. In past three years, revenues have changed by -27.3%.
Dividend: Stock hasn't been paying any dividend.
Past Returns: Underperforming stock! In past three years, the stock has provided -15.8% return compared to 13% by NIFTY 50.
Smart Money: Smart money is losing interest in the stock.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Balance Sheet: Caution! Weak Balance sheet.
Profitability: Poor Profitability. Recent profit margins are negative at -13%.
Size: It is a small market cap company and can be volatile.
Growth: Declining Revenues! Trailing 12m revenue has fallen by -23.1% in past one year. In past three years, revenues have changed by -27.3%.
Dividend: Stock hasn't been paying any dividend.
Past Returns: Underperforming stock! In past three years, the stock has provided -15.8% return compared to 13% by NIFTY 50.
Smart Money: Smart money is losing interest in the stock.
Investor Care | |
|---|---|
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | -26.76 |
Financial Health | |
|---|---|
| Current Ratio | 0.23 |
| Debt/Equity | -1.41 |
Technical Indicators | |
|---|---|
| RSI (14d) | 52.19 |
| RSI (5d) | 78.6 |
| RSI (21d) | 47 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal | Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
Summary of Spencer's Retail's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the Q2 FY26 earnings call, management provided a positive outlook for Spencer's Retail, highlighting a 7% quarter-on-quarter growth despite challenges due to GST-related supply chain disruptions and unseasonal rains. The company's margin stood at 21%, a 20 bps increase from the previous quarter, showing stability. Sales per square foot improved to INR 1,600, up from INR 1,500 in the prior quarter and significantly higher than INR 1,200 in Q2 FY25.
Key forward-looking points include:
Online Business Growth: The Jiffy platform saw a 30% QoQ growth, achieving INR 52.5 crores in revenue. The potential to reach 10,000 orders daily was emphasized, which could translate to monthly revenues of approximately INR 21-22 crores.
Offline Strategy: The company plans to consolidate and optimize existing stores rather than expand, focusing on driving efficiency. Offline revenues were INR 376 crores, a 6% sequential growth.
Membership Programs: The "My Spencer Rewards" program has signed up over 50,000 members, significantly impacting customer retention and spending, with members purchasing five times more on average compared to non-members.
Targets: Management aims to achieve sales per square foot of INR 2,000 within the financial year, with aspirations to reach INR 2,200-2,300 by the end of next financial year.
EBITDA Goals: High confidence was expressed in achieving EBITDA breakeven for the offline business by FY26, with the online segment expected to incur losses in its growth phase.
Overall, management remains focused on optimizing the offline business while expanding online capabilities, maintaining a commitment to profitability without excessive losses in online ventures.
Understand Spencer's Retail ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Rainbow Investments Limited | 43.94% |
| Stel Holdings Limited | 4.88% |
| India Insight Value Fund | 3.57% |
| Integrated Coal Mining Limited | 2.73% |
| Castor Investments Limited | 2.65% |
| Quest Capital Markets Limited | 1.93% |
| Crizac Technologies Private Limited | 1.89% |
Detailed comparison of Spencer's Retail against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Comprehensive comparison against sector averages
SPENCERS metrics compared to Retailing
| Category | SPENCERS | Retailing |
|---|---|---|
| PE | -1.48 | -109.35 |
| PS | 0.20 | 3.07 |
| Growth | -23.1 % | 11.8 % |
Spencer's Retail Limited, together with its subsidiaries, engages in developing, conducting, investing, and promoting organized retail business through departmental and neighborhood stores under various formats in India. The company offers products in various categories, such as groceries, food, personal care, home, electrical and electronics, fashion and accessories, specialities, home essentials, general merchandise, apparel, staples, and fast-moving consumer goods. It also engages in the online retail business. It provides its products under the own brands, including Smart Choice, Tasty Wonders, Clean Home, and Maroon, as well as under the various private brands, such as Island Monks, Mark Nicolas, Asankhya, Scorez, La Bonita, and Island Monks Kids. The company was formerly known as RP-SG Retail Limited and changed its name to Spencer's Retail Limited in December 2018. Spencer's Retail Limited was founded in 1863 and is headquartered in Kolkata, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
SPENCERS vs Retailing (2021 - 2026)
Q1: "Are we confident that we should be kind of EBITDA positive for the full year FY '26 at console level?"
Anuj Singh: "At a consolidated level, I don't think we will reach EBITDA positivity this fiscal year due to the necessary investments in the online business. However, we aim for our offline segments, both Spencer's and Nature's Basket, to be EBITDA positive. The online unit economics are breaking even, but overhead costs impact the consolidated margin, so we focus on offline profitability."
Q2: "What kind of sales per square feet or gross margin level do we need to achieve to grow our absolute EBITDA number?"
Anuj Singh: "We need to aspire to cross INR 2,000 in sales per square foot. Historically, Nature's Basket reached INR 2,300-2,400. Attaining INR 2,200-2,300 by next financial year would be ideal. The goal is to maintain margins around 19% and improve absolute rupee gross margins through top-line expansion without increasing costs."
Q3: "Are we still confident to achieve EBITDA breakeven for offline segments by FY26?"
Anuj Singh: "Yes, we are targeting to reach EBITDA breakeven for the offline part of the business in the next two quarters. We are optimistic about achieving our EBITDA goals through strategic cost management and a focus on sales growth."
Q4: "How are you planning to deleverage the balance sheet amidst recent charge creation?"
Anuj Singh: "We plan to utilize our current capital arrangements to access funds while exploring alternate fundraising options. We aim for a refined strategy as we progress, though specifics will be shared once concrete plans are finalized."
Q5: "What is the anticipated investment number for the online business in H2, and how much was spent in H1?"
Anuj Singh: "While I won't break down the exact figures, I can say that hitting a top line of INR 30 crores per month could bring us close to breakeven with a projected loss of around INR 1.5 crores at that level. Analyzing unit order economics helps set our investment strategy moving forward."
| Habrok India Master Lp | 1.41% |
| Pcbl Chemical Limited | 1.27% |
| Cassini Partners, L.P. Managed By Habrok Capital Management Llp | 1.2% |
| Digidrive Distributors Limited | 1.17% |
| Jayakrishna Taparia | 1.05% |
| Sanjiv Goenka | 0.1% |
| Shashwat Goenka | 0.08% |
| Dotex Merchandise Private Limited | 0.03% |
| Preeti Goenka | 0.02% |
| Sanjiv Goenka Huf | 0.01% |
| Foreign Bank | 0.01% |
| Avarna Jain | 0% |
| Lebnitze Real Estates Private Limited | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| 489 |
| 492 |
| 567 |
| 666 |
| 620 |
| Profit Before exceptional items and Tax | -3.5% | -63.85 | -61.67 | -68.47 | -47.4 | -87.25 | -43.49 |
| Total profit before tax | -3.5% | -63.85 | -61.67 | -68.47 | -47.4 | -87.25 | -43.49 |
| Deferred tax | 0% | -0.06 | -0.06 | -0.06 | -0.06 | -0.06 | -0.06 |
| Total tax | 0% | -0.06 | -0.06 | -0.06 | -0.06 | -0.06 | -0.06 |
| Total profit (loss) for period | -3.5% | -63.79 | -61.61 | -68.41 | -47.34 | -87.18 | -43.43 |
| Other comp. income net of taxes | 0% | 0.2 | 0.2 | 0.01 | 0.19 | 0.2 | 0.19 |
| Total Comprehensive Income | -3.5% | -63.59 | -61.41 | -68.4 | -47.15 | -86.98 | -43.24 |
| Earnings Per Share, Basic | -3.1% | -7.08 | -6.84 | -7.59 | -5.25 | -9.67 | -4.82 |
| Earnings Per Share, Diluted | -3.1% | -7.09 | -6.85 | -7.6 | -5.26 | -9.68 | -4.83 |
| -28.7% |
| 115 |
| 161 |
| 164 |
| 152 |
| 158 |
| 161 |
| Finance costs | 11% | 132 | 119 | 91 | 76 | 69 | 61 |
| Depreciation and Amortization | 14.1% | 106 | 93 | 97 | 94 | 106 | 105 |
| Other expenses | -12.3% | 214 | 244 | 245 | 219 | 240 | 261 |
| Total Expenses | -14% | 1,960 | 2,280 | 2,363 | 2,152 | 2,244 | 2,460 |
| Profit Before exceptional items and Tax | 12.7% | -184.78 | -211.82 | -153.23 | -84.56 | -127.94 | -57.02 |
| Total profit before tax | 12.7% | -184.78 | -211.82 | -153.23 | -84.56 | -127.94 | -57.02 |
| Current tax | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total tax | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total profit (loss) for period | 12.7% | -184.78 | -211.82 | -153.23 | -84.56 | -127.94 | -57.02 |
| Other comp. income net of taxes | -100% | 0.58 | 0.79 | -1.98 | -3.16 | -0.67 | -1.42 |
| Total Comprehensive Income | 12.7% | -184.2 | -211.03 | -155.21 | -87.72 | -128.61 | -58.44 |
| Earnings Per Share, Basic | 12.2% | -20.5 | -23.501 | -17 | -9.38 | -14.81 | -7.17 |
| Earnings Per Share, Diluted | 12.2% | -20.5 | -23.501 | -17 | -9.38 | -14.81 | -7.17 |
| 345 |
| 368 |
| 372 |
| 563 |
| 522 |
| 504 |
| Non-current investments | 3.1% | 537 | 521 | 522 | 522 | 494 | 472 |
| Loans, non-current | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total non-current financial assets | 3.5% | 560 | 541 | 543 | 555 | 526 | 508 |
| Total non-current assets | -0.7% | 1,067 | 1,075 | 1,093 | 1,336 | 1,271 | 1,240 |
| Total assets | 2.8% | 1,310 | 1,274 | 1,414 | 1,646 | 1,602 | 1,553 |
| Borrowings, non-current | -20.2% | 250 | 313 | 261 | 249 | 142 | 142 |
| Total non-current financial liabilities | -11.7% | 664 | 752 | 703 | 907 | 749 | 713 |
| Provisions, non-current | -110% | 0 | 11 | 14 | 14 | 16 | 15 |
| Total non-current liabilities | -11.5% | 676 | 764 | 717 | 921 | 765 | 728 |
| Borrowings, current | 49.7% | 664 | 444 | 534 | 383 | 387 | 298 |
| Total current financial liabilities | 26.9% | 978 | 771 | 902 | 805 | 819 | 696 |
| Provisions, current | 0% | 7.32 | 7.32 | 7.75 | 7.75 | 9.1 | 9.1 |
| Total current liabilities | 23.6% | 992 | 803 | 923 | 834 | 844 | 723 |
| Total liabilities | 6.4% | 1,667 | 1,567 | 1,640 | 1,755 | 1,609 | 1,451 |
| Equity share capital | 0% | 45 | 45 | 45 | 45 | 45 | 45 |
| Total equity | -21.9% | -357.83 | -293.4 | -226.23 | -109.2 | -7.48 | 102 |
| Total equity and liabilities | 2.8% | 1,310 | 1,274 | 1,414 | 1,646 | 1,602 | 1,553 |
| Cashflows used in obtaining control of subsidiaries |
| -82.1% |
| 13 |
| 68 |
| 14 |
| 66 |
| - |
| - |
| Proceeds from sales of PPE | 85.1% | 5.48 | 3.42 | 0.85 | 0.76 | - | - |
| Purchase of property, plant and equipment | -70.4% | 6.32 | 19 | 21 | 17 | - | - |
| Interest received | -9.7% | 0.21 | 0.28 | 0.12 | 0.08 | - | - |
| Other inflows (outflows) of cash | -66.7% | 15 | 43 | -0.76 | -16.28 | - | - |
| Net Cashflows From Investing Activities | 101.2% | 1.51 | -40.21 | -34.71 | -98.48 | - | - |
| Proceeds from borrowings | -21.7% | 189 | 241 | 170 | 128 | - | - |
| Repayments of borrowings | 29.2% | 63 | 49 | 24 | 6.67 | - | - |
| Payments of lease liabilities | -35.2% | 36 | 55 | 52 | 50 | - | - |
| Interest paid | 12% | 132 | 118 | 90 | 75 | - | - |
| Net Cashflows from Financing Activities | -352.4% | -41.9 | 18 | 3.82 | -3.67 | - | - |
| Net change in cash and cash eq. | -202.9% | -15.47 | 17 | -2.08 | -38.97 | - | - |