Spencer's Retail

NSE: SPENCERS · Diversified Retail

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52W Range₹21 – ₹55

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Snapshot

Unlock Spencer's Retail's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Spencer's Retail Ltd is a multi-format retailer under the RP-Sanjiv Goenka Group that operates departmental and neighborhood stores across India. The company offers a diverse product portfolio spanning FMCG, fashion, food, general merchandise, and electronics.

Business Model

The company generates revenue through the sale of consumer goods across its retail store network, which includes specialty formats like Spencer's Gourmet and Nature's Basket. It leverages a multi-format strategy to cater to various consumer segments from daily essentials to premium food and lifestyle products.

  • Total Stores:167
  • Nature's Basket Stores:34

Growth Outlook

The company continues to expand its physical footprint, having opened 9 new stores during the 2024 financial year. Future growth is focused on scaling its multi-format retail presence and enhancing its specialty product offerings.

  • New Stores Opened FY24:9

Key Risks

  • Intense Market Competition. The retail sector in India is highly competitive, facing pressure from both established brick-and-mortar chains and rapidly growing e-commerce platforms.
  • Operating Cost Inflation. Rising rental costs, logistics expenses, and employee wages can significantly impact the thin margins typical of the organized retail business.
  • Supply Chain Disruptions. Dependence on a vast network of suppliers for FMCG and fresh produce makes the company vulnerable to supply chain volatility and inventory management challenges.
  • Consumer Spending Sensitivity. As a retailer of discretionary and premium goods, the company is susceptible to fluctuations in consumer sentiment and overall economic slowdowns.

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Key Metrics

REVENUE

₹1,800 Cr

TTM · consolidated

-9.8%YoY

NET PROFIT

₹-249 Cr

TTM · consolidated

-1.2%YoY

EPS

₹-27.67

TTM · consolidated

-1.2%YoY

RETURN ON EQUITY

34.4%

TTM · consolidated

-17.2 ppYoY

RETURN ON CAPITAL EMPLOYED

-27.2%

TTM · consolidated

-14.0 ppYoY

P/E

-0.9x

Q4 FY26 · consolidated

-0.9 vs -1.5x5Y avg

EV/EBITDA

95.9x

Q4 FY26 · consolidated

95.9 vs 262.2x5Y avg

EBITDA MARGIN

0.8%

TTM · consolidated

-2.2 ppYoY

NET PROFIT MARGIN

-15.0%

Q4 FY26 · consolidated

+1.6 ppYoY

DEBT TO EQUITY

-1.4x

Q4 FY26 · consolidated

+0.05xYoY

Peers · Diversified Retail

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Spencer's RetailSPENCERS
₹265 Cr-0.9595.88-9.8%0.8%34.4%-27.2%-53.1%
Electronics Mart India LimitedEMIL
₹7,361 Cr38.0714.2116.8%7.3%13.1%15.5%+42.8%
V-Mart Retail LimitedVMART
₹6,257 Cr42.9011.2619.1%14.1%15.6%17.4%+2.7%
Shoppers Stop LimitedSHOPERSTOP
₹4,307 Cr-128.485.61—15.6%-11.3%7.7%-22.3%
Keto Motors LtdKETOMOTORS
₹2,057 Cr———23.9%———
Patel RetailPATELRMART
₹703 Cr16.219.45—7.4%11.4%16.4%-9.9%

As of Q4 FY26

Financials