SPENCERS

Spencer's Retail financials

Market cap
₹281 Cr
Sector
Consumer Services
Calls analysed
6
Latest concall · Q1 FY27 · call held 13 Aug 2026

Spencer's Retail Limited Q1 FY27

Consolidated Revenue ₹469 cr +13%Consolidated EBITDA ₹9.4 cr +100%Consolidated EBITDA Margin 2% Consolidated PBT ₹-60 cr

What went well

  • Consolidated revenue grew 13% year-on-year to ₹469 crores, demonstrating strong growth.
  • Consolidated EBITDA improved 2x to ₹9.4 crores (2% of sales) from ₹4.7 crores (1% of sales) in Q1 last year.
  • Spencer's format showed strong 8% growth, marking the eighth consecutive month of growth.

What to watch

  • Nature's Basket experienced a 13% degrowth year-on-year, with sales at ₹59 crores compared to ₹69 crores in Q1 FY26.
  • Nature's Basket's financial EBITDA remained negative at ₹2.5 crores for the quarter.
Read the full call →

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 0 delivered 7 missed 8 open
  • Operational EBITDA Breakeven missed said Q4 FY25 Promised: By the end of FY26 at an EBITDA level both businesses (Spencer's & NB) will break even. Q1 FY27: Promise was for FY26 and was missed. Superseded by new FY27 targets.
  • Spencer's New Store Additions (FY27) revised down said Q4 FY26 Promised: So, you will see 3-4 stores of Spencer's coming up in this year. Some of them might be new to the network. Some of them could be relocating an underperforming store... Q1 FY27: Management reversed guidance, stating 'not in this fiscal, we are not adding' stores, a direct contradiction to the 3-4 store target set last quarter.
  • Spencer's Store EBITDA on track said Q4 FY26 Promised: Going forward in FY'27, we will be able to achieve that 8% store EBITDA. Q1 FY27: Management reports significant improvement from 2.5% last year, making good progress towards the 7.5-8% aspiration for FY27.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 12.7%, net profit up 3.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue518 517 412 416 445 −14%503 −3%436 +6%469 +13%
EBITDA-45 12 -11 -7 -4 +91%7 −42%-7 +36%8 +214%
Net profit-87 -47 -68 -62 -64 +26%-58 −23%-66 +3%-60 +3%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −51.5% 1Y

₹30.0₹40.0₹50.0₹60.0Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 11 Nov 2025Q3 FY26 — 9 Feb 2026Q4 FY26 — 22 May 2026Q1 FY27 — 13 Aug 2026

1Y: ₹58.4 on 10 Sept 2025 → ₹28.3. High ₹59.09 (6 Oct 2025), low ₹24.58 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+0.7%
13 Aug
Q4 FY26
−2.1%
22 May
Q3 FY26
−1.5%
9 Feb
Q2 FY26
−1.0%
11 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 9.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to -0.6%.

Year endingFY23FY24FY25FY26
Revenue₹2.5k Cr₹2.3k Cr₹2.0k Cr₹1.8k Cr
Operating profit₹4 Cr₹-12 Cr₹-43 Cr₹-11 Cr
Operating margin0.2%-0.5%-2.2%-0.6%
Interest₹116 Cr₹149 Cr₹165 Cr₹169 Cr
Depreciation₹131 Cr₹133 Cr₹143 Cr₹95 Cr
Net profit₹-211 Cr₹-266 Cr₹-245 Cr₹-250 Cr
Net margin-8.6%-11.3%-12.3%-13.9%
Cash from operations₹27 Cr₹35 Cr₹37 Cr₹-60 Cr
Free cash flow₹1 Cr₹3 Cr₹21 Cr₹-69 Cr
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹45 Cr₹45 Cr₹45 Cr₹45 Cr₹45 Cr₹45 Cr
Reserves₹141 Cr₹17 Cr₹-196 Cr₹-461 Cr₹-832 Cr₹-958 Cr
Borrowings₹944 Cr₹1.1k Cr₹1.3k Cr₹1.6k Cr₹1.7k Cr₹1.9k Cr
Other liabilities₹429 Cr₹435 Cr₹439 Cr₹490 Cr₹371 Cr₹390 Cr
Total liabilities₹1.6k Cr₹1.6k Cr₹1.6k Cr₹1.7k Cr₹1.3k Cr₹1.4k Cr
Fixed assets₹1.1k Cr₹1.0k Cr₹1.1k Cr₹1.2k Cr₹890 Cr₹971 Cr
Capital work in progress₹3 Cr₹8 Cr₹2 Cr₹1 Cr₹0 Cr₹0 Cr
Investments₹35 Cr₹94 Cr₹94 Cr₹56 Cr₹44 Cr₹36 Cr
Other assets₹468 Cr₹415 Cr₹401 Cr₹428 Cr₹352 Cr₹389 Cr
Total assets₹1.6k Cr₹1.6k Cr₹1.6k Cr₹1.7k Cr₹1.3k Cr₹1.4k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +1.07 pp while FIIs trimmed −1.06 pp. The shareholder count shrank 5% to 47,972.

Promoters
58.8%
FIIs
6.5%
DIIs
2.0%
Government
0.0%
Public
32.5%
Others
0.1%

Since Jun 2025

  • Public +1.07 pp
  • FIIs −1.06 pp
  • Promoters 0.00 pp

How it drifted, 12 quarters

Over this window the public went from 30.2% to 32.5% — +2.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 58.8%, FIIs 8.4%, DIIs 2.4%, Government 0.0%, Public 30.2%, Others 0.1%.Dec '23: Promoters 58.8%, FIIs 8.8%, DIIs 2.0%, Government 0.0%, Public 30.2%, Others 0.1%.Mar '24: Promoters 58.8%, FIIs 9.4%, DIIs 2.0%, Government 0.0%, Public 29.6%, Others 0.1%.Jun '24: Promoters 58.8%, FIIs 8.3%, DIIs 2.0%, Government 0.0%, Public 30.7%, Others 0.1%.Sep '24: Promoters 58.8%, FIIs 8.3%, DIIs 2.0%, Government 0.0%, Public 30.7%, Others 0.1%.Dec '24: Promoters 58.8%, FIIs 8.5%, DIIs 2.0%, Government 0.0%, Public 30.5%, Others 0.1%.Mar '25: Promoters 58.8%, FIIs 8.7%, DIIs 2.0%, Government 0.0%, Public 30.3%, Others 0.1%.Jun '25: Promoters 58.8%, FIIs 7.6%, DIIs 2.0%, Government 0.0%, Public 31.5%, Others 0.1%.Sep '25: Promoters 58.8%, FIIs 7.4%, DIIs 2.0%, Government 0.0%, Public 31.7%, Others 0.1%.Dec '25: Promoters 58.8%, FIIs 6.5%, DIIs 2.0%, Government 0.0%, Public 32.5%, Others 0.1%.Mar '26: Promoters 58.8%, FIIs 6.5%, DIIs 2.0%, Government 0.0%, Public 32.5%, Others 0.1%.Jun '26: Promoters 58.8%, FIIs 6.5%, DIIs 2.0%, Government 0.0%, Public 32.5%, Others 0.1%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Spencer's Retail Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Rainbow Investments Limited 43.94%unchanged
Stel Holdings Limited 4.88%unchanged
India Insight Value Fund FPI fund3.57%unchanged
Integrated Coal Mining Limited 2.73%unchanged
Castor Investments Limited 2.65%unchanged
Crizac Technologies Private Limited 2.00%unchanged
Quest Capital Markets Limited 1.93%unchanged
Life Insurance Corporation Of India Insurer1.47%unchanged
Habrok India Master Lp FPI fund1.41%unchanged
Pcbl Chemical Limited 1.27%unchanged
Cassini Partners, L.P. Managed By Habrok Capital Management Llp FPI fund1.20%unchanged
Digidrive Distributors Limited 1.17%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (6)

Read the Q1 FY27 call →

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