Spencer's Retail Limited submitted an investor update pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 for the quarter ended September 30, 2026 (Q2 FY27).

Consolidated Financial Performance

  • Revenue: ₹462.0 Cr in Q2 FY27, representing 4% YoY growth (vs ₹445.1 Cr in Q2 LY)
  • Gross Margin: ₹87.8 Cr (19.0% of sales) vs ₹93.5 Cr (21.0% of sales) in Q2 LY
  • Employee Expenses: ₹28.4 Cr, down 16% YoY from ₹33.8 Cr
  • Other Expenses: ₹55.7 Cr, down 12% YoY from ₹63.2 Cr
  • Other Income: ₹1.9 Cr, down 49% YoY from ₹3.7 Cr
  • EBITDA: ₹6.5 Cr (2.1% of sales) vs ₹0.2 Cr (0.1% of sales) in Q2 LY
  • Depreciation: ₹23.6 Cr vs ₹23.3 Cr in Q2 LY
  • Finance Costs: ₹48.3 Cr vs ₹40.8 Cr in Q2 LY
  • PBT: Loss of ₹66.3 Cr vs loss of ₹63.9 Cr in Q2 LY
  • PAT: Loss of ₹66.3 Cr vs loss of ₹63.8 Cr in Q2 LY
  • Total Comprehensive Income: Loss of ₹66.7 Cr vs loss of ₹63.6 Cr in Q2 LY

Spencer's Standalone Performance

  • Revenue: ₹402.8 Cr, up 7.1% YoY from ₹376.3 Cr
  • Gross Margin: ₹71.7 Cr (17.8% margin) vs ₹73.7 Cr (19.6% margin) in Q2 LY
  • Employee Expenses: ₹18.6 Cr, down 21% YoY from ₹23.4 Cr
  • Other Expenses: ₹37.1 Cr, down 9% YoY from ₹40.7 Cr
  • EBITDA: ₹16.9 Cr (4.2% of sales) vs ₹12.7 Cr (3.4% of sales) in Q2 LY
  • PBT: Loss of ₹37.0 Cr vs loss of ₹33.7 Cr in Q2 LY
  • Store Count: 90 stores (same as Q2 LY), with 0.02 Lac sq.ft TA added

Natures Basket Performance

  • Revenue: ₹56.5 Cr, down 16.8% YoY from ₹67.9 Cr
  • Gross Margin: ₹13.3 Cr (23.5% margin) vs ₹18.7 Cr (27.6% margin) in Q2 LY
  • Employee Expenses: ₹7.8 Cr, up 1% YoY from ₹7.7 Cr
  • Other Expenses: ₹13.6 Cr, up 10% YoY from ₹12.3 Cr
  • EBITDA: Loss of ₹7.0 Cr vs loss of ₹0.6 Cr in Q2 LY
  • PBT: Loss of ₹23.9 Cr vs loss of ₹17.6 Cr in Q2 LY
  • Store Count: 30 stores (down from 31 in Q2 LY)

ORIPL Performance (E-commerce Subsidiary)

  • GMV Online: ₹68 Cr, up 29.2% YoY from ₹52 Cr
  • GMV PD: ₹20 Cr, down 3% YoY from ₹26 Cr
  • Revenue: ₹8.8 Cr, up 39.4% YoY from ₹6.3 Cr
  • Employee Expenses: ₹2.0 Cr, down 25% YoY from ₹2.7 Cr
  • Other Expenses: ₹11.2 Cr, down 28% YoY from ₹15.5 Cr
  • EBITDA: Loss of ₹4.4 Cr, improved from loss of ₹11.9 Cr in Q2 LY
  • PBT: Loss of ₹5.2 Cr, improved from loss of ₹12.4 Cr in Q2 LY

Business Highlights

Spencer's: Achieved 7.1% YoY sales growth with improved EBITDA margin of 4.2% driven by cost control measures. Focused on customer experience initiatives.

Natures Basket: Conducted extensive marketing campaigns including Taste of Thailand Fest, Chef's Table experiences, and collaborations with PVR and Rove Run Club. Achieved 1 million organic Instagram views for the first time.

Store Operations:

  • Spencer's: 90 stores with 7.52 Lac sq.ft total area
  • Natures Basket: 30 stores with 1.16 Lac sq.ft total area

Company Overview

Spencer's Retail Limited, part of RP-Sanjiv Goenka Group, is a multi-format retailer operating 120 stores across 23 cities in India with total area of 8.67 Lac sq.ft. The company operates hypermarkets, specialty sections (Gourmet, Patisserie, Wine & Liquor), and through subsidiaries Natures Basket Limited (premium food) and ORIPL (e-commerce platform).