| Management target | Revenue 25.0% FY27 |
|---|
| Revenue growth | 13% YoY consolidated revenue growth; Spencer's format led at 18%. |
|---|---|
| Margins | Spencer's steady at 19%; Nature's Basket margins flat amid reset. |
| Demand visibility | Strong retention in membership programs; online demand scaling with better unit-economics. |
| Management confidence | Cautiously optimistic; pivot from cost-efficiency to sales-led EBITDA improvement. |
Growth
Spencer's segment grew 18% YoY; online business grew 49% with positive unit order economics at ₹18 per order.
Outlook
Aiming for 7.5-8% store EBITDA; FY27 growth guided at 25% for online and mid-to-high single digits for offline.
Risks
Nature’s Basket de-grew 13% YoY; high consolidated debt of ₹1266 Cr remains a significant overhang.
Last quarter's promises, checked
Delivered
- Guided H2 growth sustainability → delivered 13% YoY growth in Q1 FY27 (= BEAT)
- Guided 8% store EBITDA target → delivered 7.5-8% store EBITDA (= BEAT)
- Guided online loss reduction → delivered positive unit economics at ₹18/order (= BEAT)
Partly delivered
- Guided membership base expansion → delivered 125,000 members vs 100,000 target (= BEAT)
Missed
- Guided Nature's Basket growth turnaround → delivered 13% YoY de-growth (= MISS)
- Guided debt repayment/refinancing ₹108 Cr in H1 → debt remains high at ₹1266 Cr (= MISS)
Earnings Call Transcript filed with BSE, NSE: SPENCERS. Summary written with AI assistance from the document.
Spencers Retail Ltd: key numbers
- Share price
- ₹27.85
- Market cap
- ₹251.0 Cr
- Revenue (annual)
- ₹1,800 Cr
- Net profit (annual)
- ₹-249.3 Cr
- P/E (TTM)
- -1.0×Sector 66.8×
- Promoter holding
- 58.81%+0.00% QoQ
- FII holding
- 6.50%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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