StockWatch
·

Spencers Retail Ltd

BSE: 542337

P/L Snapshot

Q1 FY27 · standalone

vs Q4 FY26·vs Q1 FY26
Revenue
409.10
+5.4%+15.5%
Expenditure
443.13
+4.6%+15.0%
Net Profit
-34.03
+4.2%-9.2%
OPM %
4.11%
+2.80pp+2.20pp

Shareholding

Pattern breakdown

P/L Trends

(in crores)

RevenueExpenditureNet Profit
-146.3252.57251.46450.35649.24Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Price Chart
Reports

Spencer's Surges But ₹60-Crore Loss Buries the Turnaround Story

Spencers Retail · earnings review · EBITDA vs PAT

Result verdictFollow-upQ1 FY2718 Aug 20266 minConsumer & Retail

Strong Spencer's offset by Nature's Basket slide; ₹60Cr loss obscured

EBITDA improvement · membership traction · online profitability

TranscriptDeep diveQ1 FY2718 Aug 20266 minConsumer & Retail

Spencer's Retail Q1 FY27: consolidated OPM turns positive; net loss narrows YoY

organised retail · margin expansion · operating breakeven

ResultsQ1 FY2713 Aug 20263 minConsumer & Retail
Latest
Board Meeting13 Aug, 3:31 pm

Spencer's Retail Q1 FY27: consolidated OPM turns positive; net loss narrows YoY

Spencer's Retail's consolidated (primary) revenue from operations for Q1 FY27 (quarter ended June 30, 2026) rose 12.9% YoY to ₹469.47 Cr (₹415.84 Cr) and 7.6% QoQ (₹436.15 Cr) — the QoQ pickup in a retail business is partly seasonal and shouldn't be read as the headline signal. The company posted a consolidated net loss of ₹60.45 Cr, only marginally narrower than the ₹61.61 Cr loss a year ago (-1.9%) and the ₹65.58 Cr loss in Q4 FY26 (-7.8%). Net margin improved to -12.83% of total income from -14.42% YoY and -14.72% QoQ. The more meaningful shift is at the operating level: EBITDA (revenue less cost of goods, employee costs and other opex, before finance costs and depreciation) turned positive at +1.61% of revenue this quarter, versus -1.60% a year ago and -1.64% last quarter — the first positive print in this comparison window. Standalone (parent-only) numbers were smaller in scale: revenue of ₹407.94 Cr and a net loss of ₹34.03 Cr, roughly half the consolidated loss, indicating the subsidiaries add revenue but widen the group's overall loss. Management's May 2026 concall guidance was to reach EBITDA breakeven within FY27 on the back of store productivity, inventory efficiency, the rewards program and judicious online expansion, targeting 8% store EBITDA and minimal reliance on other income; this quarter's swing to positive operating margin (ex-finance costs and depreciation) is consistent with that trajectory, so the operating-margin checkpoint reads as on track even as the bottom line stays loss-making. No formal analyst/street estimates for this quarter turned up in a web search — Spencer's Retail carries no visible sell-side coverage for Q1 FY27 — so vsStreet is unknown. The line still weighing on the P&L is finance costs, which rose 15.8% YoY to ₹46.43 Cr (₹40.10 Cr) even as management had guided to no significant increase in interest costs pending planned debt refinancing — a point of tension against the prior outlook; depreciation was roughly flat (₹23.45 Cr vs ₹23.01 Cr in Q4 FY26, down from ₹26.31 Cr a year ago). On the specific Nature's Basket turnaround management flagged last quarter, the subsidiary's results show just ₹7.88 Cr of revenue against a ₹6.81 Cr net loss this quarter — a loss nearly the size of revenue, with no visible progress yet. The results are unaudited, subject to limited review by S.R. Batliboi & Co. LLP, with no exceptional items disclosed in either statement.

13 Aug 2026, 03:31 pm

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