Reported Earnings • May 23
Full year 2026 earnings released: ₹27.66 loss per share (vs ₹27.33 loss in FY 2025) Full year 2026 results: ₹27.66 loss per share (further deteriorated from ₹27.33 loss in FY 2025). Revenue: ₹18.3b (down 8.5% from FY 2025). Net loss: ₹2.49b (loss widened 1.2% from FY 2025). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Announcement • May 14
Spencer's Retail Limited to Report Q4, 2026 Results on May 21, 2026 Spencer's Retail Limited announced that they will report Q4, 2026 results on May 21, 2026 Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. CEO, MD & Director Anuj Singh was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 07
Third quarter 2026 earnings released: ₹6.47 loss per share (vs ₹5.25 loss in 3Q 2025) Third quarter 2026 results: ₹6.47 loss per share (further deteriorated from ₹5.25 loss in 3Q 2025). Revenue: ₹5.04b (down 2.5% from 3Q 2025). Net loss: ₹583.5m (loss widened 23% from 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Announcement • Jan 30
Spencer's Retail Limited to Report Q3, 2026 Results on Feb 06, 2026 Spencer's Retail Limited announced that they will report Q3, 2026 results on Feb 06, 2026 New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹657m free cash flow). Negative equity (-₹7.9b). Earnings have declined by 14% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (₹3.19b market cap, or US$34.7m). New Risk • Nov 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₹657m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹657m free cash flow). Negative equity (-₹7.9b). Earnings have declined by 14% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹4.17b market cap, or US$47.1m). Announcement • Nov 03
Spencer's Retail Limited to Report Q2, 2026 Results on Nov 10, 2025 Spencer's Retail Limited announced that they will report Q2, 2026 results on Nov 10, 2025 Announcement • Aug 12
Spencer's Retail Limited, Annual General Meeting, Sep 11, 2025 Spencer's Retail Limited, Annual General Meeting, Sep 11, 2025, at 15:00 Indian Standard Time. Reported Earnings • Jul 31
First quarter 2026 earnings released: ₹6.84 loss per share (vs ₹4.82 loss in 1Q 2025) First quarter 2026 results: ₹6.84 loss per share (further deteriorated from ₹4.82 loss in 1Q 2025). Revenue: ₹4.16b (down 24% from 1Q 2025). Net loss: ₹616.1m (loss widened 42% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Jul 23
Spencer's Retail Limited to Report Q1, 2026 Results on Jul 30, 2025 Spencer's Retail Limited announced that they will report Q1, 2026 results on Jul 30, 2025 Reported Earnings • May 17
Full year 2025 earnings released: ₹27.33 loss per share (vs ₹29.53 loss in FY 2024) Full year 2025 results: ₹27.33 loss per share (improved from ₹29.53 loss in FY 2024). Revenue: ₹21.0b (down 11% from FY 2024). Net loss: ₹2.46b (loss narrowed 7.4% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • May 10
Spencer's Retail Limited to Report Q4, 2025 Results on May 15, 2025 Spencer's Retail Limited announced that they will report Q4, 2025 results on May 15, 2025 New Risk • Mar 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₹5.5b). Earnings have declined by 16% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (₹5.88b market cap, or US$68.1m). Reported Earnings • Jan 17
Third quarter 2025 earnings released: ₹5.25 loss per share (vs ₹5.68 loss in 3Q 2024) Third quarter 2025 results: ₹5.25 loss per share (improved from ₹5.68 loss in 3Q 2024). Revenue: ₹5.17b (down 21% from 3Q 2024). Net loss: ₹473.4m (loss narrowed 7.5% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Jan 09
Spencer's Retail Limited to Report Q3, 2025 Results on Jan 16, 2025 Spencer's Retail Limited announced that they will report Q3, 2025 results on Jan 16, 2025 Reported Earnings • Nov 07
Second quarter 2025 earnings released: ₹9.67 loss per share (vs ₹7.78 loss in 2Q 2024) Second quarter 2025 results: ₹9.67 loss per share (further deteriorated from ₹7.78 loss in 2Q 2024). Revenue: ₹5.79b (flat on 2Q 2024). Net loss: ₹871.8m (loss widened 24% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Oct 29
Spencer's Retail Limited to Report Q2, 2025 Results on Nov 06, 2024 Spencer's Retail Limited announced that they will report Q2, 2025 results on Nov 06, 2024 New Risk • Oct 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.00b (US$95.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₹4.2b). Earnings have declined by 23% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (₹8.00b market cap, or US$95.2m). Announcement • Jul 26
Spencer's Retail Limited, Annual General Meeting, Aug 21, 2024 Spencer's Retail Limited, Annual General Meeting, Aug 21, 2024, at 15:00 Indian Standard Time. Reported Earnings • Jul 23
First quarter 2025 earnings released: ₹4.82 loss per share (vs ₹7.12 loss in 1Q 2024) First quarter 2025 results: ₹4.82 loss per share (improved from ₹7.12 loss in 1Q 2024). Revenue: ₹5.76b (up 1.1% from 1Q 2024). Net loss: ₹434.3m (loss narrowed 32% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Jul 23
Spencer's Retail Limited Announces Executive Changes Spencer's Retail Limited at its board meeting held on July 22, 2024 announced that resignation of Mr. Vikash Kumar Agarwal as Company Secretary and Compliance Officer with effect from the close of business hours on July 31, 2024, due to his personal reasons. The Board has approved the appointment of Mr. Navin Kumar Rathi (ICSI Membership No. ACS-35075) as Company Secretary and Compliance Officer. Reported Earnings • May 12
Full year 2024 earnings released: ₹29.53 loss per share (vs ₹23.34 loss in FY 2023) Full year 2024 results: ₹29.53 loss per share (further deteriorated from ₹23.34 loss in FY 2023). Revenue: ₹23.7b (down 3.3% from FY 2023). Net loss: ₹2.66b (loss widened 27% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • May 11
Spencer's Retail Limited Announces Resignation of Rahul Nayak as Whole-Time Director, Effective from May 18 2024 Spencer's Retail Limited announced resignation of Mr. Rahul Nayak {DIN: 06491536) as Whole-time Director with effect from the close of business hours on May 18 2024, due to his personal reasons. Reported Earnings • Feb 02
Third quarter 2024 earnings released: ₹5.68 loss per share (vs ₹6.85 loss in 3Q 2023) Third quarter 2024 results: ₹5.68 loss per share (improved from ₹6.85 loss in 3Q 2023). Revenue: ₹6.60b (up 3.3% from 3Q 2023). Net loss: ₹512.0m (loss narrowed 17% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Jan 21
Spencer's Retail Limited Announces the Resignation of Neelesh Bothra as Chief Financial Officer Spencer's Retail Limited announced that Mr. Neelesh Bothra has tendered his resignation from the position of Chief Financial Officer of the Company with effect from January 20, 2024, due to his personal reasons. The succession plan is in place and the Board will appoint and announce the successor in due course. Board Change • Dec 13
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. CEO, MD & Director Anuj Singh was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 14
Full year 2023 earnings released: ₹23.34 loss per share (vs ₹13.48 loss in FY 2022) Full year 2023 results: ₹23.34 loss per share (further deteriorated from ₹13.48 loss in FY 2022). Revenue: ₹24.5b (up 6.6% from FY 2022). Net loss: ₹2.10b (loss widened 73% from FY 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jul 06
Spencer's Retail Limited, Annual General Meeting, Aug 04, 2023 Spencer's Retail Limited, Annual General Meeting, Aug 04, 2023, at 15:00 Indian Standard Time. Announcement • May 25
Spencer's Retail Limited Announces Executive Changes The board of Spencer's Retail has appointed Shashwat Goenka as chairman of the company with effect from May 23, 2023. Sanjiv Goenka stepped down from the position of chairman and director of the company with effect from close of business hours on May 22, 2023. Shashwat, who has been a director on the board of the company, is the sector head - retail & FMCG, of the group. Reported Earnings • May 23
Full year 2023 earnings released: ₹23.34 loss per share (vs ₹13.48 loss in FY 2022) Full year 2023 results: ₹23.34 loss per share (further deteriorated from ₹13.48 loss in FY 2022). Revenue: ₹24.9b (up 8.1% from FY 2022). Net loss: ₹2.10b (loss widened 73% from FY 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 15
Third quarter 2023 earnings released: ₹6.85 loss per share (vs ₹2.97 loss in 3Q 2022) Third quarter 2023 results: ₹6.85 loss per share (further deteriorated from ₹2.97 loss in 3Q 2022). Revenue: ₹6.42b (up 2.9% from 3Q 2022). Net loss: ₹617.5m (loss widened 131% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 14
Spencer's Retail Limited Announces Appointment of Vikash Kumar Agarwal as Company Secretary and Compliance Officer Spencer's Retail Limited at the Board of Directors meeting held on February 14, 2023, based on the recommendation of Nomination and Remuneration committee of the Board, approved the appointment of Mr. Vikash Kumar Agarwal as the Company Secretary and Compliance Officer and also the Key Managerial Personnel of the Company. Mr. Vikash Kumar Agarwal is a member of the Institute of Company Secretaries of India (ICSI) and a qualified Chartered Accountant from the Institute of Chartered Accountants of India (ICAI). Mr. Vikash Kumar Agarwal has rich experience of more than 18 years in diversified conglomerates with exposure in various fields of corporate law and related matters. Announcement • Jan 18
Spencer's Retail Announces to Unveil its Brand New Hyper Market Chain Called Spencer's Value Market Spencer's Retail announced it is all set to unveil its brand new hyper market chain called "Spencer's Value Market". Synonymous to its name, VALUE Market is a new-age hypermarket serving the needs of modern, well - informed and value conscious customers. Spencer's Value Market is all set to launch at 6 locations, namely, Karimnagar, Warangal, Kurnool, Guntur, Bhimavaram & Vijayanagaram between 16 to 22 January'23. The new stores are designed as a one-stop shopping destination by offering wide range of national and regional brands and variety across food and grocery, personal and home care, fresh produce, bakery, general merchandise and apparels, while offering a bold promise of minimum 6% off on all products everyday and ensuring lowest price on daily essentials. With the Value Market format, Spencer's aims to deliver a strong value proposition to its customers by offering best value, rewarding experience every time they shop while ensuring superior quality and service. As Spencer's aspires to be the go-to place for a customers' complete household grocery needs, Value Market will play a key role in enhancing its reach and strengthening the connect with customers. Spencer's is proud to share that it operates 152 stores across 11 Indian cities, namely, Kolkata, Gurgaon, Noida, Banaras, Allahabad, Lucknow, Gorakhpur, Haridwar, Aligarh, Hyderabad and Chennai. Highlights of Spencer's Value Market: Promise of lowest price in the city on daily essential items. Minimum 6% discount on all items. Has wide range of assortment across fruits & vegetables, food items, personal care items, general household needs and apparels. Launch offer of Sugar 1 Kg free with every purchase (min purchase of INR 999). Reported Earnings • Nov 16
Second quarter 2023 earnings released: ₹5.97 loss per share (vs ₹3.18 loss in 2Q 2022) Second quarter 2023 results: ₹5.97 loss per share (further deteriorated from ₹3.18 loss in 2Q 2022). Revenue: ₹6.54b (up 13% from 2Q 2022). Net loss: ₹537.8m (loss widened 88% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 3% per year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Non-Executive Independent Director Debanjan Mandal was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Non-Executive Independent Director Debanjan Mandal was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Is New 90 Day High Low • Nov 02
New 90-day low: ₹72.75 The company is down 15% from its price of ₹85.45 on 04 August 2020. The Indian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: ₹73.00 The company is down 20% from its price of ₹91.60 on 17 July 2020. The Indian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is down 2.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: ₹75.65 The company is down 14% from its price of ₹88.20 on 26 June 2020. The Indian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is down 11% over the same period. 
