Q3 2026 Spencer's Retail Ltd Earnings Call Transcript
Key Points
- Spencers Retail Ltd (BOM:542337) reported a solid quarter-on-quarter growth of 13%, indicating strong performance despite the split festive season.
- The company's online sales grew by 27% year-on-year, with the Jiffy platform achieving INR54 crore in sales.
- The membership program launched in July 2025 has shown positive results, with over 70,000 members contributing significantly to sales.
- Gross margins for Spencers Retail Ltd (BOM:542337) remained strong at 20%, reflecting effective inventory optimization and pricing strategies.
- The company achieved positive unit economics for its online business for the first time in Q3, with a contribution margin of INR6 per order.
- Operating expenses increased due to a one-time provision from new labor code requirements, impacting overall costs.
- Nature's Basket experienced a 300 basis point reduction in margins compared to the previous year, attributed to internal negotiations with suppliers.
- The EBITDA for the quarter was INR8 crore, down from INR15 crore in the same quarter last year, indicating challenges in maintaining profitability.
- Despite growth in online sales, the company is cautious about high customer acquisition costs and is focusing on organic growth.
- The company faces competitive pressure from larger quick commerce players, which impacts its market share and growth potential.
Ladies and gentlemen, good day and welcome to Spencer's Retail Limited Q3 FY26 earnings conference call hosted by Emkay Global Financial Services Limited.
(Operator Instructions)
Please note that this conference is being recorded.
I now hand the conference over to Mr. Sunny Bhadra from Emkay Global Financial Services Limited.
Thank you and over to you, sir.
Thank you Palak.
Good evening, everyone. I would like to welcome the management and thank them for this opportunity. We have with us today Mr. Anuj Singh, CEO and MD; Mr. Manjir Basu, CFO; Mr. Anand Kumar, Group Head Investor Relations; and Mr. Pankaj Kedia, Executive Director Investor Relations.
I will now hand over the call to Mr. Anuj Singh for the opening remarks. Over to you, sir.
'- -
Thank you very much and good
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