Q4 2026 Spencer's Retail Ltd Earnings Call Transcript
Key Points
- Spencers Retail Ltd (BOM:542337) achieved a 6% growth in sales for Q4 compared to the same quarter last year, marking a significant recovery.
- The company maintained healthy margins at 18.8% for the quarter, demonstrating effective cost management.
- The membership rewards program launched in July 2025 gained traction, closing the year with 100,000 members, contributing significantly to sales.
- The online business grew by 37% year-on-year, reaching INR200 crore, with efficient delivery times and high average order values.
- Spencers Retail Ltd (BOM:542337) successfully reduced operating expenses, contributing to a positive EBITDA of INR14 crore for the quarter, up 40% from the previous year.
- Despite the growth in Q4, the full-year sales at a consolidated level were down by 10% due to the strategic exit from non-strategic regions and high loss-making stores.
- Nature's Basket, a subsidiary of Spencers Retail Ltd (BOM:542337), did not perform as well, facing internal challenges such as inventory mismanagement and declining footfall.
- The company's EBITDA for the full year decreased to INR15 crore from INR60 crore the previous year, partly due to the absence of one-off income from lease terminations.
- Spencers Retail Ltd (BOM:542337) faces a significant debt repayment of INR108 crore in the first half of FY27, necessitating refinancing.
- The company has not yet achieved its target of 8% store EBITDA, although progress has been made, indicating ongoing challenges in reaching desired profitability levels.
Ladies and gentlemen, good day, and welcome to the Spencer's Retail Limited 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, Emkay Global Financial Services Limited. Thank you and over to you, sir.
Thank you, Swapnali. Good morning, 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; and Mr. Pankaj Kedia, Executive Director, Investor Relations.
I shall now hand over the call to the management for the opening remarks. Over to you, gentlemen.
'- -
So good morning, everyone, and welcome to Spencer's quarter-four and FY26 results call. With me in the room today, I
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