As of 6 Nov 2026, Spencer's Retail is loss-making on a trailing 12-month basis, with a net loss of ₹248 Cr, so it has no P/E ratio. The share price is ₹19.15, 60% below its 52-week high. Sales fell 10% a year over 3 years. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹1,920 Cr. It is a small-cap company with a market cap of ₹173 Cr, ranked 5th of 7 Department Stores companies by market cap; the shares fell 62% over the past year.
- ₹19.59
- ₹19.90
- ₹18.95
- ₹19.21
- 53.4K
Health check
- ReturnsBehind
−61.6% over a year, better than 1 of 6 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthShrinking
Sales −10.0% a year over 3 years.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags4 to check
Loss-making over the last twelve months.
Small cap
Defensive
Key metrics
- Market cap
- ₹173 Cr
- Small cap
- P/E
- n/a
- Industry 24.5
- Price to book
- −0.19
- Peers 3.92
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 8.9%
- ROCE
- −50.1%
- Peers 14.5%
- Debt to equity
- n/a
- Debt ₹1,920 Cr
- EPS (TTM)
- −₹27.58
- Face value ₹5
- OPM (TTM)
- 0.2%
- Net margin −13.4%
- Sales growth
- +12.9%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.09
- EV/EBITDA 136.4
Strengths and risks
Risks to check
- Loss-making over the last twelve months.
- Negative net worth: liabilities exceed assets.
- 60% below its 52-week high.
- Interest coverage of only −0.1×.
About Spencer's Retail
Spencer's Retail Limited, together with its subsidiaries, engages in developing, conducting, and promoting organised retail and operates departmental and neighbourhood stores under various formats across the country in India. It offers products in various categories, such as food, including fruits and vegetables, staples, beverages, processed food, dairy, fish and meat, and spices and condiments; personal care comprising skin care, hair care, oral care,…
- Headquarters
- Kolkata
- Employees
- 2,648
- Sector
- Consumer Cyclical
- ISIN
- INE020801028
- Website
- spencersretail.com
Price range
- Avg volume (3M)
- 2 L
- 1-year return
- minus 61.6%
- From 52-week high
- minus 60.5%
Peers · Department Stores
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VMMVishal Mega Mart | 94.00 | plus 0.11% | 44,037 | 49.5 | 5.53 | 14.6% | 12.1% | 14.3% | 19.4% | 37.7% | 0.00% | minus 34.6% |
| VMARTV-Mart Retail | 759.20 | minus 1.37% | 6,042 | 46.3 | 6.34 | 14.5% | 14.1% | 13.7% | 15.5% | – | 0.14% | minus 7.5% |
| SHOPERSTOPShoppers Stop | 365.90 | plus 1.54% | 4,033 | – | 14.40 | 7.6% | −4.0% | 4.1% | 8.9% | – | 0.00% | minus 25.6% |
| PATELRMARTPatel Retail | 251.17 | plus 3.66% | 839 | 19.3 | 2.31 | 15.9% | 15.7% | 6.5% | 0.9% | 33.6% | 0.00% | plus 10.5% |
| SPENCERSSpencer's Retail | 19.15 | minus 0.31% | 173 | – | −0.19 | −50.1% | – | 0.2% | −10.0% | – | 0.00% | minus 61.6% |
| OSIAHYPEROsia Hyper Retail | 2.08 | minus 1.89% | 34 | 1.5 | 0.08 | – | 5.6% | 2.7% | – | – | 0.00% | minus 89.8% |
| FELFuture Enterprises | 0.28 | plus 3.70% | 14 | – | 0.01 | −1492.2% | −238.3% | −98.0% | – | – | 0.00% | minus 35.7% |
| Median of 6 peers | – | 0.82% | 2,436 | 32.8 | 3.92 | 14.5% | 8.9% | 5.3% | 12.2% | 35.6% | 0.00% | −30.1% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 416 | 445 | 503 | 436 | 469 | |
| 423 | 449 | 496 | 443 | 462 | |
| −6.7 | −3.5 | 6.7 | −7.1 | 7.6 | |
| −1.6% | −0.8% | 1.3% | −1.6% | 1.6% | |
| 11.4 | 3.7 | 1.3 | 9.3 | 1.8 | |
| 40.1 | 40.8 | 43.4 | 44.8 | 46.4 | |
| 26.3 | 23.3 | 23.1 | 23 | 23.4 | |
| −61.7 | −63.9 | −58.4 | −65.6 | −60.5 | |
| 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | |
| −61.6 | −63.8 | −58.3 | −65.6 | −60.4 | |
| -6.85 | -7.09 | -6.48 | -7.29 | -6.72 |
Profit & loss
- Sales CAGR 3Y
- −10.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,368 | 2,261 | 1,932 | 1,726 | |
| – | minus 4.5% | minus 14.6% | minus 10.7% | |
| 2,339 | 2,270 | 1,975 | 1,734 | |
| 29.6 | −8.8 | −43.3 | −8 | |
| 1.3% | −0.4% | −2.2% | −0.5% | |
| 6.4 | −0.3 | 24.3 | −4.1 | |
| 107 | 139 | 155 | 157 | |
| 132 | 132 | 143 | 95.7 | |
| −7.9 | 14.3 | 70.3 | 15.6 | |
| −211 | −267 | −247 | −250 | |
| 0.2% | 0.1% | 0.1% | 0.1% | |
| −210 | −266 | −246 | −249 | |
| -23.37 | -29.57 | -27.37 | -27.70 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 45.1 | 45.1 | 45.1 | 45.1 | |
| −196 | −461 | −707 | −958 | |
| 1,341 | 1,622 | 1,571 | 1,919 | |
| 439 | 490 | 400 | 390 | |
| 1,629 | 1,696 | 1,310 | 1,396 | |
| 798 | 878 | 619 | 635 | |
| 3.7 | 3.6 | 2.8 | 1.3 | |
| 74.2 | 56.3 | 62.8 | 63.8 | |
| 33.4 | 31.5 | 21.7 | 48 | |
| 720 | 726 | 604 | 647 | |
| 1,629 | 1,696 | 1,310 | 1,396 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 26.7 | 35.1 | 37.4 | −60.2 | |
| −25.6 | 11.3 | −20.2 | −8.1 | |
| −4.8 | −28 | −26.9 | 92.2 | |
| −3.7 | 18.3 | −9.8 | 23.8 | |
| −26.1 | −35.6 | −22 | −9.1 | |
| 0.6 | −0.5 | 15.4 | −69.3 |
Shareholding pattern
- Promoters58.81%
- Public40.97%
- Employee trusts0.22%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 58.81% | 40.97% | 0.00 | |
| 30 Jun 2026 | 58.81% | 41.05% | 0.00 | |
| 31 Mar 2026 | 58.81% | 41.05% | 0.00 | |
| 31 Dec 2025 | 58.81% | 41.05% | 0.00 | |
| 30 Sep 2025 | 58.81% | 41.05% | – |
Major shareholders
Filings & events
News
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