Spencers Retail ltd
Introduction
Spencer retail limited is a company part of SP Sanjeev Goenka Group. It is a pioneer multi format indian retailer, focusing on food, fashion, home essentials, and electronics. It operates primarily in Hypermarkets, and convenient stores.
It offers a wide variety of products like fresh fruits and vegetables, packaged foods, FMCG, staples, personal care, electronics, and home fashion.
Company Overview
Spencer retail limited is a prominent indian retailer founded in 1863. The brand positions on “makes fine living affordable”. It has an omni-channel presence at an online platform and quick delivery app named “jiffy”. The company focuses on enhancing its online and offline store presence, via Natures basket particularly.
Promoter and founder introduction
Spencer retail limited was founded originally as Durrant and spencer by
Charles Durrant and John William Spencer in 1863. It is headquartered in Kolkata.
While entangled in the British era, the company was
taken as a modern company RP spencer group.
The current managing director of the company is
Shashank goenka.
Shashank Goenka
John spencer
Financial statement analysis
Income statement
Metric | Mar 2023 | Mar 2024 | Mar 2025 |
Sales | 2,453 | 2,345 | 1,995 |
Expenses | 2,448 | 2,354 | 2,038 |
Operating Profit | 4 | -9 | -43 |
OPM % | 0% | -0% | -2% |
Other Income | 32 | 23 | 104 |
Interest | 115 | 148 | 164 |
Depreciation | 132 | 132 | 143 |
Profit before tax | -211 | -267 | -247 |
Tax % | 0% | -0% | -0% |
Net Profit | -210 | -266 | -246 |
Balance sheet
Metric | Mar 2023 | Mar 2024 | Mar 2025 |
Equity Capital | 45 | 45 | 45 |
Reserves | -196 | -461 | -707 |
Borrowings | 1,341 | 1,622 | 1,571 |
Other Liabilities | 439 | 490 | 400 |
Total Liabilities | 1,629 | 1,696 | 1,310 |
Fixed Assets | 1,132 | 1,211 | 953 |
CWIP | 2 | 1 | 0 |
Investments | 94 | 56 | 43 |
Other Assets | 401 | 428 | 314 |
Total Assets | 1,629 | 1,696 | 1,310 |
Cash flows
Particulars | Mar 2023 | Mar 2024 | Mar 2025 |
Cash from Operating Activity | 27 | 35 | 37 |
Cash from Investing Activity | -26 | 11 | -20 |
Cash from Financing Activity | -5 | -28 | -27 |
Net Cash Flow | -4 | 18 | -10 |
Key Ratios
Particulars | Mar 2023 | Mar 2024 | Mar 2025 |
Debtor Days | 3 | 4 | 3 |
Inventory Days | 49 | 52 | 39 |
Days Payable | 64 | 75 | 72 |
Cash Conversion Cycle | -12 | -19 | -30 |
Working Capital Days | -79 | -99 | -137 |
ROCE % | -8% | -10% | -10% |
Key interpretation and insights
Strength
The company has financial flexibility being the part of SP goenka group.
Weakness
The company has negative book value or shareholder equity, due to losses.
Risk factor
The company relies on debt which increases the financial fragility, this lowers the operational efficiency.
Future outlook
Timely equity infusion or financial support from the promoter group will be critical to sustain operations and fund growth initiatives.
Conclusion
The company is an established player, with a strong brand awareness but also faces competition. Hence, it requires a continuous focus on improving product range, price and customer experience.
Sources
Spencer retail
Scribd
Business standard