Spencer's Retail Ltd. · NSE:SPENCERS
Spencer's Retail — Q3 FY2026 Earnings Presentation
12 slides from Spencer's Retail's earnings presentation, Feb 6, 2026
Slide 1: Exchange filing cover letter for investor update
SRL:SEC:SE:2025-26/60 February 6, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor Phiroze Jeejeebhoy Tower Plot No. C/1, G-Block Dalal Street Bandra-Kurla Complex Mumbai – 400 001 Bandra (East), (Scrip Code: 542337) Mumbai – 400 051 (Symbol: SPENCERS) Dear Sir/Mad
Slide 2: Q3 FY 26 Results Presentation
Q3 FY 26 Results Presentation 6th February 2026 Feb-26 | RP-Sanjiv Goenka Group Presentation 1
Slide 3: Q3 saw good QoQ performance, YoY impact of split festive season
Q3 saw good QoQ performance , YoY impact of split festive season • Q3 Sales at Rs503 Crs vs Rs445 Crs in Q2 and Rs517 Crs in Q3 LY • +13.0% QoQ growth • -2.7% YoY (owing to split festive season between Sept & October) • Good sales momentum @ Spencers • QoQ growth of 11.8%. YoY vs Q3 LY of -2.4%. • I
Slide 4: QoQ improvement, YoY impact of split festive season
QoQ improvement , YoY impact of split festive season Quarter 3 Quarter 3 Revenue from Operation (₹ Cr) Gross Sales per Sq ft (₹) + 13 % QoQ 1872 - 2.7% YoY 1781 1671 517 503 445 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 QoQ EBITDA EBITDA (₹ Cr) Steady Margins @ Gross Margin (%) 21.2%, improvement @
Slide 5: Strong QoQ Sales growth @ Consolidated level
Strong QoQ Sales growth @ Consolidated level 3 months ended Growth 9 months ended Consolidated (₹ Cr) 31-Dec-25 30-Sep-25 31-Dec-24 Y-o-Y Q-o-Q 31-Dec-25 31-Dec-24 13 % QoQ growth 502.9 445.1 517.0 -2.7% 13.0% Revenue from operations 1,363.9 1,583.3 Expenses: 396.3 351.6 407.0 Cost of Goods Sold 1,0
Slide 6: Business Highlights
Business Highlights Feb-26 | RP-Sanjiv Goenka Group Presentation 5
Slide 7: Sales and EBITDA Improvement @ Spencer's
Sales and EBITDA Improvement @ Spencer’s Sales in ₹ Cr Gross Margin % 19.7% 19.6% 20.0% Higher Margins 431 421 Q-o-Q growth of 12% 376 Y-o-Y de-growth of 2.4% Q3 LY Q2 CY Q3 CY Q3 LY Q2 CY Q3 CY Operating Exp ₹ Cr EBITDA in ₹ Cr 17 Q3 costs include one off Higher costs on 15 EBITDA slightly lower th
Slide 8: Good QoQ growth, YoY impacted by split festive season
Good QoQ growth , YoY impacted by split festive season At YTD Level significant reduction in PBT Losses (-49 Crs) 3 months ended Growth 9 months ended SRL Standalone (₹ Cr) 31-Dec-25 30-Sep-25 31-Dec-24 Y-o-Y Q-o-Q 31-Dec-25 31-Dec-24 - - - New Stores added 1 2 90 90 90 Total Store count 90 90 - - -
Slide 9: Business Highlights
Business Highlights • Diwali Gifting & Diwali Gourmet Parties Campaigns • 1st Anniversary of Ahmedabad Store with Engaging Activities like Stand-up comedy show, Sip & Paint Workshop, Chef Masterclass • New App Launch Campaign • Children’s Day Celebration • Wine & Cheese Event – Bengaluru Stores • Bl
Slide 10: Sales and EBITDA Improvement @ NB in Q3
Sales and EBITDA Improvement @ NB in Q3 Sales in ₹ Cr Gross Margin % 86 28.9% 81 27.6% 25.9% QoQ & YoY reduction in Margin QoQ growth of 19% YoY down by 6% 68 Q3 LY Q2 CY Q3 CY Q3 LY Q2 CY Q3 CY Operating Exp ₹ Cr EBITDA in ₹ Cr 25 Tight control on Operating Costs 21 1.2 QoQ and YoY EBIDTA improveme
Slide 11: QoQ Sales growth, however big margin drop (-170 bps)
QoQ Sales growth, however big margin drop (-170 bps) 3 months ended Growth 9 months ended NBL Standalone (₹ Cr) 31-Dec-25 30-Sep-25 31-Dec-24 Y-o-Y Q-o-Q 31-Dec-25 31-Dec-24 - - 2 New Stores added 1 2 31 31 34 Total Store count 31 34 - - 0.14 TA added (Lac sq.ft) 0.06 0.14 1.18 1.18 1.29 TA exit (La
Slide 12: Thank You
Thank You About Spencer’s Retail Limited: Spencer’s Retail Limited, part of RP-Sanjiv Goenka Group, is a multi-format retailer providing a wide range of quality products across categories such as FMCG, fashion, food, staples, general merchandise, personal care, home essentials, electrical and electr