Spencer's Retail Ltd. · NSE:SPENCERS
Spencer's Retail — Q4 FY26 Earnings Presentation
18 slides from Spencer's Retail's earnings presentation, May 21, 2026
Slide 1: Stock exchange filing cover letter
SRL:SEC:SE:2026-27/10 May 21, 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/Madam,
Slide 2: Q4 FY 26 Results Presentation
Q4 FY 26 Results Presentation 21st May 2026 May-26 | RP-Sanjiv Goenka Group Presentation 1
Slide 3: Q4 growth of 6% driven by strong top line growth at Spencer's
Q4, growth of 6% driven by strong top line growth @ Spencer’s(+8% YoY) • Q4 Sales at Rs436 Crs vs Rs412 Crs in Q4 LY representing • +6% YoY growth • Good sales momentum @ Spencer’s • YoY growth of 8.1% vs Q4 LY. • Margins at 17.4% vs Q4 LY margins of 17.8% (impact of Accounting treatment of membersh
Slide 4: Q4: A quarter with 6% YoY growth at Consolidated Level
Q4: A quarter with 6% YoY growth at Consolidated Level Sales in ₹ Cr Gross Margin % +6% YoY Steady Margins @ 18.8% 21.2% -13 % QoQ (Q3 historically the 19.0% 503 18.8% 436 strongest quarter owing to festive 412 period) Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Operating Exp ₹ Cr EBITDA ₹ Cr Tight Op
Slide 5: Operational performance in FY 26
Operational performance in FY 26... • FY26 Sales at Rs1800 Crs vs Rs1995 Crs in FY 25, de-growth of (-)9.8% YoY • Spencer’s de-growth of 10.5 % vs LY, due to Impact of closed stores (in Q2 FY 25), Like for like (excluding closed stores) flat, Growth in H2 • NBL de-growth of 7.3 % vs LY • Good work o
Slide 6: Efficiency led EBITDA improvement journey over last 3 years
Efficiency led EBITDA improvement journey over last 3 years Sales in ₹ Cr Gross Margin % 2,345 20.2% 20.5% 19.6% *impact of 1,995 closed stores 1,800 FY24 FY25 FY26 FY24 FY25 FY26 Operating Exp ₹ Cr EBITDA ₹ Cr 484 60 Lower Other Income 434 (Lease Reversal in FY25 ) 379 14 15 FY24 FY25 FY26 FY24 FY2
Slide 7: Business Highlights – Spencer's
Business Highlights – Spencer’s May-26 | RP-Sanjiv Goenka Group Presentation 6
Slide 8: Building growth momentum in Spencer's in Q4
Building growth (+8%) momentum in Spencer’s in Q4- first time in many quarters Sales in ₹ Cr Gross Margin % 20.0% 17.8% 17.4% Delivered steady margin at 17.4% (includes adjustment for Membership , intake margins were better than LY) 421 Y-o-Y growth of 8.1% 379 351 Q4 LY Q3 CY Q4 CY Q4 LY Q3 CY Q4 C
Slide 9: Making progress towards path to break even, on a reduced footprint
Making progress towards “path to break even”, on a reduced footprint Sales in ₹ Cr Gross Margin % 2,049 18.9% 19.0% 18.1% *impact of closed stores 1,701 1,523 FY24 FY25 FY26 FY24 FY25 FY26 Operating Exp ₹ Cr EBITDA ₹ Cr 405 56 Good Control on 53 329 Operating Cost 254 0 FY24 FY25 FY26 FY24 FY25 FY26
Slide 10: Jiffy (online segment) Highlights
Jiffy (online segment) Highlights Customer Experience gains are driving durable customer stickiness Faster deliveries are driving higher ratings – the flywheel in action May-26 | RP-Sanjiv Goenka Group Presentation 9
Slide 11: Business Highlights
Business Highlights • Launched automated CRM journeys across Online, Stores & PD — enabling behavior-led personalization to improve retention and reduce churn. • Digital strategy evolved from pure customer acquisition in Q3 to a balanced focus on acquisition + order generation in Q4 — driving strong
Slide 12: Performance of Natures Basket in Q4
Performance of Natures Basket in Q4 Sales in ₹ Cr Gross Margin % 81 25.7% 25.9% 25.6% Steady Margin @ 25.6% YoY down by 9% 61 55 Q4 LY Q3 CY Q4 CY Q4 LY Q3 CY Q4 CY Operating Exp ₹ Cr EBITDA in ₹ Cr 1.2 Tight control on Operating Costs 23 YoY EBIDTA improvement 21 19 (4.4) (4.7) Q4 LY Q3 CY Q4 CY Q4
Slide 13: NB's performance over the last 3 years
NB’s performance over the last 3 years Sales in ₹ Cr Gross Margin % 28.6% 27.7% 296 26.8% 294 272 FY24 FY25 FY26 FY24 FY25 FY26 Operating Exp ₹ Cr EBITDA in ₹ Cr 19 92 Tight control on Operating Costs 14 82 79 (3) FY24 FY25 FY26 FY24 FY25 FY26 May-26 | RP-Sanjiv Goenka Group Presentation 12
Slide 14: Spencer's Financials Q4 and FY 26
Spencer’s Financials Q4 and FY 26 3 months ended Growth 12 months ended Growth SRL Standalone (₹ Cr) 31-Mar-26 31-Dec-25 31-Mar-25 Y-o-Y Q-o-Q 31-Mar-26 31-Mar-25 Y-o-Y - - - New Stores added 1 4 89 90 89 Total Store count 89 89 - - - TA added (Lac sq.ft) 0.05 0.38 7.55 7.74 7.67 TA exit (Lac sq.ft)
Slide 15: Natures Basket Financials Q4 & FY 26
Natures Basket Financials Q4 & FY 26 3 months ended Growth 12 months ended Growth NBL Standalone (₹ Cr) 31-Mar-26 31-Dec-25 31-Mar-25 Y-o-Y Q-o-Q 31-Mar-26 31-Mar-25 Y-o-Y - - - New Stores added 1 2 31 31 32 Total Store count 31 32 - - - TA added (Lac sq.ft) 0.06 0.14 1.18 1.18 1.24 TA exit (Lac sq.
Slide 16: ORIPL Financials Q4 & FY 26
ORIPL Financials Q4 & FY 26 3 months ended Growth 12 months ended Growth ORIPL Standalone (₹ Cr) 31-Mar-26 31-Dec-25 31-Mar-25 Y-o-Y Q-o-Q 31-Mar-26 31-Mar-25 Y-o-Y YoY growth 52% 50 53 33 51.7% -5.6% Gross Merchandise Value (GMV) - Online 197 147 34.2% 25 26 28 -11.4% -6.7% Gross Merchandise Value
Slide 17: Consolidated Financials Q4 & FY 26
Consolidated Financials Q4 & FY 26 3 months ended Growth 12 months ended Growth Consolidated (₹ Cr) 31-Mar-26 31-Dec-25 31-Mar-25 Y-o-Y Q-o-Q 31-Mar-26 31-Mar-25 Y-o-Y 6 % QoQ growth 436.1 502.9 411.9 5.9% -13.3% Revenue from operations 1,800.0 1,995.2 -9.8% Expenses: 354.1 396.3 333.4 Cost of Goods
Slide 18: 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