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Spencers Retail Ltd Q2 FY27 results are out (Jul–Sep 2026) →Revenue ₹462 CrSee revenue, profit and what management said. You are viewing Q3 FY26.
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Spencers Retail Ltd

Q3 FY26Retailing

Spencers Retail Q3 FY26 earnings call: Revenue & Margins

Q3 FY26 earnings call: what management said on revenue, margins and capex.

Revenue
₹503Cr
−2.7% YoY
Net profit
−₹58Cr
Q3 FY25: −₹47 Cr
Margin
1.3%
−1 pp YoY
Price₹30
Market cap₹277 Cr

The short version

Spencer's expects continued growth momentum into Q4 2026 and beyond, driven by both offline and online channels. Spencer's Retail aims for sustainable long-term growth with moderate, pragmatic margin improvement rather than aggressive margin expansion.

From Spencers Retail Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Spencer's expects continued growth momentum into Q4 2026 and beyond, driven by both offline and online channels.
  • Offline growth is supported by membership programs, which have improved customer retention and frequency.
  • Online sales grew 27% YoY in Q3 2026 with plans to increase order volumes from around 240,000 to 300,000 orders per month without hurting unit economics.
  • Sales per square foot (SPSF) improvements are a key focus; the consolidated SPSF is about INR 1,800/month with potential to grow further.
  • The company aims for mid-single-digit top-line growth in Spencer’s offline business in Q4.
  • New store additions will be limited, focusing on leveraging existing store productivity and relocating underperforming stores.
  • Growth will be more pragmatic, focusing on sustainable profitability rather than growth-at-all-costs.

2 more points from Spencers Retail Ltd's call on revenue

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Profitability & Margins

See what Spencers Retail Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Spencer's Retail is not actively adding many new stores in the near term (Q4 and Q1), focusing instead on optimizing sales from the current store footprint.
  • Planned new stores will mainly involve relocating underperforming stores to better locations (e.g., relocations in Lucknow and East regions).
  • The company aims to leverage its existing physical infrastructure to support both offline sales and online fulfillment, avoiding the need for additional dark stores.
  • Investment focus is on driving online growth through the Jiffy platform and improving membership programs rather than large-scale capital expenditure.

2 more points from Spencers Retail Ltd's call on capex

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Top-ranked in Retailing

Ranked on what management guided this quarter

Guidance-ranked
1V2 Retail
Rev 1Mar 3
2Rentomojo
Rev 1Mar 3
3
Rev 2Mar 1
4
Rev 2Mar 1
5
Rev 2Mar 2
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Spencers Retail Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Relevant points on order volumes and growth targets include: - Jiffy (online platform) currently processes around 240,000 orders per month. - Target is to increase orders to approximately 300,000 orders per month without disturbing unit economics. - Q3 average orders per month were close to 235,000. - Jiffy delivered INR 54 crores in sales in Q3 with strong Average Order Value (AOV) of INR 775. - Online business growth is a key focus, but measured and profitable growth is prioritized over aggressive expansion.

2 more points from Spencers Retail Ltd's call on order book

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Spencers Retail Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

Spencers Retail Ltd Q3 FY26 results — key figures

Spencers Retail Ltd Q3 FY26 reported results vs Q3 FY25, ₹ crore
₹ CrQ3 FY26Q3 FY25YoYQ2 FY26QoQ
Revenue503517-2.7%445+13%
Operating profit (EBITDA)712-41.7%-4—
Operating margin1.3%2.3%-1 pp-0.8%+2.1 pp
Profit before tax-58-47—-64—
Net profit (PAT)-58-47—-64—
EPS (₹)-6.47-5.25—-7.08—

Source: reported quarterly figures (Screener), ₹ crore.

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹462 Cr, net loss ₹66 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What Spencer's Retail's management said in earlier quarters

Earlier calls (8)

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Frequently Asked Questions

What were Spencers Retail Ltd Q3 FY26 results?

Spencer's expects continued growth momentum into Q4 2026 and beyond, driven by both offline and online channels. Spencer's Retail aims for sustainable long-term growth with moderate, pragmatic margin improvement rather than aggressive margin expansion.

What is Spencers Retail Ltd share price analysis?

Spencers Retail Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹277 Cr. Investors should review the full earnings analysis for detailed insights.

Is Spencers Retail Ltd planning capital expenditure?

Spencer's Retail is not actively adding many new stores in the near term (Q4 and Q1), focusing instead on optimizing sales from the current store footprint.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.