Spencers Retail Ltd - Stock Valuation and Financial Performance

BSE: 542337 | NSE: SPENCERS | Retailing | Small Cap

Spencers Retail Share Price

91.75 0.95 1.05%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Spencers Retail

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Spencers Retail stock performance -

mw4me loader
P/E Ratio (CD):
0.00
Market Cap:
822.5 Cr.
52-wk low:
51.5
52-wk high:
139.4

Is Spencers Retail Ltd an attractive stock to invest in?

1. Is Spencers Retail Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Spencers Retail Ltd is a below average quality company.

2. Is Spencers Retail Ltd undervalued or overvalued?

The key valuation ratios of Spencers Retail Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Spencers Retail Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Spencers Retail Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Spencers Retail:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Spencers Retail Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%0%0%0%-2.2%0.9%-16.3%-25%-12.6%-31.9%-
Value Creation
Index
NANANANA-1.2-0.9-2.2-2.8-1.9NA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 00001,0432,1872,6452,4282,3002,4532,342
Sales YoY Gr.-NANANANA109.7%20.9%-8.2%-5.3%6.7%-
Adj EPS 00000-0-17.4-19.7-13.6-23.3-27.4
YoY Gr.-NANANANANANANANANA-
BVPS (₹) 0000068.234.120.76.8-16.7-37.3
Adj Net
Profit
0000-14.5-0.2-140-178-122-210-247
Cash Flow from Ops. 0000-47.8-12.9114-2.454.626.7-
Debt/CF from Ops. 0000-0-0.11.7-105.16.620.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA18.7%-2.5%6.7%
Adj EPS NANANANA
BVPSNANA-178.9%-345.1%
Share Price - -10.3% 9.3% 74.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0000-2.7-0-34.1-77.2-98.5474.7101.3
Op. Profit
Mgn %
0000-0.40.42.20.30.7-0.8-0.1
Net Profit
Mgn %
0000-1.4-0-5.3-7.3-5.3-8.6-10.5
Debt to
Equity
0000000.71.45.9-3.6-
Working Cap
Days
00000715358595330
Cash Conv.
Cycle
00000-8-9-11-10-11-44

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 101.30%

Sales growth has been subdued in last 3 years -2.48%

Sales growth is not so good in last 4 quarters at -4.29%

Latest Financials - Spencers Retail Ltd.

Standalone Consolidated
TTM EPS (₹) -21.9 -27.4
TTM Sales (₹ Cr.) 2,054 2,342
BVPS (₹.) -5.3 -37.3
Reserves (₹ Cr.) -93 -381
P/BV -17.18 -2.45
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 51.52 / 139.40
All Time Low / High (₹) 51.52 / 227.45
Market Cap (₹ Cr.) 822
Equity (₹ Cr.) 45.1
Face Value (₹) 5
Industry PE 107.9

Management X-Ray of Spencers Retail:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Spencers Retail

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,0432,1872,6452,4282,3002,453
Operating Expenses 1,0472,1782,5872,4202,2842,474
Manufacturing Costs36801049596110
Material Costs8371,7232,0791,9321,8231,960
Employee Cost 76148191193189199
Other Costs 98228213199176205
Operating Profit -4957815-21
Operating Profit Margin (%) -0.4%0.4%2.2%0.3%0.7%-0.9%
Other Income 92832538557
Interest 47829197115
Depreciation 1525138134126132
Exceptional Items 000000
Profit Before Tax -144-131-164-122-211
Tax 020000
Profit After Tax -142-131-164-121-210
PAT Margin (%) -1.4%0.1%-4.9%-6.7%-5.3%-8.6%
Adjusted EPS (₹)0.00.3-16.3-18.2-13.5-23.3
Dividend Payout Ratio (%)0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 50754827418662-151
Share Capital 04040454545
Reserves 50750823414116-196
Minority Interest000000
Debt11171233324482
Long Term Debt118875127181
Short Term Debt0083158197301
Trade Payables280312374331333344
Others Liabilities 8553775809847954
Total Liabilities 8739141,5941,5591,5651,629

Fixed Assets

Gross Block3193661,2021,2451,2741,480
Accumulated Depreciation80104147191225349
Net Fixed Assets2392631,0551,0531,0491,132
CWIP 0110382
Investments 72324359494
Inventories242270248267260265
Trade Receivables374566302720
Cash Equivalents 10022081581818
Others Assets24893109114110100
Total Assets 8739141,5941,5591,5651,629

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -48-13114-25527
PBT -144-131-164-122-211
Adjustment 108213218166221
Changes in Working Capital -44-2140-52102
Tax Paid 0-3-7-4115
Cash Flow From Investing Activity -18922-7-18-40-26
Capex -7-45-43-23-24-25
Net Investments -188472034-16-1
Others 620-167000
Cash Flow From Financing Activity 380-54-3-54-5
Net Proceeds from Shares 0007700
Net Proceeds from Borrowing 0020-116776
Interest Paid 00-81-91-96-115
Dividend Paid 000000
Others 380621-2534
Net Cash Flow -199953-24-40-4
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-2.780.45-31.82-71.23-98.08N/A
ROCE (%)-1.882.12-9.65-16.05-5.78N/A
Asset Turnover Ratio1.322.682.31.681.591.68
PAT to CFO Conversion(x)N/A-6.5N/AN/AN/AN/A
Working Capital Days
Receivable Days1267743
Inventory Days773933363936
Payable Days1226360676763

Spencers Retail Ltd Stock News

Spencers Retail Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Spencers Retail on 28-Mar-2024 16:01 is ₹91.75.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Spencers Retail stood at ₹822.5.
The latest P/E ratio of Spencers Retail as of 28-Mar-2024 16:01 is 0.00.
The latest P/B ratio of Spencers Retail as of 28-Mar-2024 16:01 is -17.18.
The 52-week high of Spencers Retail is ₹139.4 and the 52-week low is ₹51.52.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Spencers Retail is ₹2,054 ( Cr.) .

About Spencers Retail Ltd

Since 1863, Spencer’s has been a part of the Indian retail landscape. At one time, the Spencer’s Empire stretched from Peshawar to Cochin, from Karachi to Chittagong, spanning the length and width of undivided India. Originally owned by a British gentleman - yes, there was a Mr. Spencer (John William Spencer, to be precise) - it acquired Indian ownership in the 1960s, and became part of the RPG Group in 1989.

In 1995, RPG Enterprises, the flagship company of the RPG Group, launched 'Foodworld' as a joint venture with Hong-Kong based Dairy Farm International. The joint venture, which operated supermarkets under thename 'Foodworld' and hypermarkets under the name 'Giant', was terminated in 2006. RPG retained 48 of the 93 stores it owned. These were re-furbished and their launch under the brand name, Spencer’s, kicked off a new phase in both the history of the Spencer’s brand, and retail in India.

Since inception Spencer’s has been a consumer-centric brand, constantly innovating, pioneering formats, evolving over time but always keeping consumer needs and satisfaction center-stage. Back in 1920, the company was the first grocery chain in India. In 1980, it became the first supermarket chain, and in 2001, it introduced India to the joys of hypermarket shopping.

What has remained unchanged for 150 years is the trust that the Spencer’s brand evokes. To the consumer, it carries the promise of innovation, quality, and service; the confidence that they will always be able to find a Spencer’s store at a convenient location; that it will have a pleasant ambience; and that it will offer a wide range of products at affordable prices.

Business area of the company

Spencer's Retail is a modern retailer providing a wide range of quality products to discerning young customers - well-travelled citizens of the world, looking out for authentic flavors and experiences in a fun-filled shopping environment. Its brand positioning -Makes Fine Living Affordable- embodies this approach, delighting shoppers with the best products and services that enable a fine living at reasonable prices while providing them with a warm, friendly and knowledgeable retail environment.

Spencer’s operates 2 distinct retail formats:

Convenience stores: These are neighborhood stores that cater to the daily and weekly top-up shopping needs of consumers. Ranging from 1,500 to 15,000 sq. ft. in size, they stock an assortment of fruits and vegetables, food and non-food FMCG products, staples and frozen foods. The larger of these stores, having a floor area of more than 10,000 sq.ft., usually also offer a selected range of baked goodies, frozen foods, personal and home care products, baby care essentials, basic wear and electrical equipment.

Hypermarkets: Spencer's hypermarkets are megastores that combine a supermarket with a department store. Ranging from 15,000 sq. ft to over 50,000 sq. ft. in size, they stock a wide and deep assortment of food, fashion, home and personal care, general merchandise, electrical and electronics, staples, frozen foods, and specialty sections, all under one roof.

Awards

  • 2001: Rabo india Finance, F&A award for the year 2001
  • 2004: Retail Asia Pacific, Best of the best, 2004
  • 2004: Retail Asia Pacific, Top retailer 2004
  • 2005: Retail Asia Pacific,Top retailer 2005
  • 2005: ICICI Bank retail excellence award 2005
  • 2006: “Turnaround Retailer of the Year”, 2006
  • 2007: India Retail Forum 'Most Evolved Retailer of the Year', India Retail Forum, 2007
  • 2008: Food Forum of India Coca Cola Golden Spoon “Most Admired Food & Grocery Retailer, Convenience and Express Formats”, 2008
  • 2009: Spencer's was awarded the first runners-up in the Visual Merchandizing Category at the In-store Asia, 2009.
  • 2010: SAP ACE Award For Customer Excellence, 2010
  • 2010: Ranked 47th Among Top 50 service Brands in India, 2010 in the Brand Equity – AC Nielson Brand Survey, 2010.
  • 2010: Ranked 3rd Among the Most Trusted Brands in Retail. 2010 in the Brand Equity – AC Nielson Brand Survey, 2010.
  • 2010: BEST PRACTICE AWARD, National FMCG meet, 2010
  • 2011: Images Excellence Award For Pioneering Retail in East at the “East India Retail Summit Awards, 2011
  • 2013: Ranked 2nd in India’s most respected companies in Retail in a study conducted by Business World in 2013.
  • 2013: Spencer’s Retail wins the Most Admired Hypermarket Retailer of the Year at Images Retail Awards 2013.
  • 2013: “Most Admired Retail Company of the Year (East India) at the East India Retail Summit 2013.
  • 2014: “Most Admired Food & Grocery Retailer of the Year Award for Largest Expansion, Highest Trading Density, & Same Store Sales Growth.”, 2014.
  • 2014: “Best VM & Retail Design in the category Hypermarkets ( >15,000 sq.ft)”, 2014
  • 2014: Spencer’s Retail wins Commendation Certificate for Strong Commitment to Excel in Food Safety for Quest Hyper, Kolkata by CII National Awards for Food Safety - 2014
  • 2016: Spencer's Retail has won Coca Cola Golden Spoon Awards as the Most Admired Food & Grocery Retailer of the Year for Merchandising, Marketing, Consumer Promotions & Customer Service at the India Food Forum 2016 held in Mumbai last evening.
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