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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Spencers Retail Ltd

About the Company - Spencers Retail Ltd

Spencer's Retail Ltd. is a Public Limited Listed company incorporated on 08/02/2017 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L74999WB2017PLC219355 and registration number is 219355. Currently Company is involved in the business activities of Retail trade, except of motor vehicles and motorcycles. Company’s Total Operating Revenue is Rs. 1999.62 Cr. and Equity Capital is Rs. 45.07 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Retail - Departmental StoresDuncan House, 31, Netaji Subhas Road, Kolkata West Bengal 700001spencers.secretarial@rpsg.in
http://www.spencersretail.com
Management
NamePosition Held
Dr. Sanjiv GoenkaChairman, Non Ind & Non Exe Director
Mr. Anuj SinghManaging Director & CEO
Mr. Rahul NayakWhole Time Director
Mrs. Shashwat GoenkaNon Exe.Non Ind.Director
Mr. Utsav ParekhInd. Non-Executive Director
Mr. Debanjan MandalInd. Non-Executive Director
Mr. Pratip ChaudhuriInd. Non-Executive Director
Ms. Rekha SethiInd. Non-Executive Director

Spencers Retail Ltd. Share Price Update

Share PriceValue
Today₹121.25
Previous Day₹126.10

Basic Stock Data of Spencers Retail Ltd

Market Cap 1,083 Cr.
Current Price 120
High / Low139/51.4
Stock P/E
Book Value 31.7
Dividend Yield0.00 %
ROCE8.23 %
ROE%
Face Value 5.00

Data Source: screener.in

Competitors of Spencers Retail Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
V-Mart Retail Ltd 3,932 Cr. 1,9882,461/1,591 3860.00 %5.17 %1.18 % 10.0
Osia Hyper Retail Ltd 581 Cr. 49.278.2/23.039.6 13.90.00 %17.5 %9.48 % 1.00
Shoppers Stop Ltd 8,092 Cr. 736890/574112 21.60.00 %15.3 %80.7 % 5.00
Praxis Home Retail Ltd 253 Cr. 20.238.2/11.0 0.720.00 %17.4 %% 5.00
Industry Average211.25 Cr201.637.9105.560%13.84%22.84%5.25

Spencers Retail Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales617672592552582624542621649639543570574
Expenses619658585545569610552615648640546575581
Operating Profit-214771314-1062-1-3-5-7
OPM %-0%2%1%1%2%2%-2%1%0%-0%-0%-1%-1%
Other Income814242313192318536123
Interest20242722242625262730333436
Depreciation31343832303431323334323831
Profit before tax-45-30-35-24-29-27-43-34-54-62-61-64-70
Tax %0%0%0%1%0%0%0%0%0%0%0%0%0%
Net Profit-45-30-35-24-29-27-42-34-54-62-61-64-70
EPS in Rs-5.00-3.29-3.83-2.61-3.18-2.97-4.71-3.73-5.97-6.85-6.79-7.12-7.78

Spencers Retail Ltd Quarterly Chart

Spencers Retail Ltd Profit & Loss

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,1492,1872,6452,4282,3002,4532,327
Expenses1,1532,1782,5872,4202,2752,4482,342
Operating Profit-49578254-15
OPM %-0%0%2%0%1%0%-1%
Other Income9283253763224
Interest47829197115132
Depreciation1525138134126132135
Profit before tax-144-131-164-122-211-258
Tax %-0%43%0%0%0%0%
Net Profit-142-131-164-121-210-257
EPS in Rs0.27-14.51-18.18-13.48-23.34-28.54
Dividend Payout %-0%-0%-0%-0%-0%-0%

Spencers Retail Ltd Profit & Loss Yearly Chart

Spencers Retail Ltd Growth

Compounded Sales Growth
10 Years:%
5 Years:16%
3 Years:-2%
TTM:-4%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:-23%
TTM:-29%
Stock Price CAGR
10 Years:%
5 Years:-4%
3 Years:14%
1 Year:85%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Spencers Retail Ltd Balance Sheet

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital-0404045454545
Reserves50750823414117-196-331
Preference Capital1-0-0-0-0-0
Borrowings-0-08499441,0691,3411,445
Other Liabilities373365471429435439487
Total Liabilities8819141,5941,5591,5651,6291,646
Fixed Assets2392631,0551,0531,0491,1321,128
CWIP01103823
Investments7232435949488
Other Assets635627505468415401427
Total Assets8819141,5941,5591,5651,6291,646

Spencers Retail Ltd Reserves and Borrowings Chart

Spencers Retail Ltd Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -48-13114-25527
Cash from Investing Activity -18922-7-18-40-26
Cash from Financing Activity 38-0-54-3-54-5
Net Cash Flow-199953-24-40-4

Spencers Retail Ltd Financial Efficiency Indicators

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days1279443
Inventory Days1095744515249
Days Payable1236666636764
Cash Conversion Cycle-2-1-13-8-10-12
Working Capital Days-1-2-15-10-12-11
ROCE %2%-6%-7%-2%-8%

Spencers Retail Ltd Financial Efficiency Indicators Chart

Spencers Retail Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters56.51%56.51%58.81%58.81%58.81%58.81%58.81%58.81%58.81%58.81%58.81%58.81%
FIIs5.25%5.68%5.92%7.61%7.35%7.60%7.87%7.98%8.35%8.45%8.45%8.84%
DIIs2.54%2.44%3.00%3.01%3.00%3.00%2.98%2.37%2.37%2.37%2.37%1.99%
Government0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public35.70%35.36%32.12%30.43%30.69%30.45%30.17%30.68%30.31%30.21%30.21%30.20%
Others0.00%0.00%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%
No. of Shareholders68,33269,12862,90562,33663,86363,08562,52161,31860,22658,66057,35851,018

Spencers Retail Ltd Shareholding Pattern Chart

No. of Spencers Retail Ltd Shareholders

This stock is not held by any mutual fund

Spencers Retail Ltd ROCE Trend

Spencers Retail Ltd EPS Trend

Spencers Retail Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue5.005.005.005.005.00
Basic EPS (Rs.)-23.34-13.48-18.97-16.440.30
Diluted EPS (Rs.)-23.37-13.49-18.97-16.440.30
Cash EPS (Rs.)-8.730.47-3.290.923.50
Book Value[Excl.RevalReserv]/Share (Rs.)-16.696.8620.6734.4468.92
Book Value[Incl.RevalReserv]/Share (Rs.)-16.696.8620.6734.4468.92
Revenue From Operations / Share (Rs.)272.11255.15269.39331.94275.00
PBDIT / Share (Rs.)4.0111.186.8111.214.66
PBIT / Share (Rs.)-10.60-2.77-8.08-6.161.46
PBT / Share (Rs.)-23.39-13.53-18.22-16.470.52
Net Profit / Share (Rs.)-23.34-13.48-18.18-16.440.30
NP After MI And SOA / Share (Rs.)-23.34-13.48-18.18-16.440.30
PBDIT Margin (%)1.474.382.523.371.69
PBIT Margin (%)-3.89-1.08-3.00-1.850.53
PBT Margin (%)-8.59-5.30-6.76-4.960.19
Net Profit Margin (%)-8.57-5.28-6.74-4.950.10
NP After MI And SOA Margin (%)-8.57-5.28-6.74-4.950.10
Return on Networth / Equity (%)0.00-196.35-87.93-47.740.43
Return on Capital Employeed (%)-12.39-2.95-8.11-5.122.08
Return On Assets (%)-12.91-7.75-10.50-8.200.26
Long Term Debt / Equity (X)-1.202.050.400.310.00
Total Debt / Equity (X)-3.605.831.250.620.00
Asset Turnover Ratio (%)1.401.311.362.042.38
Current Ratio (X)0.420.500.580.671.61
Quick Ratio (X)0.110.130.180.280.84
Inventory Turnover Ratio (X)0.020.020.020.020.02
Interest Coverage Ratio (X)0.311.040.671.094.97
Interest Coverage Ratio (Post Tax) (X)-0.82-0.25-0.79-0.591.32
Enterprise Value (Cr.)990.131068.38811.97679.971054.70
EV / Net Operating Revenue (X)0.400.460.330.250.48
EV / EBITDA (X)27.3910.6013.247.6328.46
MarketCap / Net Operating Revenue (X)0.190.310.260.220.58
Price / BV (X)-3.1011.733.422.152.32
Price / Net Operating Revenue (X)0.190.310.260.220.58
EarningsYield-0.45-0.16-0.25-0.220.00

Spencers Retail Ltd Profitability Ratios (%)

Spencers Retail Ltd Liquidity Ratios

Spencers Retail Ltd Liquidity Ratios (%)

Spencers Retail Ltd Interest Coverage Ratios (X)

Spencers Retail Ltd Valuation Ratios

Fair Value / Intrinsic Value of Spencers Retail Ltd

Fair Value: ₹72.75

The stock is overvalued by 39.37% compared to the current price ₹120

*Investments are subject to market risks

Strength and Weakness of Spencers Retail Ltd

StrengthWeakness
  1. The stock has a low average Working Capital Days of -8.50, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of -7.67, which is a positive sign.
  3. The company has higher reserves (125.71 cr) compared to borrowings (0.14 cr), indicating strong financial stability.
  1. The stock is trading at a high valuation with an average P/B ratio of -5.23 and average Dividend Yield of -1.86%.
  2. The stock has a low average ROCE of -3.50%, which may not be favorable.
  3. The company has not shown consistent growth in sales (1.86) and profit (-128.00).

Should I Buy Spencers Retail Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Spencers Retail Ltd:
    1. Net Profit Margin: -8.57%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: -12.39% (Industry Average ROCE: 13.84%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): -0.82
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 0.11
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✓ Stock P/E of N/A (Industry average Stock P/E: 38.4)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: -3.60
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Spencers Retail Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE