Spencer's Retail Ltd. · NSE:SPENCERS
Spencer's Retail — Q2 FY27 Earnings Presentation
14 slides from Spencer's Retail's earnings presentation, Nov 5, 2026
Slide 1: Exchange filing cover letter for investor update
SRL:SEC:SE:2026-27/41 November 5, 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: Q2 FY 27 Results Presentation
Q2 FY 27 Results Presentation 5th November 2026 Nov-26 | RP-Sanjiv Goenka Group Presentation 1
Slide 3: Q2 growth of 4% driven by top line growth @ Spencer's (+7% YoY)
Q2 growth of 4% driven by top line growth @ Spencer’s(+7% YoY) • Q2 Sales at Rs462 Crs vs Rs445 Crs in Q2 LY • +4% YoY growth • Driven by strong sales momentum @ Spencer’s • YoY +7.1% vs Q2 CY. (Offline : +4% and Online : +31%) • Margins at 17.8% (19% without accounting reclass) vs Q2 LY margins of
Slide 4: Q2: YoY (consolidated) growth at 4%, 116 bps improvement in EBITDA
Q2: YoY (consolidated) growth at 4%, 116 bps improvement in EBITDA Sales in ₹ Cr Gross Margin % Margins @ 19% +4% YoY NBL margins down by 5.5 21.0% crs at 23.5% 19.8% 19.0% SRL margin steady at 18%, 445 469 462 lower due to accounting treatment *GM% at 20% in Q2CY and 20.6% in Q1CY without accountin
Slide 5: Business Highlights – Spencer's
Business Highlights – Spencer’s Nov-26 | RP-Sanjiv Goenka Group Presentation 4
Slide 6: Spencer's (standalone): Strong (+7%) Growth & tight cost controls led EBITDA improvement
Spencer’s (standalone) : Strong (+7%) Growth & tight cost controls led EBITDA improvement Sales in ₹ Cr Gross Margin % Delivered steady margin at 17.8% Q2 not LFL given accounting for membership Y-o-Y growth of 7% cashback 408 403 19.6% 376 18.2% 17.8% *GM% at 19% in Q2CY and 19.2% in Q1CY without a
Slide 7: Jiffy (online segment) Highlights
Jiffy (online segment) Highlights Customer Experience gains are driving durable customer stickiness Nov-26 | RP-Sanjiv Goenka Group Presentation 6
Slide 8: Y-o-Y de growth @ NB in Q2
Y-o-Y de growth @ NB in Q2 Sales in ₹ Cr Gross Margin % 27.6% 27.4% 68 Margins @ 23.5% YoY de-growth of 17% 59 23.5% 56 Q2 LY Q1 CY Q2 CY Q2 LY Q1 CY Q2 CY Operating Exp ₹ Cr EBITDA in ₹ Cr Tight control on Operating Costs Drop in EBITDA 21 20 20 (0.6) (2.6) (7.0) Q2 LY Q1 CY Q2 CY Q2 LY Q1 CY Q2 CY
Slide 9: Business Highlights
Business Highlights JULY | TASTE, CULTURE & EXPERIENCE AUGUST | COMMUNITY, CULTURE & COLLABORATIONS SEPTEMBER | EXPERIENTIAL ACTIVATIONS & COMMUNITY ENGAGEMENT Theme: Culinary Discovery + Experiential Retail + Digital Theme: Community Engagement + Lifestyle Partnerships + Culinary Experiences Amplif
Slide 10: Consistent Sales Growth @ Spencer's: Q2 +7.1% and H1 +12.2%, EBITDA Improves to 4%+
Consistent Sales Growth @ Spencer’s: Q2 +7.1% and H1 +12.2%, EBITDA Improves to 4%+ of Sales in Q2 and H1 3 months ended Growth 6 months ended SRL Standalone (₹ Cr) 30-Sep-26 30-Jun-26 30-Sep-25 Y-o-Y Q-o-Q 30-Sep-26 30-Sep-25 1 - 1 New Stores added 1 1 90 89 90 Total Store count 90 90 0.02 - 0.05 T
Slide 11: Natures Basket Financials Q2
Natures Basket Financials Q2 3 months ended Growth 6 months ended NBL Standalone (₹ Cr) 30-Sep-26 30-Jun-26 30-Sep-25 Y-o-Y Q-o-Q 30-Sep-26 30-Sep-25 - - 1 New Stores added - 1 30 31 31 Total Store count 30 31 - - 0.06 TA added (Lac sq.ft) - 0.06 1.16 1.18 1.18 TA exit (Lac sq.ft) 1.16 1.18 Sales de
Slide 12: ORIPL Financials Q2
ORIPL Financials Q2 3 months ended Growth 6 months ended ORIPL Standalone (₹ Cr) 30-Sep-26 30-Jun-26 30-Sep-25 Y-o-Y Q-o-Q 30-Sep-26 30-Sep-25 YoY growth 29% 68 59 52 29.2% 14.5% Gross Merchandise Value (GMV) - Online 127 93 20 21 26 -22.3% -6.1% Gross Merchandise Value (GMV) - PD 42 52 8.8 7.9 6.3
Slide 13: Sales growth led EBITDA improvement @ Consolidated Level
Sales growth led EBITDA improvement @ Consolidated Level 3 months ended Growth 6 months ended Consolidated (₹ Cr) 30-Sep-26 30-Jun-26 30-Sep-25 Y-o-Y Q-o-Q 30-Sep-26 30-Sep-25 4 % YoY growth 462.0 469.5 445.1 4% -2% Revenue from operations 931.4 861.0 Expenses: 374.1 376.7 351.6 Cost of Goods Sold 7
Slide 14: 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