Spencer's Retail Limited has informed the Exchange about Investor Presentation
SRL:SEC:SE:2023-24/42
August 10, 2023
National Stock Exchange of India Limited (Symbol: SPENCERS) Exchange Plaza, 5th Floor Plot No. C/1, G-Block Bandra-Kurla Complex Bandra (East), Mumbai – 400 051 (Symbol : SPENCERS)
Dear Sir/Madam,
BSE Limited (Scrip Code: 542337) Phiroze Jeejeebhoy Tower Dalal Street Mumbai – 400 001 (Scrip Code:542337)
Sub: Investor Updates / Press Release for the quarter ended June 30, 2023.
Pursuant to Regulation 30 of SEBI (LODR) Regulation, 2015, please find annexed herewith a copy of the Investor updates / press release dated August 10, 2023 for the 1st quarter ended on June 30, 2023.
The above information is also available on the website of the Company at www.spencersretail.com.
Thanking you. For Spencer’s Retail Limited
Vikash Kumar Agarwal Company Secretary & Compliance Officer
Encl: as above
Spencer's Retail Limited Regd. Office: Duncan House, 31, Netaji Subhas Road, Kolkata-700 001 Corp. Office: RPSG House, 2/4 Judges Court Road, Kolkata-700 027 Tel: +91 33 2487 1091 Web: www.spencersretail.com CIN: L74999WB2017PLC219355
Spencer’s Retail Limited
Q1 FY24 – Highlights: Business Growth of 5% QoQ with high Non-Food Mix Improvement in Gross Margins % by 33bps at 19.6%
OMNI Channel Business is operationally profitable at GMV of ₹62crore,
2 Stores added during the year having Trading Area of 5.7k sq.ft.
Kolkata: Aug 10, 2023: Spencer’s Retail Ltd reported standalone turnover of ₹503 crore and Gross Margin of 18.6% for quarter ended June 30, 2023. Spencer’s operates with 152 Stores with a total trading area of 13.29 Lacs square feet as on June 30, 2023.
Natures Basket Ltd reported standalone turnover of ₹67 crore and Gross Margin of 26.6% for the quarter ended June 30, 2023. Natures Basket operates with 34 stores with a total trading area of 1.03 Lacs square feet as on June 30, 2023.
We have opened 1 Spencer’s store having trading area of 3.5k sq.ft. and 1 Natures Basket store having 2.2k sq.ft. during the quarter.
Unaudited Consolidated Financial Results for the quarter ended June 30, 2023:
Revenue for the quarter ₹ 570 Cr & Gross Margin ₹ 112 Cr at 19.6% EBITDA ₹7 Cr PBT (-) ₹64 Cr OMNI Channel Company ‘ORIPL’ delivered positive EBITDA of 4.2% at GMV ₹62cr
Mr. Shashwat Goenka, Chairman, said, “Our Revenue from operations grew by 5% on a consolidated basis for the quarter despite a challenging operating environment. We continue to focus on our business initiatives which include reducing the controllable costs, enhancing our gross margin %, driving a higher share of the Non-Food business mix %, and sharpening our pricing.
Mr. Goenka added, “Our ‘Out-of-Store’ business has delivered a positive EBITDA for the quarter at GMV of ₹62 crore with a sustainable business mix of ~12%. We will continue to focus & accelerate our Omni channel Business in the near-term.”
About Spencer’s Retail Limited: Spencer’s Retail Limited (www.spencersretail.com | NSE: Spencers | BSE: 542337), 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 electronics to its consumers specialty sections such as Spencer’s Gourmet, Patisserie, Wine & Liquor and Epicuisine section are some of the key differentiators in our hypermarket stores and in Natures Basket Limited L’exclusif, Healthy alternatives and Natures. The first ever hypermarket in India was launched by Spencer’s in Hyderabad in 2000. Today, Spencer’s runs 186 stores (including Natures Basket) with a total 14.32 Lacs Square Feet in over 44 cities in India. Spencer’s brand positioning – Makes Fine Living affordable – embodies its philosophy of delighting shoppers with the best products and services that enable a fine living at reasonable prices, while providing them with a warm, friendly and educational retail environment. Value Market format is ‘maha bachat har din’ on your daily essentials household needs with best quality. Natures Basket Limited is a one shop destination for all multi cuisine cooking needs, healthy food including international food products. ORIPL is an E-commerce company 100% owned Subsidiary of Spencer’s Retail Limited. It is an OMNI Channel platform for Food, Grocery, Fresh, Apparel, General Merchandise and Liquor. Disclaimer: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Spencer’s Retail Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
Earnings Presentation – Q1 FY24
Aug-23
| RP-Sanjiv Goenka Group Presentation
1
Key Consolidated performance highlights
• FY23 business growth of 5% QoQ and improving Gross margin % at 19.6% in Q1FY24
driven by Business growth in both Food & Non-Food category mix (i.e. General
Merchandise & Apparel)
• Highest ever Non-Food Mix reported this Quarter in last 4 years
• Our OMNI Channel Business sustaining EBITDA positive for the at a GMV of ₹62crore for
Q1FY24.
• Added 2 Stores during the quarter having Trading Area of 5.7k sq.ft. Spencer’s added 1
stores having 3.5k sq.ft. and 1 Natures Basket stores having 2.2k sq.ft. in existing
geographies
• Reduction in Store Controllable cost on QoQ basis
Aug-23
| RP-Sanjiv Goenka Group Presentation
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Consolidated Financial Parameters FY24
Quarter
Quarter
Aug-23
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Gross Sales per sqft calculated on Annualised Basis
543 570 Revenue from Operation (₹ Cr)Q4FY23Q1FY2419.3%19.6%Gross Margin (%)Q4FY23Q1FY241.44 1.43 Trading Area (Mn Sq ft) Q4FY23Q1FY241490015500Gross Sales per Sq ft (₹) Q4FY23Q1FY24 Spencers Highlights
Aug-23
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Natures Basket Highlights
Aug-23
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Business Growth of 4% vs Q4FY23
Aug-23
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30-Jun-2331-Mar-2330-Jun-22Y-o-YQ-o-Q31-Mar-231 2 2 New Stores added7 152 151 155 Total Store count151 0.03 0.13 0.31 TA added (Lac sq.ft)0.75 13.29 13.36 13.57 TA exit (Lac sq.ft)13.36 503 482 555 -9%4%Revenue from operations2,180 409 394 446 -8%4%Cost of Goods Sold1,766 94 88 108 -14%7%Gross Margin414 18.6%18.2%19.5%-92 bps40 bpsGross Margin %19.0%38 38 38 -1%0%Employee expenses164 61 53 64 -4%17%Other expenses245 7 4 18 -64%64%Other income30 0.8 1 24 EBITDA34 0.2%0.2%4.4%-423 bps-8 bpsEBITDA %1.6%26 23 24 Depreciation97 26 26 20 Finance costs91 (52) (48) (20) PBT(153) -10.3%-10.0%-3.6%-664 bps-28 bpsPBT %-7.0%- - - Tax Expenses- (52) (48) (20) PAT(153) (0.5) (1.2) (0.3) Other Comprehensive Income(2.0) (52) (49) (20) Total Comprehensive Income(155) 3 months endedGrowthSRL Standalone (₹ Cr) 12 months ended Business Growth of 8% vs Q4FY23
Aug-23
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30-Jun-2331-Mar-2330-Jun-22Y-o-YQ-o-Q31-Mar-2334 35 35 Total Store count35 1.03 1.07 1.07 TA exit (Lac sq.ft)1.07 67 62 67 1%8%Revenue from operations274 49 45 47 5%9%Cost of Goods Sold197 18 17 20 -9%6%Gross Margin78 26.6%27.0%29.4%-277 bps-39 bpsGross Margin %28.4%6 6 6 13%2%Employee expenses26 11 11 14 -24%-2%Other expenses55 5 2 0 1334%119%Other income4 6.1 2.1 0 EBITDA1 9.1%3.3%0.2%892 bps578 bpsEBITDA %0.2%12 8 8 Depreciation34 7 7 5 Finance costs23 (12) (13) (13) PBT(56) -18.3%-20.2%-19.7%148 bps195 bpsPBT %-20.5%- - - Tax Expenses- (12) (13) (13) PAT(56) 0.0 (0.0) 0.0 Other Comprehensive Income0.0 (12) (13) (13) Total Comprehensive Income(56) 3 months endedGrowthNBL Standalone (₹ Cr) 12 months ended ORIPL Standalone
• •
ORIPL is an E-commerce company 100% owned Subsidiary of Spencer’s Retail Limited. OMNI Channel platform for Food, Grocery, Fresh, Apparel, General Merchandise and Liquor.
Aug-23
| RP-Sanjiv Goenka Group Presentation
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30-Jun-2331-Mar-2330-Jun-22Y-o-YQ-o-Q31-Mar-2362 76 73 0.8x0.8xGross Merchandise Value (GMV)302 5.3 5.0 5.1 4.2%4.7%Revenue from operations20.8 Expenses:2.4 2.4 2.0 24%2%Employee expenses8.4 2.6 2.4 3.3 -21%9%Other expenses11.3 0.0 0.1 0.0 Other income0.2 0.2 0.3 (0.2) 207%-28%EBITDA1.3 4.2%6.1%-4%EBITDA %6%0.3 0.3 0.2 12%-5%Depreciation1.0 0.3 0.4 0.3 Finance costs1.4 (0.38) (0.4) (0.8) 52%-6%PBT(1.2) -7.1%-7.1%-16%PBT %-6%- - - Tax Expenses- (0.4) (0.4) (0.8) 52%-6%PAT(1.2) (0.0) (0.0) - Other Comprehensive Income(0.0) (0.4) (0.4) (0.8) 51%0%Total Comprehensive Income(1.3) ORIPL Standalone (₹ Cr) 12 months ended 3 months endedGrowth Consolidated Business Growth of 5% vs Q4FY23
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30-Jun-2331-Mar-2330-Jun-22Y-o-YQ-o-Q31-Mar-23570 543 621 -8.2%5%Revenue from operations2,453 Expenses:458 439 493 Cost of Goods Sold1,960 112 105 128 -13%7%Gross Margin493 19.6%19.3%20.6%-105 bps33 bpsGross Margin %20.1%47 47 46 1%1%Employee expenses199 70 61 76 -9%15%Other expenses291 12 6 18 -35%97%Other income33 7 3 24 EBITDA36 1.3%0.6%3.9%-262 bps64 bpsEBITDA %1.5%38 32 32 Depreciation132 34 33 26 Finance costs115 (64) (61) (34) PBT(211) -11.3%-11.3%-5.4%-583 bps2 bpsPBT %-8.6%(0.1) (0.1) (0.1) Tax Expenses(0.4) (64) (61) (34) PAT(210) (0.5) (1.3) (0.2) Other Comprehensive Income(2.0) (65) (63) (34) Total Comprehensive Income(212) 3 months endedGrowthConsolidated (₹ Cr) 12 months ended 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 electronics to its consumers. specialty sections such as Spencer’s Gourmet, Patisserie, Wine & Liquor and Epicuisine section are some of the key differentiators in our hypermarket stores and in Natures Basket Limited L’exclusif, healthy alternatives and Natures. The first ever hypermarket in India was launched by Spencer’s in Hyderabad in 2000. Today, Spencer’s (including Natures Basket) runs 186 stores with a total 14.32 Lacs Square Feet in over 44 cities in India. Spencer’s brand positioning – MAKES FINE LIVING affordable– embodies its philosophy of delighting shoppers with the best products and services that enable a fine living at reasonable prices, while providing them with a warm, friendly and educational retail environment. Value Market format is ‘maha bachat har din’ on your daily essentials household needs with best quality. Natures Basket Limited is a one shop destination for all multi cuisine cooking needs, healthy food including international food products. ORIPL is an E-commerce company 100% owned Subsidiary of Spencer’s Retail Limited. It is an OMNI Channel platform for Food, Grocery, Fresh, Apparel, General Merchandise and Liquor. Disclaimer: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Spencer’s Retail Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
Aug-23
| RP-Sanjiv Goenka Group Presentation
10