Spencer's Retail Limited has informed the Exchange about Investor Presentation for the 3rd quarter / nine months endedon December 31, 2020.
SRL:SEC:SE:2020-21/77
February 11, 2021
The Manager Listing Department, 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
Dear Sir,
The General Manager Department of Corporate Service, BSE Limited (Scrip Code: 542337) Phiroze Jeejeebhoy Tower Dalal Street Mumbai – 400 001
Sub:- Investor updates/press release for the 3rd quarter / nine months ended December 31, 2020.
Pursuant to Regulation 30 of SEBI (LODR) Regulation, 2015, please find annexed herewith a copy of the Investor update / press release dated February 11, 2021 for the 3rd quarter / nine months ended on December 31, 2020.
The above information is also available on the website of the Company at www.spencersretail.com
Thanking you,
For Spencer’s Retail Limited
Rama Kant (Company Secretary) FCS-4818
Encl: As above
Spencer's Retail Limited (Formerly Known as RP-SG 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
Earnings Presentation – Q3 FY21
Feb-21
| RP-Sanjiv Goenka Group Presentation
1
Key Consolidated performance highlights
For Q3 FY21
• Revenue growth of 9% Q3 FY21 vs Q2 FY21 led by growth in Food Business
and increase in share of non-food sale
• Revenue from Non-Food Categories* >33% Q3 FY21 vs >29% Q2FY21
• Gross Margin % at 19.9% Q3FY21 vs 20.4% Q2FY21
• EBITDA of ₹ 29 Cr and PAT of ₹ (-) 30 Cr reflecting YoY and QoQ recovery
(by 120 bps from Q3FY20 & by 290 bps from Q2FY21)
* Non financial data are of Standalone Business
Feb-21
| RP-Sanjiv Goenka Group Presentation
2
Consolidated Financial Parameters FY21
Quarter
Quarter
Revenue from Operation (₹ Cr)
617
672
Gross Sales per Sq ft (₹)
4600
4700
Q2FY21
Q3FY21
Gross Margin (%)
20.4%
19.9%
Q2FY21
Q3FY21
Trading Area (Mn Sq ft)
1.40
1.44
Feb-21
| RP-Sanjiv Goenka Group Presentation
3
Q2FY21
Q3FY21
Q2FY21
Q3FY21
Consolidated Financials – Profit & Loss
period ended
Growth
Consolidated (₹ Cr)
31-Dec-20 30-Sep-20 31-Dec-19
Y-o-Y
Q-o-Q
9 months ended
31-Dec-20
31-Dec-19
672
538
134
617
491
126
700
549
150
-4%
9% Revenue from operations
Cost of Goods Sold
-11%
7% Gross Margin
19.9%
20.4%
21.5% -158 bps
-45 bps
Gross Margin %
47
72
14
29
47
81
8
5
51
87
7
19
-8%
-17%
101%
0% Employee expenses
-10% Other expenses
87% Other income
EBITDA
1,836
1,464
371
20.2%
143
228
30
30
2,000
1,573
427
21.4%
144
234
19
68
4.3%
0.9%
2.8% 149 bps
341 bps
EBITDA %
1.7%
3.4%
34
24
(30)
31
20
(45)
35
24
(40)
Depreciation
Finance costs
PBT
-4.4%
-7.3%
-5.6% 122 bps
289 bps
PBT %
(0.1)
(30)
(0.3)
(30)
(0.1)
(45)
(0.3)
(45)
-
(40)
(0.3)
(40)
Tax Expenses
PAT
Other Comprehensive Income
Total Comprehensive Income
96
64
(130)
-7.1%
(0.2)
(129)
(0.9)
(130)
90
59
(82)
-4.1%
-
(82)
(0.9)
(82)
*Natures Basket Limited was acquired in July’2019 hence the Financials of 9 months ended Dec’20 are not comparable with previous year
Feb-21
| RP-Sanjiv Goenka Group Presentation
4
Standalone Financials – Profit & Loss
3 months ended
Growth
Y-o-Y
Q-o-Q
31-Dec-20 30-Sep-20 31-Dec-19 3 163 0.25 14.29
7 160 0.76 13.52
- 154 - 13.12
Standalone (₹ Cr)
New Stores added Total Store count TA added (Lac sq.ft) TA exit (Lac sq.ft)
9 months ended
31-Dec-20 7 160 0.76 13.52
31-Dec-19 10 163 0.64 14.29
586 474 112 19.0% 39 59 13 26 4.4% 28 19 (21) -3.5% - (21) (0.4) (21)
526 424 101 19.3% 39 67 6 2 0.4% 24 14 (36) -6.9% - (36) (0.4) (36)
607 479 128
-4% -1% -13% 21.1% -208 bps -6% -14% 84%
41 69 7 25
11% Revenue from operations 12% Cost of Goods Sold 10% Gross Margin
-25 bps
Gross Margin %
0% Employee expenses
-11% Other expenses 101% Other income EBITDA
4.1% 37 bps
405 bps
EBITDA %
26 16 (17)
Depreciation Finance costs PBT
-2.8% -72 bps
332 bps
PBT %
- (17) (0.4) (17)
Tax Expenses PAT Other Comprehensive Income Total Comprehensive Income
1,551 1,254 297 19.1% 117 185 26 20 1.3% 75 49 (104) -6.7% - (104) (1.1) (105)
1,820 1,436 384 21.1% 121 199 19 83 4.6% 71 44 (32) -1.7% - (32) (1.1) (33)
Feb-21
| RP-Sanjiv Goenka Group Presentation
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Standalone Financials – Profit & Loss
period ended
Growth
31-Dec-20 30-Sep-20 31-Dec-19 33 0.89
31 0.84
31 0.84
Y-o-Y
Q-o-Q
Standalone (₹ Cr)
Total Store count TA exit (Lac sq.ft)
9 months ended
31-Dec-20 31 0.84
31-Dec-19 33 0.89
87 65 22 25.6% 7 10 2 7 7.9% 7 5 (5) -5.6% -
(5) 0.1 (5)
91 67 24 26.5% 7 11 1 7 8.2% 7 5 (5) -5.4% -
(5) 0.1 (5)
94 72 22
-8% -11% 1%
-5% Revenue from operations -3% Cost of Goods Sold -8% Gross Margin
23.4% 217 bps
-88 bps
Gross Margin %
-19% -37% 665%
8 16 0 (2)
1% Employee expenses -9% Other expenses 21% Other income EBITDA
-2.6% 1047 bps -31 bps
EBITDA %
8 6 (16)
Depreciation Finance costs PBT
-17.1% 1150 bps -20 bps
PBT %
- (16) 0.1 (16)
Tax Expenses PAT Other Comprehensive Income Total Comprehensive Income
286 211 75 26.1% 20 35 4 23 8.0% 21 16 (14) -4.8% - (14) 0.2 (13)
182 145 38 20.6% 18 44 0 (24) -13.1% 17 12 (53) -29.1% - (53) 0.2 (53)
*Natures Basket Limited was acquired in July’2019 hence the Financials of 9 months ended Dec’20 are not comparable with previous year
Feb-21
| RP-Sanjiv Goenka Group Presentation
6
Business Highlights
Unique Fresh Offerings
Unique & Differentiated F&M offerings
Moving towards OMNI Channel
Major shift of gear in direct to customer channel
Gifting as a Service
Personalized gifting delivered at your doorstep
Winning on Consumer Events
Consumer centric events
• Diwali • •
Christmas Black Friday
Feb-21
| RP-Sanjiv Goenka Group Presentation
7
Business Highlights
Showcase Natures Basket as a Gifting Destination
• Launch of The Gift Studio (TGS) • Engagement with influencers to showcase
Gifting range
• Leveraging digital platforms
Superior Convenience to customers
• Delivery of entire
assortment in 90mins:
Fresh & Fast service
• Convenience for both
Online & Home
Delivery customers
Feb-21
| RP-Sanjiv Goenka Group Presentation
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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 Nature’s Basket) runs 191 stores with a total 14.4 Lacs Square Feet in over 41 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.
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.
Feb-21
| RP-Sanjiv Goenka Group Presentation
9
Spencer’s Retail Limited
Q3 FY21 – Highlights: Consolidated Revenue from Operations at ₹672 Crore;
Consolidated Gross Margin stands at 19.9% Consolidated Revenue Growth of 9% Q3 FY21 vs Q2 FY21
Kolkata: Feb 11, 2021: Spencer’s Retail Ltd reported standalone turnover of ₹586 crore and Gross Margin of 19.0% for quarter ended Dec 31, 2020. Spencer’s operates with 160 Stores with a total trading area of 13.52 Lacs square feet as on Dec 31, 2020.
Natures Basket Ltd reported standalone turnover of ₹87 crore and Gross Margin of 25.7% for the quarter ended Dec 31, 2020. Natures Basket operates with 31 stores with a total trading area of 0.84 Lacs square feet as on Dec 31, 2020. Natures basket continues to be EBITDA positive on quarter on quarter basis.
Unaudited Consolidated Financial Results for the quarter ended Dec 31, 2020:
Revenue from Operations for the quarter ₹ 672 Cr Gross Margin for the quarter ₹ 134 Cr at 19.9% EBITDA ₹29 Cr PAT (-) ₹30 Cr, (-) 4.4% reflecting YoY and QoQ recovery (by 120 bps from Q3FY20 & by
290 bps from Q2FY21)
Unaudited Consolidated Financial Results for the period Apr 2020 to Dec 2020:
Revenue from Operations for the period ₹ 1,836 Cr Gross Margin for the period ₹ 371 Cr at 20.2% EBITDA ₹30 Cr PAT (-) ₹130 Cr
Mr. Shashwat Goenka, Sector Head, said, “We saw an acceleration in the business recovery, as reflected in sequential revenue growth of 9% this quarter. Our food sales have shown growth versus last year, in particular, the Dairy & Fresh categories have driven convenience through rapid deliveries. Non-food sales too reached 85% of pre pandemic levels, led by General Merchandise.
We have also seen sequential improvement in our profitability. The cost savings initiatives are on track. We are focussing on sales growth through our “Out of Store” initiatives such as Phone Delivery and E-commerce using our “Stores as Hubs”.
Mr. Goenka added,” We are happy to share that, we have resumed building new stores. Spencer’s has added 7 new stores during the quarter in existing clusters and Natures Basket too opened its second store in Kolkata in January’21”
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 191 stores (including Nature’s Basket) with a total 14.4 Lacs Square Feet in over 41 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. 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.