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Spencer's Retail
DSell / AvoidSPENCERS · NSE · Small Cap · Modern Trade — Grocery
Modern Trade — Grocery
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₹78
1D -1.1%1M -4.5%1Y -22%
Fundamental (RQ-100)
0
Technical (TQ-100)
36
Valuation
53
Market cap
₹1.1K Cr
Live decision ratingDSell / Avoid
Fundamental score breakdown
0/100Growth Quality
2.8 / 20
Rev 1Y -8.0%, 3Y CAGR -2.0%, 5Y CAGR 4.0%
Margin & Profitability
0.8 / 15
EBITDA 1.5%, PAT -4.0%
Return on Capital
0.0 / 20
ROCE -3.0%, ROE -12.0%
Cash Flow Quality
1.0 / 15
OCF/EBITDA 0.30
Leverage
0.0 / 10
ND/EBITDA 4.50
Reinvestment
6.0 / 8
Capex/Sales 3.0%
Accounting
2.0 / 7
Governance
4.0 / 5
Red flags (penalty)
-20.0 / 0
Technical score breakdown
36/100Trend Structure
8.0 / 20
↓ 200 · ↓ 50 · ↓ 20
Momentum
3.0 / 15
1Y -22.0%, 1M -4.5%
Volume Dynamics
8.0 / 15
Vol30 —%
Relative Strength
2.0 / 15
1Y -22.0%
MA Cluster
5.0 / 10
Extension
5.0 / 10
—% from 50DMA
Volatility
4.0 / 8
Price Action
1.0 / 7
-100.0% from 52W H
Business
What this company actually does
RP-Sanjiv Goenka group grocery chain. Smaller scale, higher omnichannel ambition.
Stores
145
Dark stores
—
Cities
35
Listed status
Listed
Format exposure
How direct is this play?
Primary formatModern Trade — Grocery
Exposure typeDominant
Revenue visibilityLow
Operating leverage stageInvestment
Policy beneficiaryNone
Data confidenceMedium
Financial snapshot
Live · green dot = live, falls back to curated
Revenue
₹2.4K Cr
Rev 1Y growth
-8%
Rev 3Y CAGR
-2%
EBITDA margin
1.5%
PAT margin
-4.0%
ROE
-12%
ROCE
-3%
OCF/EBITDA
0.30
Net Debt/EBITDA
4.5
Financial statements
Multi-year P&L, balance sheet, cash flow — scraped live from Screener.in
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Valuation
Live multiples + retail-specific (curated)
P/E
—
Forward P/E
—
EV/EBITDA
22
EV/Sales
0.6
P/B
1.4
FCF Yield
2.7%
Trading below 25× EV/EBITDA — relatively reasonable for this segment.
Retail KPIs
The unit-economics that define the format
SSSG
1.5%
Investment thesis
AI-generated · always cite sources before acting
Bull
Long-runway TAM with structural tailwinds.
Base
Earnings growth of ~-2% over the next 3 years assuming margins hold. Multiple compression risk if growth slows; multiple expansion possible if Modern Trade — Grocery GMV outperforms.
Bear
Stretched balance sheet limits flexibility in a downturn. Capital efficiency below cost of capital. Format-level risk: regulation, gig-cess, or competitive pressure compress contribution margin.
Variant perception
Consensus views Spencer's Retail as a challenged player. Our differentiated take: execution risks remain underappreciated even after the price drawdown.
Key monitorables
- Quarterly contribution margin trajectory
- SSSG vs guidance
- Capex vs store/dark-store adds
- Promoter holding and ESOP dilution
Peers
Same primary format · sorted by market cap