Recent Price Performance and Market Context
On 12 Jan 2026, Spencers Retail Ltd recorded a day decline of 1.18%, underperforming the Sensex which fell by 0.51%. The stock has been on a downward trajectory for four consecutive days, losing 6.75% in that span. Over the past week, the stock has declined by 6.71%, compared to the Sensex’s 2.68% fall, and over the last month, it has dropped 7.76% while the Sensex declined by 2.49%. The three-month performance is particularly stark, with the stock plunging 30.59% against a 0.78% gain in the Sensex.
Year-to-date, Spencers Retail Ltd has fallen 6.44%, underperforming the Sensex’s 2.43% decline. The stock’s five-year performance shows a loss of 54.46%, in contrast to the Sensex’s 67.92% gain, and over ten years, the stock has remained flat while the Sensex surged 236.87%. This long-term underperformance highlights persistent difficulties faced by the company.
Within the diversified retail sector, Spencers Retail Ltd’s decline contrasts with a sector gain of 2.36% on the same day, emphasising the stock’s relative weakness. The stock is trading below all key moving averages – 5-day, 20-day, 50-day, 100-day, and 200-day – signalling sustained bearish momentum.
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Financial Metrics and Fundamental Assessment
Spencers Retail Ltd’s financial health remains under pressure. The company reported net sales of ₹1,272.86 crores for the nine months ended, reflecting a contraction of 21.09% year-on-year. Correspondingly, the net profit after tax (PAT) stood at a loss of ₹193.81 crores, also down 21.09% compared to the previous period.
The company has declared negative results for three consecutive quarters, underscoring the severity of its financial situation. Its debt-equity ratio for the half-year period reached a high of -2.16 times, indicating a leveraged position that adds to financial strain. Despite this, the average debt-to-equity ratio remains at zero times, suggesting some variability in reported figures.
Operating profit growth has stagnated over the last five years, with an annual growth rate of 0%, reflecting limited expansion in core earnings. The company’s book value is negative, which contributes to a weak long-term fundamental strength rating. This is reflected in its MarketsMOJO Mojo Score of 3.0 and a Mojo Grade of Strong Sell, upgraded from Sell on 14 Oct 2024.
Valuation and Risk Profile
The stock is considered risky relative to its historical valuations. Over the past year, while the stock price has declined by 53.80%, the company’s profits have increased by 8.1%, indicating a disconnect between earnings and market valuation. This divergence may reflect market concerns about sustainability and other factors.
Spencers Retail Ltd’s performance has been below par not only in the near term but also over longer periods. It has underperformed the BSE500 index over the last three years, one year, and three months, signalling persistent challenges in regaining investor confidence and market share.
Shareholding and Sector Position
The majority shareholding remains with promoters, maintaining control over the company’s strategic direction. The diversified retail sector, in which Spencers operates, has shown resilience with gains of 2.36% on the day the stock hit its all-time low, highlighting the stock’s relative underperformance within its industry.
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Summary of Key Indicators
To summarise, Spencers Retail Ltd’s stock has reached a critical low point, trading near its 52-week bottom and significantly underperforming both its sector and benchmark indices. The company’s financials reveal declining sales and persistent losses, with a negative EBITDA and a negative book value contributing to a weak fundamental profile. Its Mojo Grade of Strong Sell reflects these factors, alongside a deteriorated long-term growth outlook and elevated debt levels.
The stock’s consistent underperformance over multiple time horizons, combined with its current valuation risks, paints a challenging picture for the company’s market standing as of early 2026.
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