Recent Price Movement and Market Context
On 25 Nov 2025, Spencers Retail’s stock price touched Rs.43.4, its lowest level in the past year and an all-time low. The stock has recorded a consecutive two-day decline, resulting in a cumulative return of -3.83% over this period. This underperformance is notable against the backdrop of the broader market, where the Sensex opened higher at 85,008.93 points, gaining 108.22 points (0.13%) before trading slightly lower at 84,964.83 points (0.08%). The Sensex remains close to its 52-week high of 85,801.70, trading above its 50-day and 200-day moving averages, signalling a generally bullish market environment.
In contrast, Spencers Retail has underperformed its sector by 1.19% on the day, with the stock trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This persistent weakness highlights the stock’s struggle to gain upward momentum despite positive market conditions.
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Financial Performance and Key Metrics
Spencers Retail’s financial indicators over recent periods reveal challenges that have contributed to the stock’s decline. The company’s net sales for the first nine months stand at Rs.1,272.86 crores, reflecting a contraction of 21.09% compared to the previous period. Correspondingly, the profit after tax (PAT) for the same period is reported at a loss of Rs.193.81 crores, also showing a decline of 21.09%.
The company’s debt profile remains elevated, with a debt-to-equity ratio averaging 2.45 times and a half-year figure reaching -2.16 times. This level of leverage indicates a significant reliance on borrowed funds relative to shareholder equity, which may weigh on financial flexibility.
Operating profit trends over the last five years show a negative annual growth rate of approximately -350.95%, signalling persistent difficulties in generating operating earnings. Additionally, the company has reported negative results for three consecutive quarters, underscoring ongoing financial strain.
Stock Valuation and Market Performance
Over the past year, Spencers Retail’s stock has generated a return of -47.04%, markedly underperforming the Sensex, which recorded a positive return of 6.06% during the same period. The stock’s 52-week high was Rs.97, indicating a substantial decline from its peak.
Relative to its historical valuations, the stock is trading at levels considered risky. It has consistently underperformed the BSE500 index over the last three annual periods, reflecting challenges in maintaining competitive market positioning and investor confidence.
Shareholding and Sector Position
The majority shareholding in Spencers Retail remains with the promoters, maintaining control over company decisions. The company operates within the diversified retail sector, which has seen varied performance across peers and market caps.
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Comparative Market Trends
While Spencers Retail faces headwinds, the broader market environment shows signs of resilience. The BSE Mid Cap index gained 0.11% on the day, leading market segments. The Sensex’s position near its 52-week high and its trading above key moving averages indicate a generally positive market sentiment, contrasting with the stock’s downward trajectory.
This divergence highlights the specific pressures on Spencers Retail relative to the overall market and sector peers.
Summary of Key Concerns
The stock’s fall to Rs.43.4, its lowest in 52 weeks, is underpinned by several factors: declining sales and profitability, elevated debt levels, negative operating profit growth over multiple years, and consistent quarterly losses. These elements have contributed to the stock’s sustained underperformance relative to benchmarks and peers.
Trading below all major moving averages further emphasises the current bearish trend in the stock’s price action.
Outlook Considerations
While the stock’s recent performance reflects ongoing challenges, it remains a subject of close observation within the diversified retail sector. The company’s financial metrics and market behaviour provide a comprehensive picture of its current standing without speculation on future developments.
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