Spencer's Retail Limited has informed the Exchange regarding Re-appointment of M/s. S.R.Batliboi & Co.LLP as Statutory Auditors of the Company for a Second term of 5 (Five) Consecutive Years.
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Spencer's Retail's board met on July 30, 2025 and approved two key items: (1) unaudited financial results for Q1 FY26 (quarter ended June 30, 2025), and (2) re-appointment of M/s. S.R. Batliboi & Co. LLP as Statutory Auditors for a second consecutive 5-year term, effective from the 8th AGM until the 13th AGM in 2030, subject to shareholder approval. On the numbers, standalone revenue from operations was around ₹35,107 lakhs with a loss after tax of ₹3,116 lakhs (EPS of ₹-3.46). On a consolidated basis, revenue was ₹41,584 lakhs with a wider loss of ₹6,161 lakhs. The company flagged a going concern note, stating current liabilities exceed current assets by ₹65,677 lakhs standalone and ₹81,516 lakhs consolidated, but management cited promoter support, unused credit lines, and monetisable investments as adequate cushion.
The auditor re-appointment is routine and signals continuity. However, shareholders should note the continued quarterly losses, deteriorating working capital position, and management's reliance on promoter funding and asset sales to stay afloat, which keeps the stock in a high-risk category despite no change in auditor.