Spencer's Retail Limited has informed the Exchange regarding 'Appointment of Secretarial Auditor'.
SPENCERS · price
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Awaiting price reaction for this filing.
Spencer's Retail reported its FY25 audited results, with standalone revenue from operations falling to ₹1,70,092 lakhs (down ~17% from ₹2,04,922 lakhs in FY24). The company posted a standalone loss after tax of ₹18,477.82 lakhs (vs. ₹21,182.09 lakhs in FY24), while consolidated revenue declined to ₹1,99,520 lakhs with a loss after tax of ₹24,636.23 lakhs. On a consolidated basis, current liabilities exceeded current assets by ₹72,498 lakhs, prompting management to formally address going concern assumptions, citing available credit lines, promoter support, monetisable investments, and a turnaround plan. The statutory auditor S.R. Batliboi & Co. LLP issued an 'Unmodified Opinion' on the results. Separately, M/s. Manoj Shaw & Co. was appointed as Secretarial Auditor for five years (FY26–FY30), subject to shareholder approval.
Negative for shareholders — continued losses, declining revenue, and a stressed balance sheet (current liabilities far exceeding current assets) highlight ongoing financial weakness. However, the clean audit opinion and management's going concern assurances, backed by promoter support and store rationalisation, may limit immediate downside risk. The stock may remain under pressure until revenue stabilises and the path to profitability becomes clearer.