Spencers retail has successfully concluded its postal ballot process with shareholders delivering overwhelming approval for the re-appointment of Mr. Anuj Singh as Chief Executive Officer and Managing Director. The special resolution, announced on March 14, 2026, secured exceptional shareholder support across all categories.

Voting Results and Participation

The postal ballot process demonstrated strong shareholder confidence in the company's leadership direction. Key participation metrics revealed comprehensive engagement across shareholder categories:

The resolution sought approval for Mr. Anuj Singh's (DIN: 09547776) re-appointment as CEO, Managing Director, and Key Managerial Personnel for an additional 3-year term.

Comprehensive Shareholder Support

The voting results demonstrated exceptional unity among shareholders, with 99.99% of polled votes supporting the resolution. The detailed breakdown across shareholder categories revealed unanimous backing from key investor groups:

E-Voting Process and Compliance

The postal ballot was conducted entirely through remote e-voting via the NSDL platform, ensuring transparent and secure participation. The process adhered to regulatory requirements under Section 108 and 110 of the Companies Act, 2013, and SEBI Listing Regulations.

S. M. Gupta & Co., the appointed scrutinizer, oversaw the entire voting process and confirmed the resolution's passage with requisite majority. The e-voting facility operated from 9:00 AM on February 13, 2026, to 5:00 PM on March 14, 2026, with votes being unblocked in the presence of independent witnesses.

Resolution Details and Governance

The special resolution specifically addressed the re-appointment of Mr. Anuj Singh for a further 3-year period in his capacity as Chief Executive Officer and Managing Director. Notably, the promoter and promoter group declared no specific interest in this resolution, emphasizing the independent nature of the decision.

The company confirmed that all documentation related to the postal ballot results has been uploaded to its website and NSDL's platform, with physical display at the registered office ensuring complete transparency and regulatory compliance.

Spencer's Retail Limited has announced a postal ballot seeking shareholder approval for the re-appointment of its Chief Executive Officer and Managing Director. The retail chain has initiated the process through electronic voting to secure member consent for key leadership continuity.

Leadership Re-appointment Proposal

The company seeks approval for re-appointing Anuj Singh (DIN: 09547776) as Chief Executive Officer and Managing Director for a three-year term effective March 22, 2026. Singh, who first joined the company on March 22, 2023, brings over 28 years of experience across retail, food services, and consumer goods sectors in India, the Middle East, and Europe.

Compensation Structure

The proposed remuneration package for Singh's re-appointment includes a comprehensive monthly compensation structure totaling Rs. 27.45 lakhs per month.

Additionally, the package includes provisions for perquisites, performance bonuses, periodical increments, and long-term incentives based on company performance, subject to Board approval on Nomination and Remuneration Committee recommendations.

Voting Process and Timeline

The company has established a comprehensive e-voting framework through National Securities Depository Limited (NSDL) for all eligible shareholders.

Company Performance Context

The re-appointment comes amid challenging financial conditions for the retail sector. The company's recent financial performance reflects industry-wide pressures, with total income declining from Rs. 2,06,777.32 lakhs in 2023-24 to Rs. 1,77,551.81 lakhs in 2024-25. The company reported losses before and after tax of Rs. 18,477.82 lakhs in 2024-25, compared to Rs. 21,182.09 lakhs in the previous year.

Strategic Initiatives and Future Outlook

Under Singh's leadership, the company has implemented several strategic initiatives including:

• Enhanced online sales penetration and omni-channel fulfillment capabilities
• Expansion of "Jiffy" by Spencer's for faster customer deliveries
• Launch of "My Spencer's Reward" loyalty program
• Focus on core high-potential markets while rationalizing underperforming stores
• Strengthening non-food and specialty segments to improve margin profiles

The Board of Directors, based on the Nomination and Remuneration Committee's recommendation, believes Singh's extensive retail and marketing experience, leadership capabilities, and deep understanding of consumer behavior continue to provide significant value to the company's growth and strategic direction.