STEL Holdings Limited has disclosed a 4.88% shareholding in Spencer's Retail Limited as of March 31, 2026. The entity holds 43,96,082 shares representing the said percentage of the total voting capital of the target company. STEL Holdings confirmed that no encumbrance was created on these shares, directly or indirectly, during the financial year ended March 31, 2026.

The declaration was submitted to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing was addressed to the Audit Committee of the Board of Directors of Spencer's Retail Limited. The disclosure confirms the status of the shareholding and the absence of any pledges or charges on the shares for the specified period.

Shareholding Details

The communication was signed by Sruthi Sindhu, Company Secretary of STEL Holdings Limited, on April 7, 2026.

Spencer's Retail Limited has announced its financial results for the quarter and fiscal year ended March 31, 2026. The company reported a 6% year-on-year (YoY) growth in consolidated sales for Q4FY26, reaching Rs 436 Cr compared to Rs 412 Cr in the same period last year. This performance was driven by an 8.1% sales growth in the Spencer's segment, while Nature's Basket experienced a 9% de-growth during the quarter. Management highlighted that the Spencer's segment delivered its first growth after many quarters, fueled by inventory optimization, a rewards program, and online expansion. The company held an earnings conference call on May 22, 2026, to discuss these audited financial results.

Consolidated Financial Performance

The company achieved a positive EBITDA of Rs 2.2 Cr at the consolidated level for Q4FY26, a significant improvement from the negative EBITDA of Rs 0.2 Cr reported in Q4FY25. However, the Profit Before Tax (PBT) for the quarter stood at a loss of Rs 66 Cr, slightly better than the loss of Rs 68 Cr in the corresponding quarter of the previous year. Gross margins for the quarter remained steady at 18.8%, while operating expenses were tightly controlled at Rs 89 Cr, lower than both the preceding quarter and the same period last year.

Segment-wise Performance

Spencer's standalone sales for Q4FY26 reached Rs 379.5 Cr, an increase of 8.1% YoY. The segment reported an EBITDA of Rs 13.5 Cr, with margins improving to 3.6% of sales compared to 2.8% in the previous year. In contrast, Nature's Basket reported sales of Rs 55 Cr for the quarter, a decline from Rs 61 Cr in Q4FY25. The segment posted a financial EBITDA loss of Rs 4.4 Cr, though this was an improvement over the loss of Rs 4.7 Cr in the prior year.

Annual Highlights FY26

For the full fiscal year FY26, consolidated sales stood at Rs 1,800 Cr, a de-growth of 9.8% compared to Rs 1,995 Cr in FY25. The company noted that the de-growth was impacted by store closures, with like-for-like sales remaining flat. Despite the revenue decline, the company improved its gross margin by 92 basis points to 20.5% and reduced operating costs by Rs 54 Cr compared to the previous year. The annual EBITDA was reported at Rs 15.2 Cr, while the PBT for the year was a loss of Rs 250 Cr.