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Spencer's Retail Limited (Formerly Known As RP-SG Retail Limited) Regd

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Spencer's Retail Limited (Formerly Known As RP-SG Retail Limited) Regd SRL:SEC:SE:2021-22/28 July 23, 2021 The Manager The General Manager Listing Department, Department of Corporate Service, National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor Phiroze Jeejeebhoy Tower Plot No. C/1, G-Block Dalal Street Bandra-Kurla Complex Mumbai – 400 001 Bandra (East), (Scrip Code: 542337) Mumbai – 400 051 (Symbol: SPENCERS) Dear Sir, Sub: Book Closure Notice, copy of Notice calling the Fourth Annual General Meeting and Annual Report for the Financial Year 2020-21 Further to our letter no. SRL:SEC:SE:2021-22/13 dated June 15, 2021 regarding, inter alia, convening the Fourth Annual General Meeting of the Company (“AGM”) on Wednesday, August 18, 2021 at 12:30 P.M. (IST) through Video Conferencing (“VC”) / Other Audio Visual Means facility (“OAVM”), the Register of Members will remain closed from August 11, 2021 to August 18, 2021 (both days inclusive) for the purpose of the said AGM. Copies of the Notice calling AGM and Annual Report for the Financial Year 2020-21, being dispatched to the Shareholders, are attached herewith. You are requested to kindly acknowledge the aforementioned information and oblige. Yours faithfully, For Spencer’s Retail Limited Rama Kant Company Secretary & Compliance Officer FCS-4818 Spencer's Retail Limited (Formerly Known as RP-SG Retail Limited) Regd. Office: Duncan House, 31, Netaji Subhas Road, Kolkata-700 001 Corp. Office: RPSG House, 2/4 Judges Court Road, Kolkata-700 027 Tel: +91 33 2487 1091 Web: www.spencersretail.com CIN: L74999WB2017PLC219355 Spencer’s Retail Limited Integrated Annual Report 2020-21 What’s Inside... CORPORATE OVERVIEW StatUtorY REPORTS 02 Spencer’s at a Glance 73 Notice to Members 06 Chairman‘s Message 84 Board’s Report and Annexures 08 CEO & MD’s Message 92 Management Discussion and Analysis 10 Performance during the Last Year 108 Report on Corporate Governance 12 What Set’s us Apart 126 Additional Shareholder Information 133 Business Responsibility Report Our Strategic Pillars 14 Natures Basket & Spencer’s: A Compatible Match! FINANCIAL StateMENTS 16 The Gift Studio Standalone Financial Statement 18 Our Product Portfolio 22 Our Omni-channel 152 Independent Auditor’s Report 160 Balance Sheet Value Creation Model 161 Statement of Profit & Loss 32 Financial Capital 162 Statement of Changes in Equity 40 Service Capital 163 Cash Flow Statement 46 Intellectual Capital 165 Notes to Standalone Financial Statements 50 Human Capital Consolidated Financial Statements 56 Natural Capital 58 ESG 203 Independent Auditor’s Report 62 Social and Relationship Capital 210 Balance Sheet 66 Stakeholder Engagement 211 Statement of Profit & Loss 68 Strong Corporate Governance 212 Statement of Changes in Equity 70 Board of Directors 213 Cash Flow Statement 71 Our Management Team 215 Notes to Consolidated Financial Statements 72 Corporate Information 256 Form No. AOC.1 Investor Information CIN : L74999WB2017PLC219355 BSE Code : 542337 NSE Code : SPENCERS AGM Date : August 18, 2021 AGM Mode : Through Video Conferencing (‘VC’) or Other Audio Visual Means (‘OAVM’) Disclaimer: This document contain statements about expected future events and financials of Spencer’s Retail Limited, which are forward-looking. By their nature, forward-looking statements require the Company to make Simply scan to assumptions and are subject to inherent risks and uncertainties. There is download significant risk that the assumptions, predictions and other forward-looking statements may not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause assumptions, actual future results and events to differ materially Please find our online version at: from those expressed in the forward-looking statements. Accordingly, this http://www.spencersretail.com/ document is subject to the disclaimer and qualified in its entirety by the investor assumptions, qualifications and risk factors referred to in the Management Discussion and Analysis section of this Annual Report. Changing times call for Game Changers! The year gone by marked a phase of Adaptation. We aspire to serve our consumers with the best-in- class products and allow them to choose from a wide range of assortments At Spencer’s, we have always been agile and kept the valuable lessons of the past. So learning from a sudden pandemic, we aspire to ‘transform’ the way a modern retail transaction happens! We must do so by anticipating future roadblocks and we plan on taking our customers and stakeholders on a smoother journey ahead. ‘Serving Our Customers’ Our ‘Out-of-Store’ transformational initiatives have not only shown the potential to grow but also widened our reach to serve our customers through our OMNI Channel presence in chosen geographies. Makes Fine Living Affordable: These words reflect the very purpose of our brand, and we are dedicated towards providing better shopping experiences by being more accessible to its customers. Spencer’s at a Glance With an experience of over 30 years in the Indian organised retail sector and more than 88,000 products to choose from, Spencer’s, part of the RPSG Group, is emerging as a prominent player in this sector, catering to India’s fine tastes. ~86% Food and Grocery Pure Non-Food ~14% which includes ~8% General Merchandise ~6% Apparel including Electronic & Electrical Constantly evolving to deliver better, Spencer’s has made a mark for itself in Specialty sections comprising: Gourmet Patisserie Liquor and Wine Epicuisine 2 Annual Report 2020-21 Corporate Statutory Financial Overview Reports Statements Natures Basket was added to the Spencer’s family in July 2019. It is a premium grocery store offering a vast range of imported ingredients, healthy food, and organic products, bringing the most exotic items home, in their best authentic form. Over the years, Natures Basket has positioned itself as a one-stop destination for all the multi-cuisine cooking needs and international food products. Natures Basket truly compliments Spencer’s and is in concur with our long term goals. As we work on enhancing the Nature’s Basket promise, we continue ticking boxes. Spencer’s Retail Limited 3 Spencer’s launched its first hyper market store in the year 2000 Continuing a lineage of ‘firsts’, we pride ourselves upon making the retail shopping niche a more consumer-facing and modern experience. Footprint Stores (including Natures 197 Basket) Standalone Spencer’s 164 Stores Spencer’s Large Format 76 Stores Spencer’s Small Format 88 Stores Natures Basket Small 33 Format Stores Lakhs Square Feet 14.7 Total Trading Area, as of 2020-21 (including Natures Basket) Distribution Centres 14 (including Natures Basket) Cities across India 41 (Including Natures Basket) With the acquisition of Natures Basket in July 2019 (a wholly owned subsidiary of Spencer’s Retail Limited), the Company began its journey in the western part of India too. Natures Basket is predominantly present in Mumbai and has 8 stores in Bengaluru, and 2 stores in Pune and Kolkata each. 4 Annual Report 2020-21 Corporate Statutory Financial Overview Reports Statements Aspiration and Expansion: Our core values have always underlined the brand’s efforts irrespective of the scale of the task. Be it our daily goals or the long-term ones, we do it all with a strongly felt passion towards delivering only the best products. Vision Core Values To be a dynamic Customer First: Keep customer conglomerate driven at the core of every action by sustainable growth, efficiency and Execution Excellence: Strive innovation to be the best in everything we do Credibility: Instill trust, confidence and accountability with our actions Agility: Move ahead of time quickly Risk-taking: Dare to go beyond Humaneness: Be fair, respectful, transparent and sensitive Spencer’s Retail Limited 5 Chairman‘s message The year 2020-21 witnessed a fast-moving and uncertain situation, unlike any other year in recent history. It tested human strength and ability to advance amid adversities. The COVID-19 pandemic has had a significant impact on lives and livelihood. As the second wave of pandemic unfolds, the only exit path remains that of a faster vaccine drive. 6 Annual Report 2020-21 Corporate Statutory Financial Overview Reports Statements The Macroeconomic Landscape increased our local consumer connect using ‘Stores as hubs‘ and via hyper local approach for our ‘Out-of-Store‘ India is no exception to the global economic slowdown business. caused by the pandemic. Many industries witnessed tepid demand with periods of supply chain disruption. Our E-commerce business witnessed 6.5x GMV growth This was due to localised Government lockdowns, from 2018-19. There is huge opportunity, not only through limited operating hours of malls & stores and restrictions the current model which is achieving rapid growth but on selling Non-Food. However, the scenario improved it can also scale up much further by adding multiple during the second half of the year with overall economy products, markets, and new geographies. opening up and improved consumer sentiment. This year we saw the benefits of the rapid and robust integration of Natures Basket with Spencer’s ecosystem. Changing Retail Dynamics Natures Basket has benefited from synergies which include The sector performance mirrored the economic lean & efficient operations, cross leveraging products slowdown in the first two quarters of 2020-21, and significant cost savings. The business margins have followed by a robust recovery from the Q3. However strengthened by 521 bps which bodes well for the future. it was impacted again in latter part of Q4 due to the We also launched ‘The Gift Studio‘ (TGS), a bespoke and resurgence in COVID-19 cases. The Food and Grocery one-stop gifting destination for every occasion. segments were the first to recover. The Apparel and General Merchandise category, on the other hand, Responsible Corporate Citizen remained under pressure and faced headwinds even Spencer’s, as a responsible corporate citizen, is committed during the second wave in the last quarter.
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