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TMI BlogSpencer’s eyes fundraising post breakeven for better valuationX X X X Extracts X X X X X X X X Extracts X X X X ..... Spencer’s eyes fundraising post breakeven for better valuation X X X X Extracts X X X X X X X X Extracts X X X X ..... future fundraising and will explore various options at the opportune time, he said. The promoters had in the past indicated that the management was open to induct new investors. "We are looking at a breakeven scenario before we really get into the bandwagon. And in the last 2-3 quarters, specifically, the focus from our board has been to achieve a breakeven, which is led by efficiency and produ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctivity. And now, having demonstrated improved metrics in third quarter, which is a target range of 19.5 per cent gross margin with 13.5 per cent opex, resulting in store EBITDA of 6 per cent, which gives us a breakeven scenario now," the official said. "For us now, we believe that we'll be able to demonstrate this number, and when we talk to potential investors, we will have a much better plan i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n sight over the next few months," he informed analysts in a post-earning concall. He added that the board had passed a resolution on fundraising last year, but the company wanted to demonstrate consistent financial performance before moving forward. The company expects that a financial turnaround is expected to bolster investor confidence as Spencer’s explores avenues for reducing its consolida ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted high net debt, which stood at Rs 883 crore at the end of the third quarter, officials said. In a bid to optimise operations, Spencer’s Retail has adopted a calibrated expansion strategy, focusing on strengthening its presence in existing strong regions while exercising caution in adding new stores. The company exited loss-making regions in South India and NCR during Q2'FY25, shutting down ov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er 40 under-performing stores in these areas unable to manage the intense competition from both localised retailers and multiple quick commerce platforms. This move has helped improve operational efficiency and align resources with profitable markets, officials stated. The company expects its quick delivery service will be a growth driver, which will be operated with some 100 riders. The managem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent said that this segment will grow further as e-commerce operations are optimised and loss-making regions are fully phased out. Increasing sales per square foot across stores is another core strategy to drive revenue growth. Spencer's Retail reported narrowing of its consolidated net loss to Rs 47.34 crore for the third quarter ended December 2024 of the current fiscal and announced its entry ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... into quick commerce space to boost growth. PTI BSM NN X X X X Extracts X X X X X X X X Extracts X X X X
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