SPECIALITY - Speciality Restaurants Limited Share Price

Leisure Services

₹133.20+1.35(+1.02%)

Market Closed as of May 2, 2025, 15:30 IST

What does Speciality Restaurants Limited do?

Restaurants•Consumer Services•Small Cap

Speciality Restaurants Limited owns and operates restaurant outlets and sweet shops in India and internationally. The company operates its restaurants under the Mainland China, Oh! Calcutta, Asia Kitchen by Mainland China, Sigree, Sigree Global Grill, Bohoba, KIX, Jungle Safari, Hoppipola, Gong - Modern Asian, CafÃƒÆ’Ã‚Â© Mezzuna, Flame & Grill, Haka, Haka Ãƒâ€šÃ¢â‚¬â€œ Asia Bowl, Machaan, Kaazi, Riyasat, Chourangi, and BARishh brand names. It also operates confectionaries and cafes under the Sweet Bengal and Dariole brands; and resto-bars under the Episode One brand. In addition, the company provides catering services; operates cloud kitchens; and franchises its restaurants and confectionaries stores. Speciality Restaurants Limited was founded in 1992 and is based in Mumbai, India.

Industry Group:Leisure Services

Employees:2,305

Website:www.speciality.co.in

Summary of Latest Earnings Report from Speciality Restaurants

Summary of Speciality Restaurants's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Feb 25

Management Outlook:
Speciality Restaurants Limited remains focused on profitable growth, prioritizing Oriental cuisine (Asian segment) with Mainland China as the anchor brand. Key strategies include expanding Asia Kitchen (mall-focused), launching experiential formats like Bizarre Asia (all-you-can-eat buffet), and scaling Gong (premium Asian) and Episode One (wet-led bars). The company aims to renovate existing stores to drive same-store sales growth (4.7% in Q3 FY25) and optimize costs.

Major Points:

Expansion: Target of 25 new stores over 3 years (primarily company-owned), focusing on metros and high-footfall locations. Delays in real estate handovers are a key challenge.
Financials:
- EBITDA margins maintained at 22"“25% (company level) and 30"“32% (restaurant level).
- Payback period for new stores: 3"“5 years; breakeven in 6"“8 months.
Brand Strategy:
- Bizarre Asia (INR 900"“1,000/person) to differentiate in the buffet segment.
- Sweet Bengal expansion paused due to bandwidth constraints; Oh! Calcutta (regional cuisine) to grow cautiously.
Cost Optimization: Renovations reducing maintenance costs; leveraging supply chain partnerships to mitigate food inflation.
Innovation: Testing delivery brands (e.g., Walter's Burger) and catering services for HNIs.
Liquor Sales: Contributing 10"“12% of revenue, boosted by line-of-sight bars and promotions.

The company avoids inorganic growth, focusing on organic scaling within its core competency (Asian cuisine) while balancing premium and accessible formats.

Q&A Session

Last updated: Feb 25

Question 1:
What is the long-term vision for the brand, and how do we plan on tripling the revenue in 6 years?
Answer:
The strategy focuses on expanding renovated stores (20"“30% revenue growth), new formats like Bizarre Asia (all-you-can-eat Asian buffet), Asia Kitchen (mall-focused), and Episode One (youth-centric bars). Emphasis on mall expansions (300+ new malls in India) and leveraging existing Oriental cuisine expertise. Targeted ROCE: 20"“22% over 3"“5 years.

Question 2:
Can Q3FY25 results be a benchmark for future performance, and what are your thoughts on the home delivery segment?
Answer:
Q3 (festive season) is typically strong, but quarterly variations exist. Focus remains on maintaining annual profitability. Delivery growth is driven by high average order value (AOV), but the company avoids premium pricing. Competitors like Taj prioritize brand integrity over third-party platforms.

Question 3:
Why has the store count remained stable, and how are margins impacted?
Answer:
Store conversions (e.g., Mainland China to Asia Kitchen) and renovations drive same-store growth (4.7% in Q3) but increase employee costs and depreciation. EBITDA margins (20"“25%) are stable, prioritizing profitable growth over aggressive expansion.

Question 4:
How do margins differ between cloud kitchens and kitchen-within-kitchen models?
Answer:
Kitchen-within-kitchen utilizes existing dine-in infrastructure, optimizing fixed costs and asset efficiency. Cloud kitchens are minimal and not prioritized. Catering (via Specialty Experiences) focuses on HNIs/households, doubling revenue YoY with plans for corporate events.

Question 5:
What are the plans for Bizarre Asia, and how does it avoid cannibalizing Mainland China?
Answer:
Bizarre Asia (INR 900"“1,000 buffet) offers pan-Asian cuisine (Thai, Vietnamese, Malaysian) vs. Mainland China's Ã la carte Chinese focus. Targets high-footfall malls/entertainment zones. Liquor sales (10"“15% of revenue) are boosted via bar visibility and promotions.

Question 6:
Why is Gujarat underrepresented, and what are the expansion plans?
Answer:
Past closures (Baroda, Ahmedabad) were due to mall issues. Plans to re-enter Ahmedabad via Alpha Mall (Nexus/Blackstone) pending final negotiations. Slow, profitable growth prioritizes metros like Mumbai and Delhi first.

Question 7:
Why maintain multiple sub-brands like CafÃ© Mezzuna?
Answer:
Legacy brands (e.g., CafÃ© Mezzuna, Sigree) are retained if profitable (15"“22% EBITDA). Focus now consolidates on Oriental cuisine (higher margins, 22"“25% food cost vs. 30%+ for Indian cuisine). New formats (Bizarre Asia, Gong) refresh the portfolio without diluting core DNA.

Question 8:
What is the store expansion guidance?
Answer:
25 new stores over 3 years (FY25"“FY27), primarily Asia Kitchen, Bizarre Asia, and Episode One, contingent on real estate delivery. Emphasis on metros (Mumbai, Delhi, Pune) and mall partnerships.

Balance Sheet for Speciality Restaurants

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	314.4%	9.66	3.09	16	4.97	8.24	1.13
Current investments	-10.1%	153	170	161	165	125	98
Loans, current	23.3%	0.67	0.57	0.66	0.6	0.72	0.67
Total current financial assets	-4.3%	181	189	196	185	143	110
Inventories	26.3%	8.92	7.27	8.21	6.84	8.61	5.24
Current tax assets	-	0	-	5.41	-	-	-
Total current assets	1%	210	208	230	207	165	124
Property, plant and equipment	-57.1%	70	162	173	155	142	135
Capital work-in-progress	2.9%	37	36	35	28	30	28
Investment property	-	12	0	-	-	-	-
Non-current investments	-109.1%	0	12	12	12	12	12
Loans, non-current	13.5%	1.42	1.37	1.83	1.58	1.65	1.54
Total non-current financial assets	-30.6%	26	37	35	37	34	36
Total non-current assets	6%	302	285	290	270	223	216
Total assets	3.8%	516	497	520	478	389	341
Total non-current financial liabilities	-1.9%	107	109	130	113	120	117
Provisions, non-current	66.7%	1.85	1.51	4.1	3.73	4.29	3.23
Total non-current liabilities	-1.8%	109	111	134	116	125	144
Total current financial liabilities	17.1%	83	71	92	74	76	39
Provisions, current	-	0	0	0	0	0	0
Total current liabilities	16.2%	87	75	96	79	79	42
Total liabilities	6.5%	199	187	232	196	212	190
Equity share capital	0%	48	48	48	47	47	47
Total equity	2.3%	317	310	288	282	178	152
Total equity and liabilities	3.8%	516	497	520	478	389	341

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	10%	12	11	17	6.43	1.7	1.8
Current investments	-10.1%	153	170	161	165	125	98
Loans, current	23.3%	0.67	0.57	0.66	0.6	0.72	0.67
Total current financial assets	-3.1%	191	197	198	186	144	111
Inventories	24.7%	9.34	7.69	8.21	6.84	8.61	5.24
Current tax assets	-	0	-	5.41	-	-	-
Total current assets	2.3%	222	217	231	209	166	126
Property, plant and equipment	-54.4%	79	172	173	155	142	135
Capital work-in-progress	2.9%	37	36	35	28	30	28
Goodwill	0%	0.03	0.03	0.03	0.03	0.03	0
Non-current investments	1%	0.03	0.02	6.4	5.5	4.45	5.3
Loans, non-current	13.5%	1.42	1.37	1.83	1.58	1.65	1.54
Total non-current financial assets	0%	27	27	30	31	27	29
Total non-current assets	5.7%	300	284	285	264	216	210
Total assets	4%	526	506	516	474	384	337
Total non-current financial liabilities	-1.9%	107	109	130	113	120	117
Provisions, non-current	66.7%	1.85	1.51	4.1	3.73	4.29	3.23
Total non-current liabilities	-1.8%	109	111	134	116	125	124
Total current financial liabilities	16.4%	86	74	92	45	76	65
Total current liabilities	15.4%	91	79	97	80	81	65
Total liabilities	5.8%	202	191	233	197	213	192
Equity share capital	0%	48	48	48	47	47	47
Non controlling interest	6.8%	7.44	7.03	-	-	-	-
Total equity	2.9%	323	314	283	277	170	145
Total equity and liabilities	4%	526	506	516	474	384	337

Cash Flow for Speciality Restaurants

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	7.7%	15	14	15
Change in inventories	44.4%	-0.44	-1.59	0.57
Depreciation	29%	41	32	27
Dividend income	-2.5%	0.18	0.2	0.06
Adjustments for interest income	-118.2%	0.69	2.7	0.02
Net Cashflows from Operations	-34%	63	95	60
Income taxes paid (refund)	-38.9%	2.43	3.34	-0.85
Other inflows (outflows) of cash	91.7%	0	-11.06	-7.3
Net Cashflows From Operating Activities	-26.2%	60	81	53
Proceeds from sales of PPE	-4.1%	0.23	0.26	0
Purchase of property, plant and equipment	200%	28	10	0
Dividends received	31.2%	0.45	0.2	0.06
Interest received	-	0.18	0	0.02
Other inflows (outflows) of cash	-	6.6	0	-25.82
Net Cashflows From Investing Activities	70.8%	-20.25	-71.74	-25.74
Proceeds from issuing other equity instruments	-58.8%	15	35	0
Payments of lease liabilities	7.7%	43	40	0
Dividends paid	-	12	0	0
Other inflows (outflows) of cash	-	-1.78	0	-33.41
Net Cashflows from Financing Activities	-614.1%	-41.99	-5.02	-33.41
Net change in cash and cash eq.	-201.4%	-1.88	3.84	-5.98

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	7.7%	15	14	15
Change in inventories	42.1%	-0.5	-1.59	0.57
Depreciation	32.3%	42	32	27
Dividend income	-2.5%	0.18	0.2	0.06
Adjustments for interest income	-115.1%	0.69	3.05	0.02
Net Cashflows from Operations	-32.6%	65	96	61
Income taxes paid (refund)	-38.9%	2.43	3.34	-0.85
Other inflows (outflows) of cash	92.5%	0	-12.31	-7.85
Net Cashflows From Operating Activities	-22.8%	62	80	54
Purchase of property, plant and equipment	200%	28	10	0
Proceeds from sales of investment property	-4.1%	0.23	0.26	0
Dividends received	-2.5%	0.18	0.2	0.06
Interest received	15.4%	0.45	0.35	0.02
Other inflows (outflows) of cash	-	6.61	0	-33.65
Net Cashflows From Investing Activities	69.8%	-20.63	-70.68	-33.57
Proceeds from issuing other equity instruments	-58.8%	15	35	0
Payments of lease liabilities	7.7%	43	40	26
Dividends paid	-	12	0	0
Other inflows (outflows) of cash	-	3.02	0	0
Net Cashflows from Financing Activities	-534.4%	-37.19	-5.02	-25.82
Net change in cash and cash eq.	0.3%	4.64	4.63	-5.44

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Category	SPECIALITY	Leisure
PE	27.38	66.28
PS	1.42	5.57
Growth	6.4 %	12.7 %

Shareholder Name	Holding %
Anjan Snehmoy Chatterjee	25.28%
Suchhanda Anjan Chatterjee	24.82%
Others	3.83%
Trustline Deep Alpha Aif	1.59%
Zaki Abbas Nasser	1.5%
Tasha Enterprises LLP	1.33%
Vijaya S	1.09%
Avik Anjan Chatterjee	0%
Harshita Anjan Chatterjee	0%
Late Nellie Sen	0%

Valuation
Market Cap	642.5 Cr
Price/Earnings (Trailing)	27.66
Price/Sales (Trailing)	1.43
EV/EBITDA	7.04
Price/Free Cashflow	22.3
MarketCap/EBT	21.48

Fundamentals
Revenue (TTM)	449.41 Cr
Rev. Growth (Yr)	5.32%
Rev. Growth (Qtr)	19.73%
Earnings (TTM)	23.23 Cr
Earnings Growth (Yr)	-33.94%
Earnings Growth (Qtr)	228.42%

Profitability
Operating Margin	6.66%
EBT Margin	6.66%
Return on Equity	7.18%
Return on Assets	4.42%
Free Cashflow Yield	4.48%

Income Statement for Speciality Restaurants

Standalone figures (in Rs. Crores) / View Consolidated Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	21.6%	119	98	97	91	109	98
Other Income	-4.2%	3.29	3.39	8.39	3.56	6.63	5.82
Total Income	22%	123	101	106	95	116	104
Cost of Materials	20.7%	36	30	30	29	33	29
Employee Expense	4.8%	23	22	22	21	23	23
Finance costs	13.9%	3.7	3.37	3.52	3.4	3.81	3.8
Depreciation and Amortization	10%	12	11	11	11	10	10
Other expenses	9.7%	35	32	30	28	31	30
Total Expenses	12.4%	110	98	97	92	102	96
Profit Before exceptional items and Tax	440.5%	13	3.22	8.75	2.21	14	7.56
Exceptional items before tax	-	0	0	0	0	0	0
Total profit before tax	440.5%	13	3.22	8.75	2.21	14	7.56
Current tax	127.9%	1.19	0.32	0.47	-2.42	-0.28	1.52
Deferred tax	335.5%	2.46	0.38	1.13	2.99	1.27	0.78
Total tax	983.3%	3.65	0.7	1.6	0.57	0.99	2.3
Total profit (loss) for period	433.6%	9.11	2.52	7.15	1.64	13	5.26
Other comp. income net of taxes	-3.3%	0.07	0.1	0.01	-0.13	-0.02	-0.09
Total Comprehensive Income	404.9%	9.18	2.62	7.16	1.51	13	5.17
Earnings Per Share, Basic	285.4%	1.89	0.52	1.5	0.34	2.81	1.11
Earnings Per Share, Diluted	285.4%	1.89	0.52	1.5	0.33	2.73	1.08

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	4.8%	393	375	253	150	358	346
Other Income	-17.4%	20	24	14	17	9.96	9.46
Total Income	3.5%	413	399	267	167	368	356
Cost of Materials	5.3%	120	114	76	45	113	109
Employee Expense	19.4%	87	73	46	34	82	81
Finance costs	7.7%	15	14	15	16	21	0
Depreciation and Amortization	29%	41	32	27	32	57	29
Other expenses	6.4%	118	111	89	73	105	143
Total Expenses	10.8%	381	344	252	200	379	361
Profit Before exceptional items and Tax	-42.6%	32	55	14	-33.53	-11.68	-5.33
Exceptional items before tax	-115.2%	0	7.59	-0.66	4.36	-27.38	0
Total profit before tax	-49.2%	32	62	14	-29.17	-39.06	-5.33
Current tax	127.7%	1.26	0.06	0	0.17	-0.9	1.01
Deferred tax	107.7%	3.65	-33.41	0	0	0	0
Total tax	111.4%	4.91	-33.35	0	0.17	-0.9	1.01
Total profit (loss) for period	-72.6%	27	96	14	-29.34	-38.16	-6.34
Other comp. income net of taxes	-41.9%	-0.32	0.07	1.22	0.26	-0.69	-0.45
Total Comprehensive Income	-73.7%	26	96	15	-29.08	-38.85	-6.79
Earnings Per Share, Basic	-76.3%	5.58	20.35	2.88	-6.25	-8.13	-1.35
Earnings Per Share, Diluted	-77.1%	5.41	20.24	2.88	-6.25	-8.13	-1.35

Consolidated figures (in Rs. Crores) / View Standalone Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	21.4%	126	104	103	96	116	98
Other Income	-3.6%	3.38	3.47	8.41	4.72	6.63	5.82
Total Income	19.6%	129	108	112	101	123	104
Cost of Materials	23.3%	38	31	31	30	35	29
Employee Expense	4.3%	25	24	24	23	24	23
Finance costs	14.4%	3.7	3.36	3.53	3.4	3.81	3.8
Depreciation and Amortization	9.1%	13	12	11	11	11	10
Other expenses	9.1%	37	34	32	29	33	30
Total Expenses	11.7%	116	104	102	97	107	96
Profit Before exceptional items and Tax	358%	13	3.62	9.37	3.86	16	7.54
Exceptional items before tax	-	0	0	0	0	0	0
Total profit before tax	358%	13	3.62	9.37	3.86	16	7.54
Current tax	127.9%	1.19	0.32	0.47	-2.42	-0.28	1.52
Deferred tax	374.5%	2.51	0.45	1.26	2.92	1.68	0.78
Total tax	1273.9%	3.7	0.77	1.73	0.5	1.4	2.3
Total profit (loss) for period	351.9%	9.36	2.85	7.64	3.38	14	5.76
Other comp. income net of taxes	-1143.8%	-0.67	1.16	0.02	-0.26	0.36	-0.26
Total Comprehensive Income	155.5%	8.69	4.01	7.66	3.12	15	5.5
Earnings Per Share, Basic	309.1%	1.92	0.56	1.55	0.64	2.88	1.21
Earnings Per Share, Diluted	309.1%	1.92	0.56	1.54	0.63	2.8	1.18

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	8%	405	375	253	150	358	346
Other Income	-13%	21	24	14	17	10	9.46
Total Income	6.5%	425	399	267	167	368	356
Cost of Materials	8%	123	114	76	45	113	109
Employee Expense	23.6%	90	73	46	34	82	82
Finance costs	7.7%	15	14	15	16	21	0
Depreciation and Amortization	32.3%	42	32	27	32	57	29
Other expenses	9.1%	121	111	89	73	105	143
Total Expenses	13.7%	391	344	252	200	379	363
Profit Before exceptional items and Tax	-38.9%	34	55	14	-33.39	-11.39	-6.78
Exceptional items before tax	-113.5%	0	8.39	0	4.36	-27.51	0
Total profit before tax	-46.8%	34	63	14	-29.03	-38.9	-6.78
Current tax	127.7%	1.26	0.06	0	0.17	-0.9	1.01
Deferred tax	108.7%	3.99	-33.41	0	0	0	0
Total tax	112.4%	5.25	-33.35	0	0.17	-0.9	1.01
Total profit (loss) for period	-69.8%	30	97	8.15	-29.34	-38	-7.81
Other comp. income net of taxes	-32.5%	-0.06	0.2	1.15	0.86	-0.42	-0.53
Total Comprehensive Income	-69.8%	30	97	9.3	-28.48	-38.42	-8.34
Earnings Per Share, Basic	-73.7%	6.15	20.61	1.74	-6.25	-8.09	-1.66
Earnings Per Share, Diluted	-74.6%	5.96	20.5	1.74	-6.25	-8.09	-1.66

Investor Care
Dividend Yield	2.68%
Dividend/Share (TTM)	3.5
Shares Dilution (1Y)	0.37%
Diluted EPS (TTM)	4.65

Financial Health
Current Ratio	2.45
Debt/Equity	0.00
Debt/Cashflow	0.00

SPECIALITY - Speciality Restaurants Limited Share Price

What does Speciality Restaurants Limited do?

Summary of Latest Earnings Report from Speciality Restaurants

Balance Sheet for Speciality Restaurants

Cash Flow for Speciality Restaurants

Sector Comparison: SPECIALITY vs Leisure Services

Comparative Metrics

Performance Comparison

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Valuation

Fundamentals

Profitability

Income Statement for Speciality Restaurants

Investor Care

Financial Health

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)