Speciality Restaurants Limited reports Q1FY23 Total Income of Rs 9,859 lakhs
EBIDTA for Q1FY23 was reported at Rs 2,639 lakhs as against Rs 1,592 lakhs thus marking a growth of 65.77 per cent on a q-o-q basis
Speciality Restaurants Ltd, a leading fine dining restaurant operator with Mainland China, Asia Kitchen by Mainland China, Oh! Calcutta and Sigree-Global Grill as its key brands on standalone basis reported a Total Income of Rs 9,859 lakhs for Q1FY23 as against Rs 7,932 lakhs in the corresponding quarter thus marking a growth of 24.29 per cent on a q-o-q basis. EBIDTA for Q1FY23 was reported at Rs 2,639 lakhs as against Rs 1,592 lakhs thus marking a growth of 65.77 per cent on a q-o-q basis. Total Comprehensive Income for Q1FY23 was reported Rs 1,471 lakhs against loss of Rs 843 lakhs.
Commenting on the performance of the company, Anjan Chatterjee, Chairman & Managing Director, Speciality Restaurants Ltd, said, "Company has been focused on taking strategic steps and implementing the learnings during Covid-19 period towards right sizing of the operations and focus on the delivery vertical has turned around the company's performance. Some tactical measures of cost controls and stream-lining business processes have led to rationalisation of the costs which has resulted into savings resulting into improved profitability. We continue to focus on the cloud kitchen vertical with our established brands for the delivery business with low capital requirement and better return on investments. Establishing kitchen within kitchen in our existing restaurants has resulted into sweating of assets thus improving profitability. As the company is debt free, we will continue our expansion journey and provide best-in-class dining experience and delivery of hygienic food to our guests whilst creating value for all our stakeholders."
As on 31 March, 2022, the company had a total of 80 restaurants (including 11 cloud kitchens and 17 franchisee) and 37 confectionary stores across 13 cities in India and two in UAE. The company operated one restaurant in London under joint venture.
The company started operations of its "CHOURANGI" restaurant at 3 Old Quebec St. London WIH 7AF on October 7, 2021. Chourangi is the joint venture of Speciality Restaurants through its subsidiary, in the city of London. It promises to introduce London's discerning food lovers to the unexplored cuisine of India – three centuries old and still evolving, bursting with taste and flavours that have never before been encountered in this city.
The décor has also been carefully thought out and designed to capture the diversity of the city over centuries with the iconic 'Indian Coffee House' feel of the Howrah Bridge Wallas the gate way to the city, the iconic Tolly Club and Bengal Club or the Royal Turf Club' settings, louvre walls with a mix of jazz and Bengali light instrumentals in the background to set the mood for discerning diners to soak up the experience. The food offering is a culinary mix of street food and the heritage cuisine of the Sahib's/Mughals, with subtle influences of the French and British. It's Calcutta cuisine features adventurous new ingredients, flavours and cooking methods interwoven with 300 years of colourful history and stories giving the people of London an experiential taste of Calcutta.
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