Speciality Restaurants –
Company’s brands – Revenue contribution
Mainland China/Asia Kitchen ( 24 units ) – 42 pc
Oh Calcutta ( 9 units ) – 13 pc
Sweet Bengal ( 42 units ) – 10 pc
Cloud Kitchens ( 14 units ) – 14 pc
Sigree Global Grill ( 03 units ) – 7 pc
Haka ( 4 units ) – 5 pc
Rest is contributed by smaller brands like – Cafe Mezzuna, Hoppipola ( Both – Italian / Continental ) etc
Q3 FY 24 results –
Revenues – 122 vs 105 cr
EBITDA – 29 vs 27 cr
PAT – 13 vs 15 cr
Dine-in sales @ 78 vs 75 pc YoY
Delivery sales @ 22 vs 25 pc YoY
Compression in margins due opening of new Restaurants and the resultant increase in costs
Company opened 04 new stores in Q3. Intend to open 02 more stores in Q4
Company raised 127 cr in Q1 this yr. Intend to renovate / reinvigorate old stores and for acquisitions ( profitable Chinese restaurant chain – already identified ). Company should announce it anytime soon
Disc: hold a tracking position, biased, not SEBI registered
View : if the company can get to a base PAT of say 50 cr/yr and grow from there, it would be a very nice re-rating candidate with current Mkt Cap at 1250 cr
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