Grill Splendour Services Ltd
Incorporated in 2019, Grill Splendour
Services Ltd provides restaurant and
café services[1]
- Market Cap ₹ 76.2 Cr.
- Current Price ₹ 135
- High / Low ₹ 154 / 82.3
- Stock P/E
- Book Value ₹ 40.2
- Dividend Yield 0.00 %
- ROCE -24.5 %
- ROE -34.9 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Company has low interest coverage ratio.
- Promoter holding is low: 33.7%
- Company has a low return on equity of -17.0% over last 3 years.
- Debtor days have increased from 37.1 to 72.9 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Services Leisure Services Restaurants
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 8.25 | 11.50 | 15.29 | 13.47 | 10.26 | 10.82 | |
| 8.13 | 11.25 | 12.40 | 12.76 | 15.51 | 18.25 | |
| Operating Profit | 0.12 | 0.25 | 2.89 | 0.71 | -5.25 | -7.43 |
| OPM % | 1.45% | 2.17% | 18.90% | 5.27% | -51.17% | -68.67% |
| 0.01 | 0.02 | 0.02 | 0.02 | 0.05 | 0.06 | |
| Interest | 0.10 | 0.11 | 0.23 | 0.76 | 0.41 | 0.40 |
| Depreciation | 0.06 | 0.12 | 0.16 | 0.20 | 0.48 | 0.62 |
| Profit before tax | -0.03 | 0.04 | 2.52 | -0.23 | -6.09 | -8.39 |
| Tax % | 0.00% | 0.00% | 20.63% | 4.35% | -22.00% | |
| -0.04 | 0.03 | 1.99 | -0.24 | -4.75 | -6.54 | |
| EPS in Rs | -40.00 | 30.00 | 1,990.00 | -0.63 | -9.12 | -12.07 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -4% |
| TTM: | -3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -175% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 57% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -17% |
| Last Year: | -35% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 3.84 | 5.21 | 5.66 |
| Reserves | -0.03 | 0.01 | 2.00 | 0.26 | 17.89 | 17.09 |
| 0.97 | 1.34 | 3.00 | 15.49 | 3.63 | 3.20 | |
| 1.71 | 1.54 | 2.63 | 2.60 | 2.68 | 2.47 | |
| Total Liabilities | 2.66 | 2.90 | 7.64 | 22.19 | 29.41 | 28.42 |
| 0.95 | 1.15 | 1.40 | 1.77 | 6.82 | 7.76 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 1.71 | 1.75 | 6.24 | 20.42 | 22.59 | 20.66 | |
| Total Assets | 2.66 | 2.90 | 7.64 | 22.19 | 29.41 | 28.42 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 0.32 | 0.03 | 2.35 | -0.12 | -3.42 | |
| -0.74 | -0.29 | -2.91 | -15.65 | -5.75 | |
| 0.40 | 0.26 | 1.47 | 15.52 | 11.42 | |
| Net Cash Flow | -0.02 | 0.00 | 0.91 | -0.24 | 2.25 |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 4.87 | 3.81 | 15.76 | 22.49 | 72.93 |
| Inventory Days | 40.56 | 24.68 | 22.05 | 21.21 | 19.21 |
| Days Payable | 134.70 | 87.39 | 143.35 | 207.61 | 170.01 |
| Cash Conversion Cycle | -89.28 | -58.91 | -105.54 | -163.92 | -77.87 |
| Working Capital Days | -29.20 | -9.84 | -26.02 | -320.83 | -17.43 |
| ROCE % | 12.99% | 86.34% | 4.31% | -24.53% |
Documents
Announcements
-
Allotment of Securities
10 November 2025 - Allotment of 200,000 equity shares at Rs.85.61 each to Elysian Wealth Fund on warrant conversion.
-
Outcome of Board Meeting
10 November 2025 - Board approved unaudited H1 results (Sep 30, 2025): revenue Rs500.19L, PBT -Rs415.02L; utilised Rs552.84L.
-
Updates
8 October 2025 - Grill Splendour Services exempt from corporate governance filing; no report for quarter ended Sep 30, 2025.
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
8 October 2025 - Registrar confirms no rematerialisation requests; all equity demat for quarter ended September 30, 2025.
-
Shareholders meeting
1 October 2025 - AGM Sep 30, 2025: both resolutions passed; 4,329,800 votes cast, 100% in favour.
Business Overview:[1]
a) GSSL is in the business of restaurant and café services and specializes in Cakes & Pastries, Snacks, Chocolates, and other food items.
b) It operates a chain of gourmet Bakery and Pâtisserie spread across Mumbai through 26 retail stores, a centralized production facility and multiple corporate clients.
c) Out of 26 retail stores, 5 stores are running under the franchisee model (franchisee owned, and company operated) and rest 21 stores are owned by the company