Speciality Restaurants Ltd

Speciality Restaurants Ltd

₹ 239 -0.77%
23 Feb - close price
About

The company entered the restaurant business by setting up Only Fish in 1992, followed by Main Land China, in Mumbai in 1994. SRL is one of the largest fine-dining restaurant chains in India. The company launched its IPO in 2012.[1]

Key Points

Brands
Company’s flagship brand, Mainland China, is one of the most recognised home-grown restaurant brands in India. It has remained one of the most favored and popular Chinese fine dining restaurant chains catering to the Indian taste buds.
In the confectionery business, sweet bengal is an established brand- With 30 outlets, it is the only chain serving authentic Bengali sweets and Bengali snacks in Mumbai and Pune.
The other brands, Asia Kitchen by Mainland China, Riyasat, Barishh, Episode One, Hoppipola, Oh! Calcutta, and Cafe Mezzuna have also a strong market position in the respective categories. [1]

  • Market Cap 1,149 Cr.
  • Current Price 239
  • High / Low 287 / 168
  • Stock P/E 16.1
  • Book Value 59.9
  • Dividend Yield 1.05 %
  • ROCE 17.2 %
  • ROE 37.2 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 29.1% CAGR over last 5 years

Cons

  • Stock is trading at 3.99 times its book value
  • Promoter holding has decreased over last quarter: -0.56%
  • The company has delivered a poor sales growth of 4.79% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 11.6% over last 3 years.
  • Earnings include an other income of Rs.34.5 Cr.

* 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

Sector: Hotels & Restaurants Industry: Hotels

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
57 65 30 62 89 72 90 94 104 88 95 98 109
51 55 30 52 65 63 72 74 79 74 78 82 88
Operating Profit 6 11 0 10 24 8 18 20 25 14 17 16 22
OPM % 11% 17% 0% 16% 27% 12% 20% 22% 24% 16% 18% 16% 20%
3 10 2 3 2 7 8 3 2 18 4 6 7
Interest 4 4 4 4 4 4 3 3 4 4 4 4 4
Depreciation 8 8 7 6 7 7 7 7 8 9 10 10 10
Profit before tax -4 8 -9 3 15 4 15 13 15 20 7 8 14
Tax % 0% 2% 0% 0% 0% 0% 3% 12% -2% -176% 14% 30% 7%
-4 8 -9 3 15 4 15 11 15 55 6 5 13
EPS in Rs -0.78 1.77 -1.82 0.60 3.18 0.92 3.11 2.36 3.18 11.70 1.32 1.11 2.80
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
196 227 264 299 321 312 297 346 358 150 253 375 390
159 190 230 270 304 314 296 332 301 151 210 298 321
Operating Profit 38 37 34 29 17 -1 1 14 57 -1 43 77 68
OPM % 19% 16% 13% 10% 5% -0% 0% 4% 16% -0% 17% 20% 18%
3 9 10 8 8 9 -2 9 -17 20 13 31 34
Interest 3 0 0 0 0 0 0 0 21 16 15 14 15
Depreciation 13 15 19 25 28 33 30 29 57 32 27 32 39
Profit before tax 25 30 25 12 -3 -25 -31 -5 -39 -29 14 62 49
Tax % 30% 23% 23% 18% 109% 14% -71% -19% 2% -1% 0% -54%
17 23 19 9 0 -22 -53 -6 -38 -29 14 96 80
EPS in Rs 4.99 4.02 2.01 0.06 -4.65 -11.37 -1.35 -8.13 -6.25 2.88 20.35 16.93
Dividend Payout % 0% 20% 25% 50% 0% 0% 0% 0% 0% 0% 0% 12%
Compounded Sales Growth
10 Years: 5%
5 Years: 5%
3 Years: 2%
TTM: 8%
Compounded Profit Growth
10 Years: 13%
5 Years: 29%
3 Years: 90%
TTM: 54%
Stock Price CAGR
10 Years: 7%
5 Years: 21%
3 Years: 76%
1 Year: 14%
Return on Equity
10 Years: -1%
5 Years: 4%
3 Years: 12%
Last Year: 37%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 35 47 47 47 47 47 47 47 47 47 47 47 48
Reserves 80 244 257 261 261 235 182 175 119 90 105 235 241
29 0 1 1 0 0 0 0 0 141 139 142 154
28 35 50 47 49 58 62 63 184 55 51 54 78
Total Liabilities 172 326 355 355 358 340 291 285 350 333 341 478 520
73 85 106 120 135 115 101 82 156 151 136 155 174
CWIP 15 17 35 42 35 33 29 35 33 29 28 28 35
Investments 15 136 111 80 71 70 67 72 72 75 109 176 172
69 88 103 113 117 122 94 96 89 78 68 119 139
Total Assets 172 326 355 355 358 340 291 285 350 333 341 478 520

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
14 17 27 11 26 3 9 17 43 20 53 81
-20 -146 -19 -12 -21 -5 -7 -14 -14 -3 -33 -72
5 134 -5 -6 -6 -0 -0 -0 -36 -11 -26 -5
Net Cash Flow -1 5 3 -7 -1 -1 1 3 -7 6 -6 4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 14 18 27 19 4 6 8 6 2 8 7 6
Inventory Days 14 17 23 25 25 26 27 22 24 47 25 22
Days Payable 154 137 151 98 130 137 162 138 109 263 143 102
Cash Conversion Cycle -125 -102 -101 -55 -101 -105 -127 -110 -83 -208 -110 -74
Working Capital Days -22 -23 -24 -18 -25 -19 -23 -18 -28 -44 -24 -12
ROCE % 21% 14% 8% 4% -2% -9% -8% -4% 2% -8% 10% 17%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
51.20% 51.20% 52.53% 52.53% 52.53% 52.53% 52.53% 52.53% 52.53% 50.84% 50.84% 50.28%
0.00% 0.00% 0.05% 0.24% 0.06% 0.09% 0.47% 0.37% 0.05% 0.47% 0.47% 0.47%
1.20% 1.20% 1.35% 1.50% 1.50% 1.58% 1.78% 1.84% 1.58% 1.65% 1.65% 1.60%
47.61% 47.61% 46.08% 45.74% 45.92% 45.80% 45.24% 45.27% 45.84% 47.03% 47.05% 47.66%
No. of Shareholders 18,42220,86020,42422,97522,69121,86923,08322,82022,66623,23223,08023,194

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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