Speciality Restaurants Ltd

Speciality Restaurants Ltd

₹ 171 -1.59%
14 Jun - 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 822 Cr.
  • Current Price 171
  • High / Low 287 / 153
  • Stock P/E 30.8
  • Book Value 64.4
  • Dividend Yield 1.46 %
  • ROCE 10.6 %
  • ROE 9.00 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 37.3% CAGR over last 5 years

Cons

  • Stock is trading at 2.65 times its book value
  • Working capital days have increased from 37.4 days to 148 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

Sector: Hotels & Restaurants Industry: Hotels

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
65.42 30.43 61.73 88.99 71.78 89.97 93.78 103.71 87.51 94.65 97.88 109.49 91.08
54.52 30.34 51.65 65.10 63.40 72.20 73.50 78.94 73.80 77.65 82.19 87.51 78.10
Operating Profit 10.90 0.09 10.08 23.89 8.38 17.77 20.28 24.77 13.71 17.00 15.69 21.98 12.98
OPM % 16.66% 0.30% 16.33% 26.85% 11.67% 19.75% 21.63% 23.88% 15.67% 17.96% 16.03% 20.07% 14.25%
9.61 1.95 2.56 1.57 6.88 7.82 3.15 1.86 18.50 3.54 5.82 6.63 3.56
Interest 4.03 3.57 3.58 3.78 3.62 3.42 3.42 3.55 3.52 3.59 3.80 3.81 3.40
Depreciation 8.00 7.00 6.26 6.75 7.34 7.07 7.44 8.40 8.81 9.61 10.15 10.34 10.93
Profit before tax 8.48 -8.53 2.80 14.93 4.30 15.10 12.57 14.68 19.88 7.34 7.56 14.46 2.21
Tax % 2.00% 0.00% 0.00% 0.00% 0.00% 3.25% 11.69% -1.84% -176.26% 14.31% 30.42% 6.85% 25.79%
8.31 -8.53 2.80 14.93 4.30 14.61 11.10 14.95 54.92 6.29 5.26 13.47 1.64
EPS in Rs 1.77 -1.82 0.60 3.18 0.92 3.11 2.36 3.18 11.70 1.32 1.11 2.80 0.34
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
227 264 299 321 312 297 346 358 150 253 375 393
190 230 270 304 314 296 332 301 151 210 298 325
Operating Profit 37 34 29 17 -1 1 14 57 -1 43 77 68
OPM % 16% 13% 10% 5% -0% 0% 4% 16% -0% 17% 20% 17%
9 10 8 8 9 -2 9 -17 20 13 31 20
Interest 0 0 0 0 0 0 0 21 16 15 14 15
Depreciation 15 19 25 28 33 30 29 57 32 27 32 41
Profit before tax 30 25 12 -3 -25 -31 -5 -39 -29 14 62 32
Tax % 23% 23% 18% 109% 14% -71% -19% 2% -1% 0% -54% 16%
23 19 9 0 -22 -53 -6 -38 -29 14 96 27
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 5.54
Dividend Payout % 20% 25% 50% 0% 0% 0% 0% 0% 0% 0% 12% 18%
Compounded Sales Growth
10 Years: 4%
5 Years: 3%
3 Years: 38%
TTM: 5%
Compounded Profit Growth
10 Years: 4%
5 Years: 37%
3 Years: 41%
TTM: -67%
Stock Price CAGR
10 Years: 1%
5 Years: 16%
3 Years: 41%
1 Year: -27%
Return on Equity
10 Years: 0%
5 Years: 7%
3 Years: 18%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 47 47 47 47 47 47 47 47 47 47 47 48
Reserves 244 257 261 261 235 182 175 119 90 105 235 262
0 1 1 0 0 0 0 0 141 139 142 139
35 50 47 49 58 62 63 184 55 51 54 49
Total Liabilities 326 355 355 358 340 291 285 350 333 341 478 497
85 106 120 135 115 101 82 156 151 136 155 163
CWIP 17 35 42 35 33 29 35 33 29 28 28 36
Investments 136 111 80 71 70 67 72 72 75 109 176 181
88 103 113 117 122 94 96 89 78 68 119 117
Total Assets 326 355 355 358 340 291 285 350 333 341 478 497

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
17 27 11 26 3 9 17 43 20 53 81 60
-146 -19 -12 -21 -5 -7 -14 -14 -3 -33 -72 -20
134 -5 -6 -6 -0 -0 -0 -36 -11 -26 -5 -42
Net Cash Flow 5 3 -7 -1 -1 1 3 -7 6 -6 4 -2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 18 27 19 4 6 8 6 2 8 7 6 7
Inventory Days 17 23 25 25 26 27 22 24 47 25 22 22
Days Payable 137 151 98 130 137 162 138 109 263 143 102 76
Cash Conversion Cycle -102 -101 -55 -101 -105 -127 -110 -83 -208 -110 -74 -47
Working Capital Days -23 -24 -18 -25 -19 -23 -18 -28 -44 -24 -12 148
ROCE % 14% 8% 4% -2% -9% -8% -4% 2% -8% 10% 17%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
51.20% 52.53% 52.53% 52.53% 52.53% 52.53% 52.53% 52.53% 50.84% 50.84% 50.28% 50.24%
0.00% 0.05% 0.24% 0.06% 0.09% 0.47% 0.37% 0.05% 0.47% 0.47% 0.47% 0.21%
1.20% 1.35% 1.50% 1.50% 1.58% 1.78% 1.84% 1.58% 1.65% 1.65% 1.60% 1.59%
47.61% 46.08% 45.74% 45.92% 45.80% 45.24% 45.27% 45.84% 47.03% 47.05% 47.66% 47.97%
No. of Shareholders 20,86020,42422,97522,69121,86923,08322,82022,66623,23223,08023,19422,029

* 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.

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