Speciality Restaurants Ltd

Speciality Restaurants Ltd

₹ 200 1.01%
24 Apr 1:44 p.m.
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 960 Cr.
  • Current Price 200
  • High / Low 287 / 168
  • Stock P/E 11.8
  • Book Value 58.9
  • Dividend Yield 1.25 %
  • ROCE 17.6 %
  • ROE 38.5 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 30.2% CAGR over last 5 years

Cons

  • Stock is trading at 3.35 times its book value
  • 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 10.8% over last 3 years.
  • Earnings include an other income of Rs.27.5 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

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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 98 116
51 55 30 52 69 65 73 74 79 65 78 82 92
Operating Profit 6 11 0 10 20 6 17 20 25 22 17 16 24
OPM % 11% 17% 0% 16% 23% 9% 19% 22% 24% 25% 18% 16% 20%
3 10 2 3 2 8 9 3 2 11 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 11
Profit before tax -4 9 -9 3 11 3 16 13 15 20 8 8 16
Tax % 0% 2% 0% 0% 0% 0% 3% 12% -2% -173% 14% 29% 9%
-4 8 -9 3 11 3 15 11 15 55 7 6 14
EPS in Rs -0.79 1.80 -1.83 0.55 2.39 0.62 3.20 2.36 3.28 11.78 1.41 1.21 2.88
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
312 297 346 358 150 253 375 396
317 298 334 301 151 216 298 318
Operating Profit -5 -1 12 57 -1 37 77 78
OPM % -2% -0% 4% 16% -1% 15% 20% 20%
9 6 9 -17 20 13 33 27
Interest 0 0 0 21 16 15 14 15
Depreciation 33 30 29 57 32 27 32 39
Profit before tax -29 -25 -7 -39 -29 8 63 52
Tax % 12% -91% -15% 2% -1% 0% -53%
-26 -47 -8 -38 -29 8 97 82
EPS in Rs -5.43 -9.96 -1.66 -8.09 -6.25 1.74 20.61 17.28
Dividend Payout % 0% 0% 0% 0% 0% 0% 12%
Compounded Sales Growth
10 Years: %
5 Years: 5%
3 Years: 2%
TTM: 10%
Compounded Profit Growth
10 Years: %
5 Years: 30%
3 Years: 90%
TTM: 84%
Stock Price CAGR
10 Years: 3%
5 Years: 16%
3 Years: 72%
1 Year: -16%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 11%
Last Year: 39%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 47 47 47 47 47 47 47 48
Reserves 227 181 172 117 88 98 230 236
0 0 0 0 141 139 142 154
58 63 65 185 56 53 55 79
Total Liabilities 332 291 284 349 332 337 473 516
115 101 82 156 151 136 156 174
CWIP 33 29 35 33 29 28 28 35
Investments 69 67 68 69 73 103 170 167
115 94 99 91 79 69 120 141
Total Assets 332 291 284 349 332 337 473 516

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
3 9 16 60 21 54 80
-5 -7 -10 -15 -5 -34 -71
-0 -0 -0 -54 -11 -26 -5
Net Cash Flow -1 1 6 -9 6 -5 5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 6 8 6 2 8 7 6
Inventory Days 26 27 22 24 47 25 22
Days Payable 137 162 139 109 266 145 102
Cash Conversion Cycle -105 -127 -111 -83 -212 -112 -74
Working Capital Days -19 -24 -20 -28 -45 -26 -13
ROCE % -9% -4% 2% -8% 8% 18%

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.

Documents

Concalls