Spice Lounge Food Works Ltd (539895)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Spice Lounge's revenue was ₹40.1 Cr (+24.3% year on year, -14.6% on the previous quarter), and net profit ₹4.8 Cr (against a loss a year earlier); the operating margin was 15.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹40.1 | +24.3% | -14.6% |
| Operating profit | ₹6.1 | +375.8% | -2.4% |
| Net profit | ₹4.8 | from loss | -3.0% |
| EPS (₹) | 0.07 | from loss | +0.0% |
| Operating margin | 15.2% | — | — |
📢 Recent Corporate Announcements
Spice Lounge Food Works Limited held its 45th Annual General Meeting on September 30, 2026, via Video Conferencing. Ordinary business included the adoption of standalone and consolidated financial statements for the year ended March 31, 2026, and the re-appointment of retiring directors Babu Edalamapti Purushotham and Mohan Babu Karjela. Remote e-voting concluded on September 29, 2026, and final voting outcomes will be disclosed within two working days. The filing reflects purely procedural AGM proceedings with no new capital deployment or strategic shifts announced.
- 45th Annual General Meeting conducted on September 30, 2026, between 04:00 PM and 04:11 PM
- Remote e-voting window was active from September 27, 2026 (10:00 AM) to September 29, 2026 (05:00 PM)
- Deliberated adoption of FY26 audited standalone and consolidated financial statements
- Voting results to be declared within 2 working days of AGM conclusion
Spice Lounge Food Works has announced the launch of its new Food Emulsifier & Agro Division, entering food emulsifiers, agri-sourcing, agro chemicals, and processing verticals. The company targets an expected revenue potential of approximately ₹1,200 crore from this division, which is over 9.3x its TTM revenue of ₹129 crore. The unit is set up directly within the company to backward-integrate its supply chain and serve external B2B clients like hotels and food processors. Execution is currently underway, and the company is in confidential talks with global agribusiness majors for offtake and partnerships.
- Targeted expected revenue potential of approximately ₹1,200 crore across the new division
- Divisional scope includes food emulsifiers, agro chemicals, agri-sourcing, and processing infrastructure
- Undertaken directly within the company without any separate subsidiary or joint venture at this stage
- Company reports being in advanced confidential talks with global agribusiness majors for offtake and partnerships
Spice Lounge Food Works Limited (formerly Shalimar Agencies Limited) has submitted its unaudited financial results for the quarter ended June 30, 2026. For the quarter, the company posted revenue of Rs 2.37 cr and a net profit of Rs 0.05 cr with an EPS of Rs 0.001. Operating profit remained modest at Rs 0.05 cr against total debt of Rs 45 cr. Promoter holding stands at 0.0% as of the latest filings.
- Revenue from operations reached Rs 2.37 cr for the quarter ended June 30, 2026
- Net profit recorded at Rs 0.05 cr with an EPS of Rs 0.001
- Operating profit stood at Rs 0.05 cr for the quarter
- Board meeting approving results concluded on August 14, 2026 at 06:20 PM
Spice Lounge Food Works Limited (formerly Shalimar Agencies Limited) reported its unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026. For Q1 Jun 2026, the company posted a revenue of Rs 2.37 crore along with an operating profit of Rs 0.0499 crore. Net profit for the period stood at Rs 0.0506 crore with an EPS of Rs 0.001. The board meeting commenced at 04:30 PM and concluded at 06:20 PM on August 14, 2026.
- Revenue for Q1 ended June 30, 2026 recorded at Rs 2.3704 crore
- Operating profit stood at Rs 0.0499 crore for the quarter
- Net profit reported at Rs 0.0506 crore with an EPS of Rs 0.001
- Board meeting commenced at 04:30 PM and concluded at 06:20 PM on August 14, 2026
Spice Lounge Food Works (formerly Shalimar Agencies) has announced a major expansion of its live entertainment vertical, Xora World, with four marquee events scheduled for late 2026. The company projects a total revenue of over ₹20 crore from this portfolio, which is highly material given its TTM revenue of just ₹2 crore. The events include high-profile concerts in Goa, Tirupati, and Hyderabad, culminating in a large-format electronic music festival, 'Circus', in December. This move signals a strategic shift toward the high-growth experiential entertainment sector.
- Projected portfolio revenue of over ₹20 crore from four upcoming marquee events
- Events scheduled across Goa, Tirupati, and Hyderabad between August 15 and December 19, 2026
- Includes the India debut of 'Circus', a large-format electronic music festival, on December 18-19
- Projected revenue represents approximately 10x the company's TTM revenue of ₹2 crore
- Targeting the Indian live events industry which grew 44% in 2025 to ₹14,500 crore
Spice Lounge Food Works has secured a significant contract worth over ₹21 crore from Xora World for live entertainment and event management services. This order is highly material, representing approximately 10.5x the company's TTM revenue of ₹2 crore. The contract is scheduled for execution within a short 4-month window across Goa, Tirupati, and Hyderabad. While the revenue potential is transformative, investors should remain cautious due to the company's 0% promoter holding and existing debt of ₹45 crore.
- Secured a domestic order exceeding ₹21 crore for live entertainment and event management services.
- Order value represents approximately 1,050% of the company's TTM revenue of ₹2 crore.
- Execution timeline is set for a rapid completion within 4 months.
- Events are planned across three key Indian locations: Goa, Tirupati, and Hyderabad.
- The contract is awarded by Xora World, a domestic entity, with no promoter interest involved.
Spice Lounge Food Works Ltd has scheduled a board meeting for August 14, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. The company is a micro-cap entity with a TTM revenue of only ‑2 Cr and a significant debt load of ‑45 Cr. Notably, the promoter holding stands at 0.0%, meaning the company is entirely public-owned. Investors should monitor if the revenue momentum from the March 2026 quarter (‑1.0 Cr) continues into the new fiscal year.
- Board meeting scheduled for August 14, 2026, at 04:30 P.M. to approve Q1 results
- Financials to cover the first quarter ended June 30, 2026
- Company reported a TTM revenue of ‑2 Cr against a total debt of ‑45 Cr
- Promoter holding remains at 0.0% as of the latest March 2026 filing
Spice Lounge Food Works has appointed P.S. Phaninder Nath as Chief Financial Officer (CFO) effective August 6, 2026, following the resignation of Ravi Kumar Paritala for personal reasons. The new CFO is a Chartered Accountant with prior leadership experience at Vivimed Labs Ltd and GSS Infotech Limited. This management transition occurs as the company maintains a very small revenue base of ₹2 Cr (TTM) against a significant debt of ₹45 Cr. Investors should note the company's strategic pivot from restaurants toward IT and BPO services, which aligns with the new CFO's professional background.
- Appointment of P.S. Phaninder Nath as CFO and Key Managerial Personnel effective August 6, 2026.
- Resignation of Ravi Kumar Paritala from the CFO post effective close of business hours on August 6, 2026.
- New CFO is a Chartered Accountant with previous CFO experience at Vivimed Labs and GSS Infotech.
- Company reports a TTM revenue of only ₹2 Cr against a total debt of ₹45 Cr.
- Promoter holding remains at 0.0% as of the latest March 2026 filing.
Spice Lounge Food Works Ltd has announced a transition in its financial leadership effective August 6, 2026. Mr. Ravi Kumar Paritala has resigned as CFO and Key Managerial Personnel (KMP) citing personal reasons. He is replaced by Mr. P.S. Phaninder Nath, a Chartered Accountant with prior CFO experience at Vivimed Labs and GSS Infotech. This leadership change is notable given the company's small revenue base of Rs 2 Cr and significant debt of Rs 45 Cr, as it attempts to pivot from restaurants to IT/BPO services.
- Resignation of Mr. Ravi Kumar Paritala as CFO effective August 6, 2026.
- Appointment of Mr. P.S. Phaninder Nath as the new CFO and KMP on August 6, 2026.
- New CFO brings over a decade of experience, including leadership roles at Vivimed Labs Ltd. and GSS Infotech Limited.
- The company maintains a high debt of Rs 45 Cr against a TTM revenue of only Rs 2 Cr.
- Board meeting for the transition concluded within 90 minutes (16:00 to 17:30).
Spice Lounge Food Works (formerly Shalimar Agencies) has announced the expansion of its Wing Zone brand with a second outlet in Anjanapura, Bengaluru, scheduled for August-September 2026. This follows the brand's initial launch in Koramangala. For a company with a TTM revenue of only ‑2 Cr, the addition of a single outlet represents a significant operational expansion. However, investors should note the company's high debt of ‑45 Cr relative to its current revenue scale.
- Second Wing Zone outlet to be established in Anjanapura, Bengaluru
- Target launch timeline set for August–September 2026
- Expansion targets a TTM revenue base of only ‑2 Cr, making the move highly material
- Company maintains a high debt position of ‑45 Cr as of the latest filings
- Focus on a mix of delivery, takeaway, and dine-in formats for the new location
Spice Lounge Food Works Ltd has announced the successful launch of 'ondesi.ca', a premier online marketplace specifically targeting the Desi Canadian community in Ontario. The platform was developed by Teksoft Systems INC and represents the company's entry into the international digital commerce space. While the launch marks a geographic and sectoral expansion, the filing does not disclose the financial investment, ownership structure of the platform, or projected revenue contributions. Investors should note this move as a diversification beyond its traditional business scope.
- Launch of 'ondesi.ca' marketplace targeting the Desi Canadian demographic in Ontario
- Platform developed in collaboration with or by Teksoft Systems INC
- Announcement made on July 15, 2026, marking a formal entry into the Canadian digital market
- Expansion represents a strategic shift towards international e-commerce services
Spice Lounge Food Works has operationalized its exclusive Master Franchise rights for the American QSR brand Wing Zone by opening its first outlet in Koramangala, Bengaluru. The company has outlined a three-phase expansion strategy, starting with additional outlets in Bengaluru (Anjanapura) before moving to Hyderabad and Chennai. This launch diversifies the company's portfolio, which already includes Buffalo Wild Wings and Blaze Kebabs, into the high-growth chicken QSR segment. While specific investment figures were not disclosed, the move signals a shift toward a multi-brand, nationwide food services platform.
- Secured exclusive Master Franchise rights for Wing Zone, a US-based brand with 30+ years of heritage.
- First outlet opened in Koramangala, Bengaluru, in May 2026, targeting young professionals and students.
- Expansion roadmap includes 3 phases, targeting Bengaluru first, followed by Hyderabad and Chennai.
- Portfolio now comprises 4 key entities: Buffalo Wild Wings, Wing Zone, Blaze Kebabs, and TekSoft Systems Inc.
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents. The company is currently venturing into computer and related services, including outsourcing and software development.
Geographic Revenue Split
Not disclosed in available documents. The company operates from Hyderabad, Telangana, and targets clients in India and abroad.
Profitability Margins
Not disclosed in available documents. Management states that financial statements present a true and fair view, but specific margin percentages are not provided.
Operational Drivers
Raw Materials
Not applicable as the company is a service provider in the IT and outsourcing sector. Primary operational inputs are human capital and technology infrastructure.
Capacity Expansion
Not disclosed in available documents. The company is currently 'venturing with full capacity' into computer-related services and outsourcing.
Raw Material Costs
Not applicable. Service-related costs (employee benefits and training) are prioritized to enhance efficiency and talent retention.
Manufacturing Efficiency
Not applicable. Efficiency is measured by employee training and development to improve service delivery in outsourcing and software solutions.
Strategic Growth
Growth Strategy
The company plans to achieve growth by venturing into the business of computer and related services, providing outsourcing for all business processes, and developing software solutions. This strategy leverages the rising per capita income in India and the transition of the economy into the middle-income category, which drives demand for business services.
Products & Services
Outsourcing services (BPO), IT-enabled services (ITES), software development, consultancy, managed data centers, call center services (inbound/outbound), technical support, and business/financial analysis.
Brand Portfolio
Spice Lounge Food Works Limited (formerly Shalimar Agencies Limited).
New Products/Services
New ventures into managed technical centers, disaster recovery services, and enterprise resource planning (ERP) software development.
Market Expansion
Targeting both Indian and international markets for outsourcing and application service provision.
External Factors
Industry Trends
The Indian financial sector is seeing sustained momentum with reforms in equity capital markets (T+2 settlement, derivatives trading). The IT industry is shifting toward managed services and automated back-office support, which the company is positioning itself to exploit through its new service segments.
Competitive Landscape
The company competes in a vibrant industry with new categories of products and services being offered to meet the needs of an emerging economy.
Competitive Moat
The company focuses on a talent-based moat by prioritizing the attraction and retention of skilled personnel through training and fair compensation, which is critical for maintaining service quality in the ITES sector.
Macro Economic Sensitivity
Highly sensitive to Indian GDP growth and per capita income levels, as these factors drive the domestic demand for business outsourcing and IT services.
Consumer Behavior
Rising consumer demand in India is providing a growth avenue for domestic firms, making the economy more robust and increasing the need for outsourced business support.
Geopolitical Risks
Global uncertainties are cited as a short-term challenge that could impact the stability of international outsourcing demand.
Regulatory & Governance
Industry Regulations
Compliance with the Companies Act 2013, Contract Labour (Regulation and Abolition) Act 1970, Employees Provident Fund Act 1952, and various labor laws including Minimum Wages Act 1948.
Legal Contingencies
No instances of debarment or disqualification of directors by SEBI or the Ministry of Corporate Affairs were reported for the financial year ended March 31, 2025.
Risk Analysis
Key Uncertainties
Short-term challenges include high inflation, rising oil prices, and increasing fiscal deficits, which could impact the cost of operations by approximately 10-15% if sustained.
Geographic Concentration Risk
Registered office and primary operations are concentrated in Hyderabad, Telangana.
Third Party Dependencies
Dependency on external firms of Chartered Accountants for internal audits and technology service providers for software application hosting.
Technology Obsolescence Risk
The company faces risks related to the rapid evolution of software development and ITES; it mitigates this through continuous training and development of its talent pool.
