Multibagger stock: This restaurant counter has doubled in nearly 2 months, surged 185% in a year – what should investors know?
The stock closed on Monday at its highest level since April 2015 and touched a record high of Rs 227 per share on June 14, 2012.
Hitting a seven-year high, Speciality Restaurants' share price has doubled in nearly two months from Rs 104 apiece on June 20, 2022, to Rs 205 on Monday. The stock surged over 13 per cent to touch a new 52-week high on Rs 209.9 apiece on the BSE intraday today.
The stock closed on Monday at its highest level since April 2015 and touched a record high of Rs 227 per share on June 14, 2012.
In the June-end quarter of fiscal 2022-23, the company’s consolidated profit stood at Rs 15.03 crore against a loss of Rs 8.57 crore year-on-year (YoY). Its consolidated revenue from operations more-than-doubled to Rs 89.97 crore in Q1FY23 from Rs 30.43 crore in the same quarter year ago.
The management of Speciality Restaurants on April-June quarter performance said that some tactical measures of cost controls and stream-lining business processes have led to rationalization of the costs, which resulted in savings and hence improved profitability.
The share price of the company, mainly engaged in the business of operating restaurant outlets/sweet shops, has almost doubled, or zoomed 97 per cent from on a closing basis. While it has gained over 51 per cent in the last one month on the BSE, as against 8 per cent rise in the S&P BSE Sensex.
The stock in the last one year has registered a growth of over 185 per cent as compared to over 8 per cent rise in the S&P BSE Sensex during the same period.
Speciality Restaurants is engaged in the business of operating restaurants and confectionaries with restaurants across India, Qatar, UAE and United Kingdom.
The company has restaurant brands such as Mainland China, Asia Kitchen by Mainland China, Riyasat, Barishh, Episode One, Oh! Calcutta, Sigree/Sigree Global Grill, Haka, Flame & Grill, Café Mezzuna, and Hoppipola offer a variety of cuisines and dining formats.
Sweet Bengal and Dariole are company’s confectionary brands of the company.
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