Speciality Restaurants targets ₹600 cr revenue after new CEO and an April sales surge
Same-store sales jumped 11.57% in April after renovations, following a sluggish 2.25% in Q4. The company plans to add 32 outlets and named a new CEO.
— 1 earlier story on Speciality Restaurants Ltd. →What's new
- April same-store sales growth hit 11.57% after renovations, up from 2.25% in the March quarter.
- New CEO Avik Chatterjee appointed; plans to add 32 new outlets in FY27 including 8 restaurants and 25 quick-service formats.
- 78% of kitchens converted to induction cooking to beat LPG shortages; full conversion within 20 days at ₹1.12 cr cost.
Why this matters
The 2.25% Q4 growth was weak, but the April acceleration to 11.57% suggests renovations are working. A new CEO, a clean balance sheet with ₹103 cr net cash, and a full pipeline of 32 outlets give the story a clear catalyst. The LPG conversion is a practical hedge against a real operational risk.
What we're watching
- Whether the 11.57% April growth sustains through May-June.
- Execution of the 32-outlet rollout, especially the new Walters and Sweet Bengals formats.
- Impact of induction cooking on kitchen costs versus the ₹1.12 cr one-time spend.
The full read
Speciality Restaurants has a new CEO and a new sales trend. Avik Chatterjee takes over after same-store sales growth accelerated to 11.57% in April, a sharp rebound from the 2.25% it reported for the March quarter. Management credited renovations for the uplift. The company is now planning to add 32 new outlets in FY27, including 8 restaurants, 15 Walters, and 10 Sweet Bengals, to support a revenue target of ₹600 crore — at least 15% growth. The operational backdrop is mixed: 78% of kitchens have been converted to induction cooking to sidestep an LPG shortage, a move costing ₹1.12 crore and set for completion within 20 days. The balance sheet is clean, with ₹103 crore in net cash and only ₹40 crore earmarked for capex. The April number is the first real evidence that the renovation strategy works. The next test is whether it holds.
Questions answered
- What is the new revenue target for FY27?
- Speciality Restaurants expects revenue to grow at least 15% to ₹600 crore in FY27, driven by new outlets and the acceleration in same-store sales.
- Why did same-store sales jump from 2.25% to 11.57%?
- The 2.25% growth in Q4 FY26 was followed by an 11.57% surge in April, which management attributed to renovations lifting performance at existing outlets.
- What is the plan for new outlets?
- The company plans to open 32 new outlets in FY27, including 8 full-service restaurants, 15 Walters outlets, and 10 Sweet Bengals.
- How is the company addressing the LPG shortage?
- It has converted 78% of its kitchens to induction cooking and plans to complete the full switch within 20 days. The total cost is ₹1.12 crore.
- What is the company's financial position?
- Speciality Restaurants has net cash of ₹103 crore after adjusting for debt and plans ₹40 crore in capex for the year.
Speciality Restaurants Ltd.
Latest quarter · Mar 2026
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All notes on SPECIALITY →- 26 May 2026 · 2:26 PM IST Speciality Restaurants targets ₹600 cr revenue after new CEO and an April sales surge
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