Speciality Restaurants: consolidated PAT +39% YoY on margin expansion, revenue +17%

Consolidated PAT came in at ₹7.11 Cr, up 38.8% YoY (₹5.12 Cr) and up 149% QoQ off a soft ₹2.85 Cr Q4FY26 base; consolidated revenue was ₹127.03 Cr, up 16.8% YoY and 9.1% QoQ. Standalone PAT of ₹6.89 Cr grew a slower 21.2% YoY — the gap versus consolidated is explained by the subsidiary book: minority interest (NCI) swung to +₹0.11 Cr from -₹0.28 Cr a year ago, meaning international units that were dragging group profit last year are now marginally profit-positive. Neither this quarter nor the year-ago quarter carried an exceptional item, so the growth is clean rather than base-effect driven.

Margins expanded on both lines: OPM (EBITDA margin) rose to 19.17% from 16.42% YoY and 15.06% QoQ, while NPM improved to 5.42% from 4.47% YoY. The driver is operating leverage on the cost base — employee expense eased to 20.8% of revenue from 22.6% YoY, lease rent to 3.3% from 4.1%, and food & beverage cost to 28.3% from 29.4% — partly offset by other expenses ticking up to 28.5% of revenue from 27.5%. Depreciation rose 15.4% YoY to ₹15.45 Cr as new-store right-of-use assets accumulate under Ind AS 116, consistent with the company's stated FY27 store-addition plan; finance cost was flat YoY at ₹3.72 Cr.

The stock went into the print at ₹151, up 23.4% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters.

NCI turned to +₹0.11 Cr from -₹0.28 Cr YoY — owners' share of consolidated PAT ₹7.00 Cr, +29.8% YoY. EPS (basic, consolidated) ₹1.45 vs ₹1.06 YoY vs ₹0.69 QoQ.

Revenue growth of 16.8% YoY runs ahead of the ≥15% floor management guided at the Q4FY26 call (targeting FY27 revenue above ₹600 Cr) — encouraging for one quarter, though restaurant-sector seasonality is typically back-loaded toward H2/festive quarters, so this alone doesn't confirm the full-year number. Street coverage (a Univest Q1FY27 preview) had pegged consolidated PAT at roughly ₹6-8 Cr, built off the Q1FY26 base; the actual ₹7.11 Cr lands within that range. No management press release accompanied this filing, so there is no fresh company commentary to set against the print beyond the numbers themselves.