Speciality Rest. Q2 FY27 Results (NSE: SPECIALITY)
Signal: Steady quarter
The read
Q2FY27 marks a stronger growth phase: consolidated revenue accelerated to +16.7% YoY from +7.2% in Q3FY26 and +13.0% in Q4FY26, while EBITDA margin reached 21.45%, the second-highest recent level after Q3FY27's 21.09% only because the prior series labels Q3FY26 at 21.09%; PAT rose 52.6% YoY to 681.40 lakh, with the improvement mainly operating rather than subsidiary-led.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹135.83 Cr | +16.7% | +6.9% |
| EBIT | ₹12.52 Cr | +36.1% | |
| Net profit | ₹6.81 Cr | +52.6% | |
| EPS | ₹1.43 | +49.0% | |
| EBIT margin | 21.45% |
P&L walk
Consolidated revenue increased 16.7% YoY to 13,583.27 lakh and EBITDA margin rose to 21.45% from 21.12%, with employee cost growing 11.9% and finance cost only 2.1%, while PAT grew 52.6% to 681.40 lakh.
Segments
The group is effectively single-segment; subsidiaries contributed 605.76 lakh of quarterly revenue and only 5.87 lakh of PAT above standalone, so the consolidated trajectory is still primarily driven by the parent restaurant business.
Key positives
- Consolidated revenue reached 13,583.27 lakh, up 16.7% YoY and 6.9% QoQ, accelerating from 11.6% YoY growth in Q2FY26.
- Consolidated EBITDA margin expanded 33bps YoY to 21.45%, while employee cost grew 11.9% versus revenue growth of 16.7%.
- Standalone PAT increased 41.7% YoY to 675.53 lakh, and operating cash flow for H1FY27 rose to 5,109.18 lakh from 3,130.25 lakh.
Key concerns
- Subsidiaries added only 5.87 lakh of quarterly PAT over standalone, so consolidated earnings remain highly dependent on the parent restaurant network.
- Depreciation increased 21.9% YoY to 1,662.42 lakh, faster than revenue growth of 16.7%, reflecting a rising fixed-cost burden as the asset base expands.
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