BSE: 544765
Vegorama Punjabi Angithi Limit
Operates a pure vegetarian cloud kitchen chain serving food through delivery, with FY26 revenue of Rs 140.87 crore. Around 93.8 percent of revenue comes from digital channels, reflecting a delivery-led model rather than dine-in. The chain runs outlets across NCR locations including Noida (Sector 4 and Sector 141) and Dwarka, and plans to add 10 new cloud kitchens in FY27 in NCR, followed by 10 more in FY28 across Chandigarh, Mohali and Jaipur, with a long-term target of over 50 kitchens. A separate fine-dine restaurant and celebration hall in Gurgaon is planned for FY27-28. Materials/raw ingredients form the largest cost at 47.9 percent of revenue, followed by other operating expenses at 32.8 percent and employee costs at 7.7 percent, while capex is light at 1.8 percent of revenue. The company got listed on the BSE SME platform on 27 May 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cloud kitchen food sales (94%), Fine-dine and celebration hall. Asset-light, delivery-led pure vegetarian cloud kitchen chain, recently listed SME
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 141 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 9.54 |
| ROE % · ROCE % | — · 54.4 |
| Debt / equity (x) | — |
| Cash from operations | 1 |
| Capex | (3) |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 73 |
| Profit before tax | 8 |
| Net profit | — |
| EPS (₹) | 4.48 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JUBILANT FOODWORKS LTD | 28,340 | 65.4 | 11.87 | 15.5 | 18.6 | 8.8 | 23.5 | 20.3 |
| TRAVEL FOOD SERVICES LTD | 14,946 | 31.4 | 10.21 | 20.0 | 30.9 | 33.5 | — | 46.0 |
| DEVYANI INTERNATIONAL LTD | 14,777 | — | 7.84 | 17.9 | (2.3) | (1.1) | — | 17.3 |
| WESTLIFE FOODWORLD LTD | 9,325 | 293.1 | 15.06 | — | 5.2 | — | 21.6 | 13.5 |
| RESTAURANT BRAND ASIA LTD | 6,840 | — | 9.93 | 18.9 | (29.6) | (7.8) | — | 14.6 |
| SAPPHIRE FOODS INDIA LTD | 6,444 | — | 4.64 | 13.4 | (2.3) | (1.4) | — | 16.3 |
| UNITED FOODBRANDS LIMITED | 2,564 | — | 7.98 | 12.9 | (19.3) | (6.3) | 21.4 | 16.7 |
| SPICE LOUNGE FOOD WORKS LIMITE | 1,413 | 56.3 | 11.49 | 91.8 | 7.9 | 3.9 | — | 13.9 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 51.1 | 56.3 | 4 of 9 | 63% |
| ROCE | 53.2 | 2.4 | 1 of 12 | 100% |
| Market cap | 289 | 2564 | 10 of 13 | 25% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · RTA cert confirms all shares held in demat form | compliance | minimal | — | — |
| 30 Sept 2026 · 4th AGM voting results: both resolutions passed with 100% support | compliance | minimal | — | — |
| 29 Sept 2026 · Vegorama Punjabi AGM concludes; PAT up 47 percent YoY to 1203.71 lakhs | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · Appointment of Ms. Shefali Garg as Company Secretary and Compliance Officer | management changes | medium | — | — |
| 22 Sept 2026 · Trading Window Closure from October 1, 2026 for Q2 FY26 Results | compliance | minimal | — | — |
| 14 Sept 2026 · New cloud kitchen outlet opens in Dwarka, Delhi | business updates | medium | — | — |
| 14 Sept 2026 · New cloud kitchen outlet opens in Uttam Nagar, Delhi on Sept 14, 2026 | business updates | low | — | — |
| 7 Sept 2026 · AGM notice published in newspapers; 4th AGM on September 29, 2026 | compliance | minimal | — | — |
| 5 Sept 2026 · E-voting facility for 4th AGM opens Sep 26, ends Sep 28 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Vegorama Punjabi Angithi submits 4th Annual Report for FY 2025-26 along with AGM notice | compliance | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.