Spice Lounge Food Works Limited has accepted the resignation of Ravi Kumar Paritala as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective from the close of business hours on August 6, 2026. The company simultaneously appointed P.S. Phaninder Nath to the role, ensuring continuity in its financial leadership. This transition follows a Board meeting held on August 6, 2026, where directors reviewed the departure and approved the successor based on recommendations from the Nomination and Remuneration Committee and the Audit Committee.

The resignation was filed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. Mr. Paritala cited personal reasons for his decision to step down from the CFO post. In his resignation letter, he confirmed that there were no other material reasons for his departure beyond those stated. Notably, Mr. Paritala indicated that he will continue his association with the company in a capacity other than CFO.

P.S. Phaninder Nath assumes the role of CFO and KMP effective August 6, 2026. A Chartered Accountant based in Hyderabad, Telangana, Mr. Nath brings extensive executive leadership experience in financial planning, reporting, regulatory compliance, internal controls, and ERP implementations. His appointment addresses the immediate need for senior financial oversight at the listed entity.

Leadership Transition Details

Mr. Nath’s professional background includes serving as CFO at Vivimed Labs Ltd. and GSS Infotech Limited. He also held the position of Head of Administration & Compliance at Clariant India Limited and Finance Vice President at Vivimed Labs Ltd. Earlier in his career, he worked as an SAP FICO Functional Consultant and Financial Controller, providing him with foundational technical expertise alongside his strategic leadership roles.

The Board meeting that approved these changes commenced at 4:00 PM and concluded at 5:30 PM IST. The company disclosed the information under Regulation 30 read with Schedule III - Para A (7) of Part A of the SEBI Listing Regulations and SEBI Master Circular Ref. No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023. No relationships between directors were disclosed in connection with Mr. Nath’s appointment.

What the Numbers Show

While this filing does not contain financial performance metrics, the timing of the leadership change is notable for investors monitoring corporate governance stability. The immediate replacement of the CFO by a professional with prior experience in similar listed entities suggests a structured succession plan rather than an abrupt vacancy. Mr. Nath’s dual background in compliance (Clariant) and technology-enabled finance (SAP FICO, GSS Infotech) may indicate a focus on strengthening internal controls and financial reporting systems at Spice Lounge Food Works Limited.

Spice Lounge Food Works opened its second Wing Zone outlet in Anjanapura, Bengaluru, between August and September 2026, expanding the American quick service restaurant (QSR) brand's presence in South India. This development follows the company's inaugural launch in Koramangala in May 2026. The new outlet targets the growing student and residential community in Anjanapura, 6th Block, offering signature wings, burgers, wraps, and value-driven options through dine-in, takeaway, and delivery channels.

The company secured exclusive master franchise rights for Wing Zone to lead the brand's development and nationwide expansion. The Indian market opportunity is driven by rising demand for premium chicken QSR brands, growing preference for global food experiences, rapid urbanisation, and increasing disposable incomes.

Expansion Strategy

The company is executing a phased expansion roadmap for Wing Zone in India. The initial phase focuses on establishing a strong presence in Bengaluru before moving to other metropolitan cities.

Koramangala was selected as the launch destination due to its vibrant food and beverage ecosystem and high concentration of young professionals. The Anjanapura location extends this reach to South Bengaluru's residential clusters, supported by hyperlocal marketing and community-led launch campaigns.

Brand Portfolio

Spice Lounge Food Works is building a diversified portfolio of food brands. The addition of Wing Zone complements its existing brands, which include Buffalo Wild Wings, Blaze Kebabs, and TekSoft Systems Inc. The company stated that this partnership reinforces its commitment to building a diversified, multi-brand food services platform in India.