Gourmet Gateway India Reports Q2 Profit Amid Ongoing ED Investigation
Gourmet Gateway India Limited posted a consolidated profit of ₹53.88 crore for Q2 FY2026, reversing a loss from the previous quarter. Revenue increased to ₹1,951.78 crore. The company converted 316,667 equity warrants into shares, receiving ₹62.22 crore. An ongoing investigation by the Directorate of Enforcement continues, with a Provisional Attachment Order affecting shares held by the Promoters/Promoter Group. Management maintains confidence in meeting financial obligations despite the scrutiny.
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Gourmet Gateway India Limited (formerly known as Intellivate Capital Ventures Limited) has released its financial results for the quarter ended September 30, 2025, showing a turnaround to profit amid an ongoing investigation by the Directorate of Enforcement (ED).
Financial Performance
The company reported a consolidated revenue of ₹1,951.78 crore for Q2 FY2026, marking an increase from ₹1,832.73 crore in the previous quarter. More notably, Gourmet Gateway posted a consolidated profit of ₹53.88 crore for the quarter, a significant improvement from a loss of ₹66.45 crore in the prior quarter.
| Particulars | Q2 FY2026 | Q1 FY2026 |
|---|---|---|
| Revenue | ₹1,951.78 crore | ₹1,832.73 crore |
| Profit/(Loss) | ₹53.88 crore | (₹66.45 crore) |
Despite the quarterly profit, the company recorded a consolidated loss of ₹12.56 crore for the six-month period ended September 30, 2025.
Business Operations
Gourmet Gateway India operates in the food and beverages segment and has 12 subsidiary companies, including Barista Coffee Company Limited. The company's business activities fall within a single segment, as per Ind AS 108- Segment Reporting.
Corporate Actions
During the quarter, Gourmet Gateway converted 316,667 equity warrants into shares, receiving ₹62.22 crore. This conversion is part of a larger warrant issue from the previous year, where the company had issued 45,44,410 convertible equity warrants at a premium of ₹25.20 per share, amounting to ₹119.64 crore.
Additionally, in the quarter ended June 30, 2025, the board approved the conversion of 26,65,242 Compulsory Convertible Preference Shares. The company also allotted 53,30,484 bonus shares in the ratio of 2:1 to the allottees upon conversion.
Ongoing ED Investigation
The company continues to face scrutiny from the Directorate of Enforcement. A Provisional Attachment Order dated September 5, 2024, was passed by the Deputy Director, Directorate of Enforcement, Gurugram, under the Prevention of Money Laundering Act, 2022. This order provisionally attached shares and other securities held directly or indirectly by the Promoters/Promoter Group of the company.
The management of Gourmet Gateway and its subsidiaries states that they are cooperating with ED officials and providing necessary information. As of the date of the financial results, no show cause notice or demand has been served to the company or its subsidiaries arising from the search operations.
The company's management maintains that they are confident of no contravention under the PMLA and have not identified any adjustments or impacts on the financial results due to this matter. However, as the proceedings are ongoing, the situation remains under close watch.
Looking Ahead
Despite the challenges posed by the ED investigation, Gourmet Gateway's management expresses confidence in meeting its financial obligations. They base this on expected future cash flows from the warrants issued and cash inflows from operations.
As the company navigates through these complex times, investors and market watchers will be keenly observing how Gourmet Gateway balances its operational growth with the ongoing regulatory scrutiny.
Historical Stock Returns for Gourmet Gateway India
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.76% | +5.03% | +3.69% | +4.49% | -29.35% | -64.69% |
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