Spice Lounge Food Works Limited , formerly known as Shalimar Agencies Limited, has taken a significant step towards expanding its business operations. The company's Board of Directors has approved the creation or incorporation of subsidiary companies, both in India and abroad, during a board meeting held on September 9, 2025.

Key Details of the Board Meeting

• Date: September 9, 2025
• Venue: Registered office of the company
• Duration: 4:00 PM to 8:50 PM

Board Decision

The board has authorized Chairman/Director Mr. Mohan Babu Karjela to handle all necessary actions related to this strategic decision. This move suggests that Spice Lounge Food Works Limited is looking to diversify its operations and potentially enter new markets.

Company Information

Spice Lounge Food Works Limited, operating under the CIN: L151226TG1981PLC114084, is headquartered at:

5th Floor, Western Dallas Centre, Survey No. 83/1, Knowledge City, Raidurg, Rangareddy, Madhapur, Hyderabad, Shaikpet, Telangana, India - 500081

Regulatory Compliance

The company has duly informed the stock exchanges about this development, in compliance with Regulations 29 and 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to the BSE Limited, Metropolitan Stock Exchange of India Limited, and The Calcutta Stock Exchange Limited.

Management Statement

Mr. Babu Edalamapti Purushotham, the Managing Director of Spice Lounge Food Works Limited, signed off on the official communication to the stock exchanges, underlining the importance of this decision in the company's growth strategy.

This move by Spice Lounge Food Works Limited to create subsidiary companies could potentially lead to expanded operations and new business opportunities.

Spice Lounge Food Works Limited , formerly known as Shalimar Agencies Limited, has reported mixed financial results for the first quarter. The company, which operates in the software and IT services as well as food and restaurant services segments, saw divergent outcomes in its standalone and consolidated performances.

Standalone Performance

On a standalone basis, Spice Lounge Food Works posted a net profit of Rs 16.85 lakhs for Q1, marking a significant turnaround from the loss of Rs 1.50 lakhs reported in the same quarter of the previous year. The company's revenue from operations stood at Rs 36.92 lakhs, showing robust growth compared to the previous year.

Consolidated Results

However, the consolidated financial picture painted a different story. Despite reporting higher revenue from operations of Rs 3,229.45 lakhs, the company recorded a net loss of Rs 118.24 lakhs on a consolidated basis. This loss comes in contrast to the profit seen in the standalone results, indicating challenges in the broader business operations.

Segment-wise Performance

The consolidated results revealed two primary operating segments:

1. Software and IT Services: This segment generated revenue of Rs 2,561.33 lakhs and a profit of Rs 141.84 lakhs before tax and interest.
2. Food and Restaurant Services: This segment reported revenue of Rs 668.12 lakhs but incurred a loss of Rs 191.69 lakhs before tax and interest.

Financial Highlights

Management Commentary

Mohan Babu Karjela, Chairman and Director of Spice Lounge Food Works Limited, signed off on the financial results. The company's board meeting to approve these results was held on August 14, commencing at 5:00 PM and concluding at 7:20 PM.

Outlook

While the standalone results show improvement, the consolidated loss indicates ongoing challenges, particularly in the Food and Restaurant Services segment. The company's performance in the coming quarters will be crucial to understand if it can turn around its consolidated results and leverage the strength shown in its standalone operations.

Investors and stakeholders will be keenly watching how Spice Lounge Food Works navigates these mixed results and works towards improving its overall financial health across all business segments.