Grill Splendour Services Ltd - Stock Valuation and Financial Performance

Grill Splendour Services Limited was incorporated as Grill Splendour Services Private Limited on November 29, 2019 under the Companies Act, 2013 with the Registrar of Companies, Mumbai. The status of the Company was changed to public limited and the name of the Company was changed to Grill Splendour Services Limited vide Special Resolution dated August 14, 2023 pursuant to conversion of the Company into public limited Company. The fresh certificate of incorporation consequent to conversion was issued on September 06, 2023 by the Registrar of Companies, Mumbai.

The company is engaged in the business of selling Bakery and patisserie food items through chain of Birdy’s store. The company is a chain of gourmet Bakery and Patisserie spread across Mumbai through retail stores, a centralized production facility and multiple corporate clients. It offers fresh food products from traditional to ‘made to order’ as required by the Customers. The company was incorporated in November 2019 as a hospitality company to acquire the bakery and confectionary business along with brand Birdy’s Bakery and Patisserie from WAH Restaurants. The acquisition was done via a Business Transfer and Intellectual Property Assignment Agreement dated December 27, 2019 (Acquisition Agreement). After that the company proceeded to invest in the business and grow the brand and spread presence. The brand Birdy’s was originally set up as ‘Birdy’s by Taj’. Over a period, it was sold to WAH Restaurants and from them the same was acquired by the company vide above referred Acquisition Agreement. The primary focus of the Company was to bring back the quality and sheen of the brand. 

Its production facility is largely based on a manual production format. The food items are handmade by its chefs and they are of various varieties / sizes and types accordingly, there is no possibility to work out capacity. Hence capacity and capacity utilization does not apply to its business. The Promoters of the company, Srinidhi V Rao and Vandana Srinidhi Rao, individually have many years of experience in Hospitality industry. Its vision is to make available affordable experiential stores to meet every aspirational needs of individuals. Its Promoters inspirational leadership has led Grill Splendour Services (GSSL) to be recognised as one of the trusted food chains in its region. Further, the Company is managed by a team of experienced personnel. The team comprises of personnel having customer relationship, operational, marketing and business development experience.

Business area of the company

The company is engaged in the business of selling Bakery and patisserie food items through chain of Birdy’s store. The company is a chain of gourmet Bakery and Patisserie spread across Mumbai through retail stores.

Products of the company

• Cakes & Pastries
• Food sale (It offers ready to eat savories like croissants, puffs, sandwiches etc.)
• Beverages (It includes cold and Hot beverages)
• Desserts sales (It includes brownies, cupcakes, muffins and tea cake)

History and milestones

• 2019: Incorporation of the Company.
• 2019: Acquisition of Business and Birdy’s Brand from Wah Restaurants Private Limited
• 2020: The central confectionary commissary / Bakery, Kitchen and 1st Store started operations at Wadala.
• 2020: Purchase of two CNG air cooled delivery vehicles.
• 2020: Commenced operations at a Birdy’s shop at Versova.
• 2021: New stores at Powai and Veera Desai Road, Andheri
• 2021: Purchased 3rd CNG refrigerated van.
• 2021: New Birdy’s outlets at Ghatkopar.
• 2021: Moved to new larger corporate office for the company at Wadala.
• 2021: Moved to a new store room for Birdy’s material management at Wadala.
• 2022: Opened a new Birdy’s outlet at Prabhadevi, Ghatkopar, Mahim and IC Colony, Borivali.
• 2022: Commenced supply of foods to B2B customers Wagh Bakri Tea Lounge as well as MARS Restaurants.
• 2022: Commenced catering services as well as a Birdy’s outlet at Tata Trent Headquarter at BKC, Mumbai.
• 2022: Purchase 4th CNG refrigerated van.
• 2022: Supply of foods to B2B customers of Coffee Day, Barista and IBIS hotels.
• 2023: Expansion of central confectionary kitchen at Wadala.
• 2023: Opened New Birdy’s outlet at Kemps Corner.