Stock Below Rs 50 Hits 5% Upper Circuit as Company Targets Rs 1,200 Crore Revenue
Join Us
Follow Us
A Rs 23 stock has hit its 5 per cent upper circuit after Spice Lounge Food Works Ltd. launched a new food emulsifier and agro division targeting revenue of over Rs 1,200 crore.
✨ Key Takeaways
Spice Lounge Food Works Ltd. has launched its Food Emulsifier & Agro Division, marking the company's entry into food emulsifiers, agricultural sourcing and processing, along with agro chemicals.
The new vertical is aimed at strengthening the company's supply chain through backward integration and is targeting revenue of over ₹1,200 crore.
Following the announcement, the company's shares hit the 5% Upper Circuit. The stock opened at Rs 23.42 and touched an Intraday high of Rs 23.43.
New Food Emulsifier and Agro Division
The newly launched division will supply ingredients to Spice Lounge Food Works' existing restaurant, QSR and live-events businesses, including its Xora World platform.
The company also plans to develop the division as an independent B2B food emulsifier and ingredient supplier, catering to hotels, QSR chains and food processing units.
As part of the expansion, the company is working on food emulsifier manufacturing, agro-chemical partnerships, farm-gate sourcing tie-ups and processing infrastructure.
The company said that processing capacity scale-up and onboarding of B2B and institutional customers are expected to follow. It also plans to explore export opportunities and global joint-venture partnerships.
Xora World Expands Live Entertainment Portfolio
The company's expansion comes alongside its growing focus on live entertainment through Xora World.
Earlier, Spice Lounge Food Works Ltd. announced a four-event portfolio covering destinations including Goa, Tirupati and Hyderabad.
The line-up includes performances by two prominent Indian playback singers and a global dance festival. The events are expected to generate over ₹20 crore in revenue, according to the company.
The portfolio is part of Xora World's broader strategy to build a national presence in India's live entertainment market.
About Spice Lounge Food Works Ltd.
Spice Lounge Food Works Ltd. operates across food, beverage, hospitality and entertainment.
Its portfolio includes proprietary and franchised concepts spanning casual dining, premium pubs, nightlife and live events. The company has also built franchise relationships and operates brands such as Blaze Kebabs, Xora, Salud, Buffalo Wild Wings and Wing Zone, among others.
With the launch of the Food Emulsifier & Agro Division, the company is looking to expand beyond its existing hospitality operations and build a presence in the B2B food ingredients and agricultural supply chain.
Disclaimer: The article is for informational purposes only and not investment advice.