Vegorama Punjabi Angithi Ltd (VPAL)

About

Vegorama Punjabi Angithi Ltd operates casual dining restaurants in the leisure services segment. With a market cap of ₹348.6 Cr, the company appears to be a regional player focused on traditional Punjabi grill/tandoor formats. The company's ROE of 80.35% suggests strong unit-level economics despite thin operating margins of 10.74% typical of the restaurant industry.

Face value: ₹10

Market cap

₹395 Cr

P/E

32.8×

P/B

—

Dividend yield

0%

ROE

—

ROCE

—

Debt / equity

—

OPM

11.7%

EPS (TTM)

₹7.3

Book value

—

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Valuation: PE of 42.41 is elevated, leaving little room for earnings disappointment if growth moderates
Margin compression: OPM of 10.74% is thin; vulnerable to food and labour cost inflation without pricing power
Liquidity and concentration: Promoter holding of 69.55% and public float of 16.22% limit trading liquidity and minority-shareholder optionality
Sentiment risk: 52-week appreciation from ₹123.1 to ₹210 suggests market euphoria—verify if grounded in disclosed expansion plans or subject to profit-taking

Generated analysis · source review pending

Growth drivers

D/E of 0.35 indicates balance-sheet capacity for expansion financing without dilution—verify management's capital allocation and store/market expansion roadmap
ROE of 80.35% shows strong unit-level returns; growth depends on reinvestment into new stores or markets—verify profit retention rate and disclosed new-store pipeline
Market cap of ₹348.6 Cr indicates small scale in India's casual-dining opportunity; verify company's geographic footprint, addressable market, and disclosed growth targets

Generated analysis · source review pending

85 historical price candles were omitted because the exchange source has not been verified.

₹238.0-0.7%1Y

Quick read

rule-based

Pros

+Strong return on equity of 86.6% (3-yr avg)
+High return on capital employed of 86.4%
+Profit CAGR of 142.9% over the last 3 years
+Revenue CAGR of 102.8% over the last 3 years
+Comfortable interest coverage of 44.6×
+High promoter holding of 69.6% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

66/100

Business quality: 61
Growth: 100
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jubilant Foodworks LimitedJUBLFOODJUBLFOOD	₹29,256 Cr	₹31,001 Cr	₹9,846 Cr	₹1,947 Cr	19.9%	₹450 Cr	4.7%	16%	19.5%	-82
Travel Food Services LimitedTRAVELFOODTRAVELFOOD	₹15,911 Cr	₹15,911 Cr	₹1,725 Cr	₹665 Cr	39.4%	₹476 Cr	27.5%	37.6%	30.6%	-438
Devyani International LimitedDEVYANIDEVYANI	₹15,666 Cr	₹17,027 Cr	₹5,835 Cr	₹898 Cr	15.1%	₹-28 Cr	-0.8%	5.2%	-2.9%	-89
Westlife Foodworld LimitedWESTLIFEWESTLIFE	₹9,168 Cr	₹9,467 Cr	₹2,704 Cr	₹344 Cr	12.8%	₹32 Cr	1.2%	—	5.3%	—
Sapphire Foods India LimitedSAPPHIRESAPPHIRE	₹6,744 Cr	₹6,749 Cr	₹3,239 Cr	₹501 Cr	15.2%	₹-16 Cr	-1%	4.1%	-2.3%	-59
Restaurant Brands Asia LimitedRBARBA	₹6,561 Cr	₹6,830 Cr	₹2,948 Cr	₹356 Cr	11.6%	₹-173 Cr	-7.2%	-0.5%	-23%	-111
United Foodbrands LimitedUFBLUFBL	₹2,709 Cr	₹2,843 Cr	₹1,468 Cr	₹217 Cr	14.4%	₹-40 Cr	-4.6%	1.7%	-18%	-77
Spice Lounge Food Works LtdSPICELOUNGSPICELOUNG	₹1,945 Cr	₹1,990 Cr	₹2 Cr	₹1 Cr	23.9%	₹0 Cr	11.7%	0.4%	0.3%	424
Speciality Restaurants LimitedSPECIALITYSPECIALITY	₹740 Cr	₹740 Cr	₹495 Cr	₹90 Cr	17.4%	₹23 Cr	4.4%	9.7%	6.5%	-53
Coffee Day Enterprises LimitedCOFFEEDAYCOFFEEDAY	₹627 Cr	₹1,206 Cr	₹1,136 Cr	₹165 Cr	12.2%	₹176 Cr	18.8%	1.3%	7.5%	13
Vegorama Punjabi Angithi LtdVPALVPAL	₹395 Cr	—	₹141 Cr	₹16 Cr	11.7%	₹12 Cr	8.6%	—	—	—
Gourmet Gateway India LtdGOURMETGOURMET	₹157 Cr	₹167 Cr	₹193 Cr	₹30 Cr	15.4%	₹-0 Cr	0.1%	6.7%	-0.8%	-64

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	17	66	101	141
COGS	—	—	—	67
Gross profit	—	—	—	73
	16	60	90	57
Operating profit (EBITDA)	1	6	11	16
OPM %	6.9%	9.2%	10.7%	11.7%
Depreciation	0	0	0	1
Interest	0	0	0	0
	0	0	1	1
Profit before tax	—	—	—	16
Tax	0	2	3	4
Tax %	—	—	—	25.1%
	1	5	8	12
PAT margin %	5%	7%	8.1%	8.6%
EPS (₹)	0.7	3.7	6.5	9.5

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	0	0	0	—
Reserves	1	6	14	—
	0	4	5	—
	4	8	5	34
Total equity & liabilities	6	18	25	34
	0	6	10	12
CWIP	0	0	0	—
Investments	0	0	0	0
	5	13	15	22
Total assets	6	18	25	34

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3	7	5	1
	-1	-6	-6	-2
	1	4	1	-1
Net cash flow	—	—	—	-2
Free cash flow	3	2	1	-1
CFO / Operating profit %	262.9%	120.6%	50.3%	8.6%

Compounded sales growth

7 years: —
5 years: —
3 years: 103%
1 year: 39%

Compounded profit growth

7 years: —
5 years: —
3 years: 143%
1 year: 47%

Return on equity

7 years: —
5 years: —
3 years: 63%
Last year: 57%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	52.1%
EBITDA margin %	6.9%	9.2%	10.7%	11.7%
EBIT margin %	6.6%	8.9%	10.5%	11.3%
PAT margin %	5%	7%	8.1%	8.6%
Working capital
Receivable days	13	6	7	—
Inventory days	1	1	1	3
Payable days	—	—	—	—
NWC days	—	—	—	—
Leverage
Current ratio	1.29	1.41	1.71	4.71
Debt to EBITDA	0.2	0.66	0.46	—
Debt to equity	0.16	0.65	0.35	—
Interest coverage	113	104.7	29.9	44.6
Asset turnover	3.02	3.59	4.09	4.14
Return ratios
Return on assets %	15%	25.3%	33.2%	35.4%
Return on capital employed %	69.3%	108.7%	81.3%	68.4%
Return on equity %	57.1%	75.8%	57.3%	—

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Mar 2026
	69.55%
	0.47%
	13.76%
Government	0%
	16.22%
No. of shareholders	705

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Vegorama Punjabi Angithi Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

11

Offer and rights documents

1

Vegorama Punjabi Angithi Ltd — PROSPECTUSListing · 1 May 2026

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

No events on record

Corporate actions, results dates and filings will appear here once ingested.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

11 announcementsExport CSV

5 Sept 2026, 5:33 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

5 Sept 2026, 5:27 pmOthers

Board Meeting Outcome for Board Approved The Notice Of 4Th Annual General Meeting Of The Company Along With Annual Report.

Outcome without intimation PDF

20 Aug 2026, 1:11 pmCompany Update

Intimation Regarding Commencement Of Operations Of New Cloud Kitchen Outlet

General PDF

Date	Category	Subject	Filing
5 Sept 2026, 5:33 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
5 Sept 2026, 5:27 pm	Others Outcome without intimation	Board Meeting Outcome for Board Approved The Notice Of 4Th Annual General Meeting Of The Company Along With Annual Report.

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Vegorama Punjabi Angithi Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Offer and rights documents

Events

No events on record

Announcements

Ratio timeline

Quarterly record

Board and management

Not in the F&O segment

No events on record

No fund holdings on record

Announcements

Offer and rights documents

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity