Vegorama Punjabi AngithiShare price, financial results, shareholding and management
- Market cap
- ₹439 cr
- Stock P/E
- 36.4peers 14.0
- Book value
- ₹16.3
- Price to book
- 16.20
- EV / operating profit
- -
- Market cap to sales
- 3.11
- ROCE · FY26
- 65.6%
- ROE · FY26
- 58.7%
- ROE, 3-year average
- 93.0%
- Operating margin · FY26
- 11.7%peers 14.9%
- Sales growth, 3 years
- 102.4%
- Profit growth, 3 years
- 129.2%
- Debt to equity
- 0.15peers 0.21
- Borrowings
- ₹4 cr
- Interest cover
- 44.4×
- Cash from business / op. profit
- 6%
- Debtor days
- 7
- Pledged
- 0.00%
- Promoter holding
- 69.55%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 395
- 52-week high / low
- ₹264 / ₹117
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Vegorama Punjabi Angithi share price chart
Close on 6 Nov 2026 · +4.99% on the day · Vol 35,200
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +4.8%
- 3 months
- +30.2%
- Traded a day, 20 days
- ₹0.45 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +39% | +50% |
| 3 years, a year | +102% | +129% |
| Latest half, H2 FY26 | +34% | +89% |
About Vegorama Punjabi Angithi: business, products and customers
Vegorama Punjabi Angithi cooks pure vegetarian North Indian meals in small delivery kitchens across Delhi NCR and reaches most customers through food delivery apps; it also runs two restaurants and a catering service. Its shares trade on BSE SME.
The business began in 2014 as a single outlet in Paschim Vihar, New Delhi, run under Deepak Chadha HUF, and moved into the company in 2022. It runs cloud kitchens, small kitchens of about 400 to 870 sq ft with no seating that cook only for delivery, under brands such as Punjabi Angithi, Dilli Tawa Parantha, Chinese Veg Crunch, Food of Dreams and Swaad of Punjab. It also has two fine-dining restaurants in Delhi NCR, takeaway and corporate thali services, and catering, and has started operations in Dehradun, its first city outside NCR.
The delivery apps are the shop front: online ordering brought in 91.7% of FY26 revenue, and its two largest customers, both delivery platforms, were about 92% of revenue in the nine months to December 2025; the annual report names Swiggy and Zomato among the platforms it uses. This shapes the numbers. The platforms collect from diners and pay the company, so money owed to it is small, but their commissions and ranking rules sit between the company and its customers. Food and ingredients took about 48% of FY26 revenue, and the kitchens are rented and cheap to fit out, so returns on capital are high while profit is about eight rupees in a hundred of sales.
Read more about the business
In FY26 the profit did not turn into much cash: ₹6.2 cr went out as advances for property and equipment to three parties and was counted in operating cash flow, on top of an older ₹2.7 cr advance and a ₹1.0 cr inter-corporate deposit. Rent paid to promoter family members for premises rose from about ₹6 lakh to about ₹53 lakh in the year. The May 2026 share sale at ₹77 raised ₹30.7 cr for the company, mainly for a banquet and fine-dine building in Gurugram, a central kitchen and new cloud kitchens.
The offer document compares the company with three listed food businesses, Vikram Kamats Hospitality, Galaxy Cloud Kitchen and Speciality Restaurants. On its own table, Galaxy Cloud Kitchen made losses in each of the three years shown, while the other two run restaurants. The annual report describes competition from organised quick-service and cloud kitchen chains and from a large unorganised sector of local eateries.
From the offer document (Prospectus, May 2026: business, objects of the issue, management, litigation), the FY26 annual report (directors' report, management discussion, financial statements and notes) and the July 2026 investor presentation.
Read the deeper study ↓In its favour
- Sales have grown very fast: 102% a year over three years.
- It earns a high return on the money it uses: ROCE 66% in FY26.
- It has little debt for its size: debt to equity 0.15.
- The promoters own a large part of the company: 69.55%.
To watch
- The Income Tax investigation: summons to the company, its promoters and Deepak Chadha HUF over FY2020-21 to FY2024-25, part of an industry-wide check of ERP and POS sales data, with no finding or demand so far (Offer document, p.259; Annual report FY26, p.59).
- The kitchen rollout against the target of ten new kitchens in FY27 and two each quarter (Investor presentation, July 2026, p.9 and p.17).
- The Gurugram banquet and fine-dine building, due early in FY2027-28, partly on a plot to be leased from Deepak Chadha and Teenu Chadha for ten years (Investor presentation, July 2026, p.16; Offer document, p.94).
- Whether profit turns into cash, and what becomes of ₹8.9 cr of capital advances and a ₹1.0 cr inter-corporate deposit; a note to the accounts says debtor and creditor balances are subject to confirmation (Annual report FY26, p.51, p.54, p.55 and p.59).
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Vegorama Punjabi Angithi revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Vegorama Punjabi Angithi half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H2FY26 | |
|---|---|---|
| Sales | 54 | 72.58 |
| Expenses | 50 | 64.88 |
| Operating profit | 4 | 7.70 |
| OPM | 7.0% | 10.6% |
| Interest | 0 | 0.17 |
| Depreciation | 0 | 0.33 |
| Profit before tax | 4 | 7.54 |
| Net profit | 3 | 5.66 |
Vegorama Punjabi Angithi profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 17 | 66 | 101 | 140.87 |
| Expenses | 16 | 60 | 90 | 124.41 |
| Operating profit | 1 | 6 | 11 | 16.46 |
| OPM | 7.0% | 9.0% | 11.0% | 11.7% |
| Other income | 0 | 0 | 1 | 0.59 |
| Interest | 0 | 0 | 0 | 0.37 |
| Depreciation | 0 | 0 | 0 | 0.56 |
| Exceptional and other items | · | · | -1 | · |
| Profit before tax | 1 | 6 | 11 | 16.05 |
| Tax rate | 0.0% | 16.7% | 27.3% | 25.0% |
| Net profit | 1 | 5 | 8 | 12.04 |
| EPS ₹ | 84 | 464 | 818 | 9.54 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share before FY26 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Vegorama Punjabi Angithi profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 7.0% | 9.0% | 11.0% | 11.7% |
| Tax rate | 0.0% | 16.7% | 27.3% | 25.0% |
| ROCE | · | 108.1% | 75.6% | 65.6% |
| ROE | · | 140.8% | 79.6% | 58.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Vegorama Punjabi Angithi debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and drew on its cash. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Vegorama Punjabi Angithi balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 0.05 | 0.05 | 0.05 | 13 |
| Reserves | 1 | 6 | 14 | 14 |
| Net worth | 1.05 | 6.05 | 14.05 | 27 |
| Borrowings | 0 | 4 | 5 | 4 |
| Other liabilities | 4.95 | 7.95 | 5.95 | 3 |
| Total liabilities | 6 | 18 | 25 | 34 |
| Fixed assets | 0 | 6 | 10 | 12 |
| Capital work in progress | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Other assets | 6 | 12 | 15 | 22 |
Vegorama Punjabi Angithi cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | 3 | 7 | 3 | 1 |
| Cash from investing | -1 | -6 | -4 | -2 |
| Cash from financing | 1 | 4 | 1 | -1 |
| Net cash flow | 3 | 5 | 0 | -2 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 13 | 6 | 7 | 7 |
| Inventory days | 2 | 1 | 1 | 3 |
| Days payable | 127 | 54 | 22 | 10 |
| Cash conversion cycle | -113 | -46 | -13 | 1 |
| Working capital days | -49 | -28 | -13 | 19 |
Vegorama Punjabi Angithi peers and competitors
Listed SME companies in the same industryBy sales, Vegorama Punjabi Angithi is number 1 of the 29 listed SME companies in leisure services.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Vegorama Punjabi Angithi | 439 | 36.4 | 141 | 12 | 11.7% | 0.15 |
| Grand Continent Hotels | 282 | 22.7 | 141 | 12.4 | 14.0% | 0.31 |
| LGT Global Hospitality | 33 | 7.1 | 137 | 4.6 | 5.4% | - |
| Complete Sports and Management India | 390 | 21.7 | 117 | 18 | 21.0% | 0.21 |
| Suba Hotels | 226 | 12.5 | 114 | 18 | 22.1% | 0.37 |
| Lloyds Luxuries | 130 | - | 60.8 | -34.4 | 1.6% | 0.00 |
| DUDIGITAL GLOBAL | 148 | 25.7 | 54.7 | 5.8 | 13.7% | 0.06 |
| UHM Vacation | 21 | 3.3 | 47.7 | 6.3 | 15.9% | 0.00 |
| Silverstorm Parks And Resorts | 287 | 15.1 | 44 | 19 | 68.0% | 0.49 |
| Naturewings Holidays | 21 | 13.9 | 30.3 | 1.6 | 5.7% | 0.00 |
| TSC India | 61 | 14.0 | 28.5 | 4.4 | 23.4% | 0.42 |
| Median of the 10 others | 139 | 14 | 57.7 | 6 | 14.9% | 0.21 |
Vegorama Punjabi Angithi shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Vegorama Punjabi Angithi shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| May 26 | Sep 26 | |
|---|---|---|
| Promoters | 69.55% | 69.55% |
| Foreign investors (FIIs) | 0.47% | - |
| Indian institutions (DIIs) | 13.76% | - |
| Number of shareholders | 705 | 395 |
Vegorama Punjabi Angithi study: the business from its own documents
Read from 4 of the company's own documentsVegorama Punjabi Angithi so far
From the company's own record
- March 2022Company formed
- 30 Sept 2026Promoters at 69.55%
- 6 Nov 2026Highest close since listing, ₹264.00
Vegorama Punjabi Angithi key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹140.9 cr
- Up 39% on FY25, after 54% growth the year before.Annual report FY26, p.47
- Profit after tax
- ₹12.0 cr
- Up 47% on FY25, helped by more kitchens and central purchasing.Annual report FY26, p.47
- Cloud kitchens
- 27
- At March 2026, up from 19 a year earlier.Annual report FY26, p.45
- Online share of revenue
- 91.7%
- FY26 revenue that came through online ordering channels.Investor presentation, July 2026, p.11
- Two largest customers
- 91.9%
- Two delivery platforms' share of revenue in the nine months to December 2025.Offer document, p.185
Show 5 more facts
- Cash from operations
- ₹1.4 cr
- FY26 inflow against ₹12.0 cr of profit, as capital advances were booked in working capital.Annual report FY26, p.51
- Advances for property and equipment
- ₹8.9 cr
- At March 2026: ₹6.2 cr given in FY26 plus ₹2.7 cr to Elan Limited outstanding since March 2025 (reported figures; our arithmetic).Annual report FY26, p.54 and p.55
- Share sale
- ₹30.7 cr
- Fresh money raised at ₹77 a share in May 2026; the promoter also sold shares worth ₹7.7 cr.Annual report FY26, p.23
- Gurugram banquet project
- ₹11.8 cr
- From the share sale, for a 16,400 sq ft banquet and fine-dine building partly on promoter land to be leased.Offer document, p.92 and p.94; Investor presentation, July 2026, p.16
- Promoter holding
- 69.55%
- After the share sale; Deepak Chadha alone holds 65.77%.Offer document, p.84
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company gives no sales or profit guidance. Its July 2026 presentation sets a target of ten new cloud kitchens in FY27 in Delhi NCR and ten more in FY28 in cities such as Chandigarh, Mohali and Jaipur, with two new kitchens proposed each quarter of FY27 and a longer-term aim of more than fifty. It expects the Gurugram banquet and fine-dine building to start early in FY2027-28; the offer document had said the second half of FY2028. The offer document plans to spend the share sale money in FY2027 and FY2028.
| What management said | When | What happened |
|---|---|---|
| Two new cloud kitchens each quarter of FY27 | Investor presentation, July 2026 | Two opened and one reopened in June 2026 |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Vegorama Punjabi Angithi earns by cooking low-cost vegetarian meals in many small rented kitchens and delivering them through food apps, which makes high returns on little capital.
Its weak spots are reliance on two delivery platforms, profit that did not turn into cash in the latest year, and dealings with the promoter family that are growing.
WatchCan it set its own prices?Not much. It competes with many other kitchens on the same apps, and the company says food price swings and platform charges squeeze its margin.
AverageHow strong is it against rivals?It has a known pure vegetarian brand and many kitchens close together in Delhi NCR, but the format is easy to copy and competition is intense.
WatchWho are its customers?Diners order through two delivery platforms, which pay the company and control the customer relationship.
AverageDoes it need a lot of money?Each kitchen is cheap, but the company has put money into capital advances, a deposit and a banquet building, and FY26 profit did not come in as cash.
StrongCan it keep finding new work?Demand comes as daily orders, many from repeat customers, and the company keeps adding kitchens and brands.
StrongDo good and bad years swing a lot?Everyday food demand is steady and revenue has risen every year, though ingredient prices move with the seasons.
Who runs Vegorama Punjabi Angithi?
Promoters, directors and officers; tap a name for the background
DCDeepak ChadhaFounder, Promoter, Chairman and Managing Director · holds 65.77%
Holds a Bachelor's degree in Commerce. Ran a sole proprietorship, Chadha Batteries and Inverters, from 2006, started the food business under Deepak Chadha HUF in 2014 and incorporated the company in 2022; the offer document cites more than 19 years of business experience. Son of Subash Chander Chadha and husband of Teenu Chadha, as the documents state. Paid ₹78 lakh in FY26 plus ₹33.1 lakh of rent for premises. Sold 9,96,800 shares in the share sale.
Offer document, p.91, p.212, p.213 and p.229; Annual report FY26, p.39 and p.59SCSubash Chander ChadhaPromoter and Executive Director · holds 3.77%
Retired in 2012 as a Joint Secretary of the University Grants Commission, where the offer document says the work covered policy and higher education expansion. Looks after quality standards. Paid ₹11.52 lakh in FY26.
Offer document, p.213; Annual report FY26, p.59TCTeenu ChadhaPromoter and Executive Director · holds 1,250 shares
On the board since 2024, with more than three years of experience in business leadership, brand development and the company's digital growth. Paid ₹45 lakh in FY26 plus ₹15.7 lakh of rent for premises. Teenu Chadha and Deepak Chadha own the Gurugram plot that the company plans to lease for ten years for its banquet project.
Offer document, p.84, p.94 and p.213; Annual report FY26, p.59VKVirender Kumar MalikChief Financial Officer
A Bachelor of Arts who began in June 1972 as a bank assistant at State Bank of India. Chief Financial Officer since 1 June 2025; paid ₹5.5 lakh in FY26.
Offer document, p.226; Annual report FY26, p.39ARAsha Rani ChadhaQuality Assurance and Strategy Head (senior management)
A Bachelor of Arts from Delhi University with more than 42 years of administrative and secretarial support work for government officials; with the company since December 2022. Mother of Deepak Chadha and wife of Subash Chander Chadha, as the annual report states.
Offer document, p.227; Annual report FY26, p.37BRBabu Ram SomaniIndependent Director
A chartered accountant who has advised manufacturing, FMCG and import and export businesses on tax, project finance and compliance. The offer document lists a cheque dishonour complaint filed by Babu Ram Somani and rent recovery petitions against Babu Ram Somani in Faridabad, where a compromise awaits recording by the court.
Offer document, p.213, p.260 and p.261VBVimal BhatnagarIndependent Director
Holds a Master of Commerce from Himachal University and a CFA from ICFAI; has taught accounts, budgeting and taxation since 1994.
Offer document, p.213Vegorama Punjabi Angithi latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹72.6 cr (+34%), net profit ₹5.7 cr (+89%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters unchanged at 69.55%.
Vegorama Punjabi Angithi announcements
5 on record, latest first; each opens the filing on the exchange
- Company UpdateRTA certificate in terms of Regulation 74(5) of SEBI (Depositories and Participants) Regulation, 2018 for the Quarter and Half year ended on September 30th , 20PDF ↗
- AGM/EGMSubmission of Scrutinizer Report for outcome of 04th Annua Genera Meeting of the CompanyPDF ↗
- AGM/EGMOutcome of the 4th Annual General Meeting of the CompanyPDF ↗
- OthersAppointment of Company Secretary and Compliance Officer of the CompanyPDF ↗
- Insider Trading / SASTThe Window for trading in the shares of the company shall remain close from October 01, 2026 till the completion of 48 hours after the declaration of the UnaudiPDF ↗
Vegorama Punjabi Angithi annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 July 2026 ↗read
Vegorama Punjabi Angithi share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Vegorama Punjabi Angithi's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 96 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,66,10,994 shares).
- !The FY26 results imply 1,30,00,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !Earnings per share changes basis between FY25 (₹818.00) and FY26 (₹9.54) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Vegorama Punjabi Angithi
What does Vegorama Punjabi Angithi do?
Vegorama Punjabi Angithi cooks pure vegetarian North Indian meals in small delivery kitchens across Delhi NCR and reaches most customers through food delivery apps; it also runs two restaurants and a catering service. Its shares trade on BSE SME.
What is the share price of Vegorama Punjabi Angithi?
₹264 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Vegorama Punjabi Angithi?
₹439 cr at the close on 6 Nov 2026, on 1,66,10,994 shares.
What is the P/E of Vegorama Punjabi Angithi?
36.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Vegorama Punjabi Angithi's revenue and profit?
Revenue ₹141 cr and profit after tax ₹12 cr in FY26.
Who are the promoters of Vegorama Punjabi Angithi?
Deepak Chadha, Subash Chander Chadha, Teenu Chadha; promoters held 69.55% at 30 Sept 2026.
What is Vegorama Punjabi Angithi's website?
www.punjabiangithi.in
More SME companies like Vegorama Punjabi Angithi
Other listed SME companies in leisure services, the closest in size first, each read from its own documents.
- Complete Sports and Management IndiaCSML · BSE SME · Leisure ServicesMarket cap ₹374 cr
- Silverstorm Parks And ResortsSSPRL · BSE SME · Leisure ServicesMarket cap ₹278 cr
- Grand Continent HotelsGCHOTELS · NSE Emerge · Leisure Services · listed 2025Market cap ₹248 cr
- Suba HotelsSUBAHOTELS · NSE Emerge · Leisure Services · listed 2025Market cap ₹210 cr
- Lloyds LuxuriesLLOYDS · NSE Emerge · Leisure Services · listed 2022Market cap ₹162 cr
- DUDIGITAL GLOBALDUGLOBAL · NSE Emerge · Leisure Services · listed 2021Market cap ₹155 cr
Built from 1 offer document, 1 result filing, 1 investor presentation, 1 annual report, 5 exchange announcements, 2 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.