Grill Splendour Services Ltd. (GSSL), a prominent gourmet Bakery and Patisserie chain operating across Mumbai, showcases a mixed financial performance. Despite a profit surge in FY23, subsequent TTM figures for FY24 reveal a decline, with profits dropping from Rs. 1.99 Cr. to Rs. 0.93 Cr. Revenue also witnessed a downturn from Rs. 15.29 cr. to Rs. 13.26 cr. on a TTM basis. Of concern is the fivefold increase in borrowings, signaling potential financial strain.
Operational efficiency is evident through 17 retail stores and a centralized production facility, yet reliance on the franchisee model, particularly in a single state (Maharashtra), poses concentration risks. However, the company's focus on expanding its brand portfolio to boost revenue aligns with industry growth prospects, driven by increasing urbanization and lifestyle enhancements.
The IPO's pricing raises eyebrows, with potentially inflated earnings possibly aiming for aggressive valuations. The bonus allotment in May 2023 adds complexity to the valuation assessment. While the IPO is deemed slightly pricey, investors may adopt a cautious stance, awaiting post-listing developments to gauge the company's true potential and market reception.
The GST registration process at FinanceSaathi is quick, transparent, and end-to-end online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation & Eligibility Check – Our experts assess your business and required documents. | 1 Day |
| 2 | Document Collection & Preparation – You share scanned copies; we prepare the application. | 1–2 Days |
| 3 | Online Application Submission – Filing GST REG-01 on GST portal. | 1 Day |
| 4 | ARN Generation & Verification – Acknowledgment number generated and verified. | 1 Day |
| 5 | GST Officer Review – Department may seek clarification if required. | 2–3 Days |
| 6 | GSTIN Allotment & Certificate Issued – Once approved, you receive your GST registration certificate via email. | 3–5 Days Total |
Estimated Total Duration: 3–5 Working Days
The GST registration process at FinanceSaathi is quick, transparent, and end-to-end online:
| Step | Process | Timeline |
|---|---|---|
| 1 | Consultation & Eligibility Check – Our experts assess your business and required documents. | 1 Day |
| 2 | Document Collection & Preparation – You share scanned copies; we prepare the application. | 1–2 Days |
| 3 | Online Application Submission – Filing GST REG-01 on GST portal. | 1 Day |
| 4 | ARN Generation & Verification – Acknowledgment number generated and verified. | 1 Day |
| 5 | GST Officer Review – Department may seek clarification if required. | 2–3 Days |
| 6 | GSTIN Allotment & Certificate Issued – Once approved, you receive your GST registration certificate via email. | 3–5 Days Total |
Estimated Total Duration: 3–5 Working Days
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