The company opened 2 new restaurants during the Dec'15 quarter and closed 1 restaurant, thus taking the total restaurant to 103 (including franchisees). The company operates in 23 cities in India, has 1 restaurant each in Bangladesh and Tanzania.

Pressure on margins continues which is surprising to the management, despite strong season.

Dec'15 quarter includes Rs 1.41 crore towards impairment costs due to closure of 2 restaurants.

Table turn around or cover turnaround was flat on YoY basis

On costs front the company was more or less same level but for product mix and raw material margins. While product mix was more or less on less value added side, raw material price benefits will start flowing only from next quarter onwards. Around 10% of overall raw materials are still imported.

Management expects downturn rentals from April'16 onwards and this should help margins to some extent.

The problem for the company is the weekdays spending. While weekends ie Friday, Saturday and Sunday accounts for around 60% of revenues, corporate spending on weekdays is just only 10% to what it should have been.

As against normal targets of around 11 restaurants every year, the company will wait and see how the year FY'17 pans and only then accordingly will decide to add further restaurants.