Speciality Restaurants Ltd

Perspective Dear Shareholders,

, • It gives me great pleasure to welcome you to the 26th Annual General Meeting of your Company.

FY 2024-25 was a year of resilience and realignment for your Company. Despite global economic uncertainties, political instability with prolonged wars raging in different fronts of the world, inflationary headwinds, global warming, unpredictable climate changes leading to food shortages and evolving consumer habits and preferences, we remained focused on maintaining the highest standards of hygiene, delivering quality i * culinary experiences, providing exceptional service, strengthening brand equity, and laying the groundwork for scalable and sustainable growth.

The year gone by presented its fair share of challenges·from fluctuating consumer sentiment and input cost pressures to heightened competition in the organized dining space. Yet, Speciality Restaurants stood strong, anchored by our iconic brands, dedicated teams and loyal patrons.

Looking Back: Key Learnings from FY 2024-25

• Holding the bottom-line with a steady topline growth - despite economic headwinds, total consolidated Revenues crossed ? 455 crore with an EBITA of ? 91.8 crore and Profit after Tax of ? 21.9 crore.

• Margin pressures were met with tight operational discipline and re-engineered menus.

• New formats- Brands like Siciliana, Bizarre Asia and Walters (Burger),

underlined the strength of our innovation pipeline.

• International performance in locations like Muscat underscored brand equity beyond borders.

• Renewed investment in guest experience, digital ordering and delivery formats kept us competitive.

These learnings are the foundation on which we now embark on a more ambitious phase.

Raising The Bar with Passion, Purpose and Precision - ^

Strategic Priorities for FY 2025-26

As we move into FY 2025-26, our vision is clearer and bolder, backed by loads of experience. The team is now geared up and in sync to raise the bar across every dimension of our business: build on our strength and mastery in fine dining, culinary innovation and giving birth to new brands, enhancement of guest experience, operational excellence and stakeholder value with a deep sense of responsibility and renewed resolve.

Now, our vision is not just to grow but to elevate. We are focused on raising the bar across all touchpoints · people, product, process and profitability.

Accelerated Yet Disciplined Expansion

Looking ahead, our primary focus is on expanding both the number of restaurants and our overall turnover with a calculated risk, while aligning with the country's growing economic landscape. Beyond the metro cities, we are increasingly exploring opportunities in Tier 2 and Tier 3 cities, where demand for quality dining experiences is on the rise. Innovation is a continuous journey for us. We draw inspiration from international cuisines and regularly bring in overseas chefs to enrich our offerings. By consistently introducing fresh concepts and unique dishes, we aim to keep our guests excited and eager to experience something new each time they visit.

We plan to open 10-12 new fine dining outlets across formats, renovate and upgrade existing ones, nurture growth of new brands, foray into a new category (QSR) and grow the Outdoor Catering business in middle and premium segments:

• Fine dining (Mainland China, Oh! Calcutta, Riyasat)

• Premium Asian (GONG)

• Semi-casual Fun dining (Asia Kitchen)

• Italian Resto-bar (Siciliana - new brand)

• Speciality Experiences (Outdoor Catering)

• Gourmet QSR (Walters Burger chain)

• Cloud kitchens in high-demand zones

• Confectionaries (Sweet Bengal & Dariole)

Focus remains on location quality, operational efficiency, and early breakeven.

Brand Experience 2.0

This year, we will continue to:

• Redesign legacy outlets with fresh interiors and immersive dining themes

• Introduce seasonal and regional chef specials across brands

• Expand in QSR category with Walters Burger to attain scalability

• Deepen customer loyalty through a new Al-powered rewards & feedback app

Digitally Driven Operations

Technology plays a pivotal role in the growth of our business, especially in todays digitally-driven world. Recognizing that our customers are tech-savvy, we've implemented e-menus and QR codes across all our outlets, making the ordering process seamless and efficient.

Sustainable & Responsible Growth

From biodegradable packaging and energy-efficient kitchens to local sourcing and zero-waste targets, sustainability is embedded into our growth model.

People & Culture

We are investing with focus in:

• Training with renewed vigour

• Developing in-house Sales and Marketing teams - fresh new recruits

• Mental wellness programs and upskilling for frontline staff

• A performance-driven, purpose-led workplace culture - young team

• Sourcing and on boarding specially-abled team members as a part of our social responsibility and enabling them to achieve great results.

Our people are our most important asset, and empowering them remains a top priority.

The Way Forward:

As we embrace FY 2025-26, our goal is to redefine what it means to dine out in India and beyond.

This will be a year of:

• Customer obsession

• Scalable innovation

• Financial discipline

• And most importantly, shared success for all stakeholders.

Closing Thoughts

To our customers, partners, team members, and shareholders · thank you for believing in our vision. We promise to continue serving excellence · on every plate, in every place, every day. To our investors, partners, employees, and patrons · thank you for your continued belief in our mission. We are not just in the restaurant business; we are in the business of creating joyful memories through food.

FY 2025-26 is our opportunity to raise the bar · and we are fully committed to make it count.