Spice Lounge Food Works (formerly known as Shalimar Agencies), one of the country’s fast-growing food and tech companies, has delivered handsome returns to Dalal Street investors, with its shares continuing to climb, breaking record highs, and emerging as one of the biggest wealth creators in the Indian stock market in recent times.
The stock has been hitting upper circuit limits in recent months, causing the wealth of its shareholders to rise sharply, as the company is entirely owned by retail shareholders with zero per cent promoter stake, according to the latest data available on the BSE.
Founded in 2019 in India, the company operates in India, the USA, and Canada. It holds exclusive franchise rights for global brands like Buffalo Wild Wings, Wingzone, eTouch, and TekSoft, and it owns four original brands—Blaze Kebabs, Xora, Salud, and Sunburn Union. Focused on innovation and quality, the company is rapidly expanding its global footprint, according to its website.
It also provides computer and outsourcing services in the information technology sector, including data, voice, or video collection and processing, as well as call center services.
Last week, the company informed the exchanges about its name change to Spice Lounge Food Works Limited from Shalimar Agencies, effective from today.
Spice Lounge Food Works share price history
From a trading price of ₹4.60 apiece one year ago, the stock has surged 741% to its current level of ₹38.72 apiece. Even during periods of sharp volatility in the small-cap segment, the stock did not lose momentum and continued to surge higher, resulting in a 1,043% jump over the last three years and 3,143% over the last five years, raising from ₹1.12 apiece.
The stellar rise in the stock price has also pushed the company’s market capitalization to ₹2,645 crore as of August 11. The company is expected to announce its June quarter numbers on August 14 (Thursday). It ended FY25 with a net profit of ₹6 crore on revenue of ₹105 crore.
Impact on investment
The massive rise in the share price over a short period has significantly boosted investor wealth. An investor who had put ₹1 lakh into the stock five years ago and held onto it would have seen its value grow to ₹34.57 lakh, highlighting the wealth-creating potential of the stock market when the right counters are chosen.
Meanwhile, the stock has been trading on an ex-split basis in the ratio of 1:10 since March 2025. The above calculation does not factor in the post-split benefit.
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