We are expecting positive results in the quarters to come, said Rajesh Kumar Mohta, Executive Director-Finance and CFO, Speciality Restaurants.

The input tax credit withdrawal impacted the business in Q4 of FY18, he said.

" We have taken the shareholders’ approval in March to utilize the balance portion of the money which is Rs 23 crore odd remaining from IPO proceed to utilize for renovation of opening of new restaurants," said Mohta.

Talking about business, he said, “Mainland China continues to be our flagship restaurant. We have added two more restaurants in the name of Gong and POH (Progressive Oriental House) which contributes 50% of the revenue.”

We are slightly conservative and cautious in opening new restaurants but if we see any profitable location, we would definitely open new restaurants, he added.