Barbeque-Nation Expands with New Subsidiary in Sri Lanka

On August 21, 2024, Barbeque-Nation Hospitality Limited announced the incorporation of a new subsidiary, Barbeque Nation Lanka (Pvt) Ltd, based in Colombo, Sri Lanka.

This new company is a wholly-owned subsidiary of Barbeque Nation MENA Holding Limited, which is itself a wholly-owned subsidiary of Barbeque-Nation Hospitality Limited, situated in Dubai, United Arab Emirates. As a result, Barbeque Nation Lanka (Pvt) Ltd became a step-down subsidiary of Barbeque-Nation Hospitality Limited.

Barbeque Nation Lanka (Pvt) Ltd, also known as Barbeque – Lanka, has a share capital of LKR 1,00,000 (Sri Lankan Rupees One Lakh), divided into 1,000 shares with a nominal value of LKR 100 each. This step is part of Barbeque Nation MENA Holding Limited’s strategy to explore and capitalise on business opportunities in Sri Lanka. The new subsidiary will operate within the food services and restaurant industry, aligning with the core business of its parent company.

Barbeque Nation MENA Holding Limited has fully subscribed to the 1,000 shares of Barbeque – Lanka, investing a total of LKR 1,00,000 in the subsidiary. This move signifies the company’s commitment to expanding its presence in the South Asian market and exploring new growth avenues in Sri Lanka. The establishment of Barbeque Nation Lanka (Pvt) Ltd is expected to enhance the company’s footprint and operational capabilities in the region, further solidifying its position in the global food services industry.

About Barbeque-Nation Hospitality Limited 

Barbeque Nation is one of the leading casual dining chains in India. Barbeque Nation Hospitality Limited (BNHL) pioneered “over-the-table barbeque” live grills embedded in dining tables.

In Q1 FY 2025, the company revenue from operations was ₹3,057 million, down by 5.6%, compared to ₹3,239 million in the same period in FY 2024.

On August 22, 2024, the share price of Barbeque-Nation Hospitality Ltd opened at ₹666.00, touching the day’s high at ₹672.30, as of 9:15 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.