Vriddhi Consulting

Punit Khanna

Focused on Asian Small-mid cap market space with long term investment horizon.

Primer: Shakey's Pizza (PIZZA PM) - Oct 2025

Shakey's Pizza (PIZZA PM) Q3FY25 Concall: Slight Miss, But Confident Of Growth and Guidance For FY26

Shakey's Pizza: Risk Reward in Favour of Investing

Independent Insight Provider

Equity Bottom-Up

Shakey's Pizza Asia Ventures / Equity Bottom-Up

<ul>
<li>Top line grew by 11%, but the bottom line was weak. </li>
<li>Revenue increased to PhP 16 Bn nd profit decreased to 816 Mn, core PAT down 20%.</li>
<li>The key is income before working Capital Changes, which went up by 8.6% as Depreciation increased by 30%,  interest expense increased by 18%</li>
</ul>
    <div class="content-highlight">
    <h2>Raising Money for Persons with Disabilities in Singapore</h2>
    <p><strong><em>For your kind consideration</em></strong></p>
    <p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
    <p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
    <p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-special-needs-persons-in-singapore" target="_blank" rel="noopener">please visit this URL.</a> </p>
    </div>
    


Top line grew by 11%, but the bottom line was weak. 
Revenue increased to PhP 16 Bn nd profit decreased to 816 Mn, core PAT down 20%.
The key is income before working Capital Changes, which went up by 8.6% as Depreciation increased by 30%,  interest expense increased by 18%

    
    Raising Money for Persons with Disabilities in Singapore
    For your kind consideration
    This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
    All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
    To contribute, please visit this URL. 
    
    

Shakeys Results: Disappointing 4th Quarter & FY 25 But