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Cheelizza Pizza India Unlisted Shares
DRHP Status : Not Filed
29
Fundamentals About Cheelizza Pizza India
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Key Financials of Cheelizza Pizza India
| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 320 | 1336 | 1813 | 1935 |
| Cost of Material Consumed | 136 | 561 | 739 | 729 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Gross Margins | 57.5 | 58.01 | 59.24 | 62.33 |
| Employee Benefit Expenses | 52 | 291 | 447 | 446 |
| Other Expenses | 141 | 687 | 1068 | 1073 |
| EBITDA | -9 | -203 | -441 | -313 |
| OPM | -2.81 | -15.19 | -24.32 | -16.18 |
| Other Income | 4 | 42 | 11.6 | 9 |
| Finance Cost | 5 | 42.6 | 87 | 105 |
| D&A | 19 | 86 | 164 | 136 |
| EBIT | -28 | -289 | -605 | -449 |
| EBIT Margins | -8.75 | -21.63 | -33.37 | -23.2 |
| PBT | -30.4 | -289 | -681.6 | -545 |
| PBT Margins | -9.5 | -21.63 | -37.6 | -28.17 |
| Tax | -9.7 | -80 | -172.5 | -152 |
| PAT | -20.7 | -209 | -509.1 | -393 |
| NPM | -6.47 | -15.64 | -28.08 | -20.31 |
| EPS | -207 | -1607.69 | -3886.26 | -278.72 |
Financial Ratio |
2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | -2.81 | -15.19 | -24.32 | -16.18 |
| Net Profit Margin | -6.47 | -15.64 | -28.08 | -20.31 |
| Earning Per Share (Diluted) | -207 | -1607.69 | -3886.26 | -278.72 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 176 | 516 | 593 | 388 |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Trade Receivables | 15 | 24 | 39 | 41 |
| Inventory | 36 | 48 | 46.5 | 30 |
| Other Assets | 68 | 278 | 547.5 | 577 |
| Total Assets | 295 | 866 | 1226 | 1036 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 1 | 1.3 | 1.31 | 1.41 |
| FV | 10 | 10 | 10 | 1 |
| Reserves | -20.69 | 338.6 | -170 | -53 |
| Borrowings | 106 | 382 | 727 | 651 |
| Trade Payables | 78 | 80 | 55.6 | 128 |
| Other Liabilities | 130.69 | 64.1 | 612.09 | 308.59 |
| Total Liabilities | 295 | 866 | 1226 | 1036 |
About Company
Cheelizza Pizza India (founded 2009, incorporated 2021) is a rapidly growing, Mumbai-based 100% vegetarian quick-service restaurant (QSR) chain aiming to be India's preferred vegetarian pizza brand. Founded by Animesh and Aatish Lodha, it operates over 25+ stores, serving 60,000+ pizzas monthly with a focus on affordable, high-quality, and pure-veg options.
The following table shows a 10-point analysis of Cheelizza Pizza India Ltd. We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | FY25 Revenue ₹19.35 cr Monthly orders 65,000+ |
A vegetarian pizza QSR brand focused on dine-in and delivery channels, operating multiple outlets across Western India with a growing digital and aggregator presence. |
| Industry & Market Position | Founded 2013 Pure vegetarian pizza brand |
Positioned as a vegetarian pizza chain targeting India’s large vegetarian consumer base with dine-in, delivery, and takeaway formats. |
| Revenue Growth Trend | FY23 ₹13.36 cr → FY25 ₹19.35 cr | Revenue has grown steadily over recent years, reflecting rising order volumes and expansion of outlets across key cities. |
| Profitability & Margins | Store-level EBITDA ~17% | Store-level unit economics remain positive, though overall profitability may remain under pressure due to investments in expansion and brand growth. |
| Cash Flow Quality | Monthly revenue run-rate ₹2–2.4 cr | Increasing order volumes and improving operational efficiencies support stable operating cash flows at the store level. |
| Balance Sheet Strength | Paid-up capital ₹10.8 cr | Early-stage company with moderate capital base; additional funding rounds and rights issues used to support store expansion. |
| Valuation Comfort | Valuation based on private market deals | Unlisted share price influenced by revenue growth, store expansion plans and investor demand in the private market. |
| Management & Governance | Founder-led company | Management focuses on brand development, operational efficiency and scaling the store network across India. |
| Growth Triggers & Catalysts | Target 100+ stores in coming years | Expansion of company-owned outlets, supply chain improvements and brand-building initiatives could support long-term growth. |
| Liquidity & Exit Visibility | Shares traded in private market | Currently an unlisted company; liquidity depends on private market transactions and potential future capital market plans. |
Company Overview
(i) Cheelizza Pizza India Limited is a Mumbai-based quick service restaurant (QSR) brand focused on serving 100% vegetarian pizzas and related fast-food products.
(ii) The company was founded in 2013 by Animesh Lodha with the vision of building a pure vegetarian food brand targeting India’s large vegetarian population.
(iii) Cheelizza operates a network of outlets across cities such as Mumbai, Navi Mumbai, Pune, Thane, Rajkot, and Vadodara, serving customers through dine-in, takeaway, and delivery channels.
(iv) The company processes over 65,000 orders per month, supported by strong online delivery channels and a growing repeat customer base.
(v) Cheelizza has expanded steadily and currently operates multiple outlets along with a central kitchen and supply chain model designed to support operational efficiency.
(vi) The company has also raised ₹4.11 crore in seed funding from investors to support expansion and brand development initiatives.
Challenges in Cheelizza Pizza’s Business
- Early-stage scale of operations: Compared to large QSR companies, Cheelizza operates a relatively small number of outlets and is still in the expansion phase.
- High expansion costs: Opening new outlets and strengthening the supply chain requires significant capital investment.
- Profitability pressure during expansion: Rapid store expansion and marketing investments can impact overall profitability in the near term.
Financial Review of Unlisted Shares
Here are some highlights of Cheelizza Pizza India Ltd. financial performance over the years.
FY23 Performance
- Revenue stood at ₹13.36 crore.
- The company continued expanding its store network across Western India.
- Monthly order volumes increased steadily as delivery channels grew.
- Customer repeat rate remained strong, supporting stable demand.
FY24 Performance
- Revenue from operations increased to ₹18.12 crore.
- Gross margin improved to 65%+.
- Store-level EBITDA reached 17%, reflecting better unit economics.
- Loss widened to ₹5.09 crore due to expansion and operational investments.
FY25 Performance
- Revenue increased further to about ₹19.35 crore.
- Monthly order volume exceeded 65,000 orders.
- Monthly revenue run rate crossed ₹2.4 crore.
- Expansion strategy focused on opening new outlets across key cities.
Quick Summary
Cheelizza Pizza India Ltd. is an emerging vegetarian pizza QSR brand focused on delivering high-quality vegetarian fast-food options through dine-in and delivery channels.
The company has demonstrated consistent revenue growth and increasing customer adoption as it expands its store network across Western India.
From an investor’s perspective, Cheelizza Pizza India unlisted shares provide exposure to a growing food service brand, although investors should consider the risks associated with early-stage expansion and limited liquidity in the unlisted market.
Promoters of Cheelizza Pizza India Ltd.
The following are the active promoters of the company:
| Name | Designation | LinkedIn Profile |
|---|---|---|
| Animesh Lodha | Founder & Director | View Profile |
| Cheelizza Pizza India Ltd. Promoter Group | Promoter | - |
Click Here to visit the official website of Cheelizza Pizza India Ltd.
Shareholding Pattern of Cheelizza Pizza India
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Frequently Asked Questions
Cheelizza Pizza India unlisted shares are equity shares of Cheelizza Pizza India Ltd., a private company that is not listed on NSE or BSE.
Yes. Investors can buy Cheelizza Pizza India unlisted shares on UnlistedKraft by completing KYC and placing an order through the platform.
Cheelizza Pizza India unlisted shares belong to a growing food service brand, but like all unlisted investments they involve liquidity and market risks.
Prices of Cheelizza Pizza India unlisted shares depend on private market transactions, company performance, and investor demand.
Yes, an active demat account is required to hold and receive Cheelizza Pizza India unlisted shares.
There is no mandatory lock-in period unless the company decides to list on a stock exchange.
Yes. Investors can sell Cheelizza Pizza India unlisted shares through UnlistedKraft’s resale network depending on buyer availability.
If Cheelizza Pizza India lists in the future, pre-IPO investors may be subject to a six-month lock-in period as per SEBI guidelines.
If Cheelizza Pizza India unlisted shares are held for more than two years, gains are taxed at 20% with indexation. Otherwise, gains are taxed according to the investor’s income tax slab.
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