Back-to-Back Upper Circuit: Shalimar Agencies Changes its Name to Spice Lounge Food Works, Losses Narrow in Q1FY26

On Thursday, Spice Lounge Food Works (formerly known as Shalimar Agencies) share price locked in the 5% upper circuit on August 28 as of 11:14 am IST. The share price has jumped from ₹4.60 per share to ₹42.14 per share, surging 816% in a year. The stock price has been hitting back-to-back upper circuit limits this week, continuously for the last 3 trading sessions. 

Earlier on August 16, Spice Lounge Food Works Limited announced significant corporate changes, including a change in its company name, an update to its official website, and the scheduling of an upcoming Board Meeting.

Shalimar Agencies Undergoes Name Change and Symbol 

In effect from August 8, 2025, the company's name officially changed from "Shalimar Agencies Limited" to "Spice Lounge Food Works Limited". 

Shalimar Agencies, founded in 1981, is involved in dealing with shares, bonds, and other securities. In addition to its trading activities, the company also offers computer and outsourcing services in the information technology sector. These services include handling data, voice, or video collection and processing, as well as operating call centres for various clients. The company has a market capitalisation of over ₹2,900 crore.

New Company Website Launched

Following the name change, the company's official website has been updated to https://www.espicelounge.com. Stakeholders are advised to visit this new website for any future updates. 

Spice Lounge Food Works Q1FY26 Financial Results

The company reported consolidated revenue from operations of ₹32.30 crore in June 2025 compared to ₹34.76 crore in March 2025, reflecting a 7.10% sequential decline. The consolidated net loss, however, narrowed to ₹1.18 crore in June 2025 from ₹3.64 crore in March 2025, indicating an improvement in profitability despite lower revenues.

Spice Lounge Food Works Share Price Hit 5% Upper Circuit

Despite the sell-off in the Indian markets on August 28, 2025, the Spice Lounge Food Works share price locked in the 5% upper circuit. 

Disclaimer: The article is for informational purposes only and not investment advice.