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Dishoom considers more restaurant openings, pays £3.7 million dividend, after profits triple in 2022

Indian restaurant chain Dishoom’s profits tripled in 2022 as its sites recovered from the pandemic, while the business said it is also looking at more restaurant openings. (Credit Helen Cathcart)
Indian restaurant chain Dishoom’s profits tripled in 2022 as its sites recovered from the pandemic, while the business said it is also looking at more restaurant openings. (Credit Helen Cathcart)

Indian restaurant chain Dishoom’s profits tripled in 2022 as its sites recovered from the pandemic, while the business said it is also looking at more restaurant openings.

In accounts filed with the Companies House, Dishoom revealed it took in £95 million worth of revenue, almost twice as much as in 2021, when restaurants were still closed because of pandemic-era measures for much of the year.

That helped it post profits of £4.7 million, up from £1.5 million last year.

Profit margins, though, were still below pre-pandemic levels, but despite the impact of inflation on the hospitality sector, the chain said it expected to see 2019-level margins this year.

The profit growth allowed the restaurant known for its long queues and items such as its black dal and bacon naan, to pay out a £3.7 million dividend to its parent company, Braunstone Limited, which also owns online gift card business Touchnote. The size of the dividend was roughly equal to Dishoom’s after-tax profits.

Founded in 2010, Dishoom operates nine locations across the UK, of which six are in London - at Covent Garden, Shoreditch, Kings Cross, Kensington High Street, Carnaby Street and most recently Canary Wharf.

In the annual report, Dishoom said it “continues to evaluate potential new locations across the UK”.

Dishoom was founded by Shamil and Kavi Thakrar as well as Amar and Adarsh Radia. The Thakrars are both related to the founders of rice giant Tilda, which was previously owned by Braunstone before being sold for £250 million in 2014.