Devyani International Ltd.
DEVYANIConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220509 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220810 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221110 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230216 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230524 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230810 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231115 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240209 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240521 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240812 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241119 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250218 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250530 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250821 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251113 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260211 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260521 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260804 | 2026-06-30 | yes |
DEVYANI
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 137.50 |
| 52-week range | 94.59 – 177.01 |
| Return 1M | -8.27% |
| Return 3M | 21.85% |
| Return 1Y | -22.32% |
| Return 3Y | -33.81% |
| Return 5Y | 14.87% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 1,581.00 |
| Other income | 19.00 |
| Total income | 1,600.00 |
| Cost of materials consumed | 488.00 |
| Purchases of stock-in-trade | 1.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 230.00 |
| Finance costs | 70.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.61 | 0.00 |
| institutions foreign | 0.07 | 0.01 |
| institutions domestic | 0.19 | -0.00 |
| mutual funds | 0.15 | -0.00 |
| public | 0.39 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 18 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 747.00 | 791.00 | 755.00 | 847.00 | 819.00 | 843.00 | 1,047.00 | 1,222.00 | 1,222.00 | 1,294.00 | 1,213.00 | 1,357.00 | 1,377.00 | 1,441.00 | 1,437.00 | 1,581.00 |
| Other income | 5.00 | 8.00 | 11.00 | 7.00 | 7.00 | 5.00 | 15.00 | 10.00 | 5.00 | 9.00 | 13.00 | 14.00 | 5.00 | 12.00 | 14.00 | 19.00 |
| Total income | 752.00 | 799.00 | 766.00 | 853.00 | 826.00 | 848.00 | 1,062.00 | 1,232.00 | 1,227.00 | 1,303.00 | 1,226.00 | 1,370.00 | 1,382.00 | 1,453.00 | 1,451.00 | 1,600.00 |
| Cost of materials consumed | 221.00 | 240.00 | 228.00 | 245.00 | 238.00 | 246.00 | 322.00 | 376.00 | 374.00 | 404.00 | 381.00 | 431.00 | 443.00 | 447.00 | 447.00 | 488.00 |
| Purchases of stock-in-trade | 2.00 | 2.00 | 1.00 | 2.00 | 1.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 88.00 | 86.00 | 95.00 | 112.00 | 111.00 | 118.00 | 155.00 | 168.00 | 183.00 | 188.00 | 171.00 | 201.00 | 202.00 | 217.00 | 209.00 | 230.00 |
| Finance costs | 35.00 | 38.00 | 42.00 | 40.00 | 42.00 | 48.00 | 57.00 | 63.00 | 65.00 | 67.00 | 70.00 | 67.00 | 69.00 | 70.00 | 70.00 | 70.00 |
| Depreciation and amortisation | 66.00 | 71.00 | 79.00 | 80.00 | 86.00 | 93.00 | 126.00 | 132.00 | 139.00 | 147.00 | 152.00 | 150.00 | 155.00 | 167.00 | 182.00 | 180.00 |
| Other expenses | 270.00 | 288.00 | 280.00 | 315.00 | 315.00 | 331.00 | 397.00 | 461.00 | 468.00 | 488.00 | 474.00 | 518.00 | 539.00 | 544.00 | 559.00 | 607.00 |
| Total expenses | 682.00 | 725.00 | 725.00 | 793.00 | 793.00 | 838.00 | 1,057.00 | 1,201.00 | 1,231.00 | 1,295.00 | 1,248.00 | 1,367.00 | 1,408.00 | 1,446.00 | 1,469.00 | 1,577.00 |
| Profit before exceptional items and tax | 70.00 | 74.00 | 41.00 | 60.00 | 33.00 | 10.00 | 4.00 | 31.00 | -4.00 | 9.00 | -22.00 | 3.00 | -27.00 | 7.00 | -18.00 | 23.00 |
| Exceptional items | -11.00 | -9.00 | 0.00 | -47.00 | -14.00 | 0.00 | -42.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -22.00 | 0.00 | 0.00 |
| Profit before tax | 59.00 | 65.00 | 41.00 | 13.00 | 19.00 | 10.00 | -38.00 | 31.00 | -4.00 | 9.00 | -22.00 | 3.00 | -27.00 | -15.00 | -18.00 | 23.00 |
| Current tax | 8.00 | 8.00 | -0.00 | 18.00 | -1.00 | 6.00 | 9.00 | 14.00 | 5.00 | 1.00 | 3.00 | 8.00 | 2.00 | -1.00 | 0.00 | 9.00 |
| Deferred tax | -6.00 | -14.00 | -18.00 | -4.00 | -16.00 | -2.00 | 2.00 | -5.00 | -4.00 | 15.00 | -8.00 | -7.00 | -7.00 | -4.00 | -5.00 | -3.00 |
| Tax expense | 2.00 | -6.00 | -19.00 | 15.00 | -17.00 | 5.00 | 11.00 | 8.00 | 1.00 | 16.00 | -6.00 | 1.00 | -5.00 | -5.00 | -5.00 | 6.00 |
| Profit for the period | 57.00 | 71.00 | 60.00 | -2.00 | 36.00 | 5.00 | -49.00 | 22.00 | -5.00 | -8.00 | -17.00 | 2.00 | -24.00 | -11.00 | -10.00 | 17.00 |
| Profit attributable to owners | 59.00 | 72.00 | 61.00 | 12.00 | 33.00 | 10.00 | -7.00 | 30.00 | 0.00 | -0.00 | -15.00 | 4.00 | -22.00 | -10.00 | -10.00 | 15.00 |
| Profit attributable to non-controlling interests | -2.00 | -1.00 | -1.00 | -13.00 | 2.00 | -5.00 | -41.00 | -8.00 | -5.00 | -7.00 | -2.00 | -1.00 | -2.00 | -1.00 | 0.00 | 2.00 |
| Other comprehensive income | 5.00 | 6.00 | 0.00 | 27.00 | -10.00 | 9.00 | 15.00 | 7.00 | 91.00 | -30.00 | 1.00 | 30.00 | 31.00 | 25.00 | -5.00 | -3.00 |
| Total comprehensive income | 62.00 | 77.00 | 60.00 | 25.00 | 26.00 | 14.00 | -34.00 | 29.00 | 86.00 | -38.00 | -16.00 | 32.00 | 7.00 | 14.00 | -15.00 | 14.00 |
| Earnings per share, basic | 0.49 | 0.59 | 0.50 | 0.10 | 0.28 | 0.08 | -0.06 | 0.25 | 0.00 | 0.00 | 0.12 | 0.03 | -0.18 | -0.08 | -0.08 | 0.12 |
| Earnings per share, diluted | 0.49 | 0.59 | 0.50 | 0.10 | 0.28 | 0.08 | -0.06 | 0.25 | 0.00 | 0.00 | 0.12 | 0.03 | -0.18 | -0.08 | -0.08 | 0.12 |
Annual results, as filed
| Line | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Revenue from operations | 2,084.00 | 2,998.00 | 3,556.00 | 4,951.00 | 5,611.00 |
| Other income | 16.00 | 33.00 | 33.00 | 37.00 | 45.00 |
| Total income | 2,100.00 | 3,030.00 | 3,589.00 | 4,988.00 | 5,657.00 |
| Cost of materials consumed | 589.00 | 891.00 | 1,051.00 | 1,535.00 | 1,767.00 |
| Purchases of stock-in-trade | 11.00 | 8.00 | 6.00 | 4.00 | 4.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 248.00 | 345.00 | 495.00 | 710.00 | 830.00 |
| Finance costs | 127.00 | 147.00 | 187.00 | 265.00 | 276.00 |
| Depreciation and amortisation | 221.00 | 278.00 | 385.00 | 570.00 | 654.00 |
| Other expenses | 763.00 | 1,099.00 | 1,358.00 | 1,891.00 | 2,160.00 |
| Total expenses | 1,960.00 | 2,768.00 | 3,482.00 | 4,975.00 | 5,691.00 |
| Profit before exceptional items and tax | 140.00 | 262.00 | 107.00 | 13.00 | -35.00 |
| Exceptional items | -17.00 | -20.00 | -104.00 | 0.00 | -22.00 |
| Profit before tax | 123.00 | 242.00 | 4.00 | 13.00 | -56.00 |
| Current tax | 7.00 | 27.00 | 33.00 | 23.00 | 9.00 |
| Deferred tax | -39.00 | -48.00 | -19.00 | -3.00 | -23.00 |
| Tax expense | -32.00 | -21.00 | 13.00 | 20.00 | -14.00 |
| Profit for the period | 155.00 | 263.00 | -10.00 | -7.00 | -43.00 |
| Profit attributable to owners | 156.00 | 265.00 | 47.00 | 9.00 | -39.00 |
| Profit attributable to non-controlling interests | -1.00 | -2.00 | -57.00 | -16.00 | -4.00 |
| Other comprehensive income | 14.00 | 7.00 | 41.00 | 69.00 | 81.00 |
| Total comprehensive income | 169.00 | 270.00 | 31.00 | 62.00 | 38.00 |
| Earnings per share, basic | 1.32 | 2.20 | 0.39 | 0.08 | -0.31 |
| Earnings per share, diluted | 1.32 | 2.19 | 0.39 | 0.08 | -0.31 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 2,603.00 | 2,989.00 | 3,130.00 | 4,932.00 | 5,332.00 | 5,339.00 | 6,207.00 | 6,750.00 |
| Non-current assets | 2,260.00 | 2,679.00 | 2,840.00 | 4,446.00 | 4,796.00 | 4,865.00 | 5,691.00 | 5,898.00 |
| Current assets | 343.00 | 310.00 | 290.00 | 486.00 | 536.00 | 474.00 | 507.00 | 852.00 |
| Property, plant and equipment | 777.00 | 947.00 | 1,029.00 | 1,500.00 | 1,615.00 | 1,633.00 | 1,671.00 | 1,758.00 |
| Capital work-in-progress | 10.00 | 15.00 | 16.00 | 11.00 | 10.00 | 3.00 | 9.00 | 8.00 |
| Goodwill | 64.00 | 64.00 | 50.00 | 429.00 | 470.00 | 458.00 | 677.00 | 683.00 |
| Other intangible assets | 1,177.00 | 1,380.00 | 1,461.00 | 2,261.00 | 2,447.00 | 2,505.00 | 1,152.00 | 1,196.00 |
| Inventories | 120.00 | 129.00 | 108.00 | 131.00 | 151.00 | 148.00 | 169.00 | 165.00 |
| Trade receivables | 26.00 | 29.00 | 38.00 | 53.00 | 54.00 | 41.00 | 54.00 | 64.00 |
| Cash and cash equivalents | 30.00 | 63.00 | 30.00 | 168.00 | 189.00 | 181.00 | 151.00 | 491.00 |
| Total equity and liabilities | 2,603.00 | 2,989.00 | 3,130.00 | 4,932.00 | 5,332.00 | 5,339.00 | 6,207.00 | 6,750.00 |
| Equity | 817.00 | 964.00 | 1,023.00 | 1,349.00 | 1,455.00 | 1,402.00 | 1,958.00 | 1,885.00 |
| Equity share capital | 120.00 | 120.00 | 121.00 | 121.00 | 121.00 | 121.00 | 123.00 | 123.00 |
| Other equity | 704.00 | 850.00 | 915.00 | 935.00 | 1,045.00 | 974.00 | 1,430.00 | 1,419.00 |
| Total liabilities | 1,786.00 | 2,024.00 | 2,107.00 | 3,584.00 | 3,877.00 | 3,936.00 | 4,248.00 | 4,865.00 |
| Non-current liabilities | 1,253.00 | 1,489.00 | 1,519.00 | 2,673.00 | 2,784.00 | 2,823.00 | 2,983.00 | 3,193.00 |
| Current liabilities | 533.00 | 535.00 | 588.00 | 911.00 | 1,093.00 | 1,113.00 | 1,265.00 | 1,671.00 |
| Borrowings, non-current | 50.00 | 77.00 | 0.00 | 726.00 | 717.00 | 670.00 | 660.00 | 786.00 |
| Borrowings, current | 87.00 | 1.00 | 80.00 | 185.00 | 233.00 | 262.00 | 306.00 | 575.00 |
| Trade payables | 235.00 | 242.00 | 254.00 | 376.00 | 461.00 | 441.00 | 530.00 | 615.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 280.00 | 637.00 | 276.00 | 592.00 | 473.00 | 900.00 | 401.00 | 919.00 |
| Net cash from investing activities | -202.00 | -350.00 | -188.00 | -1,551.00 | -259.00 | -462.00 | -222.00 | -440.00 |
| Net cash from financing activities | -105.00 | -283.00 | -121.00 | 1,063.00 | -213.00 | -425.00 | -225.00 | -190.00 |
| Purchase of property, plant and equipment | 216.00 | 437.00 | 194.00 | 478.00 | 244.00 | 491.00 | 182.00 | 459.00 |
| Net increase in cash | -28.00 | 5.00 | -33.00 | 105.00 | 21.00 | 14.00 | -37.00 | 310.00 |
| con:CFO.BEFORE_TAX | 307.00 | 685.00 | 292.00 | 619.00 | 469.00 | 898.00 | 407.00 | 931.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 27.00 | 48.00 | 16.00 | 27.00 | -5.00 | -2.00 | 6.00 | 12.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 4.00 | 13.00 | 5.00 | 17.00 | 2.00 | 9.00 | 5.00 | 18.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 1,091.00 | 0.00 | 0.00 | 37.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 62.79 | 62.76 | 62.74 | 62.74 | 62.74 | 62.73 | 62.72 | 62.72 | 62.72 | 62.62 | 0.61 | 0.61 | 0.61 | 0.61 |
| Domestic institutions | 9.67 | 8.77 | 8.30 | 8.53 | 12.19 | 14.19 | 15.38 | 15.46 | 16.87 | 18.08 | 0.20 | 0.19 | 0.19 | 0.19 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 14.36 | 0.16 | 0.16 | 0.15 | 0.15 |
| Insurance companies | 2.89 | 2.23 | 2.22 | 2.27 | 2.15 | 2.36 | 2.68 | 3.08 | 3.51 | 3.63 | 0.03 | 0.03 | 0.03 | 0.03 |
| Foreign institutions | 9.77 | 12.05 | 13.34 | 12.47 | 12.44 | 11.69 | 11.17 | 11.17 | 10.46 | 9.42 | 0.07 | 0.06 | 0.06 | 0.07 |
| Public | 37.21 | 37.24 | 37.26 | 37.26 | 37.26 | 37.27 | 37.28 | 37.28 | 37.28 | 37.38 | 0.39 | 0.39 | 0.39 | 0.39 |
| Non-institutional | 17.78 | 16.42 | 15.62 | 16.26 | 12.63 | 11.40 | 10.73 | 10.64 | 9.95 | 9.88 | 0.12 | 0.13 | 0.13 | 0.13 |
| Shares outstanding | 1204961378 | 1205448878 | 1205858878 | 1205858878 | 1205858878 | 1206096378 | 1206266378 | 1206266378 | 1206266378 | 1208218878 | 1231937291 | 1232872291 | 1232939791 | 1232939791 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Restaurant Development Co., Ltd. | Stepdown Subsidiary | Any other transaction, Interest received, Loan | 272,420,000.00 | 4 |
| Andew James Norton | Director and Chief Executive Offic | Remuneration | 45,340,000.00 | 2 |
| Varun Beverages Limited | Promoter Group | Any other transaction, Purchase of goods or services | 33,310,000.00 | 3 |
| Devyani Food Industries Limited | Fellow Subsidiary | Purchase of goods or services, Sale of goods or serv | 32,030,000.00 | 2 |
| Champa Devi Jaipuria Charitable Trust | Significant influence of related p | Sale of goods or services | 26,830,000.00 | 1 |
| Virag Joshi | Whole Time Director & Chief Ex | Remuneration | 24,120,000.00 | 1 |
| Manish Dawar | Whole Time Director & Chief Fi | Any other transaction, Remuneration | 23,680,000.00 | 3 |
| DIL Employee Gratuity Trust | Post Employment benefit Trust | Any other transaction | 17,500,000.00 | 1 |
| Global Health Limited | Entity in which directors are inte | Any other transaction, Sale of goods or services | 16,770,000.00 | 2 |
| Devyani International (Nepal) Private Limited | Wholly Owned Subsidiary | Any other transaction, Dividend received, Sale of fi | 12,500,000.00 | 4 |
| White Snow Compaany Limted | Subsidiary | Interest received, Loan | 9,720,000.00 | 2 |
| Yellow Palm Company Limited | Subsidiary | Interest received, Loan | 9,650,000.00 | 2 |
| Varun Beverage Nepal Private Limited | Significant influence of related p | Purchase of goods or services | 6,270,000.00 | 1 |
| Pawan Chhatwal | Chief Financial Officer | Remuneration | 4,850,000.00 | 2 |
| Satender Singh Saini | Director | Remuneration | 4,750,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-04 | Q1FY27 | Read the call | |
| 2026-05-21 | Q4FY26 | Read the call | |
| 2026-02-11 | Q3FY26 | Read the call | |
| 2025-11-13 | Q2FY26 | Read the call | |
| 2025-08-21 | Q1FY26 | Read the call | |
| 2025-05-30 | Q4FY25 | Read the call | |
| 2025-02-18 | Q3FY25 | Read the call | |
| 2024-11-19 | Q2FY25 | Read the call | |
| 2024-08-12 | Q1FY25 | Read the call | |
| 2024-05-21 | Q4FY24 | Read the call | |
| 2024-02-09 | Q3FY24 | Read the call | |
| 2023-11-15 | Q2FY24 | Read the call | |
| 2023-08-10 | Q1FY24 | Read the call | |
| 2023-05-24 | Q4FY23 | Read the call | |
| 2023-02-16 | Q3FY23 | Read the call | |
| 2022-11-10 | Q2FY23 | Read the call | |
| 2022-08-10 | Q1FY23 | Read the call | |
| 2022-05-09 | Q4FY22 | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | So, Maruth, we don't have a lot of imports except for, we only get a little bit impacted by, key equipments on the capex side. | — | What is the total CapEx that we should be taking for FY23, overall including international, all the domestic formats, etc? | They sustain the CAPEX momentum that they have. | — | So therefore, it will not be a huge capex. | So, would you be tinkering with the store size or making any changes to the capex per store? |
| Capital allocation | What will be the medium thought process in terms of growth and profitability, anything that you can talk about now that the acquisition is done? | — | — | — | We really activated the brand post-IPO since there were some concerns with respect to our agreement post Coke acquisition of Costa, and since then we’… | We remain bullish on the QSR space in medium to long term and that's the reason we continue to kind of invest in our brands, in the new strategic tie-… | For our Thailand business, the team that existed prior to our acquisition has continued and there has been no change in the team, and they are doing a… | And the other one is from maybe our own delivery capabilities as well as from a customer acquisition perspective. |
| Costs | — | But otherwise, on the raw material side, packing material side, our import structure is very small. | What I am trying to figure out is whatever cost-saving initiatives you have done till now, that is already there in your margins for this quarter. | — | One final question Manish was that on the chicken side you mentioned there are some benefits which will play out given you are sitting on some invento… | And at the same time the cost saving opportunities which are there are clubbed in. | — | So, one is, whatever raw materials and packing materials that we buy, at the same time, how we handle the promotions and discounting structure and the… |
| Debt and cash | So, are formats like Pizza Hut, Costa Coffee sort of generating enough free cash flow to sort of support this expansion that we are planning to? | — | — | Lastly, on cash flows, as I could understand looking at the statement, free cash flow is near breakeven. | Now my understanding is and correct me if I’m wrong, you would need approximately flat ADS so that you don’t bear the negative impacts of operating de… | — | — | — |
| Demand | I know this number could be dynamic depending on the demand situation but at this point how are you thinking about FY25 store openings? | I just wanted to understand is this because of any region split or are you seeing any material difference in demand trend between different tiers of c… | We need to make sure that the innovation pipeline is stronger. | Is there any impact on demand, because of price increase, or any down trading or any such behavior that you have seen? | So, if I look at it on a 15-month basis, the total price increase is close to about 13% to 14% and I understand there is a mix effect, etc., it ’does … | I wanted to pick your brain on how are you seeing demand scenario evolving now for both the brands in India or rather all the three brands in India an… | — | Having said that, I know that you have seen negative numbers in Q4, which is primarily because we are resetting our strategy from a BD perspective in … |
| Guidance | But just to give you a broad guidance in terms of what is the normalized number as far as the G&A is concerned, you can take roughly at about 5% on th… | So, if you can highlight your guidance on the expansion in both of these formats going ahead. | Do you think that even in a weak environment, similar EBITDA margin or absolute EBITDA adjusted for seasonality, you should be comfortable maintaining… | So we've talked about in the past that we will look at about 200 to 250 stores for the next few years and we continue to stay with the same guidance. | So, therefore, we ’’do not comment on a quarter-on-quarter basis, but otherwise we are not changing any of the guidance. | — | We expect improvement in both ADS and SSSG. | And if so, is there any change in the guidance for the store expansion? |
| Margin | So, what is the thought process on the margin bit? | And sir, my last question is with regards to the margin performance, as the margin recovery is a tad better in the KFC business. | So how do we see your improved gross margin profile whether we have invested back some of the savings at the gross level to revive this SSSG or the Ja… | So, the new employees that will get added because of the store openings, it is part of the overall brand contribution line and not at the EBITDA line. | Gross margin movement was primarily led by the cost of chicken and then there were some benefits from oil and all. | What was the revenue contribution and EBITDA contribution of KFC Thailand in quarter 4? | So, how should we think of the margin in the next two years given that the recovery has been gradual versus what your expectation was? | Just wanted to understand the gross margin expansion on KFC, it is a pretty big number. |
| People | — | — | — | — | — | And if there was any slippage in execution associated with this attrition that you can share. | — | — |
| Pricing | — | Manish, last quarter we talked about experimenting with some marketing and pricing promotions in select markets, right? | We will have the technology piece kind of coming in our hands, which will give us the leverage in terms of pricing, how to structure the pricing, in t… | Second question is, you've taken about 12% price increase in KFC in the last six months. | Is this entirely led by lower chicken price or there has been product price hikes as well? | Be it the quality, pricing, overall look and feel of the store. | And an allied question is, are you planning to take some price increase to beat this inflation? | And therefore, that meant that you have to kind of reimagine the business from the point of view of what is your pricing in the two channels, what is … |
| Revenue growth | And therefore, we are confident that Pizza Hut top line and the ADS numbers will come back once the overall macro sentiment improves and we will start… | My second question is on the transaction growth of KFC. | — | And going forward, we will be more or less in line with how the top line is behaving and performing. | — | So, don't you think it would be sort of prudent to give back value to the consumers in terms of lower pricing or higher promotions, probably bring dow… | It just gives a feeling that, are you a bit concerned about KFC or a deceleration in the growth of that business, which is why you are actually going … | And the other piece was this whole impending merger with Sapphire Foods, because if you put the two companies together, we are going to be almost a US… |