United Foodbrands May 2026 Corporate Presentation

Business Overview & Strategy

United Foodbrands Limited positions itself as "Building India's leading dining platform" - a scaled, multi-brand dining platform with proven unit economics, a captive customer base, and significant expansion headroom.

Key Business Highlights:

India's largest casual dining company (#1 in CDR format) with 262 restaurants across India, Middle East & Southeast Asia
90% of dine-in volumes come through own channels (app/call centre/walk-in)
H2 FY26 revenue run rate of ₹14,740 million at a 4-year CAGR of 11.7%
Three growth engines: Barbeque Nation (+15.6% in H2 YoY), International (+37.1% in H2 YoY), Premium CDR (+21.3% in H2 YoY)
Plan to reach 400-425 outlets by FY30
Complete ownership of all brands enables full control over strategy, innovation, guest experience, and expansion

Business Segments:

The company operates three distinct business segments: domestic dominance (Barbeque Nation), international expansion, and aspirational tiering (premium CDR).

Brand Portfolio:

3 delivery brands
3 CDR (casual dining restaurant) brands
Presence in 9 countries and 92 cities
Dine-in/Delivery mix: 84%/16%

Detailed Brand Information

Unit Economics

Unit economics are based on H2 FY26 matured portfolio performance:

Barbeque Nation India:

Revenue/Restaurant: ₹60 million
Pre IND-AS Restaurant Operating margin: 14.4%
Avg per store Capex: ₹25 million
Store level ROCE: 23.8%
Store Payback Period: 3.5-4.0 years

Barbeque Nation International:

Revenue/Restaurant: ₹133 million
Pre IND-AS Restaurant Operating margin: 26.3%
Avg per store Capex: ₹65 million
Store level ROCE: 40.5%
Store Payback Period: 2.5-3.0 years

Premium CDR:

Revenue/Restaurant: ₹70 million
Pre IND-AS Restaurant Operating margin: 20.2%
Avg per store Capex: ₹30 million
Store level ROCE: 35.5%
Store Payback Period: 2.5-3.0 years

Technology & Digital Engagement

Strong digital engagement with ~1.2 million monthly active users across owned platforms (Y-o-Y growth of 51.2%)
Captive channels drive 90% of dine-in transactions
Cumulative app downloads shown (amount in ₹ million, specific figure not quantifiable from data)
Dine-in transactions through own digital channels shown (percentage, specific figure not quantifiable from data)

Market Opportunity

The company identifies a large market opportunity:

330 million total households in India
36% urbanization rate
120 million urban households
45-50 million Aspirational Middle-Class (AMC) households
₹60,000 eating-out spend per household per year
₹3.0 lakh crore total AMC eating-out market

Structural growth drivers include urbanization, income growth, nuclear families, experience shift, and celebration culture.

Financial Performance

H2 FY26 Performance:

Revenue from Operations: ₹7,370 million (vs. ₹6,217 million in H2 FY25, +18.5% YoY)
Cost of Food and Beverages Consumed: ₹2,510 million (vs. ₹1,967 million, +27.6% YoY)
Employee Related Expenses: ₹1,739 million (vs. ₹1,475 million, +17.9% YoY)
Occupancy and Other Expenses: ₹2,028 million (vs. ₹1,627 million, +24.6% YoY)
Operating EBITDA: ₹1,093 million (vs. ₹1,148 million, -4.8% YoY)
Operating EBITDA %: 14.8% (vs. 18.5%)
Finance Cost: ₹453 million (vs. ₹404 million, +12.1% YoY)
Depreciation and Amortization: ₹968 million (vs. ₹951 million, +1.8% YoY)
Profit Before Tax: (₹282) million (vs. (₹118) million)
Profit/(Loss) After Tax: (₹228) million (vs. (₹155) million)
Profit/(Loss) After Tax %: (3.1)% (vs. (2.5)%)

Full Year FY26 Performance:

Revenue from Operations: ₹13,387 million (vs. ₹12,330 million in FY25, +8.6% YoY)
Cost of Food and Beverages Consumed: ₹4,498 million (vs. ₹3,919 million, +14.8% YoY)
Employee Related Expenses: ₹3,230 million (vs. ₹2,967 million, +8.9% YoY)
Occupancy and Other Expenses: ₹3,729 million (vs. ₹3,332 million, +11.9% YoY)
Operating EBITDA: ₹1,930 million (vs. ₹2,113 million, -8.7% YoY)
Operating EBITDA %: 14.4% (vs. 17.1%)
Finance Cost: ₹860 million (vs. ₹779 million, +10.4% YoY)
Depreciation and Amortization: ₹1,900 million (vs. ₹1,765 million, +7.6% YoY)
Profit Before Tax: (₹683) million (vs. (₹272) million)
Profit/(Loss) After Tax: (₹619) million (vs. (₹270) million)
Profit/(Loss) After Tax %: (4.6)% (vs. (2.2)%)

Adjusted Profitability Metrics (excluding IND AS 116, noncash ESOP provisions, and one-time impact of New Labour Code):

H2 FY26 Adjusted Operating EBITDA: ₹560 million (vs. ₹529 million in H2 FY25, +5.9% YoY)
H2 FY26 Adjusted Operating EBITDA%: 7.6% (vs. 8.5%)
H2 FY26 Cash Profit: ₹443 million (vs. ₹459 million, -3.5% YoY)
H2 FY26 Cash Profit %: 6.0% (vs. 7.4%)
H2 FY26 Adjusted PAT: Not specified (vs. (₹26) million)

FY26 Adjusted Operating EBITDA: ₹729 million (vs. ₹906 million in FY25, -19.5% YoY)
FY26 Adjusted Operating EBITDA%: 5.5% (vs. 7.4%)
FY26 Cash Profit: ₹572 million (vs. ₹790 million, -27.6% YoY)
FY26 Cash Profit %: 4.3% (vs. 6.4%)
FY26 Adjusted PAT: (₹289) million (vs. (₹31) million)
FY26 Adjusted PAT%: (2.2)% (vs. (0.3)%)

Balance Sheet Position (as of March 31, 2026)

Assets:

Property, plant and equipment: ₹4,341 million
Capital work-in-progress: ₹136 million
Goodwill: ₹1,000 million
Other intangible assets: ₹96 million
Right-of-use assets: ₹6,170 million
Other financial assets: ₹443 million
Other non-current assets: ₹123 million
Deferred tax assets (net): ₹596 million
Total Non-current assets: ₹12,905 million
Inventories: ₹437 million
Trade receivables: ₹31 million
Cash and cash equivalents: ₹256 million
Bank balances other than cash and cash equivalents: ₹21 million
Other financial assets: ₹304 million
Other current assets: ₹302 million
Current tax assets (net): ₹117 million
Total current assets: ₹1,468 million
Total assets: ₹14,373 million

Liabilities and Equity:

Non-controlling interest: ₹110 million
Total equity: ₹3,213 million
Borrowings (non-current): ₹772 million
Lease liabilities (non-current): ₹6,665 million
Provisions (non-current): ₹188 million
Deferred tax liabilities: ₹3 million
Total Non-current liabilities: ₹7,628 million
Borrowings (current): ₹572 million
Lease liabilities (current): ₹843 million
Trade payables: ₹1,392 million
Other financial liabilities: ₹106 million
Provisions (current): ₹152 million
Other current liabilities: ₹453 million
Current tax liabilities (net): ₹14 million
Total current liabilities: ₹3,532 million
Total equity and liabilities: ₹14,373 million

Management Team

The presentation details the senior management team:

Rahul Agrawal - CEO & Whole-time Director (IIM Bangalore, SRCC, 9 years with UFBL, 21+ years experience)
Vipul Goel - Chief Operating Officer (SIBM Pune, Thapar Institute, 1 year with UFBL, 19+ years experience)
Gulshan Chawla - Chief People Officer (MDI Gurgaon, SRCC, 6 years with UFBL, 21+ years experience)
Amit Betala - Chief Financial Officer (IIM Lucknow, Loyola College, 6 years with UFBL, 14+ years experience)
Nakul Gupta - Chief Marketing Officer (XLRI Jamshedpur, SRCC, 5 years with UFBL, 21+ years experience)
Ahmed Raza - Chief Technology Officer (SSBV, 14 years with UFBL, 25+ years experience)
Amit Wadhera - Chief Culinary Officer (IHM, 1 year with UFBL, 25+ years experience)
Mansoor Memon - Chief Development Officer & Head - International (MJCET, Hyderabad, 19 years with UFBL, 25+ years experience)
Goutham Balasubramaniam - Founder & CEO – Premium CDR (Johnson and wales, florida SIHM, Trichy, 18 years with UFBL, 29+ years experience)

Corporate Governance

The company has an eminent Board ensuring high standards of corporate governance with various committees:

Risk Management Committee
Audit Committee
Corporate Social Responsibility and Sustainability Committee
Stakeholders' Relationship Committee
Nomination & Remuneration Committee
Investment Committee

6 out of 8 Board members are non-executive directors, including 3 independent directors.

Awards & Accolades

The company has received numerous awards including:

Ranked #14 among India's Best Companies to Work For 2025 by The Economic Times & Great Place to Work®
'Best BBQ Restaurant in West India' at Food Connoisseurs India Awards (8th Edition)
'Barbeque Restaurant of the Year' at Telangana Restaurant Awards 2026
'Best Buffet Restaurant' at Times Food & Nightlife Awards 2026– Noida & Delhi
Multiple awards for Toscano and Salt brands

ESG Commitment

The company demonstrates commitment to environmental, social, and governance principles through:

Responsible sourcing from certified suppliers (BAP and HACCP)
Environmental infrastructure deployment (air scrubbers, smoke eliminators, grease traps, wastewater treatment)
Operational sustainability focus (energy efficiency, waste reduction, biodegradable chemicals)
Capability development programs and Leadership Academy
Diversity & inclusion initiatives with women representation at Board and KMP levels
Comprehensive employee well-being programs
Multi-channel grievance redressal and customer feedback mechanisms
Comprehensive policy architecture covering ethics, whistleblower, anti-corruption, and other governance practices

Shareholding Pattern

(as of the latest disclosed information):

Promoters: 34.6%
Jubilant Foodworks: 9.3%
Institutional investors: 26.4%
Others: 29.7%

Growth Strategy & Outlook

The company outlines a clear path to sustained growth and value creation with multiple levers:

Established presence across 6 brands enabling diversified growth
Strong unit economics with profitable store-level model
Significant expansion runway to scale across untapped markets and formats
Multi-engine growth momentum across core business, international expansion, and premium segments
Operating leverage expected to drive profitability as scale increases
Well-positioned in a growing industry with favorable tailwinds

Investor Contact Information

Bijay Sharma - Head of Investor Relations (Investors@ufbl.in)
Sumeet Khaitan (sumeet.khaitan@in.mpms.mufg.com)
Meeting Request Link: https://www.miraqle.com/in/meeting-request/