United Foodbrands Q1 FY27 Revenue Up 43.4% YoY

Business Overview

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

India's largest casual dining company with #1 position in the CDR format
266 restaurants across India, Middle East & South East Asia (SEA)
90% of dine-in volumes through own channels (app/call centre/walk-in)
Q1 FY27 annualized revenue of ₹17,036 Mn
4-year annualized revenue CAGR of 7.8%
Three distinct business segments: domestic dominance, international expansion, and aspirational tiering

Operational Performance - Q1 FY27

Consolidated Performance

Revenue from Operations: ₹4,259 Mn (43.4% YoY growth from ₹2,970 Mn in Q1 FY26)
Pre IND-AS Restaurant Operating Margin: 14.6% (₹621 Mn, 81.6% YoY growth)
5 new restaurants opened in Q1; 1 closure
Same Store Sales Growth (SSSG): 28.7% driven by robust transaction growth
Gross profit: ₹2,802 Mn (39.4% YoY growth)
Gross margins expanded 30 bps QoQ led by margin expansion in BBQN India
Matured restaurants delivered 16.2% restaurant operating margins (vs. 13.3% last year)
Dine-in revenue growth: 40.3% YoY with 63.5% YoY dine-in volume growth
Delivery revenue growth: 61.9% YoY across all brands

Segment-wise Performance

Barbeque Nation India

Revenue: ₹4,259 Mn (43.4% YoY growth)
3 new restaurants opened
SSSG: 33.5% driven by transaction growth
Gross profit increased by 39.0% YoY
Gross margins expanded 130 bps QoQ
Pre Ind-AS restaurant operating profit: ₹617 Mn (117.0% YoY growth)
Margins expanded to 14.5% from 9.6% in Q1FY26
Revenue per restaurant: ₹67 Mn
Pre IND-AS Restaurant Operating margin: 15.5%
Average per store Capex: ₹25 Mn
Store level ROCE: 30.6%
Store Payback Period: 3.0–3.5 years

International Operations

Revenue growth: 46.6% YoY
Dine-in transaction growth: 45.2%
Gross profit: ₹372 Mn (40.2% YoY growth)
Gross margins moderated by 320 bps YoY due to inflationary pressures from Middle East crisis
Pre-Ind AS restaurant operating margins: 18.7%
Revenue per restaurant: ₹133 Mn
Pre IND-AS Restaurant Operating margin: 26.3%
Average per store Capex: ₹65 Mn
Store level ROCE: 40.5%
Store Payback Period: 2.5–3.0 years

Premium CDR

Revenue: ₹71 Mn (36.2% YoY growth)
Added 1 new restaurant; 1 closure
SSSG: 13.6% driven by transaction growth
Gross profit up 36.0% with stable gross margin of ~73.5%
Pre-Ind AS restaurant operating margins: 10.9% (sequential growth of 150bps QoQ)
Matured restaurants delivered Pre-IND AS restaurant operating margin of 20.0%
Revenue per restaurant: ₹71 Mn
Pre IND-AS Restaurant Operating margin: 20.0%
Average per store Capex: ₹30 Mn
Store level ROCE: 32.6%
Store Payback Period: 2.5–3.0 years

Financial Performance - Consolidated P&L

| PARTICULARS (₹ Mn) | Q1 FY27 | Q1 FY26 | Y-o-Y Gr% | FY26 | FY25 | Y-o-Y Gr% |

| Revenue from Operations | 4,259 | 2,970 | 43.4% | 13,387 | 12,330 | 8.6% |

| Cost of Food and Beverages Consumed | 1,457 | 960 | 51.8% | 4,498 | 3,919 | 14.8% |

| Employee Related Expenses | 870 | 729 | 19.3% | 3,230 | 2,967 | 8.9% |

| Occupancy and Other Expenses | 1,234 | 821 | 50.3% | 3,729 | 3,332 | 11.9% |

| Operating EBITDA | 699 | 460 | 51.8% | 1,930 | 2,113 | (8.7)% |

| Operating EBITDA % | 16.4% | 15.5% | | 14.4% | 17.1% | |

| Other Income | 12 | 19 | (36.0)% | 148 | 158 | (6.3)% |

| Finance Cost | 229 | 200 | 14.5% | 860 | 779 | 10.4% |

| Depreciation and Amortization | 457 | 449 | 1.8% | 1,900 | 1,765 | 7.6% |

| Profit Before Tax | 24 | (170) | | (683) | (272) | |

| Tax Expense | 1 | (3) | | (64) | (1) | |

| Profit/(Loss) After Tax | 23 | (167) | 190 mn | (619) | (270) | |

| Profit/(Loss) After Tax % | 0.5% | (5.6)% | | (4.6)% | (2.2)% | |

Adjusted Profitability*

Adjusted Operating EBITDA: ₹343 Mn (152.3% YoY growth from ₹136 Mn)
Adjusted Operating EBITDA%: 8.1% (vs. 4.6% in Q1 FY26)
Adjusted PAT: ₹87 Mn (improvement of ₹215 Mn from ₹(128) Mn loss)
Adjusted PAT%: 2.0% (vs. (4.3)% in Q1 FY26)

*Adjusted Profitability is calculated without the impact of IND AS 116, excludes noncash ESOP provisions and one time impact of New Labour Code. Adjusted Operating EBITDA also excludes interest income.

Balance Sheet Position (as of March 31, 2026)

Equity and Liabilities

Equity share capital: ₹195 Mn (unchanged from March 31, 2025)
Other equity: ₹2,908 Mn (vs. ₹3,431 Mn as of March 31, 2025)
Non-controlling interest: ₹110 Mn (vs. ₹82 Mn)
Total equity: ₹3,213 Mn (vs. ₹3,709 Mn)
Borrowings (non-current): ₹772 Mn (vs. ₹462 Mn)
Lease liabilities (non-current): ₹6,665 Mn (vs. ₹6,150 Mn)
Total non-current liabilities: ₹7,628 Mn (vs. ₹6,747 Mn)
Borrowings (current): ₹572 Mn (vs. ₹233 Mn)
Lease liabilities (current): ₹843 Mn (vs. ₹730 Mn)
Trade payables: ₹1,392 Mn (vs. ₹1,105 Mn)
Total current liabilities: ₹3,532 Mn (vs. ₹2,685 Mn)
Total equity and liabilities: ₹14,373 Mn (vs. ₹13,141 Mn)

Assets

Property, plant and equipment: ₹4,341 Mn (vs. ₹3,930 Mn)
Capital work-in-progress: ₹136 Mn (vs. ₹140 Mn)
Goodwill: ₹1,000 Mn (vs. ₹897 Mn)
Right-of-use assets: ₹6,170 Mn (vs. ₹5,685 Mn)
Total non-current assets: ₹12,905 Mn (vs. ₹11,823 Mn)
Inventories: ₹437 Mn (vs. ₹471 Mn)
Cash and cash equivalents: ₹256 Mn (vs. ₹169 Mn)
Total current assets: ₹1,468 Mn (vs. ₹1,317 Mn)
Total assets: ₹14,373 Mn (vs. ₹13,141 Mn)

Brand Portfolio and Store Network

The company owns a multi-brand portfolio with complete ownership enabling full control over strategy, innovation, guest experience, and expansion:

Digital Ecosystem and Customer Engagement

Cumulative App Downloads: 9.7 Mn in Q1 FY27 (growing from 7.9 Mn in Q1 FY26)
~1.4 Mn monthly active users across owned platforms (59.6% YoY growth)
Captive channels drive ~90% of dine-in transactions
Strong digital engagement with own platforms driving higher conversions

Expansion Strategy and Market Opportunity

Plan to reach 400–425 restaurants by FY30
Large whitespace for expansion across markets with proven store rollout model
Market opportunity estimated at ₹3.0L Cr Total AMC eating-out market
Presence in 93 cities across 7 countries
Supported by structural growth drivers: Urbanization, Income growth, Nuclear families, Experience shift, Celebration culture

Management Team

The company is led by a team of professionals with diverse experience:

Rahul Agrawal (CEO & Whole-time Director): IIM Bangalore, SRCC, 21+ years experience, previously with CX Partners, Ernst & Young
Vipul Goel (Chief Operating Officer): SIBM Pune, Thapar Institute, 19+ years, previously with Amazon, MTR Foods, Whirlpool
Gulshan Chawla (Chief People Officer): MDI Gurgaon, SRCC, 21+ years, previously with OYO Rooms, HCL
Amit Betala (Chief Financial Officer): IIM Lucknow, Loyola College, 14+ years, previously with Clix Capital, Axis Capital
Nakul Gupta (Chief Marketing Officer): XLRI Jamshedpur, SRCC, 21+ years, previously with Tata Motors
Ahmed Raza (Chief Technology Officer): SSBV, 25+ years, previously with Sayaji Hotels, ShawMan Software
Amit Wadhera (Chief Culinary Officer): IHM, 25+ years, previously with The Park Hotels, The Leela, Oberoi
Mansoor Memon (Chief Development Officer & Head - Intl): MJCET, Hyderabad, 25+ years, previously with Chase Contracting, Dubai
Goutham Balasubramaniam (Founder & CEO – Premium CDR): Johnson and wales, Florida SIHM, Trichy, 29+ years, previously with Madinath Jumeirah, The Leela, Taj

Corporate Governance

6 out of 8 Board members are non-executive directors, including 3 independent directors
Comprehensive policy architecture covering ethics, whistleblower, anti-corruption, human rights, diversity, POSH, food safety and data privacy practices
Multi-channel grievance redressal and customer feedback mechanisms

Awards & Accolades

Ranked among India's Best Companies to Work For 2026 by The Economic Times & Great Place to Work® (Ranked #40)
Multiple awards including 'Barbeque Restaurant of the Year' at various regional restaurant awards
Recognized for best Italian cuisine and best buffet restaurant categories

ESG Initiatives

Responsible sourcing: Protein raw materials from suppliers with BAP and HACCP certifications
Environmental infrastructure: Air scrubbers, smoke eliminators, grease traps and wastewater treatment systems
Operational sustainability: Energy efficiency, waste reduction, biodegradable cleaning chemicals
Diversity & inclusion: Women represented at both Board and KMP levels
Employee well-being: Comprehensive health, accident and welfare coverage

Shareholding Pattern (as on June 30, 2026)

Promoters & Promoter Group: 34.6%
Jubilant Foodworks: 9.3%
Institutional investors: 27.8%
Others: 28.3%

Forward-looking Statements Disclaimer

The presentation contains forward-looking statements relating to implementation of strategic initiatives and future business developments and economic performance. Actual results may differ materially due to factors including general market conditions, macro-economic factors, governmental and regulatory trends, currency exchange and interest rate movements, competitive pressures, technological developments, and changes in financial conditions of third parties.