Devyani International Limited – Investor Presentation Summary

Key Operational Highlights

  • Total store count exceeds 2,200 stores across 350+ cities in India, Thailand, Nigeria, and Nepal
  • KFC added 11 net new stores in India and 2 in Thailand during Q1 FY27
  • Biryani By Kilo added 3 net new stores
  • Yearly store opening plan is as per initial guidance
  • Key drivers: Dine-in focused strategy with exclusive offers and campaigns, 2-pronged offline recruitment & value and online convenience & accessibility strategy

Segment-wise Performance

  • KFC India revenue: ₹6,842 million, +11.7% vs Q1 FY26
  • International business revenue: ₹5,230 million, +20.7% vs Q1 FY26
  • Own Brands performance: Revenue grew to ₹549 million in Q1 FY27 from ₹519 million in Q1 FY26
  • Franchisee Brands performance: Revenue declined to ₹197 million in Q1 FY27 from ₹222 million in Q1 FY26
  • Explanation: Growth driven by strong same-store sales performance across most brands and geographic expansion

Financial Highlights

  • Revenue from Operations: ₹15,805 million
  • EBITDA: ₹2,548 million
  • PAT: ₹171 million
  • Gross Margin: 69.1% (+0.9% vs Q1 FY26)
  • EBITDA Margin: 16.1% (+100 bps vs Q1 FY26)
  • Brand Contribution Margin: 14.2% vs 13.1% in Q1 FY26
  • PBT: ₹229 million (highest in 8 quarters)
  • YoY comparison: Revenue +16.5%, EBITDA +24.3%, PAT +677%
  • Drivers: Revenue growth, operational efficiencies, despite cost inflation on LPG and wage hikes
  • Key Risks: Raw material cost inflation, LPG price increases, wage cost pressures, below-normal season forecast with El Niño risk

Geographical Revenue Split

  • India Revenue: ₹10,709 million, +14.9% vs Q1 FY26 (67.8% of total)
  • International Revenue: ₹5,230 million, +20.7% vs Q1 FY26 (33.1% of total)
  • Regional Breakdown: Thailand (321 stores), Nigeria (40 stores), Nepal (38 stores)

Balance Sheet Snapshot

  • Not Specified

Capex & Cash Flow Health

  • Not Specified

Strategic & R&D Initiatives

  • Merger process with Sapphire Foods progressing with NSE and BSE approvals received in June 2026
  • Targeting merger completion by end of FY27
  • Building "DIL 2.0" with new management team and operational shifts
  • Expected impact: Enhanced scale and market position through merger

Industry Trends & Business Environment

  • Operating environment remains volatile with seasonal complexities
  • Demand has remained stable so far
  • Forecast of below-normal season combined with El Niño risk
  • Impact: Consumption recovery in India may not move in straight line, potential headwinds to growth

Management Commentary & Growth Outlook

  • Strategic Outlook: "We begin the new financial year on a strong note. The momentum we built through the second half of FY26 has continued into Q1 FY27"
  • FY Guidance: Merger completion targeted by FY27 end; store opening plan as per initial guidance
  • Risks: Cost inflation on LPG and wage costs, volatile operating environment, weather-related risks
  • Opportunities: Continued same-store sales growth, dine-in strategy working, international expansion