Date: November 2, 2026

Financial Performance Review:

Revenue: Q2 FY27 revenues reached ₹15,194 million, representing a 10.4% year-over-year (YoY) growth.

Profitability:

  • Operating EBITDA grew by 34% YoY to ₹1,251 million, with an EBITDA margin of 8.2%.
  • Quarterly reported EBITDA was ₹229 crore.
  • Profit Before Tax (PBT) for the quarter was ₹57 million, a significant improvement from a loss in the same quarter last year.
  • For H1 FY27, PBT was ₹29 crore compared to a loss of ₹24 crore in the previous year.

Margins: Brand Contribution margins improved by 1.3% for the quarter and by 1.2% year-to-date (YTD).

Same-Store Sales Growth (SSSG):

  • KFC SSSG accelerated to +4.4%
  • Costa Coffee SSSG was +9.9%
  • Biryani By Kilo (BBK) delivered +8.1% SSSG
  • Pizza Hut (PH) showed sequentially better numbers

Operational Metrics:

Store Network:

  • Total global store network reached 2,325 stores.
  • 70 new stores were added during the quarter.
  • KFC led expansion with 50 net new units added in India.
  • Indian store footprint stands at 1,923 stores.
  • The company is on track to meet its full-year guidance of 200-220 net new store additions.

Management Commentary:

Mr. Ravi Jaipuria, Chairman, highlighted:

  • Growth momentum continued firmly into Q2 with positive SSSGs ranging from 4% to 9% across most brands
  • Growth was transaction-led with growth in on-premises channel sales
  • Despite steep inflation in raw materials and wages, leverage from higher same-store sales and tight cost control helped lift EBITDA
  • The new management team is settling in well
  • Pre-merger preparation plans are progressing well
  • The company has received CCI approval for the merger from authorities

Company Background:

Devyani International Limited is one of India's largest QSR operators with over 2,200 stores across more than 350 cities in India, Thailand, Nigeria, and Nepal. The company is the largest franchisee of Yum! Brands in India and Nepal, and sole franchisee in India for Costa Coffee, New York Fries, and Sanook Kitchen. Indigenous brands include Vaango and The Food Street. The company strengthened its Indian cuisine offerings through the acquisition of Sky Gate Hospitality, which owns Biryani By Kilo and Goila Butter Chicken brands.