Financial Results Overview

The Board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.

Standalone Financial Results (₹ in million):

  • Q2 FY27 Revenue from operations: ₹7,055.70 vs. ₹5,686.53 (Q2 FY26)
  • Q2 FY27 Total income: ₹7,351.86 vs. ₹5,801.58 (Q2 FY26)
  • Q2 FY27 Profit before tax: ₹155.85 vs. loss of ₹(202.12) (Q2 FY26)
  • Q2 FY27 Profit for the period: ₹155.85 vs. loss of ₹(202.12) (Q2 FY26)
  • H1 FY27 Profit for the period: ₹124.11 vs. loss of ₹(317.80) (H1 FY26)
  • Basic EPS: ₹0.23 (Q2 FY27) vs. ₹(0.35) (Q2 FY26)

Consolidated Financial Results (₹ in million):

  • Q2 FY27 Revenue from operations: ₹8,448.47 vs. ₹7,004.25 (Q2 FY26)
  • Q2 FY27 Loss before tax: ₹(237.91) vs. ₹(633.29) (Q2 FY26)
  • Q2 FY27 Loss for the period: ₹(237.91) vs. ₹(633.29) (Q2 FY26)
  • H1 FY27 Loss for the period: ₹(567.94) vs. ₹(1,087.58) (H1 FY26)
  • Basic EPS: ₹(0.29) (Q2 FY27) vs. ₹(1.01) (Q2 FY26)

Balance Sheet Position (Standalone as of September 30, 2026)

  • Total assets: ₹53,853.33 million vs. ₹42,739.55 million (March 31, 2026)
  • Equity share capital: ₹7,122.18 million vs. ₹5,828.76 million (March 31, 2026)
  • Other equity: ₹24,300.54 million vs. ₹15,264.55 million (March 31, 2026)

Director Appointments

The Board approved the following appointments based on Nomination and Remuneration Committee recommendations:

1. Mr. Shivakumar Dega (DIN: 00364444) as Additional Director (Non-Executive and Independent) until ensuing AGM or three months, and as Independent Director for 5 years from October 29, 2026 to October 28, 2031, subject to shareholder approval.

2. Mr. Anand Bathiya (DIN: 03084831) as Additional Director (Non-Executive and Non-Independent) effective October 29, 2026, to hold office until ensuing AGM or three months.

Management Changes

  • Mr. Sumit Zaveri appointed as Chief Executive Officer for India Business effective November 1, 2026, with designation change from Group Chief Financial Officer and Chief Business Officer. He will continue as KMP reporting to Mr. Rajeev Varman, Group CEO.

Senior Management Designations (effective November 1, 2026)

The following personnel designated as Senior Management:

  • Mr. Kiran Komatla - Group Chief Technology Officer
  • Mr. Nitin Bhayana - Group Chief Asset Procurement Officer
  • Mr. Sumeer Bedi - Chief Business Development Officer
  • Ms. Deepa Prasad - Chief Supply Chain Officer
  • Mr. Gaurav Ajjan - Head - Corporate Development & Investor Relations
  • Ms. Bhavika Dave - Head - Legal

Subsidiary Investments

1. Investment in PT Sari Burger Indonesia: Approved investment by acquiring up to 250,000 Optionally Convertible Preference Shares (OCPS) at nominal value of IDR 1,000,000 per share through subscription in one or more tranches, for amount not exceeding IDR 250 billion (Indonesia Rupiah Two Hundred Fifty billion) equivalent in INR. This supersedes previous approval for IDR 100 billion investment in Redeemable Cumulative Non-Convertible Preference Shares.

2. Conversion of Financial Instruments:

  • Conversion of loan amounting to IDR 371.50 billion granted to PT Sari Burger Indonesia into OCPS
  • Change in terms of 175,000 Redeemable Cumulative Non-Convertible Preference Shares (NCPS) aggregating IDR 175 billion, converting them along with dividend into OCPS
  • Both transactions subject to shareholder approval for material related party transactions

Capital Structure Changes

  • Approved increase in limits for making investments, granting loans, giving guarantees, providing security under Section 186 of Companies Act, 2013 from existing ₹2,500 crore to ₹4,500 crore, notwithstanding statutory limits. Subject to shareholder approval through postal ballot.

Meeting Details

  • Meeting held on October 29, 2026
  • Commenced at 02:35 p.m. IST and concluded at 04:34 p.m. IST

Auditor Review

  • Limited review report provided by BSR & Co. LLP for both standalone and consolidated financial results
  • Review conducted in accordance with SRE 2410 issued by ICAI
  • Nothing came to attention that causes belief that financial results contain material misstatement

Additional Information

  • The company completed a preferential issue on June 2, 2026, allotting:
  • 128,571,128 equity shares at ₹70.00 per share to Lenexis Foodworks Private Limited
  • 100 equity shares each to Aayush Agrawal Trust, Inspira Foodworks Private Limited, and Mr. Aayush Madhusudan Agrawal at ₹70.00 per share
  • 85,714,285 warrants to Lenexis Foodworks Private Limited at ₹17.50 per warrant (25% paid, balance payable within 18 months)
  • Acquirers (Lenexis Foodworks, Aayush Agrawal Trust, Inspira Foodworks, and Mr. Aayush Agrawal) along with Inspira Agro Trading LLC acquired control and became promoters effective July 7, 2026
  • Previous QIP proceeds of ₹5,000 million (March 2025) were utilized for debt repayment (₹720 million), capex for new restaurants (₹3,249.99 million), and general corporate purposes (₹830.86 million)