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Devyani International Limited Investor Presentation 2026
62452_rns_2026-05-15_109ab45c-1dea-4972-9acd-5f07c415ec51.pdf
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RI CORP
Devyani International Limited
dIL
May 15, 2026
To,
| National Stock Exchange of India Ltd.
Exchange Plaza, Block G, C/1, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
Email: [email protected]
Symbol: DEVYANI | BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai – 400 001
Email: [email protected]
Security Code: 543330 |
| --- | --- |
Sub: Regulation 30: Presentation on Audited Financial Results of the Company for the Quarter and Financial Year ended March 31, 2026
Dear Sir/ Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached a copy of the Presentation on Audited Financial Results of the Company for the Quarter and Financial Year ended March 31, 2026.
The same is also being uploaded on website of the Company at www.dil-rjcorp.com.
You are requested to take the above on record.
Yours faithfully,
For Devyani International Limited
Pankaj
Virmani
Pankaj Virmani
Chief Sustainability Officer & Company Secretary
Encl.: As above
Registered & Corporate Office : Plot No.18, Sector-35, Gurugram - 122004, Haryana (India) • Tel.: +91-124-4566300, 4786000
E-mail: [email protected] • Website: www.dil-rjcorp.com
CIN : L15135HR1991PLC143853
DEVYANI INTERNATIONAL LIMITED
Q4 FY'26
Results Presentation
May 15, 2026
KFC
PIPES & FUT
COSTA COFFEE
NMF
New York City
SANOOK KITCHEN
KINGDOM
BIRYANI BY KILO
GOILA
BIRYANI KINGDOM
Disclaimer
dL
The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase any securities ("Securities") of Devyani International Limited (the "Company") in India, the United States or any other jurisdiction. This presentation should not, nor should anything contained in it, form the basis of, or be relied upon in any connection with any contract or commitment whatsoever. This presentation is not an offer of securities for sale in the United States or elsewhere. This presentation does not constitute a prospectus, a statement in lieu of a prospectus, an offering circular, information memorandum, an invitation or advertisement or an offer document under the Companies Act, 2013, together with the rules thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 each as amended, or any other applicable law in India.
This presentation may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements are based on certain assumptions and expectations of future events. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. There is no obligation on the Company or any of its directors, officers, employees, agents or advisers, or any of their respective affiliates, advisers or representatives to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise and none of them shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. You are cautioned not to place undue reliance on these forward-looking statements, which are based on current view of the Company's management on future events.
The data and opinion expressed herein with respect to the Company is based on a number of assumptions and is subject to a number of known and unknown risks, which may cause the Company's actual results or performance to differ materially from any projected future results or performance expressed or implied by such statements. Further, certain figures (including amounts, percentages and numbers), as applicable, have been rounded-off to the nearest number and may not depict the exact number.
We use a variety of financial and operational performance indicators to measure and analyze our financial performance and financial condition from period to period and to manage our business. Further, financial or performance indicators used here, have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, analysis of our historical financial performance, as reported and presented in our financial statements. Further, past performance is not necessarily indicative of future results.
This presentation has been prepared by the Company. This document is a summary only and does not purport to contain all of the information that may be required to evaluate any potential transaction and any recipient thereof should conduct its own independent analysis of the Company and their businesses, including the consulting of independent legal, business, tax and financial advisers. The information in this presentation has not been independently verified and has not been and will not be reviewed or approved by any statutory or regulatory authority or stock exchange in India. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. Further, nothing in this document should be construed as constituting legal, business, tax or financial advice.
dIL
CHAIRMAN COMMENTS
The year has been a defining one for Devyani International — a year in which we navigated a challenging operating environment while taking transformational steps that position the company strongly for the future.
Our proposed merger with Sapphire Foods is a strategic combination of two scaled-up and complementary platforms, united by a shared vision for long-term growth. Upon completion, the merged entity will emerge as one of the largest QSR platforms globally and as one of the largest partners for Yum; with a diversified portfolio of leading brands, expanded geographic reach, and enhanced operational capabilities. The merger is expected to unlock meaningful synergies, strengthen execution, and create a more agile and efficient organization capable of accelerating growth across markets.
We have also taken steps to transform our management team under the leadership of Manish, our new CEO. I am happy with the progress made and feel very confident that we will be able to largely have the new team in place by next quarter. Our focus is to bring in experienced and forward-looking professionals with deep operational and strategic expertise. As we prepare for the next phase of growth and integration, these capabilities will be critical in driving transformation across the organization. Technology, automation, and data-led decision making will remain central and critical to this journey. This will also play a key role in enhancing efficiency, scalability, and customer experience. The new management team is being formed, keeping in sync with our aspirations for DIL to become one of the large and most admired global QSR companies.
Demand sentiment during the quarter remained broadly stable – helped by favorable policy stimulus and GST rate rationalization. Volume-leading growth in adjacent consumption categories like FMCG further points to stable demand trends.
As a result of the stable demand environment and tailored & sustained customer engagement, KFC delivered its strongest performance in the last 14 quarters — posting a healthy 4.9% positive SSSG and nearly 15% year-on-year growth during the quarter. It continues to anchor our growth momentum and network expansion. Our own and franchised brands also maintained positive SSSG trends. Overall, our footprint growth was calibrated, and we ended the year with a global network of 2,256 stores.
Throughout the year, we remain disciplined in our execution — with a clear focus on protecting unit economics, driving operational efficiencies, and maintaining financial prudence. At the same time, our marketing efforts remained sharply focused on enhancing value perception and improving accessibility for consumers across key brands.
Encouragingly, we continue to witness improvement in the consumption trends, as far as our brands are concerned. Our value-led initiatives and accessibility-focused campaigns at KFC are resonating well with our consumers, resulting in improved average daily sales trends and sequential recovery in SSSG performance. While external and seasonal factors remain fluid, we are optimistic about demand conditions and believe the business is well positioned for stronger performance during the year.
Our strategic priorities remain unchanged — disciplined expansion, stronger profitability, and deeper consumer relevance through innovation and digital engagement. Our view on India opportunity remains unchanged and the proposed merger further enhances our ability to execute these priorities on scale and reinforces our confidence in the long-term opportunity ahead.
This has been a year of resilience, execution, and strategic progress. With the merger progressing well, leadership capabilities strengthening, and demand trends showing signs of recovery, we believe we are entering into our next phase of growth from a position of strength.
FY26 Q4 - BUSINESS HIGHLIGHTS
dL
Strong SSSG performance in a seasonally soft quarter
✓ KFC (India) posted SSSG of +4.9% ; highest in last 14 quarters
✓ BBK delivered +3.2% SSSG. Vaango and Costa continue the +ve SSSG trend.
Growth strategy
✓ Disruptive value – combos and meals that provide value to customers while delivering higher AOVs.
✓ With BBK turnaround achieved, target footprint expansion- BBK express under test
International operations stable
✓ Positive SSSG momentum on International business
✓ Continued improvement in Brand Contribution margins - YoY and sequentially.
FY26 - Q4/FY - PERFORMANCE HIGHLIGHTS
dL
Store snapshot
- 2,256 Stores as of Mar 31, 2026
- Added 217 net new stores in FY26
- LPG issue: effectively managed
Margin Performance
Consolidated Gross Margin
- Q4 FY26 at 68.8%; +0.3% YoY
Brand Contribution
- Consolidated Q4 FY26 at 14.1%; 0.3% YoY
Continued Revenue growth
- Q4 FY26 INR 14,369 Mn; +18.5% YoY
- India Revenue INR 9,459 Mn; +18.1% YoY
- KFC India INR 5,855 Mn; +14.6% YoY
- International business INR 5,033 Mn; +20.0% YoY
Earnings Performance
Consolidated EBITDA
- Q4 FY26 INR 2,295 Mn
- EBITDA Margin at 16%; -0.6% YoY
dIL
NEW STORE OPENINGS AND STORE COUNT
| Net New Units (NNU) | ||||||
|---|---|---|---|---|---|---|
| Brand | Q4 FY25 | Q3 FY26 | Q4 FY26 | FY25 | FY26 | |
| YUM BRANDS | -7 | 72 | -5 | 163 | 96 | |
| KFC | 7 | 54 | -5 | 100 | 87 | |
| PH | -14 | 18 | 0 | 63 | 9 | |
| FRANCHISEE BRANDS * | 11 | -15 | -5 | 41 | -22 | |
| OWN BRANDS** | 2 | 17 | -1 | 33 | 121 | |
| Food-Courts/Airports | 0 | -1 | -1 | -2 | -2 | |
| Total India | 6 | 73 | -12 | 235 | 193 | |
| Thailand | 1 | 17 | -2 | 18 | 15 | |
| Nigeria | 0 | 0 | 0 | 0 | 0 | |
| Nepal | 0 | 3 | 2 | 4 | 9 | |
| Total International | 1 | 20 | 0 | 22 | 24 | |
| Total DIL | 7 | 93 | -12 | 257 | 217 | |
| Stores as at 31 March 25 | Stores as at 31 Mar 26 | |||||
| --- | --- | |||||
| 1,326 | 1,422 | |||||
| 696 | 783 | |||||
| 630 | 639 | |||||
| 220 | 198 | |||||
| 96 | 217 | |||||
| 22 | 20 | |||||
| 1,664 | 1,857 | |||||
| 306 | 321 | |||||
| 40 | 40 | |||||
| 29 | 38 | |||||
| 375 | 399 | |||||
| 2,039 | 2,256 |
*Does not include Tealive stores & Costa PVR
** Includes 20 BBK express format stores
NNU = Gross additions less Closures
dL
PERFORMANCE TREND – DIL CONSOLIDATED
STORE COUNT (NOS) AT END OF PERIOD
REVENUE FROM OPERATIONS
GROSS MARGIN
BRAND CONTRIBUTION
OPERATING EBITDA
REPORTED EBITDA
PERFORMANCE TREND – DIL INDIA
dIL
All figures in INR Million, unless specified
STORE COUNT (NOS) AT END OF PERIOD
REVENUE FROM OPERATIONS
GROSS MARGIN
BRAND CONTRIBUTION
OPERATING EBITDA
REPORTED EBITDA
dL
PERFORMANCE TREND – DIL INTERNATIONAL
STORE COUNT (NOS) AT END OF PERIOD
KFC ADS ('000)
REVENUE FROM OPERATIONS
GROSS MARGIN
BRAND CONTRIBUTION
KFC
dL
AMBIENCE MALL, GURUGRAM
Core Brands – KFC – India
KFC
dL
Q4 New Stores
Adoni, Andhra Pradesh
Paras Sec-59, Gurgaon
Adilabad, Telangana
Chityala Highway, Telangana
BUSINESS PERFORMANCE – KFC INDIA
KFC
dL
All figures in INR Million, unless specified
REVENUE AND SALES MIX
ADS'000 AND SSSG
GROSS MARGIN
BRAND CONTRIBUTION
KFC
dL
CUSTOMERS ARE LOVING IT!!
Pizza Hut
A NEW WAY TO PIZZA
LIGHT ON CRUST, BIG ON FLAVOUR.
CRAFTED IN FLAVOURN
*Ti&Co Apply.
Core Brands – Pizza Hut – India
14
Q4 New Stores
Q
dL
Nirjuli, Andhra Pradesh
Phoenix Mall Bareilly, UP.
BUSINESS PERFORMANCE – PH INDIA
All figures in INR Million, unless specified
Revenue and Sales mix
Gross Margin
ADS'000 and SSSG
Brand Contribution
PH MARKETING CAMPAIGNS
dIL
PERFORMANCE TREND - OWN BRANDS
BHKTAND
GQILA
dL
All figures in INR Million, unless specified
STORE COUNT (NOS) AT END OF PERIOD
REVENUE FROM OPERATIONS
* Includes 20 BBK express format stores
ADS ('000)
| Q4 FY25 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|
| Vaango | 23 | 22 | 25 |
| BBK: Cloud/dine-In | 78 | 72 | |
| express format | 18 |
Gross Margin
BRAND CONTRIBUTION
PERFORMANCE TREND – FRANCHISEE BRANDS
AIB
NtI
2πr
dl
All figures in INR Million, unless specified
STORE COUNT (NOS) AT END OF PERIOD
REVENUE FROM OPERATIONS
Gross Margin
ADS ('000)
| Q4 FY25 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|
| Costa | 27 | 27 | 28 |
BRAND CONTRIBUTION
Summary Financials
CONSOLIDATED PROFIT & LOSS STATEMENT*
dL
| Particulars (INR Million) | Q4' FY25 | Q3' FY26 | Q4' FY26 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue from Operations | 12,126 | 14,409 | 14,369 | 49,511 | 56,115 |
| Other Income | 132 | 123 | 141 | 370 | 451 |
| Total Income | 12,258 | 14,532 | 14,510 | 49,880 | 56,566 |
| Raw Material Cost | 3,819 | 4,481 | 4,483 | 15,388 | 17,719 |
| Gross Profit | 8,307 | 9,928 | 9,886 | 34,123 | 38,396 |
| Gross Margin | 68.5% | 68.9% | 68.8% | 68.9% | 68.4% |
| Employee benefits expense | 1,706 | 2,175 | 2,093 | 7,104 | 8,296 |
| Other expenses | 4,592 | 5,486 | 5,498 | 18,596 | 21,546 |
| Total Expenses | 6,298 | 7,661 | 7,591 | 25,700 | 29,842 |
| EBITDA | 2,009 | 2,267 | 2,295 | 8,422 | 8,554 |
| EBITDA Margin | 16.6% | 15.7% | 16.0% | 17.0% | 15.2% |
| Finance Costs | 695 | 700 | 701 | 2,648 | 2,757 |
| Depreciation & Amortization Expense | 1,518 | 1,666 | 1,825 | 5,699 | 6,540 |
| Impairment | 136 | -11 | 118 | 225 | 158 |
| Foreign exchange (gain)/loss (net) | 13 | -33 | -26 | 89 | -102 |
| Share of loss of joint ventures | -2 | -1 | -0 | -3 | -5 |
| Exceptional items | 0 | -215 | 0 | 0 | -215 |
| Profit / (loss) before Tax (PBT) | (223) | (149) | (181) | 128 | (569) |
| Loss from discontinued operation | 0 | (10) | 36 | 0 | 0 |
| Tax Expense | (56) | (49) | (47) | 197 | (143) |
| Profit (loss) after Tax (PAT) | (168) | (110) | (98) | (69) | (425) |
*Includes rounding off adjustments
CONSOLIDATED BALANCE SHEET*
dL
| Particulars (INR Million) | 31-Mar-25 | 31-Mar-26 |
|---|---|---|
| Equity Share Capital | 1,206 | 1,233 |
| Other equity | 9,738 | 14,185 |
| Non-controlling Interest | 3,079 | 3,434 |
| Total Equity | 14,023 | 18,852 |
| (a) Financial liabilities | ||
| (i) Borrowings | 6,700 | 7,856 |
| (ii) Lease liabilities | 20,787 | 22,567 |
| (iii) Other financial liabilities | 63 | 117 |
| (b) Provisions | 663 | 940 |
| (c) Other non-current liabilities | 21 | 23 |
| (d) Deferred tax liabilities (Net) | 429 | |
| Total Non-Current Liabilities | 28,234 | 31,933 |
| (a) Financial liabilities | ||
| (i) Borrowings | 2,617 | 5,748 |
| (ii) Lease liabilities | 1,771 | 2,160 |
| (iii) Trade payables | 4,411 | 6,151 |
| (iv) Other financial liabilities | 1,620 | 1,725 |
| (b) Other current liabilities | 568 | 673 |
| (c) Provisions | 136 | 249 |
| (d) Current tax liabilities (net) | 6 | 9 |
| Total Current Liabilities | 11,129 | 16,714 |
| Total Liabilities | 39,363 | 48,648 |
| Total Equity and Liabilities | 53,386 | 67,500 |
| Particulars (INR Million) | 31-Mar-25 | 31-Mar-26 |
| --- | --- | --- |
| (a) Property, plant and equipment | 16,331 | 17,581 |
| (b) Capital work-in-progress | 35 | 78 |
| (c) Right-of-use assets | 18,799 | 20,306 |
| (d) Investment properties | 259 | 180 |
| (e) Goodwill | 4,581 | 6,834 |
| (f) Other intangible assets | 6,266 | 11,983 |
| (g) Other financial assets | 1,520 | 1,709 |
| (h) Deferred tax assets (net) | 574 | |
| (i) Income tax assets (net) | 8 | 66 |
| (j) Other non-current assets | 275 | 239 |
| Total Non-Current Assets | 48,648 | 58,976 |
| (a) Inventories | 1,482 | 1,646 |
| (b) Financial assets | ||
| (i) Trade receivables | 413 | 641 |
| (ii) Cash and cash equivalents | 1,814 | 4,913 |
| (iii) Bank balances other than cash and cash equivalents | 36 | |
| (iv) Other financial assets | 461 | 609 |
| (c) Income tax assets (net) | 7 | |
| (d) Other current assets | 561 | 680 |
| Total Current Assets | 4,738 | 8,524 |
| Total Assets | 53,386 | 67,500 |
*Includes rounding off adjustments
DEVYANI INTERNATIONAL LIMITED
Devyani International's Q4 & FY2026 Conference Call on Friday, May 15, 2026 at 2:30 PM IST
Devyani International Limited (DIL), among the largest QSR players in India, will host a conference call for investors and analysts on Friday, May 15, 2026 at 2:30 PM IST to discuss its results and developments for the period ended March 31, 2026. The results will be announced earlier the same day.
The senior management of the Company will be present to address the call.
| Timing | : | Friday, May 15, 2026 at 2:30 PM IST |
|---|---|---|
| Pre-Registration | : | To enable participants to connect to the conference call without having to wait for an operator, please register at the link below: |
| Conference Dial-In Primary Number | : | +91 22 6280 1141 / +91 22 7115 8042 |
About Us
dIL
Devyani International Limited is one of India's largest chain quick service restaurant (QSR) operators, with a network of over 2,500 stores across more than 350 cities in India, Thailand, Nigeria, and Nepal. The Company's portfolio represents a compelling blend of iconic global brands and successful homegrown concepts.
DIL holds the distinction of being the largest franchisee of Yum! Brands in India and Nepal. In addition, DIL is the sole franchisee in India for several international brands, including Costa Coffee, New York Fries, and Sanook Kitchen.
Complementing its global portfolio, DIL has developed strong indigenous brands such as Vaango, a South Indian vegetarian cuisine concept, and The Food Street, a food court format that brings multiple brands together under one roof to enhance consumer experience. DIL has also strengthened its Indian cuisine offerings through the acquisition of Sky Gate Hospitality, which owns popular brands such as Biryani By Kilo and Goila Butter Chicken.
Please visit www.dil-rjcorp.com for more information. You may also reach out to:
Manish Dawar / Rajiv Kumar
Devyani International Limited
+91 124 478 6000 / +91 88601 68600
[email protected]
[email protected]
Anoop Poojari / Jenny Rose
CDR India
+91 98330 90434 / +91 86899 72124
[email protected]
[email protected]
Safe Harbor
Certain statements that may be made or discussed at the conference call may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like significant changes in economic environment in India and overseas, tax laws, litigation, labour relations etc. Actual results might differ substantially from those expressed or implied. Devyani International will not be in any way responsible for any action taken based on such statements and discussions; and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
DEVYANI
INTERNATIONAL LIMITED
Thank You!
