Devyani International Ltd Share Price – NSE  / BSE

Quick Service Restaurant, Small Cap

Net profit of Devyani International declined 99.94% to Rs 0.02 crore in the quarter ended September 2024 as against Rs 33.35 crore during the previous quarter ended September 2023. Sales rose 49.14% to Rs 1222.16 crore in the quarter ended September 2024 as against Rs 819.47 crore during the previous quarter ended September 2023.

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Revenue from operations was at Rs 1,222.2 crore in the second quarter of FY25, marking a growth of 49.14% as against Rs 819.47 crore posted in Q2 FY24.

The firm reported pre tax loss of Rs 3.91 crore in Q2 FY25 as against profit before tax of Rs 19.01 crore posted in corresponding quarter previous fiscal.

Total expenses jumped 55.21% year on year to Rs 1,230.9 crore in Q2 FY25. Material cost was at Rs 373.63 crore (up 56.83% YoY) and employee benefits expense stood at Rs 183.42 crore (up 65.34% YoY) during the quarter.

Consolidated EBITDA was at Rs 198.70 crore in the second quarter of FY25, up 25.12% as against Rs 158.80 crore posted in Q2 FY24. EBITDA margin reduced to 16.3% in Q2 FY25 as against 19.4% posted in Q2 FY24.

Devyani International said that it has opened 85 net new stores, taking the total store count to 1,921 as of 30 September 2024 – on track to achieve the guidance of 2,000 stores in FY25.

Meanwhlie, the company announced that it has secured Exclusive Master Franchise rights for three modern QSR brands: TeaLive, New York Fries and SANOOK KITCHEN. Each partnership is unique and shall help DIL to achieve its growth strategy.

Ravi Jaipuria, Non-Executive Chairman, Devyani International said, “We are happy to welcome new brands to DIL family, catering to youth categories such as handcrafted tea, fresh cut fries and authentic Thai & Asian cuisine. The new partnerships reflect our commitment to bringing diverse, high-quality contemporary food & beverages brands to our customers, while driving sustainable growth for DIL.

With exclusive rights for these brands in India, DIL is consolidating its strategy of ‘FOOD ON THE GO’ and ‘HOUSE OF BRANDS’. We remain committed to our investments across DIL’s brand portfolio to broaden our reach, engage target consumers, and seize growth opportunities across the country. While we recognize the current subdued environment in the QSR industry, we are confident that the current headwinds are transient in nature. As firm believers in India’s growth story, we are wellpositioned to capitalize on future opportunities and delivering value to all our stakeholders.”

Devyani International (DIL), among the fastest growing Chain Quick Service Restaurant (QSR) operators in the country, is the largest franchisee for Yum Brands (KFC & Pizza Hut) in India. The Company is also the sole franchisee for Costa Coffee Brand and stores in India. In addition, DIL caters to the South Indian vegetarian food lovers with Vaango, launched over a decade ago and is a prominent Brand in the Food Retail Business (FRB) category with its Food Courts. DIL has a strong presence across Airports in India where it serves a variety of F&B offerings.

The scrip advanced 4.57% to currently trade at Rs 178.55 on the BSE.

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Devyani International will hold a meeting of the Board of Directors of the Company on 11 November 2024.

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Revenue from operations increased by 44% year-over-year to Rs 1,221.9 crore in the June’24 quarter.

Total expenses rose by 46% to Rs 621.6 crore in Q1 FY25 as compared with Q1 FY24, due to higher raw material cost (up 53% YoY), higher employee benefits expense (up 50% YoY) and higher other expenses (up 44% YoY).

While EBITDA improved by 29% to Rs 223.4 crore, EBITDA margin declined by 220 basis points to 18.3% in Q1 FY25 as compared with the same period last year.

Profit before tax in Q1 FY25 stood at Rs 30.5 crore, which is significantly higher as compared with the PBT of Rs 13 crore posted in Q1 FY24.

Devyani International said that it has opened 54 net new stores, taking the total store count to 1,836. It expects to open 250 – 275 new stores in FY25.

Ravi Jaipuria, non-executive chairman, Devyani International, said: “We witnessed an improved performance for DIL in Q1, driven by seasonality and cost leverage from better ADS across our businesses. Our Thailand business also demonstrates growth with new store openings and a customer delight strategy.

We remain committed to expanding our store footprint and making our brands more accessible to our consumers. As announced earlier, we are on track to achieve a total store count of 2,000 stores within the current financial year.

We are also focused on enhancing various institutional businesses, including food courts and airport presence. We are delighted with the positive progress in Q1 and shall continue to be relentless in our plans for the upcoming quarters.”

Devyani International (DIL), among the fastest growing Chain Quick Service Restaurant (QSR) operators in the country, is the largest franchisee for Yum Brands (KFC & Pizza Hut) in India. The Company is also the sole franchisee for Costa Coffee Brand and stores in India. In addition, DIL caters to the South Indian vegetarian food lovers with Vaango, launched over a decade ago and is a prominent Brand in the Food Retail Business (FRB) category with its Food Courts. DIL has a strong presence across Airports in India where it serves a variety of F&B offerings.

The scrip fell 2.89% to currently trade at Rs 173 on the BSE.

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