Devyani International Ltd Share Price – NSE /  BSE

Quick Service Restaurant, Small Cap

Revenue from operations increased 18.49% year-on-year to Rs 1,436.9 crore in the quarter ended March 2026.

Loss before tax stood at Rs 18.09 crore as against Rs 22.3 crore reported in the same period last year.

EBITDA added 14.24% YoY to Rs 229.5 crore, while the EBITDA margin slipped to 16% from 16.6% in Q4 FY25.

Total expenses increased 20.53% year-on-year (YoY) to Rs 759.1 crore in Q4 FY26. The cost of materials consumed were at Rs 448.29 crore (up 17.38% YoY), employee benefits expenses was at Rs 209.3 crore (up 22.68% YoY), and other expenses stood at Rs 549.80 crore (up 19.72% YoY).

The company continued its strong expansion momentum in Q4FY26, taking its total store count to 2,256 as of 31 March 2026, after adding 217 net new stores during the year. Despite challenges arising from the LPG issue, operations remained resilient, with the impact being effectively managed.

The company reported Q4 revenues of Rs 1,436.9 crore, reflecting an 18.5% year-on-year growth. KFC India contributed Rs 585.5 crore, up 14.6% YoY, while the own brands segment posted Rs 91.1 crore, registering an 11.5% increase on a like-for-like basis. Pizza Hut India reported revenue of Rs 169.2 crore, down 3.5% YoY, whereas the international business delivered strong growth of 20% YoY to Rs 503.3 crore.

In Q4 FY26, the company delivered a strong performance despite a seasonally soft quarter, with robust same-store sales growth across key brands. KFC India posted SSSG of +4.9%, its highest in the last 14 quarters, while BBK recorded +3.2% SSSG, with Vaango and Costa also continuing their positive SSSG trajectory. International operations remained stable with sustained positive SSSG momentum and continued improvement in brand contribution margins on both a year-on-year and sequential basis. The company?s growth strategy remained focused on disruptive value offerings, including combo and meal formats designed to enhance customer value while improving average order value, while also advancing expansion plans with BBK Express currently under pilot testing following the successful turnaround of BBK.

Ravi Jaipuria, Non-Executive Chairman, DevyaniInternational, said, ?the year has been a defining one for Devyani International, marked by a challenging operating environment alongside transformational steps that strengthen the company?s long-term growth trajectory. The proposed merger with Sapphire Foods represents a strategic combination of two scaled and complementary platforms, and upon completion, the merged entity is expected to emerge as one of the largest QSR players globally as well as one of the largest partners of Yum. The merger is expected to unlock meaningful synergies, enhance execution capabilities, and create a more agile organization with a diversified brand portfolio and expanded geographic reach.

During the year, the company also advanced leadership transition initiatives under the guidance of its new CEO, Manish, with a strengthened management team being put in place. The focus remains on bringing in experienced, forward-looking professionals with strong operational and strategic capabilities, while leveraging technology, automation, and data-led decision-making to drive efficiency, scalability, and improved customer experience.

Demand conditions during the quarter remained broadly stable, supported by policy stimulus and GST rationalization, while consumption trends across adjacent categories indicated resilience. In this environment, KFC delivered its strongest performance in the last 14 quarters, posting 4.9% SSSG and nearly 15% year-on-year growth, continuing to anchor the company?s overall growth momentum. Other brands also maintained positive SSSG trends, while the store network expanded in a calibrated manner to reach 2,256 stores globally by year-end.

Throughout the year, the company maintained disciplined execution with a focus on protecting unit economics, driving operational efficiencies, and ensuring financial prudence. Marketing initiatives remained centered on enhancing value perception and improving accessibility, which helped improve daily sales trends and sequential recovery in performance.

Looking ahead, the company remains optimistic about demand recovery and continues to focus on disciplined expansion, profitability improvement, and deeper consumer engagement through innovation and digital initiatives. With the merger progressing, leadership capabilities strengthening, and demand indicators showing early recovery, the company believes it is well positioned to enter its next phase of growth from a position of strength.?

Devyani International (DIL) is the largest franchisee of Yum Brands in India and is among the largest operators of chain quick service restaurants (QSR) in India. In addition, DIL is a franchisee for the Costa Coffee brand and stores in India.

Shares of Devyani International rose 0.68% to Rs 118.11 on the BSE.

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Net Loss of Devyani International reported to Rs 10.04 crore in the quarter ended March 2026 as against net loss of Rs 14.74 crore during the previous quarter ended March 2025. Sales rose 18.50% to Rs 1436.86 crore in the quarter ended March 2026 as against Rs 1212.59 crore during the previous quarter ended March 2025.

For the full year,net loss reported to Rs 38.63 crore in the year ended March 2026 as against net profit of Rs 9.15 crore during the previous year ended March 2025. Sales rose 13.34% to Rs 5611.48 crore in the year ended March 2026 as against Rs 4951.05 crore during the previous year ended March 2025.

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Devyani International will hold a meeting of the Board of Directors of the Company on 15 May 2026.

The resignation will be effective from the close of business hours on 28 February 2026, the company said in a regulatory filing.

Devyani International (DIL) is the largest franchisee of Yum Brands in India and one of the country?s leading quick service restaurant (QSR) operators. The company also operates Costa Coffee outlets across India under a franchise agreement.

The company reported a net loss of Rs 10.98 crore in Q3 FY26, compared with a net loss of Rs 7.65 crore in Q3 FY25. Revenue from operations, however, rose 11.3% year-on-year to Rs 1,440.90 crore during the quarter.

The counter shed 0.26% to Rs 117.20 on the BSE.

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