Devyani International Ltd
Devyani International Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
The company expects growth driven by a strong store expansion plan, with about 100 net new stores targeted in the current financial year across franchisee and owned brands, requiring capex of around INR 50 crore. The company is focused on sustainable and profitable growth leveraging strong brands, portfolio expansion, and operational excellence.
From Devyani International Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- The company expects growth driven by a strong store expansion plan, with about 100 net new stores targeted in the current financial year across franchisee and owned brands, requiring capex of around INR 50 crore.
- International business, especially Thailand, continues to demonstrate resilience with 14% YoY revenue growth in Q2 FY26 and plans to open ~20-21 KFC stores this year.
- Demand environment remains muted but some improvement was noticed post-Dussehra; the optimistic outlook hinges on sustaining this momentum.
- Ongoing efforts to expand newer brands like Biryani By Kilo and Tealive with successful test launches and planned wider rollout.
- Focus on balancing promotional efforts and innovation such as value-tier offers to drive transaction growth despite a cautious consumer sentiment.
- Expectation of GST 2.0 benefits to modestly boost consumption due to input cost savings passed on to consumers.
- Brand contribution breakeven targets for loss-making units (e.g., Sky Gate by March 2026) to support overall margin improvement.
Profitability & Margins
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Capital Expenditure Plans
- The company plans to add about 100 net new stores in the current financial year across franchise and owned brands, including test phase expansions of Biryani By Kilo and Vaango.
- The capex for these 100 stores is estimated to be around INR 50 crore and is expected to be small per store.
- In Thailand, store expansion is targeted at about 20-21 KFC stores this year with possible optimization next year due to negative same-store sales growth (SSSG).
- The company is also testing Tealive in Thailand with three stores; future expansion depends on test results and may require cash investment.
- Sky Gate, consolidated into the portfolio, is expected to achieve breakeven brand contribution by March 2026; post that, focus on margin improvement may involve investments.
- There is no explicit mention of large strategic capital investments beyond store expansion and brand testing in the transcript.
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Fundraising & Capital Structure
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Order Book & Pipeline
Devyani International Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.4K Cr, net loss ₹10 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Devyani International Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Devyani International Ltd Q2 FY26 results?
The company expects growth driven by a strong store expansion plan, with about 100 net new stores targeted in the current financial year across franchisee and owned brands, requiring capex of around INR 50 crore. The company is focused on sustainable and profitable growth leveraging strong brands, portfolio expansion, and operational excellence.
What is Devyani International Ltd share price analysis?
Devyani International Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹15,423 Cr. Investors should review the full earnings analysis for detailed insights.
Is Devyani International Ltd planning capital expenditure?
The company plans to add about 100 net new stores in the current financial year across franchise and owned brands, including test phase expansions of Biryani By Kilo and Vaango.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.