Devyani International Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹14,980 Cr
- ROE
- -1.56%
- Price to sales
- 2.57
- Debt to equity
- 2.49
- 52W high / low
- ₹168 / ₹94.6
- Sales growth (5Y)
- 37.67%
- EBITDA margin
- 15.38%
- Net profit margin
- -0.40%
- Promoter holding
- 61.36%
- Sales (last year)
- ₹5,835 Cr
Devyani International Limited (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.[1]
Guidance scorecard · Q1 FY27 call
What Devyani International Ltd's management guided
and where it ranks in Leisure Services
Leisure Services
RevenueQ1 FY27 call
10–20%- DIL targets continued positive Same Store Sales Growth (SSSG) with KFC aiming for 5%-6% SSSG over the next 1.5-2 years.
- Pizza Hut is working on a "back-to-basics" reset to improve Average Daily Sales (ADS), aiming for sustainable growth post-merger.
- Own brands like Biryani By Kilo (BBK) and Vaango are expected to grow strongly, with BBK aiming to become a INR 1,000 crore brand in the next few years.
- BBK is expanding into new formats such as dine-in and express outlets, indicating growth in volumes and revenues.
- The international business, including Thailand, continues strong growth (20%+ YoY) with potential for further geographic expansion.
2 more points from Devyani International Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Devyani International Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- No major increase in capex intensity expected despite a shift back towards dine-in formats.
- Store size optimization: incremental new store openings will focus on optimizing the balance between dine-in and delivery without significantly increasing store sizes or capex.
- Current store formats already have excess capacity to accommodate near-term dine-in growth without additional capital.
- Technology investment is a key focus area; a new Chief Technology Officer has been hired.
2 more points from Devyani International Ltd's call on capex
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FundraisingQ1 FY27 call
See what Devyani International Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Devyani International Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Leisure Services
on management's own guidance
- Jubilant Foodworks LtdGood growth2
- Landmark Global Learning LtdGood growth1
- Le Travenues Technology LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Leisure Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Landmark Global Learning Ltd | 20–40% | Up 2%+ | ₹21 Cr | — |
| 2 | Jubilant Foodworks Ltd | 20–40% | Flat | ₹27,579 Cr | 72.4 |
| 3 | Le Travenues Technology Ltd | 20–40% | Flat | ₹6,423 Cr | 54.1 |
| 4 | 20–40% | Flat | ₹6,285 Cr | 2553.3 | |
| 5 | 20–40% | Flat | ₹4,827 Cr | 20.4 | |
| 6 | 20–40% | Flat | ₹2,741 Cr | 215.1 |
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Pro shows every company guiding 40%+ revenue growth →Full Leisure Services rankingFinancials of Devyani International Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Devyani International Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 754.98 | 846.63 | 819.47 | 843.13 | 1,047.08 | 1,221.90 | 1,222.16 | 1,294.40 | 1,212.59 | 1,356.97 | 1,376.75 | 1,440.90 | 1,436.86 |
| Expenses + | 604.37 | 720.52 | 665.04 | 696.84 | 916.83 | 1,006.08 | 1,026.46 | 1,081.19 | 1,026.82 | 1,151.09 | 1,184.64 | 1,209.97 | 1,216.56 |
| Operating Profit | 150.61 | 126.11 | 154.43 | 146.29 | 130.25 | 215.82 | 195.70 | 213.21 | 185.77 | 205.88 | 192.11 | 230.93 | 220.30 |
| OPM % | 19.95% | 14.90% | 18.85% | 17.35% | 12.44% | 17.66% | 16.01% | 16.47% | 15.32% | 15.17% | 13.95% | 16.03% | 15.33% |
| Other Income + | 11.02 | 6.82 | -7.41 | 4.61 | 14.34 | 9.91 | 4.84 | 9.05 | 13.19 | 13.32 | 2.76 | -10.16 | 17.70 |
| Interest | 42.04 | 40.37 | 41.66 | 48.24 | 56.67 | 62.99 | 65.33 | 66.98 | 69.53 | 66.78 | 68.84 | 70.02 | 70.10 |
| Depreciation | 78.36 | 79.60 | 86.34 | 92.98 | 125.90 | 132.22 | 139.12 | 146.76 | 151.78 | 149.68 | 155.18 | 166.65 | 182.48 |
| Profit before tax | 41.23 | 12.96 | 19.02 | 9.68 | -37.98 | 30.52 | -3.91 | 8.52 | -22.35 | 2.74 | -29.15 | -15.90 | -14.58 |
| Tax % | -45.23% | 112.27% | -88.38% | 47.73% | 28.86% | 26.51% | 25.83% | 189.67% | -25.01% | 18.61% | -17.84% | -30.94% | -32.44% |
| Net Profit + | 59.88 | -1.59 | 35.82 | 5.07 | -48.96 | 22.43 | -4.92 | -7.64 | -16.77 | 2.23 | -23.95 | -10.98 | -9.84 |
| EPS in Rs | 0.50 | 0.10 | 0.28 | 0.08 | -0.06 | 0.25 | 0.00 | -0.00 | -0.12 | 0.03 | -0.18 | -0.08 | -0.08 |
Financials of Devyani International Ltd
Profit & Loss
Annual income statement trend
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,012 | 1,048 | 1,111 | 1,311 | 1,516 | 1,135 | 2,084 | 2,998 | 3,556 | 4,951 | 5,611 |
| Expenses + | 1,013 | 1,008 | 1,015 | 1,106 | 1,254 | 945 | 1,608 | 2,341 | 2,991 | 4,112 | 4,762 |
| Operating Profit | -1 | 39 | 96 | 205 | 262 | 189 | 476 | 657 | 565 | 839 | 849 |
| OPM % | -0% | 4% | 9% | 16% | 17% | 17% | 23% | 22% | 16% | 17% | 15% |
| Other Income + | -0 | 8 | 23 | 42 | 2 | 131 | -3 | 12 | 18 | 33 | 24 |
| Interest | 43 | 88 | 34 | 137 | 161 | 155 | 129 | 149 | 189 | 267 | 276 |
| Depreciation | 85 | 137 | 55 | 203 | 223 | 229 | 221 | 278 | 391 | 592 | 654 |
| Profit before tax | -129 | -178 | 30 | -93 | -120 | -64 | 123 | 242 | 4 | 13 | -57 |
| Tax % | 1% | 1% | -3% | 1% | 2% | -2% | -26% | -9% | 363% | 154% | -25% |
| Net Profit + | -130 | -180 | 31 | -94 | -121 | -63 | 155 | 263 | -10 | -7 | -43 |
| EPS in Rs | -11.98 | -11.31 | 4.33 | -7.46 | -11.46 | -0.48 | 1.30 | 2.20 | 0.39 | 0.08 | -0.31 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
Financials of Devyani International Ltd
Balance Sheet
Capital structure and asset base
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 106 | 106 | 106 | 106 | 106 | 115 | 120 | 120 | 121 | 121 | 123 |
| Reserves | 70 | -19 | 33 | -176 | -295 | -2 | 566 | 850 | 935 | 974 | 1,419 |
| Borrowings + | 348 | 306 | 371 | 488 | 1,832 | 1,336 | 1,254 | 1,565 | 2,906 | 3,188 | 3,833 |
| Other Liabilities + | 196 | 202 | 218 | 1,390 | 240 | 219 | 322 | 450 | 971 | 1,057 | 1,375 |
| Total Liabilities | 720 | 596 | 728 | 1,807 | 1,884 | 1,668 | 2,263 | 2,985 | 4,932 | 5,339 | 6,750 |
| Fixed Assets + | 491 | 406 | 445 | 1,578 | 1,635 | 1,392 | 1,756 | 2,427 | 4,216 | 4,622 | 5,686 |
| CWIP | 38 | 15 | 56 | 12 | 14 | 14 | 7 | 15 | 11 | 3 | 8 |
| Investments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 1 | 2 |
| Other Assets + | 192 | 174 | 226 | 218 | 235 | 262 | 500 | 543 | 705 | 712 | 1,054 |
| Total Assets | 720 | 596 | 728 | 1,807 | 1,884 | 1,668 | 2,263 | 2,985 | 4,932 | 5,339 | 6,750 |
Financials of Devyani International Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 90 | 91 | 278 | 301 | 240 | 451 | 637 | 766 | 900 | 919 | |
| Cash from Investing Activity + | -67 | -140 | -165 | -91 | -355 | -375 | -349 | -1,551 | -461 | -440 | |
| Cash from Financing Activity + | -32 | 56 | -130 | -223 | 142 | -58 | -283 | 889 | -425 | -197 | |
| Net Cash Flow | -9 | 7 | -18 | -13 | 27 | 17 | 5 | 105 | 14 | 282 | |
| Free Cash Flow | 21 | -49 | 137 | 202 | 107 | 158 | 213 | 305 | 418 | 478 | |
| CFO/OP | 232% | 99% | 136% | 115% | 126% | 97% | 104% | 140% | 107% | 108% |
Financials of Devyani International Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 5 | 6 | 6 | 6 | 4 | 5 | 4 | 4 | 5 | 3 | 4 |
| Inventory Days | 45 | 39 | 48 | 52 | 57 | 66 | 52 | 52 | 45 | 35 | 34 |
| Days Payable | 127 | 129 | 139 | 128 | 129 | 171 | 119 | 98 | 130 | 105 | 127 |
| Cash Conversion Cycle | -77 | -85 | -84 | -70 | -68 | -100 | -64 | -42 | -79 | -66 | -89 |
| Working Capital Days | -31 | -70 | -65 | -95 | -108 | -95 | -26 | -37 | -65 | -60 | -85 |
| ROCE % | -19% | 15% | 7% | 6% | 2% | 16% | 18% | 6% | 6% | 5% |
Guidance history
How Devyani International Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
22 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −27.5% | 27% |
| Last 6 months | −2.5% | 50% |
| Last 3 months | +2.6% | 68% |
The price is 45.3% below its all-time high of ₹222.45 (8 Sept 2023). Stocks more than 20% below their peak have their score halved, so 44 became 22.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Devyani International Ltd: 0.4 × 27 + 0.4 × 50 + 0.2 × 68 = 44, halved to 22 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Devyani International Ltd's management said in earlier quarters
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