Any current/future capex/capital investment/strategic investment?

No significant changes in capex per store are planned; tech-related changes will be managed within existing budgets, including Yum! charges. Focus on digital transformation, automation, and AI to enhance operational execution and customer engagement without increasing capex. Development of own technology stack and apps is in progress with a tech partner, building in-house technology capabilities. Expansion plans include opening approximately 200-225 new stores in FY27, with KFC contributing 100-110 stores; other brands include Costa Coffee, Biryani By Kilo, and international. Strategy involves

Future growth expectations in sales/revenue/volumes?

The company expects to add approximately 200 to 225 net new stores in FY27 (calendar year 2026). Around 100 to 110 of these new stores will be KFC outlets, with the remainder from Costa Coffee, Biryani By Kilo, and international businesses. The proposed merger with Sapphire Foods aims to create one of the largest QSR platforms globally, unlocking synergies and accelerating growth. KFC showed strong momentum with a 4.9% positive same-store sales growth (SSSG) in Q4, supporting confidence in continued growth. Biryani By Kilo has turned profitable, with plans to expand offline Express for

Future growth expectations in earnings/operating earnings/profits/EPS?

Devyani International Limited expects growth in FY27 with plans to add approximately 200-225 net new stores, led by KFC (100-110 stores), Costa Coffee, Vaango, and Biryani By Kilo. KFC showed strong momentum with a 4.9% positive same-store sales growth (SSSG) in Q4 and 15% YoY revenue growth, indicating an improving brand trajectory. Biryani By Kilo has turned profitable and is expanding through express outlets, signaling growth potential. Focus on operational efficiency, disciplined expansion, and digital transformation aims to strengthen profitability and margins. International business is g

Current/ Expected Orderbook/ Pending Orders?

The transcript does not explicitly mention current or expected orderbook or pending orders figures. Store expansion plans indicate adding approximately 200 to 225 net new stores in FY27. KFC is expected to contribute 100 to 110 of these new stores. The balance of new stores will come from Costa Coffee, Biryani By Kilo, and international businesses. Focus on store quality over quantity, with some loss-making stores closed to improve portfolio quality. No specific monetary orderbook or pending orders data is provided in the transcript.

Any current/future new fundraising through debt or equity?

There was a temporary debt raised for equity infusion in Thailand. This debt has already been squared off by the second week of April. No mention of any current or future new fundraising through debt or equity. The company appears focused on managing within existing budgets, including tech investments. Any further details on financing would be shared offline if needed.

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Devyani International LtdQ1 FY26Leisure Services

Devyani International Ltd Q1 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹116Market Cap: ₹14.6K CrSector: Leisure Services

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

→The company expects to add approximately 200 to 225 net new stores in FY27 (calendar year 2026).
→Around 100 to 110 of these new stores will be KFC outlets, with the remainder from Costa Coffee, Biryani By Kilo, and international businesses.
→The proposed merger with Sapphire Foods aims to create one of the largest QSR platforms globally, unlocking synergies and accelerating growth.
→KFC showed strong momentum with a 4.9% positive same-store sales growth (SSSG) in Q4, supporting confidence in continued growth.
→Biryani By Kilo has turned profitable, with plans to expand offline Express formats, indicating growth potential.
→The company is bullish on travel segment growth via food courts in highways and malls.
→Digital transformation, automation, and AI integration are core pillars expected to enhance operational efficiency and scale growth.
→Overall, the focus is on disciplined expansion, profitability, and deeper consumer engagement for sustainable growth.

Margin guidance

Category 3

→Devyani International Limited expects growth in FY27 with plans to add approximately 200-225 net new stores, led by KFC (100-110 stores), Costa Coffee, Vaango, and Biryani By Kilo.
→KFC showed strong momentum with a 4.9% positive same-store sales growth (SSSG) in Q4 and 15% YoY revenue growth, indicating an improving brand trajectory.
→Biryani By Kilo has turned profitable and is expanding through express outlets, signaling growth potential.
→Focus on operational efficiency, disciplined expansion, and digital transformation aims to strengthen profitability and margins.
→International business is growing steadily, contributing to overall portfolio expansion and revenue growth.
→The proposed merger with Sapphire Foods is expected to unlock synergies, enhancing operational capabilities and accelerating earnings growth.
→Management remains cautiously optimistic but confident in sustaining improvements amid macroeconomic uncertainties.

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Fundraise plans

→There was a temporary debt raised for equity infusion in Thailand.
→This debt has already been squared off by the second week of April.
→No mention of any current or future new fundraising through debt or equity.
→The company appears focused on managing within existing budgets, including tech investments.
→Any further details on financing would be shared offline if needed.

Order book

→The transcript does not explicitly mention current or expected orderbook or pending orders figures.
→Store expansion plans indicate adding approximately 200 to 225 net new stores in FY27.
→KFC is expected to contribute 100 to 110 of these new stores.
→The balance of new stores will come from Costa Coffee, Biryani By Kilo, and international businesses.
→Focus on store quality over quantity, with some loss-making stores closed to improve portfolio quality.
→No specific monetary orderbook or pending orders data is provided in the transcript.

Capex plans

Yes

→No significant changes in capex per store are planned; tech-related changes will be managed within existing budgets, including Yum! charges.
→Focus on digital transformation, automation, and AI to enhance operational execution and customer engagement without increasing capex.
→Development of own technology stack and apps is in progress with a tech partner, building in-house technology capabilities.
→Expansion plans include opening approximately 200-225 new stores in FY27, with KFC contributing 100-110 stores; other brands include Costa Coffee, Biryani By Kilo, and international.
→Strategy involves consolidating portfolios by closing loss-making/nonprofitable stores and opening higher-quality locations.
→Merger with Sapphire Foods expected to create scale and operational efficiencies, unlocking synergies for future growth.
→Technological initiatives aim to utilize current infrastructure better, leveraging AI overlays rather than large capital investment.

How does Devyani International Ltd rank vs peers in Leisure Services?

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1Devyani International Ltd

Rev 3Mar 3

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