Restaurant Brands Asia Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹6,570 Cr
- ROE
- -22.72%
- Price to sales
- 2.24
- Debt to equity
- 2.73
- 52W high / low
- ₹106 / ₹57.3
- Sales growth (5Y)
- 22.97%
- EBITDA margin
- 12.07%
- Net profit margin
- -7.16%
- Promoter holding
- 9.22%
- Sales (last year)
- ₹2,948 Cr
Burger King India Ltd is an international QSR chain in India. It started operations in 2014 and has established ~681 restaurants across major cities in India & Indonesia. The company is an Exclusive National Master Franchisee of Burger King in India and its subsidiaries are Exclusive National Master Franchisee of the brands Burger King and Popeyes in Indonesia[1]
Guidance scorecard · Q2 FY27 call
What Restaurant Brands Asia Ltd's management guided
and where it ranks in Leisure Services
Leisure Services
RevenueQ1 FY27 call
10–20%- The company experienced strong momentum with 12.6% same-store sales growth (SSSG) in the recent quarter, highest in 15 quarters.
- QSR industry sales, previously muted, are now positive, indicating favorable market conditions.
- Management is optimistic about continuing strong SSSG given the right promotions and strategies.
- Expansion plans include adding around 80 restaurants annually in India.
- Growth is expected to be driven by traffic increases rather than price hikes.
- Indonesia business is focusing on improving volume through new value strategies and marketing support.
2 more points from Restaurant Brands Asia Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Restaurant Brands Asia Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- No new restaurant builds planned in Indonesia this year; focus is on optimizing existing stores.
- Burger King Indonesia is improving with positive restaurant-level EBITDA; capital outlay limited to efficiency improvements.
- Possible investment in a new broiler in Indonesia to drive energy efficiencies, with payback of about a year seen in India.
- Marketing support of USD 9 million committed by RBI (franchisor) over the next 3 years for Indonesian market.
- Discussions ongoing for strategic capital allocation following new promoters' acquisition, with a focus on growth, efficiency, and backward integration (e.g., solar farms).
2 more points from Restaurant Brands Asia Ltd's call on capex
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FundraisingQ1 FY27 call
See what Restaurant Brands Asia Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Restaurant Brands Asia 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 rankingRestaurant Brands Asia Ltd announcements
All announcements →- Acquisition / mergerMajor developmentRestaurant Brands Asia approves Sept 2026 results; PT Sari Burger OCPS investment
Financials of Restaurant Brands Asia Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Restaurant Brands Asia Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 15.39% | 15.39% | 15.33% | 13.17% | 13.16% | 11.27% | 11.27% | 11.27% | 11.26% | 11.26% | 9.22% | 41.73% |
| FIIs + | 26.90% | 24.86% | 18.78% | 17.53% | 15.34% | 20.37% | 20.52% | 20.64% | 16.82% | 10.59% | 9.25% | 8.40% |
| DIIs + | 23.67% | 23.15% | 28.37% | 37.75% | 38.84% | 40.45% | 39.97% | 40.07% | 37.26% | 45.60% | 39.62% | 26.69% |
| Public + | 34.04% | 36.61% | 37.51% | 31.55% | 32.66% | 27.93% | 28.22% | 28.01% | 34.67% | 32.54% | 41.92% | 23.18% |
| No. of Shareholders | 2,39,542 | 2,36,346 | 2,28,755 | 2,24,862 | 2,30,770 | 2,27,465 | 2,27,707 | 2,28,635 | 2,50,734 | 2,47,516 | 2,44,301 | 2,63,977 |
Financials of Restaurant Brands Asia Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 611 | 625 | 604 | 597 | 647 | 632 | 639 | 633 | 698 | 703 | 715 | 707 | 823 |
| Expenses + | 562 | 569 | 536 | 528 | 584 | 569 | 570 | 559 | 625 | 632 | 625 | 612 | 722 |
| Operating Profit | 48 | 56 | 68 | 69 | 63 | 63 | 70 | 73 | 73 | 71 | 90 | 95 | 100 |
| OPM % | 8% | 9% | 11% | 12% | 10% | 10% | 11% | 12% | 10% | 10% | 13% | 13% | 12% |
| Other Income + | 7 | 3 | 4 | 5 | 14 | 0 | 9 | 8 | 22 | 8 | 8 | 8 | 20 |
| Interest | 31 | 32 | 32 | 47 | 37 | 38 | 40 | 46 | 47 | 46 | 47 | 50 | 49 |
| Depreciation | 79 | 79 | 80 | 119 | 92 | 91 | 93 | 96 | 93 | 97 | 98 | 101 | 104 |
| Profit before tax | -54 | -51 | -40 | -92 | -52 | -65 | -55 | -60 | -45 | -63 | -48 | -47 | -33 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit + | -54 | -51 | -40 | -92 | -52 | -65 | -55 | -60 | -45 | -63 | -48 | -47 | -33 |
| EPS in Rs | -1.02 | -0.93 | -0.73 | -1.72 | -0.99 | -1.21 | -1.01 | -0.97 | -0.72 | -1.01 | -0.75 | -0.74 | -0.40 |
Financials of Restaurant Brands Asia Ltd
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales + | 1,004 | 1,490 | 2,054 | 2,437 | 2,551 | 2,823 | 2,948 |
| Expenses + | 979 | 1,394 | 1,943 | 2,195 | 2,282 | 2,494 | 2,592 |
| Operating Profit | 25 | 97 | 112 | 242 | 268 | 328 | 356 |
| OPM % | 2.5% | 6% | 5% | 10% | 11% | 12% | 12% |
| Other Income + | 26 | -3 | 36 | 18 | 31 | 46 | 44 |
| Interest | 104 | 95 | 105 | 141 | 161 | 189 | 192 |
| Depreciation | 229 | 234 | 284 | 356 | 371 | 389 | 400 |
| Profit before tax | -282 | -235 | -242 | -237 | -233 | -204 | -192 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | |
| Net Profit + | -282 | -235 | -242 | -237 | -233 | -204 | -192 |
| EPS in Rs | -6.42 | -3.98 | -4.47 | -4.39 | -3.71 | -3.21 | -2.90 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Restaurant Brands Asia Ltd
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 383 | 493 | 495 | 496 | 582 | 583 |
| Reserves | -298 | 548 | 331 | 130 | 326 | 138 |
| Borrowings + | 901 | 887 | 1,168 | 1,430 | 1,832 | 1,967 |
| Other Liabilities + | 977 | 455 | 500 | 652 | 722 | 694 |
| Total Liabilities | 1,963 | 2,382 | 2,493 | 2,709 | 3,463 | 3,382 |
| Fixed Assets + | 1,391 | 1,514 | 1,953 | 2,320 | 2,603 | 2,801 |
| CWIP | 47 | 18 | 35 | 49 | 34 | 41 |
| Investments | 124 | 402 | 147 | 83 | 24 | 138 |
| Other Assets + | 401 | 448 | 358 | 256 | 802 | 402 |
| Total Assets | 1,963 | 2,382 | 2,493 | 2,709 | 3,463 | 3,382 |
Financials of Restaurant Brands Asia Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 48 | 69 | 124 | 346 | 350 | 303 |
| Cash from Investing Activity + | -322 | -1,083 | 16 | -219 | -232 | -486 |
| Cash from Financing Activity + | 357 | 1,112 | -170 | -251 | 385 | -321 |
| Net Cash Flow | 82 | 99 | -30 | -124 | 503 | -504 |
| Free Cash Flow | -20 | -69 | -228 | 64 | 73 | -70 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 201% | 77% | 114% | 143% | 127% | 93% |
Financials of Restaurant Brands Asia Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 3 | 3 | 3 | 4 | 5 | 6 |
| Inventory Days | 18 | 15 | 16 | 14 | 18 | 15 |
| Days Payable | 226 | 172 | 133 | 119 | 155 | 132 |
| Cash Conversion Cycle | -205 | -153 | -114 | -101 | -133 | -111 |
| Working Capital Days | -352 | -107 | -89 | -81 | -93 | -75 |
| ROCE % | -8% | -7% | -5% | -3% | -0% |
Guidance history
How Restaurant Brands Asia 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 | Planned | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | Planned | — |
| Q2 FY26 call → | 10–20% | Up 0–2% | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
42 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +29.8% | 78% |
| Last 6 months | +41.1% | 86% |
| Last 3 months | +37.6% | 94% |
The price is 49% below its all-time high of ₹180.9 (24 Dec 2020). Stocks more than 20% below their peak have their score halved, so 84 became 42.
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 Restaurant Brands Asia Ltd: 0.4 × 78 + 0.4 × 86 + 0.2 × 94 = 84, halved to 42 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.
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