Investor Presentation
DEVYANI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Devyani International reported Q4 FY26 revenue of INR 14,369 million, up 18.5% YoY, with a global store network of 2,256 stores (added 217 net new stores in FY26). Gross margin remained stable at 68.8%, while brand contribution was 14.1%. EBITDA margin declined to 16% from 16.6% YoY. KFC India delivered its strongest performance in 14 quarters with +4.9% SSSG. The company announced a proposed merger with Sapphire Foods to create one of the largest QSR platforms globally and largest Yum partners. New CEO Manish Dawar is building a new management team focused on technology, automation, and data-led decision making. India revenue was INR 9,459 million (+18.1% YoY) and International revenue was INR 5,033 million (+20% YoY).
The proposed merger with Sapphire Foods is a major strategic development that could reshape the competitive landscape of India's QSR sector. However, declining EBITDA margins and continued losses (PBT negative at INR 181 million in Q4) may concern short-term investors despite strong revenue growth and improving store-level metrics.