Restaurant Brands Asia Limited has informed the Exchange about Investor and Analyst Call Transcript
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Restaurant Brands Asia reported Q4 FY26 with India SSSG of 6.3%, the highest in 12 quarters, driven by value offerings (2for79/99) and premium launches like Korean Kimchi. Gross margin reached 70% in Q4 (full year 69%), ahead of the previously guided FY29 target of 70%. Over 5 years, revenue grew 2.4x, restaurant count increased 80%, and restaurant EBITDA margins doubled to 11.6%. The India business is targeted to achieve free cash flow breakeven in 4–6 quarters (FY28). Indonesia's Burger King has turned EBITDA positive (IDR8bn full year) but Popeyes lost IDR25bn and remains a concern; new promoters from Inspira Global are expected to onboard shortly pending CCI approval. An INR120 crore impairment was taken on Indonesia assets. Management cited strong momentum but declined to share updated multi-year targets until the acquisition closes.
Strong India execution is driving margin expansion and cash flow improvement, but the Indonesia/Popeyes drag and pending promoter change add near-term uncertainty. The Inspira acquisition (awaiting CCI) could reshape the strategic direction.