Conference Call with Barbeque-Nation Hospitality Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Restaurant company Barbeque-Nation Hospitality announced Q1FY24 results: Revenue from operations of Rs 323.9 crore, QoQ growth of 15.6% Reported EBITDA stands at Rs 47.6 crore; EBITDA margin of 14.7% Dine-in to a delivery revenue mix of 85.1% and 14.6% respectively Barbeque Nation India dine-in / others revenue mix of 72.6% and 27.4% Opened 4 new restaurants taking the overall network to 212 restaurants Own Digital Assets Contribution of 25.6% Commenting on the business, Kayum Dhanani, Managing Director, said, “Our performance for the quarter was encouraging considering the prevailing demand softness across the industry. We recorded a robust sequential volume growth of 20% across both dine-in and delivery businesses. On the back of this strong volume growth, we reported a revenue of Rs 323.9 crore, a growth of 15.6% compared to Q4FY23. Our medium to long-term growth story remains intact and we are pursuing a very clearly defined strategy. Our focus will be on driving SSSG and profitability for the India dine-in business, scaling emerging verticals such as Toscano and international businesses, and driving penetration for UBQ and Dum Safar.” Commenting on the performance, Rahul Agrawal, CEO, and Whole Time Director, said, “We reported a strong sequential revenue growth of 15.6% with revenues of Rs 323.9 crore. This growth was driven by dine-in revenue growth of 14.5% and delivery revenue growth of 21.0% during the same period. Consolidated reported EBITDA for the period increased by 13.1% QoQ with a margin of 14.7%. Our primary focus during the quarter was to drive cover growth and all our efforts have yielded very encouraging results. We are confident of continuing the trend and gradually increasing our margins going forward. We are also focused on maintaining our market leadership position in the CDR segment in India through our four-pronged strategy of growing Barbeque Nation India dine-in business, scaling emerging verticals, growing delivery, and portfolio diversification.” Result PDF
Restaurant company Barbeque-Nation Hospitality announced FY23 results: Revenue from operations of Rs 1,233.8 crores, YoY growth of 43.4% Reported EBITDA stands at Rs 238.6 crore; EBITDA margin of 19.3% Reported Profit Before Tax (PBT) of Rs 25.7 crore Reported Profit After Tax (PAT) stood at Rs 19.1 crore Dine-in to delivery revenue mix of 86.4% and 13.4% respectively Opened 39 new restaurants in FY23 taking the overall network to 216 restaurants Cumulative Barbeque Nation App downloads of 5.7 million, a 34% increase over March 2022 Commenting on the business, Kayum Dhanani, Managing Director, said: “Our performance for the year was encouraging despite the prevailing demand softness across the industry. During the year, Barbeque Nation brand achieved the milestone of becoming the 1st Indian full-service CDR brand to reach Rs1,000+ crore revenues in a year. This achievement is a testament to the brand’s growth potential and we will strive to achieve many more such milestones in the future. Our relentless focus over the past years has resulted in creating multiple growth levers for the Company such as Toscano, international business, and delivery vertical. We believe the share of contribution for these businesses will further increase the overall revenue and profitability mix, which will further strengthen our position as a diversified food services company.” Commenting on the performance, Rahul Agrawal, CEO, and Whole Time Director, said: “As a market leader in the Indian Casual Dining Restaurant, we are proud to report that Barbeque Nation brand has crossed annual revenue of Rs1,000+ crores in FY23. We had an overall encouraging performance in FY23 with revenue growth of 43%, EBITDA growth of 49% and reported EBITDA margins of 19.3%. We continue to remain focused on enhancing guest experience through upgraded store designs, elevating culinary experience and service culture, thereby becoming the preferred destination for celebration. As a diversified Indian food services company, we will continue to invest in Barbeque Nation along with our other brands namely Toscano, UBQ and Dum Safar.” Result PDF
Conference Call with Barbeque-Nation Hospitality Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.