Restaurant company Devyani International announced Q1FY23 results: Revenue higher by 100% YoY to Rs. 7,047 million EBITDA increases to Rs. 1,643 million PAT stood at Rs. 748 million Commenting on the performance for Q1 FY23 Mr. Ravi Jaipuria, Chairman, Devyani International Limited said, “We reached an important milestone of 1,000 stores this quarter. It took us 25 years to get to this important landmark. We believe this is just the beginning of our exciting journey and hope to cross many more such milestones in the coming years. We had a strong start to FY23, by way of adding 70 net new stores in the quarter, led by 27 stores in KFC, 23 stores in Pizza Hut and 14 stores in Costa Coffee. Our pan-India reach has expanded further, and we are now present in 215 cities. The non-metro store contribution within our Core Brands has gone up to 52% now. Our total system store count stood at 1,008 stores as of June 30, 2022. We ended Q1 FY 22-23 with growth across all our brands. As a result, we witnessed good recovery in overall sales in the quarter with strong traction in the dine-in channel. This helped us post consolidated revenues of Rs. 705 crore, nearly 2x the corresponding figure for the last year. KFC contributed Rs. 425 crore and Pizza Hut contributed Rs. 165 crore. On the economic front, we are seeing early signs of recovery in consumer sentiment. Sectors like FMCG & Retail are likely to report marginal volume growth over the next few quarters. While input prices have remained elevated, well-established businesses with scale have been able to navigate the same with some pricing initiatives and protect margins. This bodes well for organized players across industries.” Result PDF
Conference Call with Devyani International Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Restaurants firm Devyani International declares Q4FY22 result: FY22 (Consolidated): Revenue higher by 84% YoY to Rs. 20,840 mn EBITDA increases to Rs. 4,760 mn PAT stood at Rs. 1,551 mn Q4 FY22 (Consolidated): Revenue higher by 36% YoY to Rs. 5,907 mn EBITDA increases to Rs. 1,433 mn PAT stood at Rs. 759 mn FY 22 was a year of record performance for DIL, with our brands achieving significant milestones whereby KFC India crossed Rs. 1,000 Cr revenues & Pizza Hut clocked more than Rs. 500 Cr revenues this year. As on March 31, 2022, DIL operates 364 KFC stores, 413 Pizza Hut stores and 55 Costa Coffee stores in India. Including the own brands’ stores and international markets, total system stores stood at 938. Commenting on the performance for Q4 & FY22 Mr. Ravi Jaipuria, Chairman, Devyani International Limited said, “We ended the fiscal year on an encouraging note, registering healthy top-line performance, improved profitability, and enhanced store additions. In Q4 we maintained the pace of our store growth opening 54 net new stores taking the total system store count to 938. With this In FY 22 we have opened 246 net new stores. In fact, FY 21-22 has been a record year performance for DIL from the point of view of Store Openings, Revenues and Profitability. The strength of our brands and strong store expansion led our top-line higher by 84% YoY to Rs. 20,840 million. On the profitability front, EBITDA (Post INDAS) increased to 4,761 million, more than 2x on a Y-o-Y basis, translating to margins at 23%. DIL undertook calibrated price increases to mitigate the inflationary input pressures on its core brands. We plan to undertake judicious price hikes across our portfolio to efficiently absorb some of the cost pressures. We are pleased to share that we have launched several new products and innovative campaigns within our core brands during the quarter. KFC launched the 'KFC Bucket Canvas' campaign and released a unique product, the KFC Biryani Bucket. Pizza hut came out with their original San Francisco Thin crust pizza. All these new launches have reported good consumer acceptance and we look forward to upscaling this in the coming months. Costa Coffee, too, is set to launch a whole new range of drinks & refreshers for this summer season. Looking ahead, DIL has all the elements in place to capitalize on the fast-growing Indian QSR industry. Our comprehensive brand portfolio, improving market reach, solid financial discipline, and operational excellence, continue to hold us in good stead. Overall, we are on course to achieve our growth objectives and are confident of creating long-term sustainable value for all our stakeholders.” Result PDF