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Revenue
₹1,437 Cr
verified against source
Revenue YoY
18.5%
reported change
EBITDA
₹123 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Devyani International reported a strong Q4 FY26 with consolidated revenue of INR 437 crores, up 18.5% YoY, driven by KFC's best performance in 14 quarters with 4.9% SSSG and nearly 15% revenue growth. EBITDA came in at INR 123 crores (8.6% margin), growing 13.8% YoY. The turnaround was led by a strategic shift to dine-in promotions, reducing online discounts, and stable raw material costs. International business crossed INR 500 crores for the first time, growing 20% YoY. Management guided for 200-225 net new stores in FY27, with KFC contributing 100-110. The proposed merger with Sapphire Foods remains on track for completion by end of FY27. Key risk: Pizza Hut continues to struggle with negative SSSG (-3.7%) and negative brand contribution, and the gas crisis remains an issue in some regions.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to add 200-225 net new stores in FY27, with KFC contributing 100-110 stores and the balance from Costa Coffee, Biryani by Kilo, and international businesses.
- The proposed merger is progressing as per plan, with filings completed and CCI application expected shortly. Completion is targeted by end of the current fiscal year.
- Management indicated that the first 45 days of the current quarter show SSSG trends in line with Q4, and they are confident of maintaining the momentum barring macro shocks.
Risks flagged
- Pizza Hut reported negative SSSG of -3.7% and slightly negative brand contribution due to operating leverage. Management is focusing on back-to-basics but turnaround may take time.
- The gas crisis due to the Middle East war continues to affect some parts of the country. While managed effectively so far, it remains an operational risk.
- Costa Coffee's gross margins declined 1.2% YoY due to high input costs. If commodity prices remain elevated, margin pressure could persist.
- Management acknowledged that external factors like geopolitical tensions and inflation are beyond their control and could impact demand sustainability.
Key quotes
- KFC delivered its strongest performance in the last 14 quarters, posting 4.9% positive SSSG and nearly 15% year-on-year growth during the quarter.
- We need to give a reason to the consumer to come into the store... if you give a reason to the consumer to come into the store they will come into the store.
- We are going back to basics as far as Pizza Hut is concerned in terms of identifying the gaps on the portfolio from a product point of view, identifying the pricing layers which are kind of missing in our portfolio.
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