WEBSITE BSE:543330 NSE : DEVYANI 10 May, 16:01
Market Cap ₹19442 Cr.
Stock P/E 168.3
P/B 18.7
Current Price ₹161.2
Book Value ₹ 8.6
Face Value 1
52W High ₹227.8
Dividend Yield 0%
52W Low ₹ 142.3
Devyani International Limited operates a series of franchised short carrier restaurants in India, Nepal, and Nigeria. The enterprise's Core Brands Business consist of KFC, Pizza Hut, and Costa Coffee shops operated in India; International Business include KFC and Pizza Hut shops operated in Nepal and Nigeria; and Other Business consists of its personal brands, together with Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Ckrussh Juice Bar. As of March 31, 2021, its Core Brands Business operated 605 stores, inclusive of g 264 KFC shops, 297 Pizza Hut shops, and 44 Costa Coffee shops; International Business operated 35 stores comprising 32 KFC shops and 3 Pizza Hut stores; and Other Business operated 50 stores. The agency was incorporated in 1991 and is based in Gurugram, India. Devyani International Ltd operates as a subsidiary of RJ Corp Ltd.
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| #(Fig in Cr.) | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 516 | 624 | 591 | 705 | 747 | 791 | 755 | 847 | 819 | 843 |
| Other Income | 5 | 4 | 2 | 9 | 5 | 8 | 11 | 7 | 7 | 5 |
| Total Income | 521 | 628 | 593 | 714 | 752 | 799 | 766 | 853 | 826 | 848 |
| Total Expenditure | 388 | 477 | 451 | 540 | 581 | 617 | 604 | 673 | 665 | 697 |
| Operating Profit | 133 | 152 | 142 | 174 | 171 | 182 | 162 | 180 | 161 | 151 |
| Interest | 33 | 30 | 32 | 33 | 35 | 38 | 42 | 40 | 42 | 48 |
| Depreciation | 53 | 56 | 65 | 64 | 66 | 71 | 78 | 80 | 86 | 93 |
| Exceptional Income / Expenses | -1 | 1 | -3 | 0 | -11 | -9 | 0 | -47 | -14 | 0 |
| Profit Before Tax | 47 | 67 | 42 | 77 | 59 | 65 | 41 | 13 | 19 | 10 |
| Provision for Tax | 1 | 1 | -33 | 2 | 2 | -6 | -19 | 15 | -17 | 5 |
| Profit After Tax | 47 | 66 | 76 | 75 | 57 | 71 | 60 | -2 | 36 | 5 |
| Adjustments | -1 | -3 | 0 | -1 | 2 | 1 | 1 | 13 | -2 | 5 |
| Profit After Adjustments | 46 | 63 | 76 | 74 | 59 | 72 | 61 | 12 | 33 | 10 |
| Adjusted Earnings Per Share | 0.4 | 0.5 | 0.6 | 0.6 | 0.5 | 0.6 | 0.5 | 0.1 | 0.3 | 0.1 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1012 | 1047 | 1111 | 1357 | 1516 | 1135 | 2084 | 2998 | 3264 |
| Other Income | 2 | 9 | 25 | 9 | 24 | 64 | 23 | 35 | 30 |
| Total Income | 1015 | 1056 | 1136 | 1365 | 1541 | 1199 | 2107 | 3033 | 3293 |
| Total Expenditure | 1011 | 1004 | 1015 | 1308 | 1268 | 946 | 1617 | 2343 | 2639 |
| Operating Profit | 3 | 52 | 121 | 58 | 273 | 252 | 490 | 690 | 654 |
| Interest | 47 | 94 | 34 | 40 | 161 | 151 | 129 | 149 | 172 |
| Depreciation | 85 | 137 | 55 | 83 | 223 | 229 | 221 | 279 | 337 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 35 | 46 | -17 | -20 | -61 |
| Profit Before Tax | -129 | -178 | 30 | -65 | -77 | -82 | 123 | 242 | 83 |
| Provision for Tax | 1 | 1 | -1 | 1 | 2 | -1 | -32 | -21 | -16 |
| Profit After Tax | -130 | -180 | 31 | -66 | -79 | -81 | 155 | 263 | 99 |
| Adjustments | 2 | 60 | 15 | 18 | -43 | 26 | 1 | 2 | 17 |
| Profit After Adjustments | -127 | -120 | 46 | -48 | -122 | -55 | 156 | 265 | 116 |
| Adjusted Earnings Per Share | -1.2 | -1.1 | 0.4 | -0.5 | -1.1 | -0.5 | 1.3 | 2.2 | 1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 44% | 26% | 22% | 0% |
| Operating Profit CAGR | 41% | 36% | 42% | 0% |
| PAT CAGR | 70% | 0% | 53% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -8% | NA% | NA% | NA% |
| ROE Average | 32% | 24% | 1% | -23% |
| ROCE Average | 42% | 31% | 21% | 11% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 176 | 87 | 139 | 82 | -189 | 114 | 686 | 970 |
| Minority's Interest | 25 | -20 | -34 | -46 | -39 | -42 | -5 | -6 |
| Borrowings | 241 | 211 | 272 | 332 | 340 | 359 | 107 | 77 |
| Other Non-Current Liabilities | 9 | 42 | 52 | 64 | 1186 | 807 | 1005 | 1316 |
| Total Current Liabilities | 270 | 276 | 296 | 344 | 578 | 421 | 420 | 535 |
| Total Liabilities | 720 | 596 | 725 | 776 | 1876 | 1659 | 2214 | 2892 |
| Fixed Assets | 491 | 402 | 445 | 537 | 1594 | 1347 | 1720 | 2391 |
| Other Non-Current Assets | 108 | 82 | 136 | 94 | 139 | 148 | 158 | 191 |
| Total Current Assets | 122 | 112 | 144 | 146 | 143 | 165 | 336 | 310 |
| Total Assets | 720 | 596 | 725 | 776 | 1876 | 1659 | 2214 | 2892 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 40 | 46 | 37 | 44 | 27 | 13 | 40 | 57 |
| Cash Flow from Operating Activities | 76 | 90 | 91 | 76 | 301 | 240 | 451 | 637 |
| Cash Flow from Investing Activities | -70 | -66 | -141 | -168 | -97 | -359 | -375 | -350 |
| Cash Flow from Financing Activities | -2 | -32 | 56 | 71 | -223 | 142 | -58 | -283 |
| Net Cash Inflow / Outflow | 5 | -8 | 6 | -20 | -19 | 23 | 17 | 5 |
| Closing Cash & Cash Equivalent | 45 | 37 | 44 | 27 | 13 | 40 | 57 | 63 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -1.2 | -1.13 | 0.43 | -0.46 | -1.15 | -0.48 | 1.3 | 2.2 |
| CEPS(Rs) | -0.42 | -0.4 | 0.81 | 0.16 | 1.36 | 1.28 | 3.12 | 4.49 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 1.65 | 0.72 | 1.21 | 0.66 | -1.88 | 0.97 | 5.66 | 7.92 |
| Core EBITDA Margin(%) | 0.1 | 4.15 | 8.61 | 3.6 | 16.38 | 16.6 | 22.41 | 21.84 |
| EBIT Margin(%) | -8.12 | -8.02 | 5.76 | -1.86 | 5.54 | 6.07 | 12.09 | 13.05 |
| Pre Tax Margin(%) | -12.75 | -17.04 | 2.73 | -4.81 | -5.07 | -7.26 | 5.91 | 8.07 |
| PAT Margin (%) | -12.81 | -17.17 | 2.8 | -4.9 | -5.19 | -7.17 | 7.44 | 8.76 |
| Cash Profit Margin (%) | -4.38 | -4.07 | 7.76 | 1.22 | 9.53 | 13.05 | 18.06 | 18.06 |
| ROA(%) | -18.01 | -27.33 | 4.71 | -8.85 | -5.94 | -4.6 | 8.01 | 10.28 |
| ROE(%) | -74.03 | -143.01 | 30.46 | -66.91 | 0 | 0 | 39.06 | 32.1 |
| ROCE(%) | -15.69 | -18.31 | 14.13 | -4.67 | 18.17 | 14.78 | 36.09 | 41.92 |
| Receivable days | 5.46 | 5.74 | 5.95 | 5.57 | 4.85 | 5.5 | 3.32 | 3.04 |
| Inventory Days | 13.89 | 12.62 | 12.91 | 13.4 | 15.29 | 21.6 | 12.93 | 13.06 |
| Payable days | 127.37 | 126.2 | 130.98 | 118.88 | 118.92 | 172.14 | 109 | 89.01 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 135.09 | 65.73 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 30.97 | 18.26 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.4 | 0.36 | 0.39 | 0.42 | 0.42 | 0.47 | 10.17 | 5.81 |
| EV/Core EBITDA(x) | 127.45 | 7.19 | 3.59 | 9.84 | 2.33 | 2.13 | 43.21 | 25.23 |
| Net Sales Growth(%) | 0 | 3.47 | 6.03 | 22.15 | 11.78 | -25.16 | 83.64 | 43.84 |
| EBIT Growth(%) | 0 | -2.19 | 176.11 | -139.51 | 432.72 | -18.05 | 265.73 | 55.34 |
| PAT Growth(%) | 0 | -38.69 | 117.3 | -313.44 | -18.55 | -3.27 | 290.74 | 69.24 |
| EPS Growth(%) | 0 | 5.63 | 138.28 | -205.17 | -151.67 | 58.24 | 371.15 | 69.47 |
| Debt/Equity(x) | 1.99 | 4.01 | 2.91 | 6.92 | -2.73 | 4.12 | 0.19 | 0.08 |
| Current Ratio(x) | 0.45 | 0.41 | 0.49 | 0.42 | 0.25 | 0.39 | 0.8 | 0.58 |
| Quick Ratio(x) | 0.31 | 0.28 | 0.34 | 0.26 | 0.12 | 0.24 | 0.6 | 0.34 |
| Interest Cover(x) | -1.75 | -0.89 | 1.9 | -0.63 | 0.52 | 0.46 | 1.96 | 2.62 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 62.91 | 62.8 | 62.8 | 62.8 | 62.8 | 62.79 | 62.76 | 62.74 | 62.74 | 62.74 |
| FII | 7.82 | 6.9 | 6.87 | 8.3 | 8.82 | 9.77 | 12.05 | 13.34 | 12.47 | 12.44 |
| DII | 4.91 | 5.75 | 6.26 | 7.47 | 7.88 | 9.67 | 8.74 | 8.24 | 8.53 | 12.19 |
| Public | 24.35 | 24.55 | 24.07 | 21.43 | 20.5 | 17.78 | 16.44 | 15.68 | 16.26 | 12.63 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 75.66 | 75.66 | 75.66 | 75.66 | 75.66 | 75.66 | 75.66 | 75.66 | 75.66 | 75.66 |
| FII | 9.41 | 8.31 | 8.27 | 10 | 10.62 | 11.77 | 14.53 | 16.09 | 15.03 | 15 |
| DII | 5.91 | 6.93 | 7.54 | 9 | 9.49 | 11.65 | 10.54 | 9.93 | 10.28 | 14.7 |
| Public | 29.28 | 29.58 | 29 | 25.82 | 24.7 | 21.42 | 19.82 | 18.91 | 19.61 | 15.23 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 120.25 | 120.47 | 120.47 | 120.47 | 120.47 | 120.5 | 120.54 | 120.59 | 120.59 | 120.59 |
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