Devyani International Limited - Q3 Results

 

On February 9th, 2023, Devyani International Limited released its Q3 FY 23 results. The largest franchisee of Yum! Brands in India is Devyani International, which runs KFC, Pizza Hut, Costa Coffee, Vangoo, and the Food Street.

 

The key financial metrics are tabulated below.

    (Rs. in Crores)

Particulars	Q-3 FY 23	Q-3 FY 22	YOY Growth
Revenue from Operations	791	624	27%
Total Income	799	628	27%
EBITDA	179	150	20%
Profit  before tax(PBT)	65	67	-3%
Profit after tax(PAT)	71	66	8%
Net Profit Ratio	8.99%	10.57%	-15%

 

Revenue from operations

The business reported operating income of Rs. 791 crores, a 27% year-over-year rise. For the nine months that ended on December 31, 2022, the company recorded revenues of Rs. 2,243 Crores, an increase of 50% from Rs. 1,493 Crores for the nine months that ended on December 31, 2021.

 

Net Profit

With an annual growth rate of 8%, the company's net profit (PAT) is Rs. 71 crores. The company's net profit ratio is currently down from 11% YOY to 9%. The gross profit ratio for the company is 70%, and it has been stable year over year.

EBITDA

The EBITDA margin of the company rose by 20% YOY to Rs. 179  crores.

EPS

For the nine months that ended in 2022, the Company's earnings per share more than doubled. EPS for the nine months ended in 2022 is Rs. 1.70, compared to Rs. 0.67 for the same period in the previous year. 

Amalgamation

At a meeting held on December 29, 2022, the necessary majority of equity shareholders and unsecured creditors approved the plan of amalgamation of the company's two wholly owned subsidiaries listed below.

1. Devyani Food Street Private Limited

2. Devyani Airport Services (Mumbai) Private Limited