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Devyani International Limited Q2 FY26 earnings call summary

NSE: DEVYANI · BSE: 543330

Earnings call of 6 Nov 2025, summarised by AI from the filing.

Devyani International Q2 FY26 revenue ₹1,377 cr, up 12.6%, but operating EBITDA margin fell to 6.8% on Sky Gate consolidation.

Key takeaways

  1. Revenue Consolidated revenue ₹1,377 cr, up 12.6% year-on-year, despite weak demand and unseasonal rains.
  2. Guidance On track to open 100-110 KFC stores this year and achieve Sky Gate brand contribution breakeven by March 2026.
  3. Margin Operating EBITDA margin fell to 6.8% from 8.1% in Q1 FY26 due to Sky Gate consolidation and start-up costs.
  4. Demand Demand environment remains weak; consumers value conscious, lower value items picking up fast.
  5. Risk Sky Gate consolidation and new brand start-up costs impacted margins; breakeven targeted by March 2026.

Original filing on BSE

Devyani International Limited Q1 FY27 results

As filed: Revenue ₹1,581 cr (+16% year on year), EBITDA ₹254 cr (+23% year on year), PAT ₹17.1 cr (+300% year on year), EBITDA margin 16.1% (+90 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹1,437 cr (+18% year on year), EBITDA ₹220 cr (+18% year on year), PAT −₹9.8 cr, EBITDA margin 15.3% (−8 bps). Score 45 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA growth was in line with it. EBITDA margin was flat year on year. Revenue rose ₹224 cr on a year ago, more than the ₹166 cr it added the year before. Share price after the results: −7.3% in 28 days (Nifty 500: −0.1%).
  • Q3 FY26: Revenue ₹1,441 cr (+11% year on year), EBITDA ₹231 cr (+8% year on year), PAT −₹11.0 cr (−25% year on year), EBITDA margin 16.0% (−50 bps). Score 44 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA and profit before exceptional items growth were in line with it. EBITDA margin fell 50 bps year on year. Share price after the results: +0.7% in 30 days (Nifty 500: −4.1%).
  • Q2 FY26: Revenue ₹1,377 cr (+13% year on year), EBITDA ₹192 cr (−2% year on year), PAT −₹24.0 cr, EBITDA margin 13.9% (−201 bps). Score 15 of 100, Below trend. Revenue and EBITDA growth were below the company's own trend. EBITDA margin fell 201 bps year on year. Profit fell 1300% from last quarter. Share price after the results: −14.1% in 29 days (Nifty 500: +0.7%).
  • Q1 FY26: Revenue ₹1,357 cr (+11% year on year), EBITDA ₹206 cr (−5% year on year), PAT ₹2.0 cr (−91% year on year), EBITDA margin 15.2% (−250 bps). Score 20 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 250 bps year on year. Other income 467% of PBT. Share price after the results: +22.0% in 30 days (Nifty 500: +2.8%).
  • Q4 FY25: Revenue ₹1,213 cr (+16% year on year), EBITDA ₹187 cr (+9% year on year), PAT −₹17.0 cr, EBITDA margin 15.4% (−101 bps). Score 43 of 100, In line with trend. Revenue growth was well below the company's own trend; EBITDA growth was below it. EBITDA margin fell 101 bps year on year. Revenue fell 6% from last quarter. Revenue rose ₹166 cr on a year ago, against ₹292 cr the year before. Share price after the results: −7.5% in 28 days (Nifty 500: +2.0%).
  • Q3 FY25: Revenue ₹1,294 cr (+54% year on year), EBITDA ₹214 cr (+47% year on year), PAT −₹8.0 cr (−260% year on year), EBITDA margin 16.5% (−78 bps). Score 20 of 100, Below trend. Revenue growth was above the company's own trend; EBITDA growth was well above it. EBITDA margin fell 78 bps year on year. Other income 100% of PBT. Tax rate 178%.
  • Q2 FY25: Revenue ₹1,222 cr (+49% year on year), EBITDA ₹195 cr (+27% year on year), PAT −₹5.0 cr (−114% year on year), EBITDA margin 16.0% (−285 bps). Score 20 of 100, Below trend. EBITDA margin fell 285 bps year on year. Not enough history for a trend yet: scored on growth alone. Profit fell 123% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Devyani International Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.