Devyani International (DEVYANI) is loss-making over the last 12 months, losing ₹8.59 Cr, so a P/E ratio does not apply. Its share price on 6 Nov 2026 was ₹128.65, 19% below its 52-week high. Sales grew 23% a year over 3 years. Debt is 1.82× equity. It is a small-cap company with a market cap of ₹15,862 Cr, ranked 2nd of 16 Restaurants companies by market cap; the shares fell 19% over the past year.
- ₹127.92
- ₹131.50
- ₹127.00
- ₹129.21
- 20.1 L
Health check
- ReturnsIn line
−18.9% over a year, better than 3 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthUnder pressure
Sales +23.3% a year over 3 years, but loss-making now.
- ProfitabilityWeak
ROCE 4.3% vs peer median 7.8%.
- Balance sheetStretched
Debt 1.82× equity, interest covered 0.8×, Piotroski 4 of 9.
- Red flags3 to check
Loss-making over the last twelve months.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹15,862 Cr
- Small cap
- P/E
- n/a
- Industry 32.6
- Price to book
- 9.83
- Peers 6.73
- Dividend yield
- 0.00%
- ROE
- −0.1%
- Peers 0.3%
- ROCE
- 4.3%
- Peers 7.8%
- Debt to equity
- 1.82
- Debt ₹3,453 Cr
- EPS (TTM)
- −₹0.06
- Face value ₹1
- OPM (TTM)
- 15.7%
- Net margin −0.1%
- Sales growth
- +11.2%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 2.65
- EV/EBITDA 27.9
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −0.1%.
- Debt is 1.82× equity.
About Devyani International
Devyani International Limited develops, manages, and operates quick service restaurants and food courts in India, Nepal, Nigeria, Thailand, and internationally. It operates outlets under the KFC, Pizza Hut, Costa Coffee, Vaango and other brands. The company serves retail consumers for quick service food and beverages through dine in, takeaway, and delivery channels. The company was incorporated in 1991 and is based in Gurugram, India. Devyani…
- Headquarters
- Gurugram
- Employees
- 15,955
- Sector
- Consumer Cyclical
- ISIN
- INE872J01023
- Website
- dil-rjcorp.com
Price range
- Avg volume (3M)
- 27.5 L
- 1-year return
- minus 18.9%
- From 52-week high
- minus 19.4%
Analyst consensus
Peers · Restaurants
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JUBLFOODJubilant Foodworks | 457.20 | plus 0.15% | 30,069 | 80.9 | 13.12 | 16.2% | 19.5% | 19.8% | 20.2% | 6.7% | 0.26% | minus 23.1% |
| DEVYANIDevyani International | 128.65 | minus 0.43% | 15,862 | – | 9.83 | 4.3% | −0.1% | 15.7% | 23.3% | – | 0.00% | minus 18.9% |
| TRAVELFOODTravel Food Services | 1,174.80 | minus 1.00% | 15,474 | 32.6 | 10.73 | 41.8% | 35.3% | 26.6% | 15.6% | 21.8% | 0.87% | minus 9.8% |
| WESTLIFEWESTLIFE FOODWORLD | 655.55 | plus 1.74% | 10,175 | 5042.7 | 16.90 | 9.0% | 0.3% | 13.3% | 4.8% | −33.8% | 0.12% | plus 10.1% |
| SAPPHIRESapphire Foods India | 210.06 | 0.00% | 6,759 | – | 4.48 | 3.1% | −0.4% | 2.9% | 11.3% | – | 0.00% | minus 26.3% |
| RBARestaurant Brands Asia | 88.62 | minus 5.99% | 6,312 | – | 3.53 | −0.6% | −12.5% | 0.5% | 11.0% | – | 0.00% | plus 39.9% |
| UFBLUnited Foodbrands | 538.70 | plus 3.78% | 2,107 | – | 6.73 | 1.4% | −8.1% | 14.8% | 2.8% | – | 0.00% | plus 159.6% |
| COFFEEDAYCoffee Day Enterprises | 31.48 | plus 3.96% | 665 | 3.8 | 0.24 | 7.8% | 7.5% | 14.5% | 6.6% | – | 0.00% | minus 25.2% |
| Median of 7 peers | – | 0.15% | 6,759 | 56.7 | 6.73 | 7.8% | 0.3% | 14.5% | 11.0% | 6.7% | 0.00% | −9.8% |
Quarterly results
| ₹ Cr | Jun 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 1,357 | 1,441 | 1,437 | 1,581 | 1,519 | |
| 1,152 | 1,214 | 1,207 | 1,326 | 1,291 | |
| 205 | 227 | 230 | 255 | 229 | |
| 15.1% | 15.7% | 16.0% | 16.1% | 15.0% | |
| 14.5 | 15.5 | 16.7 | 19.8 | 16 | |
| 66.8 | 70 | 70.1 | 70.1 | 65.3 | |
| 150 | 167 | 182 | 180 | 173 | |
| – | −20.4 | −11.8 | −1.1 | −0.4 | |
| 2.9 | −14.9 | −18.1 | 22.9 | 5.7 | |
| 17.6% | 33.0% | 26.1% | 25.4% | 39.2% | |
| 3.7 | −10.4 | −10 | 14.6 | −0.2 | |
| 0.03 | -0.08 | -0.08 | 0.12 | – |
Profit & loss
- Sales CAGR 3Y
- +23.3%
- ROE
- −0.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,973 | 3,532 | 4,921 | 5,571 | |
| – | +18.8% | +39.3% | +13.2% | |
| 2,328 | 2,890 | 4,085 | 4,728 | |
| 644 | 642 | 835 | 843 | |
| 21.7% | 18.2% | 17.0% | 15.1% | |
| 24.4 | −76.7 | 18.2 | 46.7 | |
| 144 | 187 | 265 | 276 | |
| 279 | 385 | 570 | 654 | |
| −3.8 | 10.6 | −5.8 | −17 | |
| 242 | 3.7 | 12.8 | −56.9 | |
| −8.5% | 362.6% | 154.0% | 25.2% | |
| 265 | 47.3 | 9.1 | −38.6 | |
| – | minus 82.2% | minus 80.6% | minus 522.2% | |
| 2.19 | 0.39 | 0.08 | -0.31 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 120 | 121 | 121 | 123 | |
| 850 | 935 | 974 | 1,419 | |
| 1,565 | 2,906 | 3,188 | 3,783 | |
| 450 | 971 | 1,057 | 1,425 | |
| 2,985 | 4,932 | 5,339 | 6,750 | |
| 2,204 | 3,216 | 3,532 | 3,807 | |
| 31.2 | 25.6 | 19.4 | 17.9 | |
| 79.1 | 0.1 | 8.9 | 167 | |
| 84.1 | 191 | 181 | 495 | |
| 587 | 1,500 | 1,597 | 2,263 | |
| 2,985 | 4,932 | 5,339 | 6,750 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 637 | 592 | 900 | 919 | |
| −350 | −1,551 | −462 | −440 | |
| −283 | 889 | −425 | −197 | |
| 4.6 | −69.1 | 12.7 | 282 | |
| −437 | −478 | −491 | −459 | |
| 200 | 114 | 409 | 460 |
Shareholding pattern
- Promoters61.36%
- Public38.64%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 61.36% | 38.64% | 0.00 | |
| 30 Jun 2026 | 61.36% | 38.64% | 0.00 | |
| 31 Mar 2026 | 61.36% | 38.64% | minus 0.01 | |
| 31 Dec 2025 | 61.37% | 38.63% | minus 0.05 | |
| 30 Sep 2025 | 61.42% | 38.58% | – |
Major shareholders
Filings & events
News
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