Devyani International Ltd
Devyani International Limited (DIL) is the largest franchisee of Yum Brands in India and is among the largest operators of chain
quick service restaurants (QSR) in India. In addition, DIL is a franchisee for the Costa Coffee brand and stores in India.[1]
- Market Cap ₹ 18,142 Cr.
- Current Price ₹ 150
- High / Low ₹ 228 / 142
- Stock P/E 131
- Book Value ₹ 8.59
- Dividend Yield 0.00 %
- ROCE 18.4 %
- ROE 33.9 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 53.7% CAGR over last 5 years
Cons
- Stock is trading at 17.5 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Tax rate seems low
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Quick Service Restaurant Industry: Hotels
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|
1,012 | 1,048 | 1,111 | 1,311 | 1,516 | 1,135 | 2,084 | 2,998 | 3,264 | |
1,013 | 1,008 | 1,015 | 1,106 | 1,297 | 938 | 1,608 | 2,340 | 2,639 | |
Operating Profit | -1 | 39 | 96 | 205 | 220 | 197 | 476 | 658 | 625 |
OPM % | -0% | 4% | 9% | 16% | 14% | 17% | 23% | 22% | 19% |
-0 | 8 | 23 | 42 | 45 | 120 | -3 | 12 | -32 | |
Interest | 43 | 88 | 34 | 137 | 161 | 151 | 129 | 149 | 172 |
Depreciation | 85 | 137 | 55 | 203 | 223 | 229 | 221 | 279 | 337 |
Profit before tax | -129 | -178 | 30 | -93 | -120 | -64 | 123 | 242 | 83 |
Tax % | -1% | -1% | -3% | -1% | -2% | 2% | -26% | -9% | |
-130 | -180 | 31 | -94 | -121 | -63 | 155 | 263 | 99 | |
EPS in Rs | -11.98 | -11.31 | 4.33 | -7.46 | -11.46 | -0.48 | 1.30 | 2.20 | 0.96 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 22% |
3 Years: | 26% |
TTM: | 15% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 54% |
3 Years: | 57% |
TTM: | -53% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 5% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
Last Year: | 34% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|
Equity Capital | 106 | 106 | 106 | 106 | 106 | 115 | 120 | 120 | 121 |
Reserves | 70 | -19 | 33 | -176 | -295 | -2 | 566 | 850 | 915 |
Preference Capital | 0 | 0 | 0 | 0 | 0 | 8 | 0 | 0 | |
348 | 306 | 371 | 488 | 544 | 1,328 | 1,254 | 1,565 | 1,683 | |
196 | 202 | 218 | 1,390 | 1,529 | 227 | 322 | 453 | 411 | |
Total Liabilities | 720 | 596 | 728 | 1,807 | 1,884 | 1,668 | 2,263 | 2,989 | 3,130 |
491 | 406 | 445 | 1,578 | 1,635 | 1,392 | 1,756 | 2,427 | 2,572 | |
CWIP | 38 | 15 | 56 | 12 | 14 | 14 | 7 | 15 | 16 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
192 | 174 | 226 | 218 | 235 | 262 | 500 | 547 | 542 | |
Total Assets | 720 | 596 | 728 | 1,807 | 1,884 | 1,668 | 2,263 | 2,989 | 3,130 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|
90 | 91 | 278 | 301 | 240 | 451 | 637 | ||
-67 | -140 | -165 | -91 | -355 | -375 | -349 | ||
-32 | 56 | -130 | -223 | 142 | -58 | -283 | ||
Net Cash Flow | -9 | 7 | -18 | -13 | 27 | 17 | 5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|
Debtor Days | 5 | 6 | 6 | 6 | 4 | 5 | 4 | 4 |
Inventory Days | 45 | 39 | 48 | 52 | 57 | 66 | 52 | 52 |
Days Payable | 127 | 129 | 139 | 128 | 129 | 171 | 119 | 98 |
Cash Conversion Cycle | -77 | -85 | -84 | -70 | -68 | -100 | -64 | -42 |
Working Capital Days | -31 | -67 | -51 | -46 | -60 | -37 | -6 | -26 |
ROCE % | -19% | 15% | 7% | 4% | 4% | 16% | 18% |
Documents
Announcements
- Closure of Trading Window 1d
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Announcement under Regulation 30 (LODR)-Change in Management
18 Mar - Change in Senior Management Personnel of the Company
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Disclosure Under The SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations")
11 Mar - Representatives of the Company shall participate in events/ conferences, as per attached schedule.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
9 Feb - Transcripts of Investor & Analyst Conference
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Disclosure Under The SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations")
8 Feb - Representatives of the Company shall participate in the enclosed events/conferences.
Annual reports
Concalls
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Feb 2024Transcript PPT REC
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Dec 2023TranscriptNotesPPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
Part of RJ Corporation [1]
Devyani International Ltd is part of RJ Corporation started by Ravi Kant Jaipuria in 1991. RJ Corp is a powerhouse multinational with thriving businesses in beverages(Varun Beverages) fast-food restaurants(KFC, Pizza Hut, Costa Coffee) retail, ice-cream, Livestock (Cream bell, Daima) healthcare (Medanta Afri care) and education with a presence across 26 Nations through its subsidiaries.