Devyani International Ltd

Devyani International Ltd

₹ 150 -0.86%
28 Mar - close price
About

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]

Key Points

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.

  • 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
379.10 433.10 352.75 516.08 624.43 590.75 704.72 747.43 790.60 754.98 846.63 819.47 843.13
296.03 316.42 295.90 387.97 476.60 451.08 540.03 581.04 616.66 604.37 673.19 665.04 696.84
Operating Profit 83.07 116.68 56.85 128.11 147.83 139.67 164.69 166.39 173.94 150.61 173.44 154.43 146.29
OPM % 21.91% 26.94% 16.12% 24.82% 23.67% 23.64% 23.37% 22.26% 22.00% 19.95% 20.49% 18.85% 17.35%
56.75 26.57 -9.71 4.48 4.51 -0.27 9.00 -6.78 -0.71 11.02 -40.51 -7.41 4.61
Interest 49.27 26.80 32.40 32.79 29.64 32.16 32.82 34.81 37.81 42.04 40.37 41.66 48.24
Depreciation 51.40 54.29 48.19 52.63 55.76 64.76 63.73 66.05 70.63 78.36 79.60 86.34 92.98
Profit before tax 39.15 62.16 -33.45 47.17 66.94 42.48 77.14 58.75 64.79 41.23 12.96 19.02 9.68
Tax % 0.61% -0.02% 0.12% 1.23% 1.40% -78.77% 3.07% 3.29% -9.63% -45.23% 112.27% -88.38% 47.73%
38.91 62.17 -33.42 46.59 66.00 75.94 74.77 56.83 71.04 59.88 -1.59 35.82 5.07
EPS in Rs 3.93 0.53 -0.25 0.38 0.52 0.63 0.61 0.49 0.59 0.50 0.10 0.28 0.08
Raw PDF

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%

Shareholding Pattern

Numbers in percentages

18 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
62.91% 62.91% 62.80% 62.80% 62.80% 62.80% 62.78% 62.76% 62.74% 62.74%
7.86% 7.82% 6.90% 6.87% 8.30% 8.82% 9.77% 12.05% 13.34% 12.47%
4.82% 4.92% 5.75% 6.26% 7.47% 7.88% 9.66% 8.74% 8.23% 8.52%
24.40% 24.35% 24.55% 24.07% 21.43% 20.51% 17.78% 16.46% 15.69% 16.27%
No. of Shareholders 2,49,3752,53,8982,73,6462,70,7112,96,1922,95,3333,06,3552,71,6892,64,7142,95,903

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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