Restaurant Brands Asia Ltd

Restaurant Brands Asia Ltd

₹ 68.7 -0.10%
10 Jun 11:46 a.m.
About

Burger King India Ltd is an international QSR chain in India. It started operations in 2014 and has established ~681 restaurants across major cities in India & Indonesia. The company is an Exclusive National Master Franchisee of Burger King in India and its subsidiaries are Exclusive National Master Franchisee of the brands Burger King and Popeyes in Indonesia[1]

Key Points

Business Overview
The company is the national master franchisee for the brand, BURGER KING. It holds exclusive rights to develop, open, operate, and franchise BURGER KING restaurants in India. In Indonesia, it operates as the master franchisee for brands like BURGER KING and POPEYES through its subsidiaries. [1]

  • Market Cap 4,003 Cr.
  • Current Price 68.7
  • High / Low 87.6 / 57.2
  • Stock P/E
  • Book Value 36.2
  • Dividend Yield 0.00 %
  • ROCE 3.46 %
  • ROE -1.69 %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -2.04%
  • Promoter holding is low: 9.22%
  • Company has a low return on equity of -3.16% over last 3 years.

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
365 422 453 445 439 490 492 495 490 552 569 577 573
323 374 390 375 384 428 422 418 415 484 491 482 475
Operating Profit 42 48 63 71 55 63 70 78 75 68 78 96 98
OPM % 12% 11% 14% 16% 13% 13% 14% 16% 15% 12% 14% 17% 17%
9 7 4 3 5 6 7 3 7 28 12 10 -99
Interest 27 26 27 28 32 32 33 36 40 41 40 42 46
Depreciation 48 51 49 52 59 63 61 63 67 66 69 72 74
Profit before tax -25 -22 -9 -6 -31 -27 -17 -19 -25 -12 -20 -7 -120
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-25 -22 -9 -6 -31 -27 -17 -19 -25 -12 -20 -7 -120
EPS in Rs -0.50 -0.45 -0.19 -0.13 -0.63 -0.54 -0.33 -0.37 -0.44 -0.20 -0.35 -0.12 -2.06
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 3m Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
16 139 230 378 633 841 494 944 1,440 1,760 1,968 2,272
21 172 237 370 554 737 479 854 1,144 1,522 1,683 1,932
Operating Profit -5 -33 -7 8 79 104 15 90 295 238 284 340
OPM % -30% -24% -3% 2% 12% 12% 3% 10% 21% 14% 14% 15%
0 4 7 11 11 1 21 21 -97 18 24 -49
Interest 0 0 27 37 46 65 82 68 90 114 141 169
Depreciation 1 9 45 64 82 116 128 136 180 211 255 280
Profit before tax -6 -38 -72 -82 -38 -77 -174 -93 -72 -69 -88 -159
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-6 -38 -72 -82 -38 -77 -174 -93 -72 -69 -88 -159
EPS in Rs -1.42 -3.23 -2.71 -3.10 -1.44 -2.76 -4.54 -1.89 -1.45 -1.39 -1.50 -2.73
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 32%
5 Years: 36%
3 Years: 16%
TTM: 15%
Compounded Profit Growth
10 Years: 1%
5 Years: 12%
3 Years: %
TTM: 58%
Stock Price CAGR
10 Years: %
5 Years: -16%
3 Years: -14%
1 Year: -14%
Return on Equity
10 Years: -6%
5 Years: -2%
3 Years: -3%
Last Year: -2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 39 119 265 265 265 278 383 493 495 496 582 583
Reserves 41 55 103 22 -15 -2 290 1,458 1,400 1,353 1,678 1,526
0 0 291 370 574 796 597 712 945 1,164 1,558 1,698
13 32 40 73 97 126 157 224 250 370 467 467
Total Liabilities 93 205 698 730 920 1,198 1,428 2,886 3,090 3,383 4,286 4,274
30 119 475 592 793 1,037 986 1,157 1,541 1,857 2,201 2,445
CWIP 4 10 10 10 20 48 30 11 30 42 26 38
Investments 41 45 177 87 38 19 124 1,511 1,380 1,316 1,279 1,277
17 31 36 41 69 95 288 207 139 168 780 514
Total Assets 93 205 698 730 920 1,198 1,428 2,886 3,090 3,383 4,286 4,274

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-16 113 29 98 162 318 344 345
-13 -230 -304 -1,388 -42 -160 -287 -593
52 106 296 1,280 -121 -153 443 -248
Net Cash Flow 24 -12 21 -10 -0 6 501 -496
Free Cash Flow -28 -115 -6 -17 -120 89 79 1
CFO/OP 317% 109% 195% 115% 57% 134% 118% 102%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 3 2 2 2 3 1 4 4 3 4 5 6
Inventory Days 40 16 16 13 11 11 21 15 14 13 13 12
Days Payable 205 62 77 110 97 99 237 149 105 98 99 82
Cash Conversion Cycle -162 -44 -59 -94 -82 -86 -212 -130 -88 -81 -81 -64
Working Capital Days -124 -58 -40 -70 -108 -54 -99 -78 -55 -57 -56 4
ROCE % -32% -11% -8% 1% -1% -7% -1% 5% 2% 2% 3%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Dec 2024 Dec 2025
India Store Count (BK)
Number

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BK Café Count - India
Number
Indonesia Store Count (Total)
Number

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
15.43% 15.39% 15.39% 15.33% 13.17% 13.16% 11.27% 11.27% 11.27% 11.26% 11.26% 9.22%
29.92% 26.90% 24.86% 18.78% 17.53% 15.34% 20.37% 20.52% 20.64% 16.82% 10.59% 8.19%
22.21% 23.67% 23.15% 28.37% 37.75% 38.84% 40.45% 39.97% 40.07% 37.26% 45.60% 39.98%
32.43% 34.04% 36.61% 37.51% 31.55% 32.66% 27.93% 28.22% 28.01% 34.67% 32.54% 42.60%
No. of Shareholders 2,43,3182,39,5422,36,3462,28,7552,24,8622,30,7702,27,4652,27,7072,28,6352,50,7342,47,5162,43,291

* 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.

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