Restaurant Brands Asia Ltd
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]
- Market Cap ₹ 7,291 Cr.
- Current Price ₹ 102
- High / Low ₹ 111 / 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
- Stock is trading at 2.83 times its book value
- 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 16 | 139 | 230 | 378 | 633 | 841 | 494 | 944 | 1,440 | 1,760 | 1,968 | 2,272 | 2,402 | |
| 21 | 172 | 237 | 370 | 554 | 737 | 479 | 854 | 1,144 | 1,522 | 1,683 | 1,932 | 2,033 | |
| Operating Profit | -5 | -33 | -7 | 8 | 79 | 104 | 15 | 90 | 295 | 238 | 284 | 340 | 369 |
| OPM % | -30% | -24% | -2.9% | 2.1% | 12% | 12% | 3.0% | 10% | 21% | 14% | 14% | 15% | 15% |
| 0 | 4 | 7 | 11 | 11 | 1 | 21 | 21 | -97 | 18 | 24 | -49 | -57 | |
| Interest | 0 | 0 | 27 | 37 | 46 | 65 | 82 | 68 | 90 | 114 | 141 | 169 | 172 |
| Depreciation | 1 | 9 | 45 | 64 | 82 | 116 | 128 | 136 | 180 | 211 | 255 | 280 | 291 |
| Profit before tax | -6 | -38 | -72 | -82 | -38 | -77 | -174 | -93 | -72 | -69 | -88 | -159 | -151 |
| 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 | -151 | |
| 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 | -2.57 |
| 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: | 18% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 1% |
| 5 Years: | 12% |
| 3 Years: | % |
| TTM: | 61% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -10% |
| 3 Years: | -4% |
| 1 Year: | 32% |
| 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 | -18 |
| 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 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| India Restaurant Count stores |
|
|||||||||
| India Same Store Sales Growth (SSSG) % |
||||||||||
| India Average Daily Sales (ADS) INR '000 |
||||||||||
| BK Café Store Count (India) cafés |
||||||||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Restaurant Brands Asia will attend three investor conferences in September 2026 in Mumbai.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Restaurant Brands Asia will attend three investor conferences in September 2026 in Mumbai.
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
- Allotment of 3,59,468 Equity Shares pursuant to ESOP
-
Announcement Under Regulation 30 Read With Schedule III (Para A Of Part A) Of SEBI (LODR) Regulations, 2015.
- Received two Rs.1.8 lakh penalties under Food Safety Act from Mathura ADM on August 20, 2026.
Annual reports
Concalls
-
Aug 2026Transcript PPT
-
May 2026Transcript PPT
-
Feb 2026Transcript PPT
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript PPT
-
May 2025Transcript PPT REC
-
Jan 2025Transcript PPT
-
Nov 2024Transcript PPT REC
-
Aug 2024Transcript PPT
-
May 2024Transcript PPT
-
Feb 2024Transcript PPT REC
-
Nov 2023Transcript PPT
-
Aug 2023Transcript PPT
-
May 2023Transcript PPT
-
Feb 2023Transcript PPT
-
Nov 2022Transcript PPT
-
Aug 2022Transcript PPT
-
Jun 2022Transcript PPT
-
Feb 2022Transcript PPT
-
Nov 2021Transcript PPT
-
Aug 2021TranscriptPPT
-
Jun 2021Transcript PPT
-
Mar 2021TranscriptPPT
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]