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 ₹ 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.
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
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| Indonesia Store Count (Total) Number |
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Extracted by Screener AI
Documents
Announcements
- Revised Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 5 Jun
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Pre-Offer Advertisement & Corrigendum to Detailed Public Statement
5 Jun - Open offer for up to 20.81 crore shares at ₹70 plus interest, total ₹1,464.55 crore, dated June 5, 2026.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 5 Jun
-
Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
5 Jun - Promoter stake changed after preferential allotment of 12.86 crore shares and 8.57 crore warrants on June 2, 2026.
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 3 Jun
Annual reports
Concalls
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May 2026Transcript PPT
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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]