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 ₹ 4,599 Cr.
- Current Price ₹ 79.1
- High / Low ₹ 116 / 59.4
- Stock P/E
- Book Value ₹ 15.6
- Dividend Yield 0.00 %
- ROCE -3.01 %
- ROE -28.2 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 5.07 times its book value
- Company has low interest coverage ratio.
- Promoter holding is low: 11.3%
- Company has a low return on equity of -27.0% over last 3 years.
- Promoter holding has decreased over last 3 years: -29.6%
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|
1,004 | 1,490 | 2,054 | 2,437 | 2,551 | 2,602 | |
979 | 1,394 | 1,943 | 2,195 | 2,282 | 2,323 | |
Operating Profit | 25 | 97 | 112 | 242 | 268 | 279 |
OPM % | 2% | 6% | 5% | 10% | 11% | 11% |
26 | -3 | 36 | 18 | 31 | 39 | |
Interest | 104 | 95 | 105 | 141 | 161 | 170 |
Depreciation | 229 | 234 | 284 | 356 | 371 | 373 |
Profit before tax | -282 | -235 | -242 | -237 | -233 | -226 |
Tax % | 0% | 0% | 0% | 0% | 0% | |
-282 | -235 | -242 | -237 | -233 | -226 | |
EPS in Rs | -6.42 | -3.98 | -4.47 | -4.39 | -3.71 | -3.91 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 20% |
TTM: | 5% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | -9% |
TTM: | 4% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | -14% |
1 Year: | -26% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | -27% |
Last Year: | -28% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|
Equity Capital | 383 | 493 | 495 | 496 | 582 |
Reserves | -298 | 548 | 331 | 130 | 326 |
901 | 887 | 1,168 | 1,430 | 1,832 | |
977 | 451 | 500 | 652 | 722 | |
Total Liabilities | 1,963 | 2,378 | 2,493 | 2,709 | 3,463 |
1,391 | 1,514 | 1,953 | 2,320 | 2,603 | |
CWIP | 47 | 18 | 35 | 49 | 34 |
Investments | 124 | 402 | 147 | 83 | 24 |
401 | 444 | 358 | 256 | 802 | |
Total Assets | 1,963 | 2,378 | 2,493 | 2,709 | 3,463 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|
48 | 78 | 124 | 346 | 350 | |
-322 | -1,091 | 16 | -219 | -232 | |
357 | 1,112 | -170 | -251 | 385 | |
Net Cash Flow | 82 | 99 | -30 | -124 | 503 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|
Debtor Days | 3 | 3 | 3 | 4 | 5 |
Inventory Days | 18 | 15 | 16 | 14 | 18 |
Days Payable | 226 | 152 | 133 | 119 | 155 |
Cash Conversion Cycle | -205 | -134 | -114 | -101 | -133 |
Working Capital Days | -352 | -107 | -89 | -81 | -93 |
ROCE % | -8% | -7% | -5% | -3% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 4 Aug
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
31 Jul - Investor call audio for Q1 FY2026 financial results uploaded on company website.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
31 Jul - Q1 FY26 Monitoring Agency Report confirms proper utilization of INR 500 Cr QIP proceeds by Restaurant Brands Asia.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
31 Jul - Q1 FY26 revenue up 12.6%, EBITDA up 19.2%, 63 new stores added, same-store sales grew 2.6%.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
31 Jul - Investor Presentation on Unaudited standalone and consolidated financial results for the quarter ended June 30, 2025
Annual reports
Concalls
-
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]