Devyani International Ltd
NSE: DEVYANI · Restaurants · sector
₹120.12NSE close 2026-10-26
Key numbers
Market cap₹14,810 cr
Price₹120.12
52w high / low₹169 / ₹92
P/E–Sector median 48.0x
P/B9.6xSector median 9.3x
Book value₹12.5
Dividend yield–Sector median 0.34%
ROE-2.1%Sector median 3.9%
ROCE8.4%Sector median 9.0%
OPM15.0%Sector median 15.0%
Debt / equity0.88xSector median 0.29x
EV/EBITDA17.9xSector median 15.3x
Interest cover0.9x
Current ratio0.51x
Sales growth 3y+23.2%Sector median +11.2%
Profit growth 3y–Sector median -16.2%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 12 companies in Restaurants (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹495 cr vs borrowings ₹1,360 cr (FY26): borrowings are higher by ₹866 cr.
- Borrowings rose in each of the last 3 years (₹77 cr → ₹1,360 cr).
- Operating profit covered interest 0.9x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Net loss in 5 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- No dividend in the last 5 financial years.
- Price ₹120.12 on 2026-10-26: -29.1% from the 52-week high, +31.2% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹221.58 · low ₹96.76
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,222 | 1,294 | 1,213 | 1,357 | 1,377 | 1,441 | 1,437 | 1,581 |
| EBITDA | 196 | 213 | 186 | 206 | 192 | 210 | 220 | 254 |
| OPM % | 16.0% | 16.5% | 15.3% | 15.2% | 14.0% | 14.5% | 15.3% | 16.1% |
| Other income | 5 | 9 | 13 | 14 | 5 | 12 | 14 | 19 |
| Net profit | 0 | -0 | -15 | 4 | -22 | -10 | -10 | 15 |
| EPS (₹) | 0.00 | 0.00 | 0.12 | 0.03 | -0.18 | -0.08 | -0.08 | 0.12 |
| Revenue YoY | +12.6% | +11.3% | +18.5% | +16.5% | ||||
| Profit YoY | -1,09,550.0% | – | – | +297.0% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,084 | 2,998 | 3,556 | 4,951 | 5,611 | 5,835 |
| EBITDA | 455 | 635 | 543 | 811 | 828 | 876 |
| Net profit | 156 | 265 | 47 | 9 | -39 | -28 |
| EPS (₹) | 1.32 | 2.20 | 0.39 | 0.08 | -0.31 | -0.22 |
| Revenue growth | +43.8% | +18.6% | +39.2% | +13.3% | +14.7% | |
| Profit growth | +69.5% | -82.2% | -80.6% | -522.2% | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +23.2% | – | +14.7% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -18.0% (2y) | -30.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 970 | 1,056 | 1,094 | 1,542 |
| Borrowings | – | 77 | 910 | 932 | 1,360 |
| Cash & equivalents | – | 85 | 181 | 181 | 495 |
| Total assets | – | 2,989 | 4,932 | 5,339 | 6,750 |
| Fixed assets | – | 947 | 1,500 | 1,633 | 1,758 |
| Capital work in progress | – | 15 | 11 | 3 | 8 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 29 | 53 | 41 | 64 |
| Inventory | – | 129 | 131 | 148 | 165 |
| Payables | – | 242 | 376 | 441 | 615 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 451 | 637 | 592 | 900 | 919 |
| Cash from investing | -375 | -350 | -1,551 | -462 | -440 |
| Cash from financing | -58 | -283 | 1,063 | -425 | -190 |
| Capex | 306 | 437 | 478 | 491 | 459 |
| Free cash flow | 144 | 200 | 114 | 409 | 460 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 27.3% | 4.5% | 0.8% | -2.5% |
| ROCE % | – | 37.2% | 9.7% | 13.7% | 7.6% |
| Debtor days | – | 4 | 5 | 3 | 4 |
| Inventory days | – | 52 | 45 | 35 | 34 |
| Payable days | – | 98 | 130 | 105 | 127 |
| Cash conversion cycle (days) | – | -42 | -80 | -67 | -89 |
| Working capital days | – | -27 | -44 | -47 | -53 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 61.36% |
| FIIs | 6.12% |
| DIIs | 20.88% |
| of which Mutual funds | 17.04% |
| of which Insurance | 3.17% |
| Public (non-institutions) | 11.64% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 62.72% | 62.72% | 62.62% | 61.42% | 61.37% | 61.36% | 61.36% | 61.36% |
| Promoter group | % |
|---|---|
| RJ Corp Limited | 57.98% |
| Varun Jaipuria | 3.21% |
| Ravi Kant Jaipuria | 0.17% |
| Madhav H Mariwala | 0.00% |
| Vivek Gupta | 0.00% |
| Vivek Gupta HUF | 0.00% |
| Madhav Mariwala HUF | 0.00% |
| Aishwarya M Mariwala | 0.00% |
| Nandini M Mariwala | 0.00% |
| Kimaya Jaipuria | 0.00% |
| Madhu Rajendra Jindal | 0.00% |
| Bela Jyotikumar Saha | 0.00% |
| Devyani Jaipuria | 0.00% |
| Dhara Jaipuria | 0.00% |
| Lotus Holdings | 0.00% |
| Public holders above 1% | % |
|---|---|
| Nippon Life India Trustee Ltd-a/c Nippon India NIF | 7.59% |
| Dunearn Investments (Mauritius) PTE Ltd | 2.87% |
| HSBC Mutual Fund - HSBC Small CAP Fund | 1.81% |
| HDFC Mutual Fund - HDFC Multi CAP Fund | 1.60% |
| Kotak Small CAP Fund | 1.53% |
| Bajaj Life Insurance Limited | 1.48% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual F | 1.01% |
| ICICI Prudential Life Insurance Company Limited | 1.01% |
2,41,914 shareholders. Pledged: 0.00% of promoter shares.
Peers in Restaurants
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| JUBLFOOD | ₹27,905 cr | 64.4x | 12.2x | 20.1% | 24.4% | 19.4% | +22.6% | 0.29% |
| TRAVELFOOD | ₹15,010 cr | 31.5x | 10.4x | 33.0% | 43.4% | 38.5% | – | 0.40% |
| DEVYANI | ₹14,810 cr | – | 9.6x | -2.1% | 8.4% | 15.0% | +23.2% | – |
| WESTLIFE | ₹9,163 cr | 1,546.3x | 17.9x | 1.2% | – | – | – | 0.13% |
| RBA | ₹6,541 cr | – | 9.1x | -21.3% | 0.0% | 12.0% | +11.2% | – |
| SAPPHIRE | ₹6,285 cr | – | 4.5x | -0.3% | 8.8% | 14.8% | +11.3% | – |
| UFBL | ₹2,442 cr | – | 7.9x | -11.8% | 9.0% | 14.8% | +2.8% | – |
| SPICELOUNG | ₹1,487 cr | 71.1x | 12.1x | 13.5% | 9.0% | 10.7% | – | – |
| SPECIALITY | ₹624 cr | 26.6x | 1.8x | 7.0% | 12.9% | 17.4% | +8.3% | 0.77% |
| COFFEEDAY | ₹594 cr | 3.4x | 0.2x | 6.5% | 7.7% | 32.4% | +6.5% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-06-27 | Other | Annual General Meeting |
| 2023-06-23 | Other | Annual General Meeting |
| 2022-06-17 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Operator of Quick Service Restaurant (QSR): Food, Beverages and Restaurant business
| Sector | Consumer Discretionary |
| Industry | Restaurants |
| Sub-industry | Restaurants |
| Symbol | DEVYANI |
| BSE code | 543330 |
| ISIN | INE872J01023 |
| Face value | ₹1.0 |
| Incorporated | 1991-12-13 |
| Website | https://dil-rjcorp.com |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.