Devyani International Ltd. · NSE:DEVYANI
Devyani International — Q1 FY24 Earnings Presentation
42 slides from Devyani International's earnings presentation, Aug 4, 2023
Slide 1: Regulation 30 filing cover letter to stock exchanges
Devyani International Limited ________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Corporate Office : Plot No-18, Sector-35, Gur
Slide 2: Q1 FY24 Results Presentation
Q1 FY 24 Results Presentation Aug 4th, 2023
Slide 3: Disclaimer
Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase any securities (“Securities”) of Devyani International Limited (the “Company”) in India, the Uni
Slide 4: Chairman Comments… excerpts
Chairman Comments…excerpts I am pleased to share that we have started the new fiscal year on a healthy note, despite facing challenges from a difficult macro environment and depressed consumer spending. Our commitment to “Customer First – Always”, driving product innovation, and enhancing scalabilit
Slide 5: Table of Contents
Table of Contents 1 Q1 FY24 – Results highlights 2 DIL Consolidated Performance 3 Core Brands Performance – KFC, Pizza Hut & Costa Coffee
Slide 6: Q1 FY24 - Performance Highlights
Q1 FY24 - Performance Highlights Continued momentum on store additions ▪ 47 NNUs in Q1 FY24; Cumulative stores as of June 30, 2023 - 1,290 Revenue Performance ▪ Sales at Rs. 847 Cr ; 12% growth on QoQ basis (20% YoY basis) ▪ Steady performance from Core Brands o KFC – Rs. 516 Cr (16% QoQ) ; PH – Rs.
Slide 7: New Store Openings
New Store Openings NET NEW UNITS (NNU) Stores as at Stores as at Stores as at 30 June 22 31 March 23 30 June 23 Brand Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY23 KFC 27 32 38 29 20 126 391 490 510 PH 23 30 17 23 15 93 436 506 521 Costa 14 19 15 9 11 57 69 112 123 Vaango 5 4 3 4 0 16 41 52 52 Others
Slide 8: Core Brands Stores; India – Regional split
Core Brands Stores; India – Regional split As on June 30, 2023 June 30, March 31, June 30, Core Brand Stores 2022 2023 2023 421 422 Delhi NCR 161 202 210 36% 37% Bangalore 108 132 136 North Kolkata 55 61 65 96 215 Hyderabad 65 79 83 8% 19% East Other Metro Cities 38 51 61 Total Metros * 427 525 555
Slide 9: Business Performance – DIL Consolidated
Business Performance – DIL Consolidated Revenue from Operations - Quarterly Revenue from Operations - Annual 1,008 1,096 1,177 1,243 1,290 Stores 610 692 938 1,243 1,290 7,906 8,466 7,474 7,550 29,977 7,047 20,840 15,164 11,348 8,466 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY
Slide 10: Operating Margins – DIL Consolidated
Operating Margins – DIL Consolidated Gross Margin - Quarterly Gross Margin - Annual 71.1% 70.2% 69.3% 69.6% 70.8% GM % 69.6% 69.6% 71.2% 70.0% 70.8% 5,997 20,992 5,246 5,482 5,255 5,010 14,842 10,560 7,902 5,997 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Brand C
Slide 11: Profitability – DIL Consolidated
Profitability – DIL Consolidated Operating EBITDA - Quarterly Operating EBITDA - Annual 16.1% 15.1% 14.8% 12.1% 13.2% % 3.8% 8.1% 14.4% 14.5% 13.2% 1,137 1,125 1,172 4,348 1,115 913 2,995 919 1,115 576 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Reported EBITDA -
Slide 12: Profitability – DIL Consolidated
Profitability – DIL Consolidated Profit before Tax - Quarterly Profit before Tax - Annual # # 10.8% 7.8% 8.1% 5.4% 1.5% % -7.9% -6.9% 5.9% 8.0% 1.5% 771 2,419 648 587 1,231 412 130 130 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 -824 -1,214 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Diluted EPS* – Quarter
Slide 13: Performance Trend – DIL India
Performance Trend – DIL India Revenue from Operations Gross Margin 961 1,047 1,120 1,184 1,230 Stores % 71.2% 70.5% 69.6% 70.0% 71.3% 7,896 5,633 7,295 4,883 5,078 4,903 6,926 7,001 4,644 6,521 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 21.1% y/y growth Brand Con
Slide 14: Core Brands – KFC – India
Core Brands – KFC – India
Slide 15: Q1 Net New Stores - 20
Q1 Net New Stores - 20 SIOLIM, GOA ELAN MARCADO, GGN BRIGADE ORION, BLR ESPALANDE, KOLKATA R R PETA, ELURU SAHARA ESTATE, HYD
Slide 16: Business Performance – KFC
Business Performance – KFC Revenue from Operations - Quarterly Revenue from Operations - Annual 391 423 461 490 510 Stores 172 264 364 490 510 5,164 17,714 4,430 4,595 4,439 4,250 12,189 6,091 6,443 5,164 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 21.5% y/y grow
Slide 17: Financial Performance – KFC
Financial Performance – KFC Gross Margin - Quarterly Gross Margin - Annual 69.0% 67.9% 67.6% 68.6% 69.7% GM % 64.8% 67.7% 69.3% 68.3% 69.7% 3,599 12,095 2,932 3,010 3,108 3,046 8,444 3,950 4,360 3,599 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Brand Contribution
Slide 18: Channel wise Sales Mix - KFC
Channel wise Sales Mix - KFC KFC Sales Mix - Quarterly KFC Sales Mix - Annual 16% 35% 36% 36% 37% Off-Premise 38% 37% 36% 37% 44% On-Premise 84% 65% 64% 64% 62% 63% 63% 64% 63% 56% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 On-Premise = Dine-in, Eat-in or Takeaw
Slide 19: KFC Marketing Campaigns
KFC Marketing Campaigns
Slide 20: Core Brands – Pizza Hut – India
Core Brands – Pizza Hut – India 20
Slide 21: Q1 Net New Stores - 15
Q1 Net New Stores - 15 JANAK PURI, DELHI LOTUS PARK, PUNE KANKARBAGH, PATNA PPR MALL, JALANDHAR DT CITY CENTER, GGN
Slide 22: Business Performance – PH
Business Performance – PH Revenue from Operations - Quarterly Revenue from Operations - Annual 436 466 483 506 521 Stores 269 297 413 506 521 1,812 1,836 1,835 1,651 1,697 6,997 5,318 4,174 2,879 1,835 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 11.1% y/y growth
Slide 23: Financial Performance – PH
Financial Performance – PH Gross Margin - Quarterly Gross Margin - Annual 76.2% 74.5% 73.6% 73.3% 74.9% GM % 74.9% 74.2% 75.6% 74.4% 74.9% 1,350 1,352 1,375 5,203 1,258 1,243 4,021 3,126 2,135 1,375 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Brand Contribution -
Slide 24: Channel wise Sales Mix
Channel wise Sales Mix PH Sales Mix - Quarterly PH Sales Mix - Annual Off-Premise 37% 54% 55% 57% 58% 57% 57% 56% 57% On-Premise 63% 63% 46% 45% 43% 42% 43% 43% 44% 43% 37% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 On-Premise = Dine-in, Eat-in or Takeaway Off-P
Slide 25: New Initiatives
New Initiatives
Slide 26: Core Brands – Costa Coffee – India
Core Brands – Costa Coffee – India
Slide 27: Q1 Net New Stores 11
Q1 Net New Stores 11 DEHRADUN GOLDEN I MALL, NOIDA VERSOVA, MUMBAI KANNUR AIRPORT DT CITY CENTER, GGN
Slide 28: Business Performance – Costa
Business Performance – Costa Revenue from Operations - Quarterly Revenue from Operations - Annual 69 88 103 112 123 Stores 63 44 55 112 123 331 324 291 1,018 220 820 176 411 324 214 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 83.4% y/y growth ADS - Quarterly ADS
Slide 29: Financial Performance – Costa
Financial Performance – Costa Gross Margin - Quarterly Gross Margin - Annual 81.6% 79.6% 77.8% 78.1% 77.3% GM % 77.3% 78.5% 80.4% 79.0% 77.3% 259 804 250 226 634 175 144 330 250 168 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Brand Contribution - Quarterly Brand
Slide 30: Marketing Initiatives
Marketing Initiatives @ dil
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Slide 32: Store highlights
Store highlights SOUTH CITY MALL, KOLKATA GRAND VENICE MALL, NOIDA EMERALD MALL, LUCKNOW UTKAL MALL, BHUBANESHWAR LULU MALL, LUCKNOW
Slide 33: Business Performance – Vaango
Business Performance – Vaango Revenue from Operations - Quarterly Revenue from Operations - Annual 41 45 48 52 52 Stores 36 27 36 52 52 144 152 565 129 133 519 114 267 143 152 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 ADS - Quarterly ADS - Annual 208.2% 41.1% S
Slide 34: Financial Performance - Vaango
Financial Performance - Vaango Gross Margin - Quarterly Gross Margin - Annual 80.9% 81.5% 79.1% 79.7% 79.3% GM % 80.9% 80.8% 81.6% 80.2% 79.3% 457 121 416 114 105 106 92 218 115 121 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Brand Contribution - Quarterly Brand
Slide 35: Vaango Marketing Campaigns
Vaango Marketing Campaigns 35
Slide 36: DIL International Nigeria Nepal
DIL International Nigeria Nepal 38 Stores 22 Stores Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 FY 22 FY23 Exit Stores 47 49 57 59 60 46 59 Revenue from Operations (INR Mn) 535 559 622 555 580 1,902 2,271 ADS (INR ‘000’) 132 134 134 110 111 132 127 36
Slide 37: Awards
Awards • Master Franchisee of the Year Award for 2023 by Franchise India • The Next 500 companies for 2023 by the Fortune India Magazine
Slide 38: Summary Financials
Summary Financials
Slide 39: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Million) Q1’FY23 Q4’ FY23 Q1’ FY24 FY22 FY23 Revenue from Operations 7,047 7,550 8,466 20,840 29,977 Other Income 90 110 68 161 326 Total Income 7,137 7,660 8,535 21,001 30,303 Raw Material Cost 2,037 2,296 2,468 5,998 8,986 Gross Profit 5,010 5,
Slide 40: Devyani International’s Q1 FY24 Conference Call
Devyani International’s Q1 FY24 Conference Call on Friday, August 04, 2023 at 3:30 PM IST Devyani International Limited (DIL), a multi-dimensional comprehensive QSR player in India, will host a conference call for investors and analysts on Friday, August 04, 2023 at 3:30 PM IST to discuss its result
Slide 41: About Us
About Us Devyani International Limited (DIL) is the largest franchisee of Yum Brands in India and is among the largest operators of chain quick service restaurants (QSR) in India, on a non-exclusive basis, and operates 1,290 stores across more than 242 cities in India, Nigeria and Nepal, as of June
Slide 42: Thank You!
DEVYANI INTERNATIONAL LIMITED Thank You!
Devyani International — Q1 FY24 Earnings Presentation on 6ix