Devyani International Ltd. · NSE:DEVYANI
Devyani International — Q2 FY24 Earnings Presentation
38 slides from Devyani International's earnings presentation, Nov 7, 2023
Slide 1: Devyani International Limited – Regulation 30 filing letter
Devyani International Limited ________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Corporate Office : Plot No-18, Sector-35, Gur
Slide 2: Q2 FY24 Results Presentation
Q2 FY 24 Results Presentation Nov 7th, 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 DIL has maintained its store expansion pace. and We have opened 115 net new stores in H1 taking the total store count to 1,358 as on 30th Sep’23. Out of 115 stores in H1, we have opened 68 stores in Q2, across our brand portfolio. We are making c
Slide 5: Table of Contents
Table of Contents 1 H1 FY24 – At a Glance 2 Q2 FY24 – Results highlights 3 DIL Consolidated Performance 4 Core Brands Performance – KFC, Pizza Hut & Costa Coffee
Slide 6: H1 FY24 - Performance Highlights
H1 FY24 - Performance Highlights Continued momentum on store additions ▪ 115 NNUs in H1 FY24; Cumulative stores as of Sep 30, 2023 - 1,358 Revenue Performance ▪ Sales at Rs. 1,666 Cr ; 14.7% growth on YoY basis ▪ Steady performance from Core Brands o KFC – Rs. 1,025 Cr (18.1% YoY) ; PH – Rs. 367 Cr
Slide 7: Q2 FY24 - Performance Highlights
Q2 FY24 - Performance Highlights Continued momentum on store additions ▪ 68 NNUs in Q2 FY24; Cumulative stores as of Sep 30, 2023 - 1,358 Revenue Performance ▪ Sales at Rs. 819 Cr ; 9.6% growth on YoY basis ▪ Steady performance from Core Brands o KFC – Rs. 509 Cr (14.9% YoY); PH – Rs. 184 Cr (1.5% Y
Slide 8: New Store Openings
New Store Openings NET NEW UNITS (NNU) Stores as at Stores as at Stores as at 30 Sep 22 31 Mar 23 30 Sep 23 Brand Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY23 H1 FY24 KFC 32 38 29 20 30 126 50 423 490 540 PH 30 17 23 15 14 93 29 466 506 535 Costa 19 15 9 11 23 57 34 88 112 146 Vaango 4 3 4 0 1 16 1
Slide 9: Core Brands Stores; India – Regional split
Core Brands Stores; India – Regional split As on Sep 30, 2023 Sep 30, March 31, Sep 30, Core Brand Stores 2022 2023 2023 436 461 Delhi NCR 179 202 236 36% 38% Bangalore 118 132 141 North Kolkata 56 61 71 98 226 8% 18% Hyderabad 72 79 85 East Other Metro Cities 44 51 62 Total Metros * 469 525 595 Wes
Slide 10: Business Performance – DIL Consolidated
Business Performance – DIL Consolidated Revenue from Operations - Quarterly Revenue from Operations - Annual 1,096 1,177 1,243 1,290 1,358 Stores 610 692 938 1,243 1,358 7,906 8,466 7,474 7,550 8,195 29,977 20,840 15,164 16,661 11,348 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 F
Slide 11: Operating Margins – DIL Consolidated
Operating Margins – DIL Consolidated Gross Margin - Quarterly Gross Margin - Annual 70.2% 69.3% 69.6% 70.8% 70.8% GM % 69.6% 69.6% 71.2% 70.0% 70.8% 5,997 5,803 20,992 5,246 5,482 5,255 14,842 11,800 10,560 7,902 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Brand
Slide 12: Profitability – DIL Consolidated
Profitability – DIL Consolidated Operating EBITDA - Quarterly Operating EBITDA - Annual 15.1% 14.8% 12.1% 13.2% 11.5% % 3.8% 8.1% 14.4% 14.5% 12.4% 1,172 4,348 1,125 1,115 913 946 2,995 2,060 919 576 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Reported EBITDA - Q
Slide 13: Profitability – DIL Consolidated
Profitability – DIL Consolidated Profit before Tax - Quarterly Profit before Tax - Annual # 7.8% 8.1% 5.4% 1.5% 2.3% * % -7.9% -6.9% 5.9% 8.0% 1.9% 648 587 2,419 412 1,231 319 190 130 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 -824 -1,214 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Diluted EPS* – Quarterl
Slide 14: Performance Trend – DIL India
Performance Trend – DIL India Revenue from Operations Gross Margin 1,047 1,120 1,184 1,230 1,298 Stores % 70.5% 69.6% 70.0% 71.3% 71.2% 7,787 5,633 5,545 7,295 7,896 5,078 4,903 6,926 7,001 4,883 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 12.4% y/y growth Brand C
Slide 15: Core Brands – KFC – India
Core Brands – KFC – India
Slide 16: Q2 Net New Stores - 30
Q2 Net New Stores - 30 Yallagalhali , Bangalore Janipur , Jammu Kadappakada, Kollam Pallakal Mall , Kerela JMD , Gurgaon Phoenix Guntur, Andhra Pradesh
Slide 17: Business Performance – KFC
Business Performance – KFC Revenue from Operations - Quarterly Revenue from Operations - Annual 423 461 490 510 540 Stores 172 264 364 490 540 5,164 5,090 17,714 4,430 4,595 4,439 12,189 10,253 6,091 6,443 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 14.9% y/y gro
Slide 18: Financial Performance – KFC
Financial Performance – KFC Gross Margin - Quarterly Gross Margin - Annual 67.9% 67.6% 68.6% 69.7% 69.0% GM % 64.8% 67.7% 69.3% 68.3% 69.4% 3,599 3,512 12,095 3,010 3,108 3,046 8,444 7,111 3,950 4,360 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Brand Contribution
Slide 19: Channel wise Sales Mix - KFC
Channel wise Sales Mix - KFC KFC Sales Mix - Quarterly KFC Sales Mix - Annual 16% 36% 36% 38% 37% 39% Off-Premise 37% 36% 38% 44% On-Premise 84% 64% 64% 62% 63% 61% 63% 64% 62% 56% Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 On-Premise = Dine-in, Eat-in or Takeaw
Slide 20: KFC Marketing Campaigns
KFC Marketing Campaigns il dil 180+ celebrities, influencers, hyperlocal | pages and meme pages activated 494M+ Impressions total BuraeR ‘ALL CHICKEN.
Slide 21: Core Brands – Pizza Hut – India
Core Brands – Pizza Hut – India 21
Slide 22: Q2 Net New Stores - 14
Q2 Net New Stores - 14 Green Park, Delhi Mohali Sarojini Nagar, Delhi Oasis Mall, Dehradun Jagatpura, Jaipur
Slide 23: Business Performance – PH
Business Performance – PH Revenue from Operations - Quarterly Revenue from Operations - Annual 466 483 506 521 535 Stores 269 297 413 506 535 1,812 1,836 1,835 1,840 6,997 1,697 5,318 4,174 3,675 2,879 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 1.5% y/y growth A
Slide 24: Financial Performance – PH
Financial Performance – PH Gross Margin - Quarterly Gross Margin - Annual 74.5% 73.6% 73.3% 74.9% 75.7% GM % 74.9% 74.2% 75.6% 74.4% 75.3% 1,350 1,352 1,375 1,393 5,203 1,243 4,021 3,126 2,768 2,135 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Brand Contribution -
Slide 25: Channel wise Sales Mix
Channel wise Sales Mix PH Sales Mix - Quarterly PH Sales Mix - Annual Off-Premise 37% 55% 57% 58% 57% 55% 57% 56% 56% On-Premise 63% 63% 45% 43% 42% 43% 45% 43% 44% 44% 37% Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 On-Premise = Dine-in, Eat-in or Takeaway Off-P
Slide 26: New Initiatives
New Initiatives - 1 PLUS 1 WITHFI NON-SKIPPABLE VIDEOS er see (Se wahe Ra he a ee + Duration=4 weeks + TIMn# Video Views + SMn+ Reach + Frequency of Performance campaign: FREE products & coupons on OLO across month (More Details will be shared during the Month) + Video Views 4Mn+ Video Views 6Mn+ Re
Slide 27: Core Brands – Costa Coffee – India
Core Brands – Costa Coffee – India
Slide 28: Q2 Net New Stores 23
Q2 Net New Stores 23 Elan Town Centre, Gurgaon Janakpuri, Delhi Marengo Asia Hospital, Gurgaon Jammu AIRPORT, Jammu Film City, Noida SDA Market, Delhi
Slide 29: Business Performance – Costa
Business Performance – Costa Revenue from Operations - Quarterly Revenue from Operations - Annual 88 103 112 123 146 Stores 63 44 55 112 146 331 346 1,018 324 291 820 220 670 411 214 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 57.4% y/y growth ADS - Quarterly ADS
Slide 30: Financial Performance – Costa
Financial Performance – Costa Gross Margin - Quarterly Gross Margin - Annual 79.6% 77.8% 78.1% 77.3% 76.3% GM % 77.3% 78.5% 80.4% 79.0% 76.8% 259 264 804 250 226 634 175 514 330 168 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 2020 FY 2021 FY 2022 FY 2023 YTD FY24 Brand Contribution - Quarterly Brand
Slide 31: Marketing Initiatives
Marketing Initiatives @ a Refreshing mood lifters. Mouth-watering flavours. - YOu X COSTA COSTA COFFEE Buy any two 7 Cold Beverages | &geta Muffin Free!
Slide 32: DIL International: Nigeria and Nepal
DIL International Nigeria Nepal 38 Stores 22 Stores Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 FY 22 FY23 Exit Stores 49 57 59 60 60 46 59 Revenue from Operations (INR Mn) 559 622 555 580 416 1,902 2,271 ADS (INR ‘000’) 134 134 110 111 79 132 127 37
Slide 33: Summary Financials
Summary Financials
Slide 34: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Million) Q2’FY23 Q1’ FY24 Q2’ FY24 FY23 H1 FY24 Revenue from Operations 7,474 8,466 8,195 29,977 16,661 Other Income 45 68 66 326 134 Total Income 7,519 8,535 8,260 30,303 16,795 Raw Material Cost 2,229 2,468 2,393 8,986 4,861 Gross Profit 5,246
Slide 35: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (Rs. Million) 30-Sep-22 31-Mar-23 30-Sep-23 Particulars (Rs. Million) 30-Sep-22 31-Mar-23 30-Sep-23 Equity Share Capital 1,205 1,205 1,206 (a) Property, plant and equipment 7,769 9,470 10,286 Other equity 7,036 8,499 9,149 (b) Capital work-in-progress 100 153 1
Slide 36: Q2 FY24 Conference Call on November 07, 2023
Devyani International’s Q2 FY24 Conference Call on Tuesday, November 07, 2023 at 4:00 PM IST Devyani International Limited (DIL), a multi-dimensional comprehensive QSR player in India, will host a conference call for investors and analysts on Tuesday, November 07, 2023 at 4:00 PM IST to discuss its
Slide 37: 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 1,358 stores across more than 244 cities in India, Nigeria and Nepal, as of Septe
Slide 38: Thank You!
DEVYANI INTERNATIONAL LIMITED Thank You!
Devyani International — Q2 FY24 Earnings Presentation on 6ix