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Devyani International Limited (DEVYANI.NS)

INR111.03 -0.32 (-0.29%)
IN NSE Consumer Cyclical Restaurants
Address Plot No.18 122001
Gurugram, HA, IN
CEO Manish Dawar
IPO 2021-08-16
ISIN INE872J01023

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Also trades on Bombay Stock Exchange · DEVYANI.BO (INR) National Stock Exchange of India · DEVYANI.NS (INR)
Description

Devyani International Limited (DIL) is a prominent operator of franchised quick-service dining establishments across India, Nepal, and Nigeria. Its business operations are segmented into three main areas: the Core Brands, which encompass KFC, Pizza Hut, and Costa Coffee outlets situated in India; the International Business segment, focusing on KFC and Pizza Hut locations in Nepal and Nigeria; and the Other Business division, which features its proprietary brands including Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Ckrussh Juice Bar. By March 31, 2022, DIL's extensive portfolio included 364 KFC outlets, 413 Pizza Hut locations, and 55 Costa Coffee shops. Additionally, its 'Other Business' segment managed 50 proprietary brand establishments. Established in 1991, the company maintains its headquarters in Gurugram, India, and functions as a subsidiary of RJ Corp Limited.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR111.03 -0.32 (-0.29%)
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Volume Profile
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Liquidity & share structure
Average Volume
4M
Beta
0.32
Float Shares
440.97M
Free Float %
35.8%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.03% -0.40% +9.56% -10.33% -17.23% -20.24% -35.41% -32.30% -4.45% -4.45% -4.45%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
111.03
DCF (Unlevered) 49.34 -55.6%
DCF (Levered) 31.58 -71.6%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 78% Bullish
Rating 2026-05 Change
Strong Buy 2 0
Buy 16 0
Hold 3 0
Sell 1 0
Strong Sell 1 -1
Quality scores
Altman Z-Score
2.59
Grey zone
Piotroski F-Score
4 / 9
Average
MOAT Score
4 / 10
Developing
Composite Rating
C
Overall Score
2 / 5
Medium
DCF Score
5 / 5
High
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
1 / 5
Low
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Restaurants: +7.4%
    +14.0% Q1'26: +21.5% (vs Q1'25)
  • EPS growth Restaurants: +14.8%
    -487.5% Q1'26: +33.3% (vs Q1'25)
  • FCF margin FCF growth · Restaurants: +21.6%
    +4.1% Q1'26: +15.3% (vs Q1'25)
  • EBIT margin Restaurants: +6.1%
    +3.6% Q1'26: +3.3% (vs Q1'25)
  • ROIC Restaurants: +6.2%
    +3.9% Q1'26: +2.7% (vs Q1'25)
  • Share dilution Restaurants: +0.0%
    +9.0% Q1'26: +2.2% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Restaurants: 0.72×
    4.48× Q1'26: 4.18× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.40) × ERP
WACC = 79% × Ke + 21% × Kd (7.2%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 49.34 Current price: 111.03
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2022
actual
Mar 2023
actual
Mar 2024
actual
Mar 2025
actual
Mar 2026
22 Rev. Ana.
12 EPS Ana.
Mar 2027
19 Rev. Ana.
10 EPS Ana.
Mar 2028
21 Rev. Ana.
13 EPS Ana.
Mar 2029
4 Rev. Ana.
2 EPS Ana.
Mar 2030
3 Rev. Ana.
Revenue
20.64B
est: 20.62B (+0.1%)
29.73B
est: 29.96B (-0.8%)
35.32B
est: 39.32B (-10.2%)
49.21B
est: 50.00B (-1.6%)
55.84B
55.18B – 57.72B
+11.7% YoY
62.94B
59.45B – 69.40B
+12.7% YoY
70.79B
65.78B – 78.21B
+12.5% YoY
83.31B
82.99B – 83.64B
+17.7% YoY
98.59B
92.31B – 108.82B
+18.3% YoY
EBITDA
4.63B
est: 4.30B (+7.8%)
6.62B
est: 6.25B (+5.9%)
5.73B
est: 8.18B (-30.0%)
8.45B
est: 10.40B (-18.8%)
11.62B
11.48B – 12.01B
+11.7% YoY
13.10B
12.37B – 14.44B
+12.7% YoY
14.73B
13.69B – 16.28B
+12.5% YoY
17.34B
17.27B – 17.40B
+17.7% YoY
20.51B
19.21B – 22.64B
+18.3% YoY
EBIT
2.46B
est: 1.74B (+41.4%)
3.86B
est: 2.53B (+53.0%)
1.91B
est: 3.29B (-42.1%)
2.78B
est: 4.18B (-33.6%)
4.67B
4.62B – 4.83B
+11.7% YoY
5.27B
4.97B – 5.81B
+12.7% YoY
5.92B
5.50B – 6.54B
+12.5% YoY
6.97B
6.94B – 7.00B
+17.7% YoY
8.25B
7.72B – 9.11B
+18.3% YoY
Net Income
1.56B
est: 1.55B (+1.2%)
2.65B
est: 2.61B (+1.6%)
472.63M
est: 656.11M (-28.0%)
91.49M
est: 716.46M (-87.2%)
-219.38M
-1.21B – 1.04B
-130.6% YoY
1.14B
220.29M – 1.24B
+621.6% YoY
1.56B
694.36M – 2.16B
+36.0% YoY
1.74B
1.72B – 1.76B
+11.6% YoY
— – —
-100.0% YoY
SGA
606.31M
est: 1.73B (-64.9%)
1.32B
est: 2.51B (-47.5%)
1.60B
est: 2.02B (-20.5%)
2.36B
est: 2.57B (-8.1%)
2.87B
2.83B – 2.96B
+11.7% YoY
3.23B
3.05B – 3.56B
+12.7% YoY
3.63B
3.38B – 4.01B
+12.5% YoY
4.28B
4.26B – 4.29B
+17.7% YoY
5.06B
4.74B – 5.58B
+18.3% YoY
EPS
1.32
est: 1.35 (-2.3%)
2.20
est: 2.25 (-2.2%)
0.39
est: 0.54 (-27.9%)
0.08
est: 0.61 (-86.9%)
-0.21
-1.06 – 0.91
-134.0% YoY
0.44
0.19 – 1.08
+314.3% YoY
1.19
0.61 – 1.89
+168.4% YoY
1.52
1.50 – 1.54
+27.4% YoY
— – —
-100.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-15 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-14 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-13 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-12 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-11 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-08 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-07 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-06 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-05 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-04 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-30 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-29 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-28 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-27 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-24 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-23 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-22 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-21 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-20 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-17 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-16 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
9.40B
OE per share TTM
7.75
Owner's Yield
6.34%
Maintenance CapEx ratio
2,824.67%
Maint CapEx / Avg PPE
77.1%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock

This company is not held by any ETF in our universe.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
123.0K
Shares Outstanding
1.23B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Virag Joshi President, Group Chief Executive Officer & Whole-Time Director 49M male
Manish Dawar CEO, President & Whole Time Director 48M male
Anupam Kumar Chief Financial Officer male
Arun Sharma Chief Executive officer of Brand male
Deepak Kumar Head of Finance male
Neeraj Tiwari Chief Technology Officer male
Pankaj Virmani Company Secretary & Compliance Officer male
Aditya Dev Pokhriya COO-Food Court male
Rajiv Kumar General Manager of Investor Relations male
Robinder Singh Business Head of Costa Coffee & Airports male
Rohan Kichlu CEO-Sanook & Tealive male
Sandeep Anand Chief Marketing Officer & Business Head of Pizza Hut male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits