Devyani International signs three new franchise agreements, revenue rises 49% in Q2

Devyani International Limited (DIL), one of the Quick Service Restaurant (QSR) operators in India, has announced its financial results for the quarter ended September 30, 2024. In the second quarter of FY 2025, the QSR operator opened 85 net new stores. The consolidated revenues stood at Rs. 12.2 billion, recording a growth of 49% vs Q2 FY 2024. The consolidated reported EBITDA closed at Rs 2.0 billion, with margin at 16.3% vs. 18.3% in the previous quarter.

In H1 FY 2025, DIL opened 139 net new stores. The consolidated Revenues stood at Rs. 24.4 billion, growth of 47% vs H1 FY 2024 and the consolidated reported EBITDA closed at Rs. 4.2 billion, with margin at 17.3% vs. 19.9% in H1 FY24.

Devyani International has further expanded its portfolio by securing exclusive master franchise rights for three modern QSR brands: TeaLive, New York Fries, and SANOOK KITCHEN.

Commenting on the performance for Q2 FY 2025, Ravi Jaipuria, Non-Executive Chairman, Devyani International Limited said, “We are happy to welcome new brands to DIL family, catering to youth categories such as handcrafted tea, fresh cut fries and authentic Thai & Asian cuisine. The new partnerships reflect our commitment to bringing diverse, high-quality contemporary food & beverages brands to our customers, while driving sustainable growth for DIL. With exclusive rights for these brands in India, DIL is consolidating its strategy of ‘FOOD ON THE GO’ and ‘HOUSE OF BRANDS’.

"We remain committed to our investments across DIL’s brand portfolio to broaden our reach, engage target consumers, and seize growth opportunities across the country. While we recognize the current subdued environment in the QSR industry, we are confident that the current headwinds are transient in nature. As firm believers in India’s growth story, we are well-positioned to capitalize on future opportunities and delivering value to all our stakeholders,” he added.