DEVYANI INTERNATIONAL LIMITED Financials Devyani International Limited Bombay S.E.
Equities
DEVYANI
INE872J01023
Restaurants & Bars
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 162.8 INR | -1.66% |
|
-3.64% | -15.84% |
| Apr. 24 | New outlets, cheaper options fail to revive fast-food earnings in India | RE |
| Apr. 20 | Devyani International Limited Announces Cessation of Naresh Trehan as Independent Director | CI |
Valuation
| Fiscal Period: March | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Capitalization 1 | 210,874 | 174,298 | 196,413 | - | - |
| Enterprise Value (EV) 1 | 223,059 | 189,094 | 213,247 | 213,507 | 212,595 |
| P/E ratio | 133 x | 66.1 x | 189 x | 103 x | 66.1 x |
| Yield | - | - | - | - | - |
| Capitalization / Revenue | 10.1 x | 5.81 x | 5.79 x | 4.74 x | 3.94 x |
| EV / Revenue | 10.7 x | 6.31 x | 6.28 x | 5.15 x | 4.26 x |
| EV / EBITDA | 46.9 x | 28.9 x | 33.1 x | 25.1 x | 19.7 x |
| EV / FCF | 142 x | 88.8 x | 107 x | 50.7 x | 36.6 x |
| FCF Yield | 0.71% | 1.13% | 0.94% | 1.97% | 2.73% |
| Price to Book | 30.8 x | 18 x | 18.7 x | 16.4 x | 13.5 x |
| Nbr of stocks (in thousands) | 1,203,274 | 1,204,961 | 1,206,096 | - | - |
| Reference price 2 | 175.2 | 144.6 | 162.8 | 162.8 | 162.8 |
| Announcement Date | 5/2/22 | 5/17/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Net sales 1 | - | 20,840 | 29,977 | 33,948 | 41,451 | 49,896 |
| EBITDA 1 | - | 4,760 | 6,551 | 6,446 | 8,522 | 10,815 |
| EBIT 1 | - | 2,511 | 3,769 | 2,864 | 4,307 | 5,949 |
| Operating Margin | - | 12.05% | 12.57% | 8.44% | 10.39% | 11.92% |
| Earnings before Tax (EBT) 1 | - | 1,231 | 2,419 | 1,120 | 2,568 | 3,950 |
| Net income 1 | -552.1 | 1,563 | 2,650 | 865.3 | 1,906 | 2,930 |
| Net margin | - | 7.5% | 8.84% | 2.55% | 4.6% | 5.87% |
| EPS 2 | - | 1.320 | 2.190 | 0.8621 | 1.585 | 2.465 |
| Free Cash Flow 1 | - | 1,576 | 2,130 | 1,998 | 4,215 | 5,803 |
| FCF margin | - | 7.56% | 7.1% | 5.89% | 10.17% | 11.63% |
| FCF Conversion (EBITDA) | - | 33.11% | 32.51% | 31% | 49.45% | 53.66% |
| FCF Conversion (Net income) | - | 100.82% | 80.37% | 230.93% | 221.08% | 198.04% |
| Dividend per Share 2 | - | - | - | - | - | - |
| Announcement Date | 5/14/21 | 5/2/22 | 5/17/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 6,244 | 5,907 | 7,047 | 7,474 | 7,906 | 7,550 | 8,466 | 8,649 | 8,846 | 8,174 | 10,238 |
| EBITDA 1 | - | 1,478 | 1,433 | 1,647 | 1,664 | 1,739 | 1,513 | 1,734 | 1,658 | 1,767 | 1,414 | - |
| EBIT 1 | - | - | - | 1,010 | 1,003 | 1,033 | 722.5 | 938.4 | 809.6 | 734.9 | 554.4 | 1,191 |
| Operating Margin | - | - | - | 14.33% | 13.43% | 13.07% | 9.57% | 11.08% | 9.36% | 8.31% | 6.78% | 11.64% |
| Earnings before Tax (EBT) 1 | - | - | - | 771.4 | 587.6 | 647.9 | 412.3 | 129.6 | 333 | 462.3 | 660 | - |
| Net income 1 | 457 | 631.2 | 763.9 | 738.5 | 587.6 | 716.7 | 607.2 | 117.6 | 387 | 348 | 195.3 | - |
| Net margin | - | 10.11% | 12.93% | 10.48% | 7.86% | 9.06% | 8.04% | 1.39% | 4.47% | 3.93% | 2.39% | - |
| EPS 2 | - | - | - | 0.6100 | 0.4900 | 0.5900 | 0.5000 | 0.1000 | 0.2000 | - | 0.2437 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/1/21 | 2/4/22 | 5/2/22 | 8/3/22 | 11/3/22 | 2/9/23 | 5/17/23 | 8/4/23 | - | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | 12,186 | 14,797 | 16,834 | 17,095 | 16,183 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 2.56 x | 2.259 x | 2.611 x | 2.006 x | 1.496 x |
| Free Cash Flow 1 | - | 1,576 | 2,130 | 1,998 | 4,215 | 5,803 |
| ROE (net income / shareholders' equity) | - | 43.4% | 32% | 11.4% | 17.1% | 21.3% |
| ROA (Net income/ Total Assets) | - | 8.82% | 10.1% | 4.64% | 6.19% | 7.7% |
| Assets 1 | - | 17,716 | 26,255 | 18,631 | 30,796 | 38,058 |
| Book Value Per Share 2 | - | 5.700 | 8.020 | 8.720 | 9.910 | 12.00 |
| Cash Flow per Share 2 | - | 3.740 | 5.260 | 4.240 | 7.610 | 9.330 |
| Capex 1 | - | 2,930 | 4,240 | 3,947 | 3,837 | 3,921 |
| Capex / Sales | - | 14.06% | 14.14% | 11.63% | 9.26% | 7.86% |
| Announcement Date | 5/14/21 | 5/2/22 | 5/17/23 | - | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
D
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
162.8
INR
Average target price
185.6
INR
Spread / Average Target
+13.95%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.23% | 195B | |
| +39.67% | 86.67B | |
| +4.40% | 37.79B | |
| -0.36% | 24.69B | |
| -3.79% | 23.99B | |
| +26.84% | 17.92B | |
| -11.40% | 14.99B | |
| +54.49% | 11.41B | |
| +3.83% | 7.5B |
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