Devyani International Ltd. (DEVYANI) AI Stock Analysis

• Market Cap: ₹209.24B
• Dividend Yield: N/A
• Average Volume (3M): 162.46K
• Price to Earnings (P/E): 1243.3
• Beta (1Y): 1.12
• Revenue Growth: 29.37%
• EPS Growth: -117.68%
• Country: IN
• Employees: 16,371
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Restaurants
• EPS (TTM): 0.00
• Shares Outstanding: 1,231,937,300
• 10 Day Avg. Volume: 81,460
• 30 Day Avg. Volume: 162,455
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹186.86
• Price Target Upside: 10.01% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 61 Neutral
• Price Target: ₹179.00 ▲(5.39% Upside)

Devyani International Ltd.'s overall stock score is driven primarily by its strong financial performance, which is offset by weak technical indicators and poor valuation metrics. The company's ability to maintain cash flow strength amidst increased leverage is crucial. The lack of earnings call data and corporate events means these factors do not influence the score.

Devyani International Ltd. Business Overview & Revenue Model

Company Description

Devyani International Limited operates a chain of franchised quick service restaurants in India, Nepal, and Nigeria. The company's Core Brands Business include KFC, Pizza Hut, and Costa Coffee stores operated in India; International Business comprise KFC and Pizza Hut stores operated in Nepal and Nigeria; and Other Business consists of its own brands, such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Ckrussh Juice Bar. As of March 31, 2022, it operated 605 stores, including g 364 KFC stores, 413 Pizza Hut stores, and 55 Costa Coffee stores; and Other Business operated 50 stores. The company was incorporated in 1991 and is based in Gurugram, India. Devyani International Limited is a subsidiary of RJ Corp Limited.

How the Company Makes Money

Devyani International Ltd. generates revenue primarily through its extensive network of franchised quick-service restaurants. The company earns money by operating outlets of established international brands like KFC, Pizza Hut, and Costa Coffee under franchise agreements. These agreements allow DEVYANI to leverage the brand power, marketing support, and product innovation of its franchisors. Revenue streams include the sale of food and beverages at these outlets, with a focus on dine-in, takeaway, and delivery services. The company benefits from economies of scale and cost efficiencies due to its large operational footprint. Additionally, strategic partnerships and marketing initiatives help drive customer traffic and sales, contributing to DEVYANI's earnings.

Devyani International Ltd. Financial Statement Overview

Summary

Devyani International Ltd. shows strong financial performance with significant revenue growth and improved cash flow generation. However, increased leverage and a lower net profit margin present potential risks.

Income Statement

Devyani International Ltd. has demonstrated a strong performance on its income statement. The gross profit margin improved from 45.6% in 2024 to 54.6% in 2025, indicating increased efficiency in cost management. Net profit margin grew from 1.3% in 2024 to 0.2% in 2025, showing a reduction in net profitability despite revenue growth. Revenue showed a robust growth rate of 39.2% from 2024 to 2025. EBIT margin significantly increased from 7.5% in 2024 to 54.6% in 2025. EBITDA margin decreased slightly, showing 17.0% in 2025 from 16.2% in 2024.

Balance Sheet

The balance sheet presents a mixed picture. The debt-to-equity ratio increased from 2.75 in 2024 to 2.91 in 2025, indicating higher leverage and potential financial risk. Return on equity improved from 4.5% in 2024 to 0.8% in 2025, implying improved but still moderate returns for equity investors. The equity ratio decreased from 21.4% to 20.5%, suggesting a slight increase in debt proportion relative to assets.

Cash Flow

Cash flow metrics are fairly strong, with free cash flow growing significantly by 258.8% from 2024 to 2025. The operating cash flow to net income ratio remains healthy at 98.4 in 2025, indicating strong cash generation relative to net income. Free cash flow to net income ratio increased, reinforcing the company's ability to generate cash exceeding net earnings.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2020
Income Statement
Total Revenue	49.51B	49.21B	35.56B	29.98B	20.64B	11.19B
Gross Profit	25.70B	27.02B	16.20B	11.95B	8.23B	2.88B
EBITDA	8.40B	8.42B	5.75B	6.64B	4.67B	2.94B
Net Income	148.93M	91.49M	472.63M	2.65B	1.56B	-552.08M
Balance Sheet
Total Assets	53.39B	53.39B	49.32B	29.85B	22.63B	16.68B
Cash, Cash Equivalents and Short-Term Investments	1.81B	1.81B	1.91B	841.07M	1.50B	399.69M
Total Debt	31.88B	31.88B	29.06B	15.65B	12.54B	13.28B
Total Liabilities	39.36B	39.36B	35.84B	20.21B	15.81B	15.97B
Stockholders Equity	10.94B	10.94B	10.56B	9.70B	6.86B	1.14B
Cash Flow
Free Cash Flow	0.00	4.09B	1.14B	2.00B	1.44B	1.02B
Operating Cash Flow	0.00	9.00B	5.92B	6.37B	4.51B	2.40B
Investing Cash Flow	0.00	-4.62B	-15.51B	-3.50B	-3.75B	-3.59B
Financing Cash Flow	0.00	-4.25B	8.89B	-2.83B	-583.51M	1.42B

Devyani International Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 169.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DEVYANI, the sentiment is Negative. The current price of 169.85 is below the 20-day moving average (MA) of 179.17, below the 50-day MA of 171.75, and below the 200-day MA of 171.13, indicating a bearish trend. The MACD of 0.60 indicates Positive momentum. The RSI at 40.11 is Neutral, neither overbought nor oversold. The STOCH value of 12.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DEVYANI.

Devyani International Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DEVYANI	61 Neutral	₹209.24B	1,243.32	―	―	29.37%	-117.68%
SAPPHIRE	61 Neutral	96.90B	1,102.38	1.38%	―	10.62%	-76.06%
WESTLIFE	59 Neutral	106.68B	1,050.60	2.01%	0.11%	5.80%	-76.79%
JUBLFOOD	58 Neutral	400.46B	161.75	10.02%	0.20%	35.46%	-42.08%
RBA	47 Neutral	46.03B	-20.24	-23.80%	―	5.21%	10.60%
BARBEQUE	43 Neutral	8.90B	-22.63	-7.66%	―	-0.97%	-181.39%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Devyani International Ltd. Corporate Events

Devyani International Ltd. Announces Digital AGM for 2025

Devyani International Ltd. has announced the scheduling of its 34th Annual General Meeting (AGM) to be held on July 28, 2025, via video conferencing and other audio-visual means. This move reflects the company’s adaptation to digital solutions for stakeholder engagement, ensuring compliance with regulatory requirements and facilitating shareholder participation through e-voting.