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Resturants company Devyani International announced Q4FY24 & FY24 results:
- The operating Revenues for the FY24 is at Rs 35.6 billion growing at a health rate of 18.6% vs the previous financial year.
- The EBITDA for the full year 2023-24 closed at Rs 6.5 billion i.e. 18.3% of the revenue.
- During the quarter, consolidated revenues from operations (including Thailand) stood at Rs 10.5 billion with growth of 38.7% on YoY basis.
- Completes and seamlessly integrates RD Thailand acquisition
- Added 47 net new stores (including 5 KFC stores in Thailand)
- Total store count at 1,782 – to hit 2,000 stores in 2024, instead of 2026
- Enters into partnership with PVR INOX for operating food courts in Shopping Malls
Commenting on the performance for Q4 & FY24, Ravi Jaipuria, Non-Executive Chairman, Devyani International Limited said, " In 2024, we have diligently focused on our strategic expansion goals. Over the course of the year, we opened 256 new stores, including 47 in the fourth quarter. As of March 31, our total store count has reached 1,782, including the 283 KFC stores, we acquired in Thailand on January 18, 2024.
The year was also marked by successful acquisition and seamless integration of the Thailand KFC business. The transaction, which was completed during Q4, has been a significant milestone for us. This development has expanded our international footprint and the same is in line with our long-term growth objectives of having a mix of international business.
Alongside our global expansion, we have also been working on a strategy to enhance our domestic footprint of Food Courts business in response to India's emergence as a major destination for travel, tourism, and shopping. The domestic travel market is picking up very well and we are seeing religious tourism as one of the important thrust areas. India is also gaining importance in the international markets for medico tourism and a value for money shopping destination. All these changes are structural in nature and here to stay. There is a common theme that runs across this phenomenon and that is Food – ON The GO.
With this strategy, and to cater to the rising “QUICK” trend, we are making Food Courts, as one of the important pillars of our growth aspiration across various consumption channels and touch points of travel and shopping. Our existing bouquet of brands will help us with this strategy.
With this objective, I am pleased to state that DIL has entered, into a strategic partnership with PVR INOX to develop and operate the business of Food Courts at shopping malls across the Country to co-promote movies and food. This will not only help us strengthen our presence at various Malls in the Country but will also give a boost to our brands and the food court business."
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