Devyani International Ltd.

•

dil-rjcorp.comBSE: 543330NSE: DEVYANI

Market Cap₹ 17,008 Cr.

Current Price

High / Low₹ 189 / 92

Stock P/E—

Book Value₹ 13

Price to Book7.57

Dividend Yield0.00 %

ROCE9.0 %

ROE-3.2 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Consumer Services

Buy

Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.

Confidence

73%

View full sector analysis →

PROS

Latest quarter profit grew 667.7% YoY, showing strong momentum
Company has delivered good sales growth of 37.7% CAGR over last 5 years
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -40.82x)
Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of -1.6% over last 3 years
Interest coverage is weak at 0.8x - earnings barely cover interest
Company has a low return on capital employed of 11.9%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer ServicesFMCGConsumer Food

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	NESTLEIND	1384.00	70.03	266878.70	0.87	9586.80	1382.67	63781.80	1157.04	98.35	23.86
2.	VBL	416.25	41.58	140795.10	0.36	1525.36	15.08	8650.57	20.77	20.73	27.04
3.	BRITANNIA	4970.00	45.97	119711.54	1.82	593.38	14.08	4999.97	10.26	56.48	16.77
4.	JUBLFOOD	470.40	71.52	31039.12	0.26	100.03	6.03	2569.65	13.66	25.56	19.77
5.	HATSUN	1222.80	78.20	27237.66	0.49	60.58	—	2363.72	17.61	17.40	10.81
6.	MILKYMIST	293.30	177.78	22579.51	0.00	646.79	—	9734.46	—	13.79	14.77
7.	ZYDUSWELL	552.65	93.43	17583.15	0.22	118.90	-7.04	1437.00	67.54	4.42	16.82
8.	DEVYANI	137.95	0.00	17008.40	0.00	171.04	7576.84	15805.16	1064.74	8.98	16.09
9.	LTFOODS	437.85	23.74	15204.47	0.69	183.45	8.87	3151.83	27.92	19.77	11.26
10.	BIKAJI	548.50	53.20	13752.89	0.23	59.47	1.62	734.26	15.26	21.65	13.48
11.	MANORAMA	2063.45	52.81	13024.99	0.04	78.66	67.55	404.01	39.53	35.00	26.29
12.	KWIL	43.05	0.00	10114.99	0.00	50.70	354.77	878.30	99.34	—	11.77

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	847	819	843	1,047	1,222	1,222	1,294	1,213	1,357	1,377	1,441	1,437	1,581
	721	665	697	917	1,006	1,026	1,081	1,027	1,151	1,188	1,210	1,217	1,577
Operating Profit	126	154	146	130	216	196	213	186	206	189	231	220	4
OPM %	14.89%	18.84%	17.35%	12.44%	17.66%	16.01%	16.48%	15.34%	15.18%	13.74%	16.04%	15.34%	0.23%
	7	-7	5	14	10	5	9	13	14	8	-9	14	19
Interest	40	42	48	57	63	65	67	70	67	69	70	70	70
Depreciation	80	86	93	126	132	139	147	152	150	155	167	182	180
Profit before Tax	13	19	10	-38	31	-4	9	-22	3	-27	-15	-18	23
Tax %	112.35%	-88.38%	47.62%	-28.85%	26.53%	-25.90%	187.59%	25.26%	16.88%	19.56%	33.29%	26.22%	25.38%
Net Profit	0	0	0	0	22	-5	-8	-17	2	-24	-11	-10	17
	0.10	0.28	0.08	-0.06	0.25	0.00	0.00	-0.24	0.03	-0.16	-0.07	-0.19	0.12

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,047	1,111	1,357	1,516	1,135	2,084	2,998	3,556	4,951	5,611	5,835
	1,004	1,015	1,308	1,268	946	1,617	2,343	2,997	4,138	4,771	5,191
Operating Profit	43	96	49	248	188	467	655	559	813	841	644
OPM %	4.15%	8.61%	3.60%	16.38%	16.60%	22.41%	21.84%	15.72%	16.43%	14.99%	11.04%
	9	25	9	59	110	6	15	18	37	35	32
Interest	94	34	40	161	151	129	149	189	267	278	279
Depreciation	137	55	83	223	229	221	279	385	570	654	685
Profit before Tax	-178	30	-65	-77	-82	123	242	4	13	-57	-37
Tax %	-0.78%	-2.77%	-1.73%	-2.39%	1.30%	-25.97%	-8.51%	362.57%	153.96%	25.21%	24.76%
Net Profit	-180	31	-66	-79	-81	155	263	-10	-7	-43	-27
EPS	-11.31	4.25	-4.55	-1.14	-0.50	1.32	2.19	0.39	0.08	-0.31	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 19%
5 Years:: 38%
3 Years:: 23%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: 3%
3 Years:: -13%
1 Year:: -27%

RETURN ON EQUITY

10 Years:: -11%
5 Years:: 13%
3 Years:: -2%
Last Year:: -3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	106	106	106	106	115	120	120	121	121	123
Minority Interest	-20	-34	-46	-39	-42	-5	-6	293	308	343
	-30	22	-36	-305	-3	561	833	911	966	1,415
	251	357	521	1,696	1,236	1,144	1,472	2,618	2,790	3,105
Trade Payables	114	128	137	163	162	196	242	376	441	615
	175	145	93	256	191	197	228	563	655	1,148
Total Liabilities	596	725	776	1,876	1,659	2,214	2,889	4,881	5,281	6,750
	402	445	537	1,594	1,347	1,720	2,391	4,190	4,596	5,668
Capital Work in Progress	15	56	12	14	14	7	15	11	3	8
	4	0	0	0	0	0	0	0	1	2
	34	45	55	72	62	85	129	131	148	165
	0	0	0	0	0	0	0	53	41	64
Cash & Bank	37	45	27	16	41	66	85	181	181	495
	103	134	146	180	195	336	268	316	309	348
Total Assets	596	725	776	1,876	1,659	2,214	2,889	4,881	5,281	6,750

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	91	94	76	301	239	461	685	592	900	919
Cash from Investing	-66	-141	-168	-97	-359	-375	-350	-1,551	-462	-440
Cash from Financing	-32	56	71	-223	142	-58	-283	889	-425	-197
	-8	6	-20	-19	23	17	5	-69	13	282

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	62.73	62.72	62.72	62.72	62.62	61.42	61.37	61.36	61.36
	11.68	11.17	11.17	10.46	9.42	6.55	5.77	6.13	6.82
	14.19	15.38	15.46	16.87	18.09	19.76	19.44	19.33	18.84
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	11.40	10.73	10.64	9.95	9.88	12.28	13.42	13.17	12.98

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

General Updates

2026-09-10 - Devyani International Limited has informed the Exchange about disclosure under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Devyani International Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

Resignation of Director/KMP/SMP

2026-08-31 - Devyani International Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-31

Change in Management

2026-08-31 - Devyani International Limited has informed the Exchange about change in Senior Management Personnel

2026-08-31

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-31 - Devyani International Limited has informed the Exchange about Schedule of meet

2026-08-26

Scheme of Arrangement

2026-08-26 - Devyani International Limited has informed the Exchange about Amended Scheme of Arrangement

2026-08-26

Outcome of Board Meeting

2026-08-26 - Devyani International Limited has informed the Exchange regarding Outcome of Board Meeting held on August 26, 2026.

2026-08-26

General Updates

2026-08-26 - Devyani International Limited has informed the Exchange about voluntary strike-off of non-operational subsidiary of the Company

2026-08-14

Shareholders meeting

2026-08-14 - Devyani International Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 14, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report.

News

Recent coverage and analyst commentary for DEVYANI

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Devyani International Ltd.

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Name

NESTLEIND

1384.00

70.03

266878.70

0.87

9586.80

1382.67

63781.80

1157.04

98.35

23.86

VBL

416.25

41.58

140795.10

0.36

1525.36

15.08

8650.57

20.77

20.73

27.04

BRITANNIA

4970.00

45.97

119711.54

1.82

593.38

14.08

4999.97

10.26

56.48

16.77

JUBLFOOD

470.40

71.52

31039.12

0.26

100.03

6.03

2569.65

13.66

25.56

19.77

HATSUN

1222.80

78.20

27237.66

0.49

60.58

—

2363.72

17.61

17.40

10.81

MILKYMIST

293.30

177.78

22579.51

0.00

646.79

—

9734.46

—

13.79

14.77

ZYDUSWELL

552.65

93.43

17583.15

0.22

118.90

-7.04

1437.00

67.54

4.42

16.82

DEVYANI

137.95

0.00

17008.40

0.00

171.04

7576.84

15805.16

1064.74

8.98

16.09

LTFOODS

437.85

23.74

15204.47

0.69

183.45

8.87

3151.83

27.92

19.77

11.26

BIKAJI

548.50

53.20

13752.89

0.23

59.47

1.62

734.26

15.26

21.65

13.48

MANORAMA

2063.45

52.81

13024.99

0.04

78.66

67.55

404.01

39.53

35.00

26.29

KWIL

43.05

0.00

10114.99

0.00

50.70

354.77

878.30

99.34

—

11.77

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

847

819

843

1,047

1,222

1,294

1,213

1,357

1,377

1,441

1,437

1,581

721

665

697

917

1,006

1,026

1,081

1,027

1,151

1,188

1,210

1,217

1,577

Operating Profit

126

154

146

130

216

196

213

186

206

189

231

220

OPM %

14.89%

18.84%

17.35%

12.44%

17.66%

16.01%

16.48%

15.34%

15.18%

13.74%

16.04%

15.34%

0.23%

-7

-9

Interest

Depreciation

126

132

139

147

152

150

155

167

182

180

Profit before Tax

-38

-4

-22

-27

-15

-18

Tax %

112.35%

-88.38%

47.62%

-28.85%

26.53%

-25.90%

187.59%

25.26%

16.88%

19.56%

33.29%

26.22%

25.38%

Net Profit

-5

-8

-17

-24

-11

-10

0.10

0.28

0.08

-0.06

0.25

0.00

-0.24

0.03

-0.16

-0.07

-0.19

0.12

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,047

1,111

1,357

1,516

1,135

2,084

2,998

3,556

4,951

5,611

5,835

1,004

1,015

1,308

1,268

946

1,617

2,343

2,997

4,138

4,771

5,191

Operating Profit

248

188

467

655

559

813

841

644

OPM %

4.15%

8.61%

3.60%

16.38%

16.60%

22.41%

21.84%

15.72%

16.43%

14.99%

11.04%

110

Interest

161

151

129

149

189

267

278

279

Depreciation

137

223

229

221

279

385

570

654

685

Profit before Tax

-178

-65

-77

-82

123

242

-57

-37

Tax %

-0.78%

-2.77%

-1.73%

-2.39%

1.30%

-25.97%

-8.51%

362.57%

153.96%

25.21%

24.76%

Net Profit

-180

-66

-79

-81

155

263

-10

-7

-43

-27

EPS

-11.31

4.25

-4.55

-1.14

-0.50

1.32

2.19

0.39

0.08

-0.31

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

106

115

120

121

123

Minority Interest

-20

-34

-46

-39

-42

-5

-6

293

308

343

-30

-36

-305

-3

561

833

911

966

1,415

251

357

521

1,696

1,236

1,144

1,472

2,618

2,790

3,105

Trade Payables

114

128

137

163

162

196

242

376

441

615

175

145

256

191

197

228

563

655

1,148

Total Liabilities

596

725

776

1,876

1,659

2,214

2,889

4,881

5,281

6,750

402

445

537

1,594

1,347

1,720

2,391

4,190

4,596

5,668

Capital Work in Progress

129

131

148

165

Cash & Bank

181

495

103

134

146

180

195

336

268

316

309

348

Total Assets

596

725

776

1,876

1,659

2,214

2,889

4,881

5,281

6,750

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

301

239

461

685

592

900

919

Cash from Investing

-66

-141

-168

-97

-359

-375

-350

-1,551

-462

-440

Cash from Financing

-32

-223

142

-58

-283

889

-425

-197

-8

-20

-19

-69

282

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

62.73

62.72

62.62

61.42

61.37

61.36

11.68

11.17

10.46

9.42

6.55

5.77

6.13

6.82

14.19

15.38

15.46

16.87

18.09

19.76

19.44

19.33

18.84

Government

0.00

11.40

10.73

10.64

9.95

9.88

12.28

13.42

13.17

12.98

Devyani International Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Devyani International Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI