Quick Service Restaurant
Quick Service Restaurant - QSR
from 118 today
Devyani International delivered broad-based growth in Q1FY27 with consolidated revenue rising 17% to Rs15.8bn, aided by positive SSSG, disciplined store expansion, and international strength. We maintain our BUY rating on the stock with a revised target price of Rs160, valuing it at 16x FY28e EV/E.
We maintain HOLD with a revised target price of INR 123, based on 1HFY29 SoTP valuation, as outlook remains challenging due to inflationary operating expenses, higher promotional investments, and gradual revival of Pizza Hut.
KFC's performance remains encouraging with healthy SSSG and sustained margin improvement, and operating leverage will support earnings growth. We reiterate our BUY rating with a target price of INR160 based on 25x Mar'28E EV/EBITDA.
Q1FY27 was robust, led by healthy revenue growth, margin expansion and a return to meaningful profitability, with KFC remaining the key growth engine. We upgrade to a Buy recommendation with a revised price target of Rs. 155.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
