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Screener Research Unlisted Startup Funding

Krishan Varma    

Surat, India

Having hands on experience in relationship management with a demonstrated history of working with the Banks/NBFCs/Leading Brokerages house etc. Thus, having adequate knowledge of the Indian capital market where we acquire the retail/HNI clients for the MF SIPs/Lump Sum, F&O, Insurance, PMS and help them to make their future life wealthy.

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Contributor since: 2022







Devyani International Limited

Quarterly Analysis

Q3FY23 Quarterly Earnings

Strong momentum

81 net in new store stores addition in

239 NNUs YTD vs Q 192

1,1773 NNUs in 2 X PY store same count by period

March 23 vs March 20 system stores Revenue

performance at the end of the quarter

Revenue Performance

Q3 revenue from operations at Rs. 7,906 million - QOQ 6% growth ; YOY  27% growth

Steady performance from Core Brands 

KFC ADS at 116K ; PH ADS at 43K ; Costa ADS at 37K

Inflation impact on margin

Q3 GM at 69.3%

YTD GM - 70% vs 71% in PY

YTD Brand contribution - 19.4% vs 19.9% in PY

Q3FY23 Snapshot

New Store Openings

Core Brands and India - Regional Split

Business Performance

Financial Performance

Operating Margin


Business Overview

The company growing footprint strengthened brand accessibility in their existing markets and also took them closer to aspirational customers in small towns and emerging cities. The company added 100 new stores to reach 364 stores at the year-end. The roll-out of these stores has increased brand density and facilitated faster delivery to customers.

Catering to evolving customer expectations
The company continued to execute their strategy of setting up delivery-focused omnichannel stores aligned with the structural customer demand shift towards delivery from dine-in. The consistent effort towards setting up delivery-focused stores and strengthening their customer-facing digital interface is reflected in the share of their off-premise2  sales increasing from 37% to 44% during the year. 

Company's Presence

Company's Performance



I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Business relationship disclosure:

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Stocx Research Club). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure:

Source - Company's investor presentation and annual report. Disc - Not an recommendation

Disclosure legality:

I am not a SEBI Registered individual/entity and the above research article is only for educational purpose and is never intended as trading/investment advice.


Updated : Mar, 2023

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