Devyani International Ltd - Stock Valuation and Financial Performance

BSE: 543330 | NSE: DEVYANI | Consumer Food | Small Cap

Devyani International Share Price

152.25 1.10 0.73%
as on 18-May'24 12:10

DeciZen - make an informed investing decision on Devyani International

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Semi Strong

Devyani International stock performance -

mw4me loader
P/E Ratio (CD):
388.52
Market Cap:
18,362.8 Cr.
52-wk low:
142.3
52-wk high:
227.8

Is Devyani International Ltd an attractive stock to invest in?

1. Is Devyani International Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Devyani International Ltd is a average quality company.

2. Is Devyani International Ltd undervalued or overvalued?

The key valuation ratios of Devyani International Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Devyani International Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Devyani International Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Devyani International:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Devyani International Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%0%-16.9%-11.4%17.3%-3.8%7%1.4%38.4%41.2%-
Value Creation
Index
NANA-2.3-1.80.3-1.3NA-0.91.92.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 001,0121,0481,1111,3571,5161,1352,0842,9983,556
Sales YoY Gr.-NANA3.5%6%22.2%11.8%-25.2%83.6%43.8%-
Adj EPS 00-1.2-1.10.5-0.4-0.8-0.91.42.30.4
YoY Gr.-NANANANA-193.6%NANANA64.3%-
BVPS (₹) 001.70.71.20.7-1.915.77.98.8
Adj Net
Profit
00-126-11950.2-47-83.3-10016927747
Cash Flow from Ops. 0076.590.39176.1301240451637-
Debt/CF from Ops. 004.63.44.16.41.81.90.30.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA22%25.5%43.8%
Adj EPS NA37.4%NA64.3%
BVPSNA45.6%NA39.9%
Share Price - - - -17.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
00-71.4-90.344.4-42.5155.3265.542.333.54.7
Op. Profit
Mgn %
000.44.49.23.818.317.422.521.918.2
Net Profit
Mgn %
00-12.6-173.2-4.8-5.5-9.58.19.21.3
Debt to
Equity
00242.96.9-2.74.10.20.10.7
Working Cap
Days
0004952515068524618
Cash Conv.
Cycle
000-28-35-28-22-28-22-17-17

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 25.50%

Sales growth is good in last 4 quarters at 18.78%

Return on Equity has declined versus last 3 years average to 4.70%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - Devyani International Ltd.

Standalone Consolidated
TTM EPS (₹) -0.1 0.4
TTM Sales (₹ Cr.) 3,116 3,556
BVPS (₹.) 9 8.8
Reserves (₹ Cr.) 969 936
P/BV 16.85 17.38
PE 0.00 388.52
From the Market
52 Week Low / High (₹) 142.30 / 227.75
All Time Low / High (₹) 107.70 / 227.75
Market Cap (₹ Cr.) 18,363
Equity (₹ Cr.) 120.6
Face Value (₹) 1
Industry PE 66.9

Management X-Ray of Devyani International:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

Login/Register to view analysis.

Analyst's Notes

Key Ratios of Devyani International

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,0121,0471,1111,3571,5161,1352,0842,998
Operating Expenses 1,0111,0041,0151,3081,2689461,6172,343
Manufacturing Costs179172178218247189328501
Material Costs310321337407460345600899
Employee Cost 177174172210225154248345
Other Costs 346336328472335258440598
Operating Profit 1439649248188467655
Operating Profit Margin (%) 0.1%4.2%8.6%3.6%16.4%16.6%22.4%21.8%
Other Income 2925924642335
Interest 47943440161151129149
Depreciation 851375583223229221279
Exceptional Items 00003546-17-20
Profit Before Tax -129-17830-65-77-82123242
Tax 11-112-1-32-21
Profit After Tax -130-18031-66-79-81155263
PAT Margin (%) -12.8%-17.2%2.8%-4.9%-5.2%-7.2%7.4%8.8%
Adjusted EPS (₹)-1.2-1.10.4-0.5-1.2-0.51.32.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1757612871-199112682954
Share Capital 106106106106106115120120
Reserves 69-3022-36-305-3561833
Minority Interest25-20-34-46-39-42-5-6
Debt27321931340043138010877
Long Term Debt24121127233234035910777
Short Term Debt3284168902101
Trade Payables108114128137163162196242
Others Liabilities 1382071902141,5211,0461,2331,625
Total Liabilities 7205967257761,8761,6592,2142,892

Fixed Assets

Gross Block9135266108022,0321,7412,3553,271
Accumulated Depreciation381123165207392346584832
Net Fixed Assets5324024455951,6411,3951,7712,439
CWIP 381556121414715
Investments 04000000
Inventories39344555726285129
Trade Receivables1518182317172129
Cash Equivalents 4637452716416685
Others Assets508511565117130264194
Total Assets 7205967257761,8761,6592,2142,892

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 76909176301240451637
PBT -129-17830-65-120-64123242
Adjustment 16924893147399263322418
Changes in Working Capital 3922-29-522401625
Tax Paid -20-30-10-10-48
Cash Flow From Investing Activity -70-66-141-168-97-359-375-350
Capex -71-69-140-170-99-363-293-424
Net Investments 0-3-2002-9169
Others 16112295
Cash Flow From Financing Activity -2-325671-223142-58-283
Net Proceeds from Shares 1022003484492
Net Proceeds from Borrowing 00013015-5-312-61
Interest Paid -36-24-27-34-156-132-123-143
Dividend Paid 00000000
Others 24-1081-25-82-69-72-81
Net Cash Flow 5-86-20-1923175
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-74.03-143.0130.46-66.91N/A039.0632.1
ROCE (%)-15.69-18.3114.13-4.67N/A14.7836.0941.92
Asset Turnover Ratio1.411.591.681.811.140.641.081.17
PAT to CFO Conversion(x)N/AN/A2.94N/AN/AN/A2.912.42
Working Capital Days
Receivable Days56665633
Inventory Days1413131315221313
Payable Days12712613111911917210989

Devyani International Ltd Stock News

Devyani International Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Devyani International on 18-May-2024 12:10 is ₹152.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-May-2024 12:10 the market cap of Devyani International stood at ₹18,362.8.
The latest P/E ratio of Devyani International as of 18-May-2024 12:10 is 0.00.
The latest P/B ratio of Devyani International as of 18-May-2024 12:10 is 16.85.
The 52-week high of Devyani International is ₹227.8 and the 52-week low is ₹142.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Devyani International is ₹3,116 ( Cr.) .

About Devyani International Ltd

Devyani International is the largest franchisee of Yum Brands in India and are among the largest operators of chain quick service restaurants (QSR) in India, on a non-exclusive basis, and operate 655 stores across 155 cities in India, as of March 31, 2021, and 696 stores across 166 cities in India, as of June 30, 2021. Yum! Brands Inc. operates brands such as KFC, Pizza Hut and Taco Bell brands and has presence globally with more than 50,000 restaurants in over 150 countries, as of December 31, 20201. In addition, it is a franchisee for the Costa Coffee brand and stores in India.

The company’s business is broadly classified into three verticals that includes stores of KFC, Pizza Hut and Costa Coffee operated in India (KFC, Pizza Hut and Costa Coffee referred to as Core Brands, and such business in India referred to as the Core Brands Business); stores operated outside India primarily comprising KFC and Pizza Hut stores operated in Nepal and Nigeria (International Business); and certain other operations in the F&B industry, including stores of its own brands such as Vaango and Food Street (Other Business).

Business area of the company

The company is the largest franchisee of Yum Brands in India and is among the largest chain operators of quick service restaurants (QSR) in India on a non-exclusive basis.

Awards and accreditations

  • 2015: The Company’s brand Vaango was recognised as a “Promising Brand” by the Economic Times.
  • 2018: The company was certified as a “Great Workplace” by the Great Place to Work Institute, India.
  • 2018: Costa Coffee (T3 International Departure Pier) was awarded the Certificate of Excellence for Outlet of the Year- F&B (International)” by Delhi International Airport Limited at the IGIA Awards 2018.
  • 2018: Grid Bar (T3 Domestic Departure Food Court) was awarded the Certificate of Excellence for Outlet of the Year- F&B (Domestic) by Delhi International Airport Limited at the IGIA Awards 2018.
  • 2019: Pizza Hut and KFC were recognised among the “Most Trusted Brands” in Food Services category in Brand Equity Survey conducted by The Economic Times.
  • 2020: The company was recognised as one of “India’s 100 Best Workplaces for Women 2020” by the Great Place to Work Institute, India.

Major events and milestones

  • 1992: Incorporation of the Company.
  • 1997: The company signed a development agreement with PepsiCo Restaurants International (India) for opening Pizza Hut outlets in North India, pursuant to which its first Pizza Hut outlet was opened in Jaipur.
  • 2002: The company acquired Speciality Restaurants.
  • 2003: Tricon Restaurants (India) issued a letter of intent to the Company for opening Pizza Hut outlets in Kolkata.
  • 2004: Speciality Restaurants Private limited was merged in the Company.
  • 2004: Yum India issued a letter of intent to the Company for opening KFC outlets in Kolkata.
  • 2005: The company signed an International Development Agreement with Costa for opening Costa Coffee outlets in India.
  • 2005: The company’s first KFC store opened in Kolkata.
  • 2010: Opened the first KFC outlet in Nigeria.
  • 2010: Opened the first KFC and Pizza Hut outlets in Nepal.
  • 2010: Devyani Food Street formed in a joint venture with Delhi International Airport and the company.
  • 2011: The company launched its own brand for South Indian QSR- Vaango.
  • 2012: First Pizza Hut Delivery opened in Nepal.
  • 2012: The company acquired 60% stake in Delhi Select Service Hospitality.
  • 2012: IDBI Trusteeship Services, acting through its investment manager, ICICI Venture Funds Management Company invested Rs 991.41 million in the company.
  • 2015: The company acquired Pizza Hut delivery outlets from Yum India in Western and Southern India.
  • 2015: Dunearn invested $4 billion in the Company.
  • 2016: The company acquired the balance 40% stake in DFSPL from Delhi International Airport for an aggregate consideration of $49.20 million.
  • 2017: The company entered into a concession agreement with GMR Hyderabad International Airport to operate and maintain the food court of Hyderabad Airport under the brand name ‘Food Street’.
  • 2019: The company entered into an agreement with Yum India for acquisition of 13 KFC outlets.
  • 2020: The Company entered into an agreement with Yum India for acquisition of 61 KFC outlets.
  • 2021: Yum India invested Rs 2.3 billion in the company.
Read More Read Less
You have 2 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.