DEVYANIConsumer Services

Devyani International Limited

Restaurants · ISIN INE872J01023 · BSE 543330 · NSE EQ · FV ₹1
Last price
₹139
+1.33%today
What this company does

Devyani International Limited operates in Restaurants, part of the Consumer Services sector. It booked ₹1,581 cr of revenue in its latest quarter (Q1 FY27) and kept 0.9% of sales as profit. It is the 2nd largest of 9 Restaurants companies we track, by market value.

47out of 100
Equitytale Health Score
Mixed

Healthier than 47% of companies in Consumer Services, on all six measures of filed financials. Each measure is ranked against the 25–46 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
55

At close. Not part of the score.

Profitability & returns26

How much profit it earns on the money it employs

Balance sheet13

How much it owes, and whether earnings cover the interest

Cash quality100

Whether reported profit actually arrives as cash · highest in its sector on what we could measure

Growth & consistency71

Whether sales and profit have grown, and how steadily

Valuation15

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 16% vs last year
Profit up 297% vs last year
Promoters hold 61%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 0.9% net margin
! Low 3.8% return on equity

What if I invest in DEVYANI?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹139 +1.33%
latest close · 2026-09-17
1-year return
+23.6%
52-wk low ₹10752-wk high ₹199
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio288.6High
LowAverageHigh
P/B ratio11.08High
Below bookModerateHigh
EV / EBITDA16.4High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity3.8%Weak
WeakFairStrong ▸15%
Return on capital7.3%Weak
WeakFairStrong
Net margin0.9%Thin
ThinDecentStrong
EBITDA margin17.3%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.72Moderate
LowModerateHigh ▸1
Interest cover1.3×Risky
RiskyOkayStrong ▸5×
Current ratio0.51Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹17,077 cr
Book value
₹13
EPS
₹0.12
latest quarter
Net debt
₹869 cr
owes more than its cash
Enterprise value
₹17,947 cr
EBITDA
₹1,093 cr
annualised
EBIT
₹372 cr
annualised
Operating margin
5.9%
Return on assets
0.9%
Earnings yield
0.35%
P/S
2.70
Sales / share
₹51.3
Tax rate
25.5%
Face value
₹1
Shares
123.3 cr
Working capital
₹-819 cr
Current assets
₹852 cr
Current liabilities
₹1,671 cr
Delivery %
43.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹10₹13, midpoint ₹12

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,581 cr
Other Income₹19 cr
Total Income₹1,600 cr
Cost of Materials₹488 cr
Purchases of Stock-in-Trade₹80.2 L
Employee Benefit Expense₹230 cr
Finance Costs₹70 cr
Depreciation & Amortisation₹180 cr
Other Expenses₹607 cr
Total Expenses₹1,577 cr
Profit before Tax₹23 cr
Tax Expense₹6 cr
Share of JV / Associates₹6.3 L
Net Profit₹17 cr
Net margin on total income1.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹489 cr30.6%
Employee benefit expense₹230 cr14.4%
Finance costs₹70 cr4.4%
Depreciation & amortisation₹180 cr11.3%
Other expenses₹607 cr38.0%
Tax expense₹6 cr0.4%
Profit for the period₹17 cr1.1%
Total income ₹1,600 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,441 cr1,437 cr1,581 cr
Total income1,453 cr1,451 cr1,600 cr
Expenses1,446 cr1,469 cr1,577 cr
Profit before tax-15 cr-18 cr23 cr
Tax-5 cr-5 cr6 cr
Net profit (owners' share)-10 cr-10 cr15 cr
Net margin (owners' share, on revenue)-0.7%-0.7%0.9%
EPS (₹)-0.07-0.110.12
YoY (latest quarter): total income +16.7% · net profit +297.2%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹6,750 cr
Shareholder equity
₹1,542 cr
parent shareholders
Total debt
₹1,360 cr
Cash
₹491 cr
Cash flow · H1 FY26
Operating
₹401 cr
Investing
₹-222 cr
Financing
₹-225 cr
Peer comparison
Restaurants · by market value
CompanyPriceMarket capP/E
Jubilant Foodworks Limited₹480₹31,686 cr79.0
Devyani International Limitedthis company₹139₹17,077 cr288.6
Travel Food Services Limited₹1,232₹16,223 cr32.0
WESTLIFE FOODWORLD LIMITED₹549₹8,562 cr3,431.6
Sapphire Foods India Limited₹233₹7,496 cr132.5
Restaurant Brands Asia Limited₹96₹6,841 cr
Coffee Day Enterprises Limited₹31₹3,487 cr192.9
United Foodbrands Limited₹691₹2,700 cr218.6
Speciality Restaurants Limited₹139₹672 cr24.0
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
61.4%
FII / Foreign
6.8%
DII / Domestic
18.9%
Retail / others
13.0%
Promoter stake down 1.4% over the last 12 quarters.
Smart-money activity
Bulk / block deals
short · NSE349 Sep 26
short · NSE45624 Aug 26
short · NSE17 Aug 26
Stake changes
BoughtNippon India Mutual Fund→ 7.06% · 9.50 L11 Jun 26
SoldDunearn Investments (Mauritius) Pte Ltd→ 2.94% · 3.63 cr21 Mar 23
DisposalDUNEARN INVESTMENTS (MAURITIUS) PTE LTD→ 5.94%23 Aug 22
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 14 Aug 2026
See the official result
1
To receive, consider and adopt (a) the Audited Financial Statements of the Company for the Financial Year ended March 31, 2026 together with the reports of Board of Directors and Auditors thereon; and (b) the Audited Consolidated Financial Statements of the Company including Auditors’ Report thereon for the Financial Year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
33.15 cr votes for, 341 against · 0% of mutual funds and other big investors said no
2
To appoint Mr. Raj Gandhi (DIN: 00003649), who retires by rotation and being eligible, offers himself for re-appointment, as a Director.
Backed by 89% of shareholders other than promotersneeded 50%
29.48 cr votes for, 3.67 cr against · 13% of mutual funds and other big investors said no
3
To appoint Mr. Manish Dawar (DIN: 00319476), who retires by rotation and being eligible, offers himself for re-appointment, as a Director.
Backed by 100% of shareholders other than promotersneeded 50%
33.06 cr votes for, 8.85 L against · 0% of mutual funds and other big investors said no
4
To approve re-appointment of Mr. Manish Dawar (DIN: 00319476) as a Whole-time Director of the Company designated as President & Group Chief Executive Officer.
Backed by 100% of shareholders other than promotersneeded 75%
32.98 cr votes for, 16.15 L against · 1% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 61 named members
owning 61.4% between them · as of 2026-06-30
RJ CORP LIMITED57.98%
VARUN JAIPURIA3.21%
RAVI KANT JAIPURIA0.17%
Accor Developers Private Limitedno shares
Accor Industries Private Limitedno shares
Accor Realcon Private Limitedno shares
AFRICARE DISTRIBUTORS LIMITEDno shares
Africare Limitedno shares
Business done with them
FY2026 · 7 of the group
The company paid ₹22 cr to companies in the promoter group last year — about 0.4% of its ₹5,611 cr revenue and received ₹5 cr back from them.
VARUN BEVERAGES LIMITED
Bought goods from them · Sale of products (Finished goods), Sale of products (Traded goods), Purchase of raw materials and other items, Expenses incurred by other company on behalf of the Group, Trade payables/other payable, Repair & maintainance (expense), Purchase of property, plant and equipment (PPE)
₹20 cr
company paid
DEVYANI FOOD INDUSTRIES LIMITED
Sold goods to them · Sale of products (Finished goods), Sale of products (Traded goods), Purchase of raw materials and other items, Trade receivables
₹3 cr
company received
VARUN BEVERAGES LIMITED
Other payments to them · Sale of products (Finished goods), Sale of products (Traded goods), Purchase of raw materials and other items, Expenses incurred by other company on behalf of the Group, Trade payables/other payable, Repair & maintainance (expense), Purchase of property, plant and equipment (PPE)
₹1 cr
company paid
VARUN BEVERAGES LIMITED
Sold goods to them · Sale of products (Finished goods), Sale of products (Traded goods), Purchase of raw materials and other items, Expenses incurred by other company on behalf of the Group, Trade payables/other payable, Repair & maintainance (expense), Purchase of property, plant and equipment (PPE)
₹73.4 L
company received
DEVYANI FOOD INDUSTRIES LIMITED
Bought goods from them · Sale of products (Finished goods), Sale of products (Traded goods), Purchase of raw materials and other items, Trade receivables
₹42.9 L
company paid
VARUN BEVERAGES LIMITED
Bought property or assets from them · Sale of products (Finished goods), Sale of products (Traded goods), Purchase of raw materials and other items, Expenses incurred by other company on behalf of the Group, Trade payables/other payable, Repair & maintainance (expense), Purchase of property, plant and equipment (PPE)
₹37.1 L
company paid
CRYOVIVA BIOTECH PRIVATE LIMITED
Sold goods to them · Sale of products (Finished goods), Trade receivables
₹22.4 L
company received
MODERN MONTESSORI INTERNATIONAL (INDIA) PRIVATE LIMITED
Sold goods to them · Sale of products (Finished goods)
₹17.3 L
company received
RJ CORP LIMITED
Other payments to them · Sale of products (Traded goods), Expenses incurred by other company on behalf of the Group, Rental income, Trade receivables
also owns 57.98% of the company
₹16.6 L
company paid
RJ CORP LIMITED
Other income from them · Sale of products (Traded goods), Expenses incurred by other company on behalf of the Group, Rental income, Trade receivables
also owns 57.98% of the company
₹2.4 L
company received
LINEAGE HEALTHCARE LIMITED
Other payments to them · Sale of products (Traded goods)
₹2.3 L
company paid
RJ CORP LIMITED
Sold goods to them · Sale of products (Traded goods), Expenses incurred by other company on behalf of the Group, Rental income, Trade receivables
also owns 57.98% of the company
₹1.4 L
company received
LINEAGE HEALTHCARE LIMITED
Sold goods to them · Sale of products (Traded goods)
₹0.8 L
company received
S V S INDIA PRIVATE LTD
Other payments to them · Rent expense
₹0.6 L
company paid

The company also transacted with 18 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.