Devyani International IPO

Outlook on Jubilant Foodworks, Westlife Foodworld and other 3 restaurant stocks: Technical charts suggest these 3 can gain up to 26% from here one, while the other 2 could extend the fall.

Shares of Restaurant Brands Asia, Westlife Foodworld, Sapphire Foods India, Jubilant Foodworks and Devyani International can rally up to 15% from present levels, suggest technical charts.

The overall market trend has been negative with over 60% of the Nifty Mid- and Small-Cap stocks now trading below the long-term moving averages; however, these 5 stocks continue to buck the trend.

Store count for Devyani, which runs KFC, Pizza Hut and Costa Coffee stores in India, rose to 1,557 restaurants in the country from 1,298 last year

The northward movement in the stock price came on the news of block deals involving 42,46,671 shares of the company, worth nearly Rs 79.34 crore

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Quick service restaurant operator Devyani International Ltd on Tuesday reported a consolidated net loss of Rs 48.95 crore in the fourth quarter ended March 31, 2024, impacted by forex translation loss due to the devaluation of Nigerian currency. The company had posted a consolidated net profit of Rs 59.88 crore in the fourth quarter of the previous fiscal, Devyani International said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,047.08 crore as against Rs 754.98 crore in the corresponding period a year ago, it added. Total expenses were higher at Rs 1,057.32 crore as compared to Rs 724.77 crore in the year-ago quarter, it added. During the quarter ended March 31, 2024, and the year ended March 31, 2024, due to significant devaluation of the Nigerian currency, the Nigerian subsidiary of the group has recognised Rs 42.37 crore and Rs 89.7 crore devaluation impact on account of translation loss of USD denominated liabilities

"Consumer sentiment remains subdued, despite Q3 traditionally being a strong and festive quarter," Chairman Ravi Kant Jaipuria said in a statement. This, coupled with total expenses jumping nearly 16%

Indian QSR chain expands international presence by buying firm that runs KFC outlets in Thailand

India's Devyani International said it will begin operating KFC outlets in Thailand after it acquired Restaurants Development Co in deal a worth $128.9 million, expected to be completed by March 2024.

Revenue from operations surged 28% to 7.55 billion rupees as it opened 66 new stores. However, revenue slipped around 5% from the previous quarter

At 09:15 am, around 28.95 million equity shares representing 2.4 per cent of the total equity of the company changed hands on the BSE, the exchange data shows.

The strong store additions coupled with early signs of demand revival supported growth during the quarter.

Value players, or those catering to price sensitive customers, may see growth and profitability concerns, they said

Instead of a recovery in gross margins in fiscal 2022-23 (FY23), Jefferies now builds-in 50-200 basis point (bps) YoY decline, assuming crude stays closer to $100 a barrel and palm oil at $1,500/MT

On Wednesday, December 8, 2021, the brokerage firm Motilal Oswal Financial Services initiated coverage on Devyani with a Buy rating and target price of Rs 190.

Motilal Oswal Institutional Equities has initiated coverage on Devyani with a Buy rating and target price of Rs 190, driven by KFC's strong brand equity and operating metrics

In Q2FY22, the company posted consolidated profit after tax of Rs 46.6 crore as against a net loss of Rs 65.5 crore in Q2FY21.

The 30-day lock-in period for anchor investors ends on Monday for all the four companies

The four IPOs cumulatively generated bids worth Rs 1.7 trillion and attracted over 10 million retail applications