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Dolat Capital Report
Devyani International Ltd. delivered healthy revenue growth of 36.4% with ~40% growth in India KFC and Pizza Hut business.
KFC brand contribution stood at healthy 21.8% and Pizza Hut at 17.5%. We view this as encouraging performance amid-
Omicron threat which impacted operations for four-six weeks, and
rising inflationary pressure.
Devyani International opened 54 stores during Q4 and 237 stores during FY22 (highest store additions in a year), achieved management target.
We believe that the company would continue to add 200-250 stores every year going ahead with cluster based approach and penetration strategy.
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