Devyani International Ltd. (DEVYANI) AI Stock Analysis

• Market Cap: ₹200.56B
• Dividend Yield: N/A
• Average Volume (3M): 54.76K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.08
• Revenue Growth: 29.37%
• EPS Growth: -117.68%
• Country: IN
• Employees: 16,371
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Restaurants
• EPS (TTM): 0.00
• Shares Outstanding: 1,231,937,300
• 10 Day Avg. Volume: 43,166
• 30 Day Avg. Volume: 54,759
• PEG Ratio: -23.56
• Price to Book (P/B): 15.65
• Price to Sales (P/S): 3.48
• P/FCF Ratio: 41.86
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹186.71
• Price Target Upside: 12.78% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 61 Neutral
• Price Target: ₹179.00 ▲(8.12% Upside)

Devyani International Ltd.'s overall stock score is driven primarily by its strong financial performance, which is offset by weak technical indicators and poor valuation metrics. The company's ability to maintain cash flow strength amidst increased leverage is crucial. The lack of earnings call data and corporate events means these factors do not influence the score.

Devyani International Ltd. Business Overview & Revenue Model

Company Description

Devyani International Ltd. (DEVYANI) is a prominent player in the food and beverage sector in India, primarily engaged in the operation of quick-service restaurants (QSRs) and the production of food products. The company operates a variety of well-known brands, including KFC, Pizza Hut, and Costa Coffee, catering to a diverse customer base across multiple cities. With a focus on quality and customer satisfaction, DEVYANI has established itself as a leader in the fast-food industry, leveraging its extensive network of outlets to provide a wide range of food and beverage options.

How the Company Makes Money

Devyani International Ltd. generates revenue primarily through the operation of its franchise and company-owned restaurant outlets. The company earns money from food and beverage sales at its restaurants, which include both dine-in and delivery services. Key revenue streams include franchise fees from brand partnerships, sales of proprietary food products, and revenue generated from catering services. Additionally, the company benefits from strategic partnerships with major global brands, which enhance its market presence and customer reach. Seasonal promotions, new product launches, and marketing campaigns also contribute to its earnings by driving customer traffic and increasing sales volume.

Devyani International Ltd. Financial Statement Overview

Summary

Devyani International Ltd. shows strong financial performance with significant revenue growth and improved cash flow generation. The company has demonstrated efficient cost management and operational profitability. However, increased leverage and a lower net profit margin are potential risks.

Income Statement

Devyani International Ltd. has demonstrated a strong performance on its income statement. The gross profit margin improved from 45.6% in 2024 to 54.6% in 2025, indicating increased efficiency in cost management. Net profit margin grew from 1.3% in 2024 to 0.2% in 2025, showing a reduction in net profitability despite revenue growth. Revenue showed a robust growth rate of 39.2% from 2024 to 2025. EBIT margin significantly increased from 7.5% in 2024 to 54.6% in 2025. EBITDA margin decreased slightly, showing 17.0% in 2025 from 16.2% in 2024.

Balance Sheet

The balance sheet presents a mixed picture. The debt-to-equity ratio increased from 2.75 in 2024 to 2.91 in 2025, indicating higher leverage and potential financial risk. Return on equity improved from 4.5% in 2024 to 0.8% in 2025, implying improved but still moderate returns for equity investors. The equity ratio decreased from 21.4% to 20.5%, suggesting a slight increase in debt proportion relative to assets.

Cash Flow

Cash flow metrics are fairly strong, with free cash flow growing significantly by 258.8% from 2024 to 2025. The operating cash flow to net income ratio remains healthy at 98.4 in 2025, indicating strong cash generation relative to net income. Free cash flow to net income ratio increased, reinforcing the company's ability to generate cash exceeding net earnings.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	50.86B	49.21B	35.32B	29.73B	20.84B	11.35B
Gross Profit	25.95B	23.73B	16.20B	11.81B	8.43B	3.03B
EBITDA	8.41B	8.42B	5.75B	6.64B	4.67B	2.94B
Net Income	-115.25M	91.49M	472.63M	2.65B	1.56B	-552.08M
Balance Sheet
Total Assets	0.00	53.39B	49.32B	29.85B	22.63B	16.68B
Cash, Cash Equivalents and Short-Term Investments	1.82B	1.81B	1.91B	841.07M	1.50B	399.69M
Total Debt	0.00	31.88B	29.06B	15.65B	12.54B	13.28B
Total Liabilities	-14.02B	39.36B	35.84B	20.21B	15.81B	15.97B
Stockholders Equity	14.02B	10.94B	10.56B	9.70B	6.86B	1.14B
Cash Flow
Free Cash Flow	0.00	4.09B	1.14B	2.00B	1.44B	1.02B
Operating Cash Flow	0.00	9.00B	5.92B	6.37B	4.51B	2.40B
Investing Cash Flow	0.00	-4.62B	-15.51B	-3.50B	-3.75B	-3.59B
Financing Cash Flow	0.00	-4.25B	8.89B	-2.83B	-583.51M	1.42B

Devyani International Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 165.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DEVYANI, the sentiment is Negative. The current price of 165.55 is below the 20-day moving average (MA) of 166.40, below the 50-day MA of 171.32, and below the 200-day MA of 170.19, indicating a bearish trend. The MACD of -2.21 indicates Negative momentum. The RSI at 39.78 is Neutral, neither overbought nor oversold. The STOCH value of 58.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DEVYANI.

Devyani International Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
DEVYANI	61 Neutral	₹200.56B	―	―	―	29.37%	-117.68%
JUBLFOOD	58 Neutral	₹391.12B	157.98	―	0.20%	35.46%	-42.08%
SAPPHIRE	56 Neutral	₹92.82B	1,050.46	―	―	10.18%	-104.25%
WESTLIFE	52 Neutral	₹93.61B	921.84	―	0.13%	5.80%	-76.79%
BARBEQUE	43 Neutral	₹8.44B	―	―	―	-0.97%	-181.39%
RBA	41 Neutral	₹40.01B	―	―	―	5.21%	10.60%