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Q2 FY’27 Results Presentation 2nd Nov, 2026 BHARAT MALL - MANGALORE HAMIRPUR – HIMACHAL PRADESHKISHANGARH - RAJASTHAN KOLANCHERRY - KERALA SECURA MALL - KODUNGALLUR GUWAHATI - ASSAM
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2 Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase any securities (“Securities”) of Devyani International Limited (the “Company”) in India, the United States or any other jurisdiction. This presentation should not, nor should anything contained in it, form the basis of, or be relied upon in any connection with any contract or commitment whatsoever. This presentation is not an offer of securities for sale in the United States or elsewhere. This presentation does not constitute a prospectus, a statement in lieu of a prospectus, an offering circular, information memorandum, an invitation or advertisement or an offer document under the Companies Act, 2013, together with the rules thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 each as amended, or any other applicable law in India. This presentation may contain forward‐looking statements that involve risks and uncertainties. Forward‐looking statements are based on certain assumptions and expectations of future events. Actual future performance, outcomes and results may differ materially from those expressed in forward‐looking statements as a result of a number of risks, uncertainties and assumptions. There is no obligation on the Company or any of its directors, officers, employees, agents or advisers, or any of their respective affiliates, advisers or representatives to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise and none of them shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. You are cautioned not to place undue reliance on these forward-looking statements, which are based on current view of the Company’s management on future events. The data and opinion expressed herein with respect to the Company is based on a number of assumptions and is subject to a number of known and unknown risks, which may cause the Company’s actual results or performance to differ materially from any projected future results or performance expressed or implied by such statements. Further, certain figures (including amounts, percentages and numbers), as applicable, have been rounded-off to the nearest number and may not depict the exact number. We use a variety of financial and operational performance indicators to measure and analyze our financial performance and financial condition from period to period and to manage our business. Further, financial or performance indicators used here, have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, analysis of our historical financial performance, as reported and presented in our financial statements. Further, past performance is not necessarily indicative of future results. This presentation has been prepared by the Company. This document is a summary only and does not purport to contain all of the information that may be required to evaluate any potential transaction and any recipient hereof should conduct its own independent analysis of the Company and their businesses, including the consulting of independent legal, business, tax and financial advisers. The information in this presentation has not been independently verified and has not been and will not be reviewed or approved by any statutory or regulatory authority or stock exchange in India. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. Further, nothing in this document should be construed as constituting legal, business, tax or financial advice.
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Chairman’s Comments 3 Our growth momentum carried on firmly into the second quarter. We have had a good quarter with positive SSSGs ranging from 4% to 9% across our brand portfolio in India except PH which saw sequentially better numbers. We added 70 net new stores during the quarter. KFC led the store additions, with 50 net new units added in India. This takes our store footprint to 1,923 stores in India and 2,325 globally. We are on track to meet our full-year guidance of 200–220 net new additions, with the same discipline: the right locations and a clear line of sight to profitability. Building on the positive SSSG performance, we delivered consolidated sales of INR 1,519 Cr, growing 10.4% yoy. Despite steep inflation in raw materials and wages, the leverage from higher same-store sales and tight cost control helped us lift the EBITDA by nearly 18%, to INR 229 Cr. This is one of the best Q2 operating EBITDA numbers that we have seen and the same helped us post Profit before Taxes of INR 5.7 Crs for the quarter, against a loss last year. Your company delivered a PBT of Rs 29 Crs in H1 vs a loss of Rs 24 Crs in the previous year. Equally encouraging is the quality of growth that we are observing. Across brands, we have witnessed transaction led growth – and growth in our on-premise channel sales. Both these trends are very heartening and are key to a long-term sustainable growth trajectory. While the India opportunity is real, the near-term challenges are far from over. We have seen strong food and fuel inflation and job losses because of AI adoption. The household budgets are under pressure. With this we also need to reorient ourselves more in favour of value given the macro-economic reality in the Country and a strong K shaped economy that India is turning into. The regulatory environment also continues to evolve rapidly. A heightened inspection drive from the Food authorities across the country disrupted store operations during the inspections. While we strongly believe that a strong focus on hygiene and operational control is needed and will help the formalization journey for the industry, there needs to be consistent application of the same. With food inflation firming and interest rates beginning to rise, we expect discretionary spending to stay under pressure – as our peers have also already indicated. By providing sharper value at entry price points, consistent marketing, and a concerted effort on bringing guests back into our restaurants, we feel we are well positioned to perform in the coming quarters. Our new management team is settling in, and we are confident that our plans with respect to pre-merger preparation are progressing well. We are expecting that the merger should get approvals in line with our initial plans. You will be pleased to know that we have received CCI approval for the merger from the authorities. Commenting on the performance, Mr. Ravi Jaipuria, Chairman said:
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FY27 Q2 - BUSINESS HIGHLIGHTS 4 SSSG momentum maintained ✓ KFC delivered +4.4% SSSG, improving QoQ ✓ Costa and BBK delivered more than 8.0% SSSG ✓ Pizza Hut SSSG also improved on a sequential basis. Strong margin delivery in inflationary environment ✓ Operating EBITDA grew +34% yoy to reach INR 125 Cr. ✓ Mitigated inflation through cost management & sharper execution. ✓ Delivered PBT of INR 5.7 Cr vs a loss of 27 Cr last year. Focus on customer value proposition ✓ INR 99 Krisper meal leading KFC’s new customer recruitment ✓ Triple Spice range launched in Pizza Hut. Innovative fusion product combining global and Indian tastes. ✓ Sattvik Biryani by BBK – demonstrated new product development capabilities.
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FY27 Q2 & H1 - PERFORMANCE HIGHLIGHTS 5 Store additions during the quarter ✓ 70 NNU. KFC added 50 net new stores ✓ BBK- 6 net additions ✓ Yearly store opening plan as per guidance Continued Revenue growth H1 FY27 INR 30,999 Mn; +13.4% vs H1 FY26 India Revenue INR 20,935 Mn; +12.0% vs H1 FY26 KFC India INR 13,266 Mn; +12.0% vs H1 FY26 International business INR 10,318 Mn; +16.9% vs H1 FY26 Earnings Performance Consolidated EBITDA ✓ H1 FY27 INR 4,834 Mn; 21.1% up vs H1 FY26 ✓ EBITDA Margin at 15.6%, +100 bps vs H1 FY26 Gross Margin: H1 FY27 at 68.8% Brand Cont. growth : Q2 FY27 ~ 23% YoY Operating EBITDA growth: Q2 FY27 34% YoY Margin Performance
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Brand Q2 FY26 Q1 FY27 Q2 FY27 YUM BRANDS 33 -2 56 1,420 1,476 KFC 30 11 50 794 844 PH 3 -13 6 626 632 FRANCHISEE BRANDS* -4 -1 5 197 202 OWN BRANDS 0 1 7 218 225 Food-Courts/ Airports 0 0 0 20 20 Total India 29 -2 68 1,855 1,923 Thailand 1 0 0 323 323 Nigeria 0 -1 -1 39 38 Nepal 2 0 3 38 41 Total International 3 -1 2 400 402 Total DIL 32 -3 70 2,255 2,325 Net New Units Stores as at 30 Sep 26 Stores as at 30 June 26 NEW STORE OPENINGS AND STORE COUNT 6NNU = Gross additions less Closures *Does not include Tealive stores & Costa PVR
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13,768 15,805 15,194 27,337 30,999 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 10.4% 13.4% 1,610 2,243 1,976 3,387 4,219 11.7% 14.2% 13.0% 12.4% 13.6% - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 22.7% 24.6% 934 1,511 1,251 2,029 2,762 6.8% 9.6% 8.2% 7.4% 8.9% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 33.9% 36.1% 1,943 2,548 2,286 3,992 4,834 14.1% 16.1% 15.0% 14.6% 15.6% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 7 PERFORMANCE TREND – DIL CONSOLIDATED STORE COUNT (NOS) AT END OF PERIOD REVENUE FROM OPERATIONS GROSS MARGIN BRAND CONTRIBUTION OPERATING EBITDA REPORTED EBITDA ALL FIGURES IN INR MILLION, UNLESS SPECIFIED 2,175 2,255 2,325 Q2 FY26 Q1 FY27 Q2 FY27 6.9% 9,329 10,915 10,403 18,581 21,318 67.8% 69.1% 68.5% 68.0% 68.8% - 5,000 10,000 15,000 20,000 25,000 30,000 35,000 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27
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941 1,397 1,150 2,072 2,547 10.0% 13.0% 11.2% 11.1% 12.2% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 22.2% 22.9% 462 853 611 1,116 1,464 4.9% 8.0% 6.0% 6.0% 7.0% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 32.2% 31.1% 8 PERFORMANCE TREND – DIL INDIA STORE COUNT (NOS) AT END OF PERIOD REVENUE FROM OPERATIONS GROSS MARGIN BRAND CONTRIBUTION OPERATING EBITDA ALL FIGURES IN INR MILLION, UNLESS SPECIFIED 6,530 7,597 7,197 13,017 14,793 69.7% 70.9% 70.4% 69.6% 70.7% - 5,000 10,000 15,000 20,000 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 9,371 10,709 10,226 18,691 20,935 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 9.1% 12.0% 1,796 1,855 1,923 Q2 FY26 Q1 FY27 Q2 FY27 7.1%
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471 660 637 912 1,297 10.5% 12.6% 12.5% 10.3% 12.6% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 35.3% 42.1% 9 PERFORMANCE TREND – DIL INTERNATIONAL REVENUE FROM OPERATIONS GROSS MARGIN BRAND CONTRIBUTION All figures in INR Million, unless specified STORE COUNT (NOS) AT END OF PERIOD 4,495 5,230 5,087 8,828 10,318 - 2,000 4,000 6,000 8,000 10,000 12,000 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 13.2% 16.9% 379 400 402 Q2 FY26 Q1 FY27 Q2 FY27 6.1% 2,879 3,418 3,297 5,723 6,715 64.0% 65.4% 64.8% 64.8% 65.1% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 749 949 912 1,473 1,861 16.7% 18.2% 17.9% 16.7% 18.0% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 21.7% 26.4% OPERATING EBITDA
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KFC: Q2 FY27 New Stores Six Miles, Guwahati KFC Makali, Bangalore Guwahati -Shillong Kuthiathode Eramalloor, Kerala
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54% 57% 56% 54% 57% 46% 43% 44% 46% 43% 5,723 6,842 6,424 11,849 13,266 734 794 844 734 844 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 89 98 88 94 93 -4.2% 3.3% 4.4% -2.4% 3.9% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 11 REVENUE AND SALES MIX BUSINESS PERFORMANCE – KFC INDIA ADS’000 AND SSSG GROSS MARGIN BRAND CONTRIBUTION On-Premise Off-Premise All figures in INR Million, unless specified Stores SSSG% 3,898 4,745 4,383 8,010 9,128 68.1% 69.4% 68.2% 67.6% 68.8% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 805 1,154 890 1,753 2,044 14.1% 16.9% 13.9% 14.8% 15.4% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27
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CUSTOMERS ARE LOVING IT!!
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PH : Q2 FY27 New Stores Lehariya, Jaipur Kadamba, Goa SRP, Saharanpur Bhilwara, Rajasthan
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1,390 1,407 1,409 2,791 2,816 74.8% 76.3% 76.7% 74.8% 76.5% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 14 Revenue and Sales mix BUSINESS PERFORMANCE – PH INDIA ADS’000 and SSSG Gross Margin Brand Contribution On-Premise Off-Premise All figures in INR Million, unless specified 45% 48% 44% 45% 45% 55% 52% 56% 55% 55% 1,860 1,843 1,836 3,733 3,680 621 626 632 621 632 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 -4 -36 -33 -24 -68 -0.2% -1.9% -1.8% -0.6% -1.9% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 33 32 32 33 32 -4.1% -2.2% -1.4% -4.1% -1.7% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Stores SSSG%
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PH MARKETING CAMPAIGNS
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201 218 225 Q2 FY26 Q1 FY27 Q2 FY27 16 PERFORMANCE TREND – OWN BRANDS Gross Margin All figures in INR Million, unless specified ADS (‘000) and SSSG%STORE COUNT (NOS) AT END OF PERIOD REVENUE FROM OPERATIONS BRAND CONTRIBUTION 861 978 955 1,211 1,933 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 539 644 624 784 1,268 62.6% 65.9% 65.4% 64.8% 65.6% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 5 99 89 29 189 0.6% 10.2% 9.4% 2.4% 9.8% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Q2 FY26 Q1 FY27 Q2 FY27 Vaango ADS 23 26 24 Vaango SSSG% -4.2% 7.1% 6.9% BBK ADS 70 76 72 BBK express ADS 21 21 BBK SSSG% -10.4% 7.2% 8.1%
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378 409 408 768 817 73.6% 74.6% 74.2% 74.4% 74.4% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 513 549 550 1,032 1,099 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 17 PERFORMANCE TREND – FRANCHISEE BRANDS Revenue from Operations Gross Margin Brand Contribution All figures in INR Million, unless specified ADS (‘000) and SSSG% REVENUE FROM OPERATIONS BRAND CONTRIBUTION 218 197 202 Q2 FY26 Q1 FY27 Q2 FY27 STORE COUNT (NOS) AT END OF PERIOD Q2 FY26 Q1 FY27 Q2 FY27 Costa ADS 24 29 28 Costa SSSG% 0.4% 10.2% 9.9% 58 83 86 125 168 11.2% 15.1% 15.5% 12.1% 15.3% Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27
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Summary Financials
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CONSOLIDATED PROFIT & LOSS STATEMENT 19*Includes Purchases of stock-in-trade Particulars (INR Million) Q2’ FY26 Q1’ FY27 Q2’ FY27 FY26 H1 FY27 H1 Revenue from Operations 13,768 15,805 15,194 27,337 30,999 Other Income 51 192 120 186 312 Total Income 13,819 15,997 15,314 27,524 31,311 Raw Material and Packaging Cost* 4,438 4,890 4,791 8,756 9,681 Gross Profit 9,329 10,915 10,403 18,581 21,318 Gross Margin 67.8% 69.1% 68.5% 68.0% 68.8% Employee benefits expense 2,017 2,301 2,113 4,028 4,414 Other expenses 5,369 6,066 6,004 10,562 12,070 Total Expenses 7,386 8,367 8,117 14,590 16,484 EBITDA 1,943 2,548 2,286 3,992 4,834 EBITDA Margin 14.1% 16.1% 15.0% 14.6% 15.6% Finance Costs 688 701 653 1,356 1,355 Depreciation & Amortization Expense 1,552 1,804 1,733 3,049 3,536 Impairment 51 11 4 51 15 Foreign exchange (gain)/loss (net) -31 -5 -43 -43 -48 Share of profit/(loss) of joint ventures -2 1 -2 -3 -2 Profit / (loss) before Tax (PBT) (268) 229 57 (238) 286 (Loss)/ Profit from discontinued operation (24) 0 0 (26) 0 Tax Expense/ (Credit) (52) 58 22 (47) 80 Profit (loss) after Tax (PAT) (239) 171 35 (217) 206
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CONSOLIDATED BALANCE SHEET* 20 Particulars (INR Million) 31-Mar-26 30-Sep-26 Particulars (INR Million) 31-Mar-26 30-Sep-26 Equity Share Capital 1,233 1,233 (a) Property, plant and equipment 17,581 17,267 Other equity 14,185 14,218 (b) Capital work-in-progress 78 137 Non-controlling Interest 3,434 3,538 (c) Right-of-use assets 20,306 20,138 Total Equity 18,852 18,989 (d) Investment properties 180 147 (e) Goodwill 6,834 6,829 (a) Financial liabilities (f) Other intangible assets 11,983 11,711 (i) Borrowings 7,856 6,813 (g) Investments accounted for using the equity method 25 41 (ii) Lease liabilities 22,567 22,480 (h) Other financial assets 1,709 1,841 (iii) Other financial liabilities 117 125 (i) Income tax assets (net) 66 51 (b) Provisions 940 948 (j) Other non-current assets 239 311 (c) Other non-current liabilities 23 12 (d) Deferred tax liabilities (Net) 429 474 Total Non-Current Liabilities 31,933 30,851 Total Non-Current Assets 58,976 58,472 (a) Financial liabilities (a) Inventories 1,646 1,815 (i) Borrowings 5,748 3,027 (b) Financial assets (ii) Lease liabilities 2,160 2,215 (i) Trade receivables 641 522 (iii) Trade payables 6,151 6,464 (ii) Cash and cash equivalents 4,913 1,529 (iv) Other financial liabilities 1,725 1,401 (iii) Bank balances other than cash and cash equivalents 36 7 (b) Other current liabilities 673 530 (iv) Other financial assets 609 671 (c) Provisions 249 246 (v) Investment - 10 (d) Current tax liabilities (net) 9 12 (c) Other current assets 680 707 Total Current Liabilities 16,714 13,895 Total Liabilities 48,648 44,746 Total Current Assets 8,524 5,263 Total Equity and Liabilities 67,500 63,735 Total Assets 67,500 63,735 *Includes rounding off adjustments
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Devyani International’s Q2 & H1 FY2027 Conference Call on Monday, November 02, 2026, at 2:00 PM IST Devyani International Limited (DIL), among the largest QSR players in India, will host a conference call for investors and analysts on Monday, November 02, 2026, at 2:00 PM IST to discuss its results and developments for the period ended September 30, 2026. The results will be announced earlier the same day. The senior management of the Company will be present to address the call. Timing : Monday, November 2, 2026 at 2:00 PM IST Pre-Registration : To enable participants to connect to the conference call without having to wait for an operator, please register at the link below: Conference Dial-In Primary Number : +91 22 6280 1141 / +91 22 7115 8042 Click here for Diamond Pass
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About Us Devyani International Limited is one of India’s largest chain quick service restaurant (QSR) operators, with a network of over 2,200 stores across more than 350 cities in India, Thailand, Nigeria, and Nepal. The Company’s portfolio represents a compelling blend of iconic global brands and successful homegrown concepts. DIL holds the distinction of being the largest franchisee of Yum! Brands in India and Nepal. In addition, DIL is the sole franchisee in India for several international brands, including Costa Coffee, New York Fries, and Sanook Kitchen. Complementing its global portfolio, DIL has developed strong indigenous brands such as Vaango, a South Indian vegetarian cuisine concept, and The Food Street, a food court format that brings multiple brands together under one roof to enhance consumer experience. DIL has also strengthened its Indian cuisine offerings through the acquisition of Sky Gate Hospitality, which owns popular brands such as Biryani By Kilo and Goila Butter Chicken. Please visit www.dil-rjcorp.com for more information. You may also reach out to: Safe Harbor Certain statements that may be made or discussed at the conference call may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like significant changes in economic environment in India and overseas, tax laws, litigation, labour relations etc. Actual results might differ substantially from those expressed or implied. Devyani International will not be in any way responsible for any action taken based on such statements and discussions; and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. Rajiv Kumar Anoop Poojari / Jenny Rose Devyani International Limited CDR India +91 124 478 6000 / +91 88601 68600 +91 98330 90434 / +91 86899 72124 rajiv.kumar@dil-rjcorp.com anoop@cdr-india.com Investor.relations@dil-rjcorp.com jenny@cdr-india.com
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Thank You!