Integrated Filing — IndAS



General information about company

Scrip Code 543330
NSE Symbol DEVYANI
MSEI Symbol NOTLISTED
ISIN INE872J01023
Name of company Devyani International Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 15-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 08-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Food and Beverages
Start date and time of board meeting 15-05-2026   11:00:00
End date and time of board meeting 15-05-2026   12:15:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 1,43,686.20 5,61,147.90
Other income 1,414.60 4,511.20
Total income 1,45,100.80 5,65,659.10
2 Expenses
(a) Cost of materials consumed 44,678.70 1,76,747.00
(b) Purchases of stock-in-trade 147.50 445.30
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 20,928.50 82,955.80
(e) Finance costs 7,009.90 27,573.60
(f) Depreciation, depletion and amortisation expense 18,247.90 65,398.10
(f) Other Expenses
1 Provision/(reversal) for impairment loss (net) 1,181.00 1,583.80
2 Foreign exchange (gain)/loss (net) (264.50) (1,017.90)
3 Other expenses 54,979.50 2,15,459.20
Total other expenses 55,896.00 2,16,025.10
Total expenses 1,46,908.50 5,69,144.90
3 Total profit before exceptional items and tax (1,807.70) (3,485.80)
4 Exceptional items 0.00 (2,150.30)
5 Total profit before tax (1,807.70) (5,636.10)
6 Tax expense
7 Current tax 46.60 864.60
8 Deferred tax (520.20) (2,298.40)
9 Total tax expenses (473.60) (1,433.80)
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (1,334.10) (4,202.30)
12 Profit (loss) from discontinued operations before tax 355.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 355.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method (4.80) (51.20)
16 Total profit (loss) for period (983.90) (4,253.50)
17 Other comprehensive income net of taxes (518.20) 8,085.70
18 Total Comprehensive Income for the period (1,502.10) 3,832.20
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent (1,004.29) (3,863.11)
Total profit or loss, attributable to non-controlling interests 20.39 (390.39)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent (1,028.37) 548.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests (473.73) 3,284.20
21 Details of equity share capital
Paid-up equity share capital 12,329.40 12,329.40
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve 0.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -0.11 -0.31
Diluted earnings (loss) per share from continuing operations -0.11 -0.31
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0.03 0
Diluted earnings (loss) per share from discontinued operations 0.03 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -0.08 -0.31
Diluted earnings (loss) per share from continuing and discontinued operations -0.08 -0.31
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes to consolidated and standalone financial results for quarter and year ended 31 March 2026 1. In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) 2015, as amended, these consolidated and standalone financial results (financial results) for the quarter and year ended 31 March 2026 have been reviewed and recommended for approval by the Audit, Risk Management and Ethics Committee and accordingly have been approved by the Board of Directors of Devyani International Limited (DIL or the Company) at their respective meetings held on 15 May 2026. The joint statutory auditors have audited the annual financial results and issued an unmodified opinion thereon. 2. The figures for the quarters ended 31 March 2026 and 31 March 2025 are the balancing figures between the audited figures for the full financial year and the unaudited year to date figures up to the end of third quarter of the respective financial years, which were subjected to a limited review by the joint statutory auditors. 3. These financial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standards ('Ind AS') notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in Section 133 of the Companies Act, 2013 (read with SEBI Circular CIR/CFD/FAC/62/2016 dated 05 July 2016) and other recognised accounting practices and policies. 4. Exceptional items: (i) On 21 November 2025, the Government notified certain provisions of the Labour Codes, including a uniform definition of wages. Based on the actuarial valuation as at 31 December 2025, the Group and the Company have recognised an increase in post-employment defined benefit obligations (past service) and other long-term employee benefit obligations (compensated absences) of INR 122.13 million and INR 115.72 million respectively, arising from this legislative change. As this is a material, non-recurring impact of enactment, the related expense has been presented as an exceptional item in these Consolidated and Standalone results respectively for the quarter ended 31 December 2025 and year ended 31 March 2026. (ii) Resolution proceedings relating to a lease dispute were concluded during the quarter without any results. To ensure continuity of operations, the Group paid INR 92.90 million under protest. As this payment is material and has resulted from unusual incidence, it has been presented as an exceptional item in these Consolidated and Standalone results for the quarter ended 31 December 2025 and year ended 31 March 2026. 5. During the quarter, the Board approved a Scheme of Arrangement (“the Scheme”) under Sections 230–232 of the Companies Act, 2013, for the amalgamation of Sapphire Foods India Limited with the Company, with effect from appointed date of 01 April 2026. Under the Scheme, the Company will issue 177 equity shares of Re. 1 each for every 100 equity shares of Rs. 2 each held in Sapphire Foods India Limited. The Company is in the process of obtaining necessary regulatory and other approvals. 6. On 10 June 2025, the Company acquired an 80.72% equity stake (on a fully diluted basis) in Sky Gate Hospitality Private Limited (“Sky Gate”), for an aggregate consideration of ~INR 4,196 million, through a preferential issue of equity shares. Accordingly, Sky Gate and its subsidiaries became subsidiaries of the Company with effect from 10 June 2025. The acquisition has been accounted for using the acquisition method under Ind AS 103 based on fair values of assets and liabilities acquired. Subsequently, the Company increased its equity stake in Sky Gate to ~86.13% on a fully diluted basis. Further, during the quarter ended 31 March 2026, the Company acquired the remaining equity stake in Sky Gate from its Founders, consequent to which, Sky Gate has become a wholly-owned subsidiary of the Company. Sky Gate’s investment in Peanutbutter and Jelly Private Limited (“Peanutbutter”) and the business of Krazy Kebab Co. were held for sale. Accordingly, their financial performance has been presented as discontinued operations in the consolidated financial results, net of recoveries made. During the previous quarter, Sky Gate executed a Share Purchase Agreement with Heritage Foods Limited for sale of its entire 51% equity stake in Peanutbutter. Upon completion of the transaction in January 2026, Peanutbutter ceased to be a subsidiary of Sky Gate and a step-down subsidiary of the Company. In March 2026, the Board has approved a Scheme of Amalgamation (the Scheme) under Sections 230–232 of the Companies Act, 2013, involving amalgamation of Sky Gate and its wholly owned subsidiaries, Blackvelvet Hospitality Private Limited and Say Chefs Eatery Private Limited with and into the Company, with effect from appointed date of 01 April 2025. The Company had filed the First Motion Application with the Hon’ble National Company Law Tribunal at Chandigarh Bench (‘NCLT’) on 31 March 2026.The matter was listed on 8 May 2026 before the Hon’ble NCLT and the order has been reserved. 7. The Group operates in single reportable business segment “food and beverages” in terms of Ind AS 108- Segment Reporting. 8. The previous period/year numbers have been regrouped/reclassified wherever necessary to conform to current period/year presentation. The impact of such reclassification/regrouping have been accordingly considered and not material to the financial results.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1,75,809.70
Capital work-in-progress 778.10
Investment property 1,796.10
Goodwill 68,340.50
Other intangible assets 1,19,585.30
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 245.60
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current 0.00
Loans, non-current 373.70
Other non-current financial assets
1 Other non-current financial assets 16,719.00
Total of other non-current financial assets 16,719.00
Total non-current financial assets 17,092.70
Deferred tax assets (net) 0.00
Other non-current assets
1 Income tax assets (net) 664.80
2 Other non-current assets 2,05,441.90
Total of other non-current assets 2,06,106.70
Total non-current assets 5,89,754.70
2 Current assets
Inventories 16,463.60
Current financial asset
Current investments 0.00
Trade receivables, current 6,407.80
Cash and cash equivalents 49,125.00
Bank balance other than cash and cash equivalents 355.20
Loans, current 0.00
Other current financial assets
Total of other current financial assets 6,092.40
Total current financial assets 61,980.40
Current tax assets (net) 0.00
Other current assets
1 Other current assets 6,798.60
Total of other current assets 6,798.60
Total current assets 85,242.60
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 6,74,997.30
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 12,329.40
Other equity 1,41,852.80
Total equity attributable to owners of parent 1,54,182.20
Non controlling interest 34,338.70
Total equity 1,88,520.90
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 78,563.30
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Other financial liabilities 1,171.60
2 Lease liabilities 2,25,672.40
Total of other non-current financial liabilities 2,26,844.00
Total non-current financial liabilities 3,05,407.30
Provisions, non-current 9,400.90
Deferred tax liabilities (net) 4,293.60
Deferred government grants, Non-current 0.00
Other non-current liabilities
1 Other non-current liabilities 231.30
Total of other non-current liabilities 231.30
Total non-current liabilities 3,19,333.10
Current liabilities
Current financial liabilities
Borrowings, current 57,476.10
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 2,212.10
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 59,293.40
Total Trade payable 61,505.50
Other current financial liabilities
1 Lease liabilities 21,602.80
2 Other financial liabilities 17,248.90
Total of other current financial liabilities 38,851.70
Total current financial liabilities 1,57,833.30
Other current liabilities 6,726.90
1 Other current liabilities 6,726.90
Total of other current liabilities 6,726.90
Provisions, current 2,494.10
Current tax liabilities (Net) 89.00
Deferred government grants, Current 0.00
Total current liabilities 1,67,143.30
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 4,86,476.40
Total equity and liabilites 6,74,997.30
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurements of defined benefit plans 203.90 150.90
Total Amount of items that will not be reclassified to profit and loss 203.90 150.90
2 Income tax relating to items that will not be reclassified to profit or loss 32.40 16.50
3 Amount of items that will be reclassified to profit and loss
1 Exchange differences on translation of foreign operations (689.70) 7,951.30
Total Amount of items that will be reclassified to profit and loss (689.70) 7,951.30
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income (518.20) 8,085.70



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax (5,636.10)
Adjustments for reconcile profit (loss)
Adjustments for finance costs 27,573.60
Adjustments for decrease (increase) in inventories (895.10)
Adjustments for decrease (increase) in trade receivables, current (2,113.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current (1,957.60)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 14,424.70
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 65,398.10
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 1,583.80
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (1,940.70)
Adjustments for dividend income 0.00
Adjustments for interest income 1,570.70
Adjustments for share-based payments 243.20
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (2,021.60)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 98,724.70
Net cash flows from (used in) operations 93,088.60
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 1,167.80
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 91,920.80
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 1,818.00
Purchase of property, plant and equipment 45,895.90
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 307.90
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (183.60)
Net cash flows from (used in) investing activities (43,953.60)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 1,280.30
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 47,459.90
Repayments of borrowings 16,998.50
Payments of lease liabilities 40,387.60
Dividends paid 0.00
Interest paid 5,227.70
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (5,120.00)
Net cash flows from (used in) financing activities (18,993.60)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 28,973.60
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 2,014.20
Net increase (decrease) in cash and cash equivalents 30,987.80
Cash and cash equivalents cash flow statement at beginning of period 18,137.20
Cash and cash equivalents cash flow statement at end of period 49,125.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Walker Chandiok & Co LLP Yes 31-05-2028
2 O P Bagla & Co LLP Yes 31-03-2028