Devyani International Ltd

Devyani International Ltd

The Company was originally incorporated as `Universal Ice Creams Private Limited' at New Delhi as Private Limited Company on December 13 1991. Subsequently name of the Company changed to 'Devyani International Private Limited' and a fresh Certificate of Incorporation dated 07 June 2000 was issued by the RoC. Thereafter the Company converted into a Public Limited Company and consequently name of Company was changed to 'Devyani International Limited' dated 09 May 2005. The Company is a multi-dimensional comprehensive quick service restaurant(QSR) player in India. The Company is primarily engaged in the business of developing managing and operating quick service restaurants and food courts for brands such as Pizza Hut KFC Costa Coffee Vaango etc. and retail stores of TWG Tea. As of March 31 2023 the Company has 1243 stores across India Nepal and Nigeria.In 1997 the Company signed a development agreement with PepsiCo Restaurants International (India) Private Limited for opening Pizza Hut outlets in North India pursuant to which it commenced operations of first Pizza Hut outlet in Jaipur.In 2002 it acquired Speciality Restaurants Private Limited. In 2003 Tricon Restaurants (India) Private Limited issued a letter of intent to our Company for opening Pizza Hut outlets in Kolkata.In 2004 Speciality Restaurants Private limited was merged in with the Company.In 2005 Company signed an International Development Agreement with Costa for opening Costa Coffee outlets in India. The first KFC store opened in Kolkata.In 2010 it opened the first KFC outlet in Nigeria. It opened e first KFC and Pizza Hut outlets in Nepal. Devyani Food Street Private Limited formed in a joint venture with Delhi International Airport Limited and the Company.In 2011 the Company launched its own brand for South Indian QSR- Vaango.In 2012 First Pizza Hut Delivery opened in Nepal. The Company acquired 60% stake in Delhi Select Service Hospitality Private Limited. IDBI Trusteeship Services Limited acting through its Investment Manager ICICI Venture Funds Management Company Limited invested Rs. 991.41 million in the Company.In 2015 it acquired Pizza Hut delivery stores from Yum India in Western and Southern India.In 2016 it acquired balance 40% stake in DFSPL from Delhi International Airport Private Limited for an aggregate consideration of Rs. 49.20 million.In 2017 it entered into a concession agreement with GMR Hyderabad International Airport Limited to operate and maintain the food court of Hyderabad Airport under the brand name `Food Street'.In 2019 it acquired 13 KFC outlets and 61 KFC outlets with Yum India during FY 2020. As on 31 March 2019 the Company has 6 subsidiaries and 1 joint venture company. As of March 31 2021 the Company operated 264 KFC stores and 297 Pizza Hut stores across India. In August 2021 it extended partnership with Costa Coffee parent. As of March 31 2022 the Company operated in total 892 stores across 204 cities in India. It opened 246 new stores in FY 2021-22. It has operations in Nepal and Nigeria through a network of 46 stores.During the year 2021-22 the Board of Directors of Company in their meeting held on December 13 2021 amalgamated both subsidiaries Devyani Food Street Private Limited and Devyani Airport Services (Mumbai) Private Limited with the Company.As on 31 March 2022 the Company has 5 subsidiaries. In FY22 it added 100 new stores to reach 364 stores.During 2022-23 the Company opened 305 Net New Units (NNUs) as against the previous highest addition of 246 NNUs taking the total store count to 1243 and store count across core brands to 1165.The Company's portfolio as of FY 2023 stands at 543 stores for KFC 510 stores for Pizza Hut and 112 stores for Costa Coffee. It added 138 KFC stores during the year; 93 Pizza Hut stores; 57 Costa Coffee stores and expanded the network by adding 126 new stores reaching a total of 490 stores by year-end 2022-23.During 2023 the Company launched Flavour Fun Pizza. It launched 4 flagship stores. It introduced 13 stores for the international business and further launched the lunch menu at KFC.