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 multidimensional 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 1,243 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 202122. It has operations in Nepal and Nigeria through a network of 46 stores.During the year 202122, 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 202223, the Company opened 305 Net New Units (NNUs), as against the previous highest addition of 246 NNUs, taking the total store count to 1,243 and store count across core brands to 1,165.The Companys 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 yearend 202223.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.