Barbeque Nation Hospitality Limited — Investor Meet, 29-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Barbeque-Nation reported FY25 revenue of Rs. 1,233 Cr, down 1.7% YoY, with dine-in at 85% and delivery 15%. EBITDA was Rs. 211 Cr (17.1% margin), aided by gross margin expansion to 68.2%. India revenue fell 6% to Rs. 981 Cr, with operating margin up 70 bps to 12%. International business grew 8% to Rs. 97 Cr, maintaining 25%+ margins and expanding into Sri Lanka. Premium casual dining revenue rose 30% to Rs. 160 Cr, though margins dipped to ~18% due to new stores. Network stands at 230 stores, with plans for 35-40 new openings in FY26 targeting 300-325 by FY27. Same-store sales remain negative but show gradual recovery, especially in India. Management targets 5-6% same-store sales growth and 15-16% restaurant margins, backed by smaller store formats and cost efficiencies. CAPEX guidance is Rs. 130-140 Cr over FY26-27, mainly funded internally. Overall sentiment is cautiously optimistic.