Bengaluru, India – February 3, 2025:
Barbeque-Nation Hospitality Limited (NSE: BARBEQUE, BSE: 543283) announced its unaudited financial results for the quarter and nine months ended December 31, 2024. The company also disclosed key corporate developments, including strategic acquisitions and leadership changes.
Key Financial Highlights (Consolidated)
(All figures in INR millions unless stated otherwise)| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 | FY24 (Audited) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 3,288.94 | 3,056.95 | 3,308.75 | 9,402.78 | 9,564.56 | 12,545.10 |
| Other Income | 55.20 | 42.77 | 16.44 | 124.71 | 99.15 | 175.66 |
| Total Income | 3,344.14 | 3,099.72 | 3,325.19 | 9,527.49 | 9,663.71 | 12,720.76 |
| Cost of Food & Beverages | 1,044.56 | 976.41 | 1,063.36 | 2,996.99 | 3,256.91 | 4,184.42 |
| Employee Benefits | 766.90 | 764.75 | 721.69 | 2,259.50 | 2,158.53 | 2,802.78 |
| Occupancy & Other Expenses | 862.28 | 859.95 | 860.66 | 2,566.29 | 2,574.73 | 3,436.21 |
| EBITDA | 670.40 | 498.61 | 679.48 | 1,704.71 | 1,673.54 | 2,297.35 |
| Depreciation & Amortization | 428.13 | 409.45 | 414.44 | 1,242.12 | 1,232.27 | 1,678.97 |
| Finance Costs | 194.78 | 188.73 | 189.98 | 569.60 | 572.46 | 758.56 |
| Profit Before Tax (PBT) | 47.49 | (99.57) | 75.06 | (107.01) | (131.19) | (140.18) |
| Net Profit / (Loss) After Tax | 50.58 | (71.32) | 48.38 | (64.18) | (111.38) | (111.75) |
| Earnings Per Share (Basic, in INR) | 1.16 | (1.85) | 1.12 | (1.93) | (3.16) | (3.44) |
Standalone Financial Performance
- Revenue from operations stood at ₹2,618.27 million in Q3 FY25, a decrease from ₹2,736.40 million in Q3 FY24.
- Net profit after tax was ₹0.03 million, reflecting a significant improvement from a net loss of ₹77.00 million in Q2 FY25.
- EBITDA stood at ₹514.17 million, compared to ₹521.48 million in Q3 FY24.
- Earnings per share (EPS) (basic and diluted) stood at ₹0.0008 per share.
Segment-Wise Performance
The company operates primarily in the restaurant services sector and reports its revenue under geographical segments:- India: ₹3,036.41 million (Q3 FY25) vs. ₹3,074.23 million (Q3 FY24).
- Overseas Operations: ₹252.53 million (Q3 FY25) vs. ₹234.52 million (Q3 FY24).
Strategic Initiatives & Corporate Announcements
- Acquisition of Willow Gourmet Private Limited (WGPL)
- Barbeque-Nation Hospitality will acquire a 51% equity stake in Willow Gourmet Private Limited, strengthening its position in the gourmet dining segment.
- Additional Investment in Red Apple Kitchen Consultancy
- The company has acquired an additional 162 equity shares (2.48%) in its subsidiary, Red Apple Kitchen Consultancy Pvt. Ltd., increasing its overall holding.
- Leadership Changes
- Reappointment of Mr. Kayum Razak Dhanani as Managing Director for a five-year term (March 4, 2025 – March 3, 2030).
- Resignation of Mr. Devinjit Singh as Non-Executive Director, effective February 3, 2025.
- Appointment of Secretarial Auditor
- Mr. Vijayakrishna K T has been appointed as the Secretarial Auditor for FY 2024-25.
- Subsidiary Developments
- The company reported further investments in its Sri Lankan subsidiary, Barbeque Nation Lanka Pvt. Ltd..
- Merger Plan: The Board of Directors approved the amalgamation of Red Apple Kitchen Consultancy Pvt. Ltd. and Blue Planet Foods Pvt. Ltd., pending regulatory approvals.
- Removal of Mauritius Subsidiary
- Barbeque Nation Holdings Pvt. Ltd. (Mauritius) has been struck off from the local company register effective December 2, 2024, as part of an internal restructuring process.
Management Commentary
Mr. Rahul Agrawal, CEO & Whole-time Director, Barbeque-Nation Hospitality Limited, stated:Strategic Outlook & Future Plans
- Expansion Focus: The company aims to expand both domestically and internationally, leveraging acquisitions and organic growth.
- Cost Optimization Measures: Focus on operational efficiency to improve profitability.
- Digital Initiatives: Enhancing digital ordering and delivery services to capture a larger customer base.
Conclusion
Barbeque-Nation Hospitality Limited’s Q3 FY25 results reflect moderate revenue growth, cost management efforts, and strategic acquisitions aimed at fortifying its market position. With a strong leadership team and an emphasis on digital transformation, the company is well-positioned for sustained growth.Stock Market Impact: The announcements regarding acquisitions and leadership changes could influence investor sentiment, with potential stock price movements in the upcoming sessions.