UFBLNSE27 May 2023

Barbeque Nation Hospitality Limited has informed the Exchange about Investor Presentation

United Foodbrands Limited

The Manager Listing Department BSE Limited P.J. Towers, Dalal Street, Mumbai – 400001

Date: May 27, 2023

The Manager Listing & Compliance Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra East, Mumbai – 400051

Scrip Code: 543283

Scrip Symbol: BARBEQUE

Dear Sir/Madam,

Subject: Earnings presentation on Financial Results of the Company for the fourth

quarter and financial year ended March 31, 2023

Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and

Disclosure Requirements) Regulations, 2015

Please find enclosed a copy of the Earnings Presentation on Financial Results of the Company for the fourth quarter and financial year ended March 31, 2023 which will be circulated to the Investors/Analysts for the Earnings Conference Call scheduled on Monday, May 29, 2023 at 11:00 AM (IST).

This is for your information and records.

Thanking you.

Yours faithfully,

For Barbeque-Nation Hospitality Limited

Nagamani C Y Company Secretary and Compliance Officer M. No.: A27475

Encl.: As above

BARBEQUE-NATION HOSPITALITY LIMITED Registered & Corporate Office: “Saket Callipolis”, Unit No. 601 & 602, 6th Floor, Doddakannalli Village, Varthur Hobli, Sarjapur Road, Bengaluru-560035, Karnataka, India. T: +91 80 69134900, E-mail: corporate@barbequenation.com,CIN: L55101KA2006PLC073031 www.barbequenation.com

RECOVERY. RESILIENCE. RESURGENCE.

BARBEQUE NATION HOSPITALITY LTD.

Earnings Presentation

Q4 FY23

Key Performance Highlights

Revenue from Operations

Reported EBITDA

SSSG (%)

Delivery Revenue

New Restaurant Additions

Own Digital Assets Contribution (%)

₹ 12,338 mn

₹ 2,386 mn

27.5%

₹ 1,653 mn

27.5%

+43.4% y-o-y

49.1% y-o-y

FY22: 64.7%

(16.5)% y-o-y

FY22: 23

FY22: 25.0%

EBITDA Margin: 19.3%

Revenue from Operations

Reported EBITDA

SSSG (%)

Delivery Revenue

New Restaurant Additions

Own Digital Assets Contribution (%)

₹ 2,802 mn

₹ 421 mn

(2.6)%

₹ 391 mn

29.2%

+11.6% y-o-y

(16.5)% y-o-y

Q4FY22: 5.5%

(12.4)% y-o-y

Q4FY22: 12

Q4FY22: 24.1%

EBITDA Margin: 15.0%

3 2 Y F

3 2 Y F 4 Q

Diversified food services company with strong scalable brands

Dine-in offering

Destination brand for CELEBRATIONS

Delivery offering

Toscano

Italian Cuisine- Dine-in & Delivery

VALUE- Fixed price ‘all you can eat’ offering a wide variety

SERVICE- Strong guest focus & prompt service

PRODUCT INNOVATION Barbeque-in-a-Box

A-LA-CARTE UBQ

ASPIRATION

EXPERIENCE

EXPERIENCE- Live grills enhancing guest experience & engagement

Delivery through BBQN App/ website and extension

kitchens creating more distribution points for delivery

Current presence across 3 metro cities provides huge headroom for growth

BBQN App

Dum Safar

Extension Kitchens

VALUE

Barbeque Nation brand crossed ₹ 1,000+ cr revenues in FY23

1st Indian full-service CDR brand to reach ₹ 1,000+ crore revenues in a year

~1.1 cr Guests

Served across

81 cities

Via network of

202 Barbeque Nation Restaurants

Growing restaurant network

Added 8 new restaurants to the network in Q4

Expansion of Restaurant Network

Restaurant Composition

164 164

185

Added 39 new restaurants and closed 8 restaurants in FY23

195 205 212 216

133

104

FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Q1

FY23

Target to add 20 restaurants in FY24

216 Restaurants

196 BBQN India

10 Extension kitchens

6 BBQN International

14 Toscano

Distribution Metros & Tier I Tier II & III Cities Total Network

FY22 131 54 185

FY23 162 54 216

New restaurants designed to enhance customer experience

Ahmedabad - Bopal

Delhi - Dwaraka

Kolkata - Howrah

Hyderabad - Attapur

Kolkata - Sodepur

Pune - Singhad

Flavours @ Barbeque Nation / Toscano

Food festivals @ Barbeque Nation

Beverage Promotions

Social media engagements

Y-o-Y Revenue growth of 43.4% in FY23 & 11.6% in Q4

Consolidated Revenue from Operations (₹ million)

Y-o-Y Annual Trend

Y-o-Y Quarterly Trend

8,470

7,390

8,606

5,071

12,338

2,263

2,510

2,802

1,840

1,910

FY19

FY20

FY21

FY22

FY23

Q4 FY19

Q4 FY20

Q4 FY21

Q4 FY22

Q4 FY23

FY23 revenues grew 43.4% driven by dine-in business growth of 61.6%

  Q4 FY23 revenues grew 11.6% Y-o-Y driven by 16.8% growth in dine-in business 

SSSG: 27.5% in FY23; (2.6)% in Q4 FY23

Dine-in: Y-o-Y growth of 61.6% in FY23 & 16.8% in Q4

Y-o-Y Annual Trend

Y-o-Y Quarterly Trend

Y-o-Y Dine – in Sales (₹ million)

7,330

8,192

6,596

4,287

10,660

1,814

1,864

1,975

2,060

2,406

FY19

FY20

FY21

FY22

FY23

Q4 FY19

Q4 FY20

Q4 FY21

Q4 FY22

Q4 FY23

Share of business (%)

99.2%

96.7%

84.5%

76.7%

86.4%

98.6%

97.6%

87.2%

82.1%

85.8%

 Y-o-Y dine-in business growth driven by dine-in volume and price  Dine-in SSSG: 43.2% in FY23; 2.1% in Q4 FY23

Delivery: Y-o-Y decline of 16.5% in FY23 & 12.4% in Q4

Y-o-Y Annual Trend

Y-o-Y Quarterly Trend

Y-o-Y Delivery Sales (₹ million)

1,980

1,653

770

261

FY20

FY21

FY22

FY23

FY19

Share of business (%)

0.4%

3.1%

15.2%

23.0%

13.4%

446

391

285

Q4 FY21

Q4 FY22

Q4 FY23

12.6%

17.8%

13.9%

Q4 FY19

Q4 FY20 Share of business (%) 2.6%

1.1%

FY23 delivery revenues declined by 16.5% primarily led by decline in Average order value (AOV)

  Dum Safar launched across 150+ outlets; M-o-M growth in average daily sales

Increased contribution from own digital assets

User !!!

Cumulative App Downloads (In Mn)

Own Digital Assets Contribution1 (%)

4.7

5.1

4.2

5.4

5.7

24.1%

24.6%

28.7%

27.6%

29.2%

Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23



Increase in share of own digital channels in the dine-in business

Cumulative BBQ App downloads: 5.7mn+; 34% increase over Mar-22

4.4+ App Ratings

1) Own Digital Assets Contribution is calculated as revenue generated through Barbeque nation app and web bookings. Represents data for BBQ India only

Matured outlets continues to deliver strong revenue and margins

FY23 Metrics

Restaurant (#)

Matured1

New Restaurants1

154

Revenue from operations (₹ Mn)

10,235

Avg. Annual Revenue/Outlet (₹ Mn)

66.5

Restaurant Op. Margin(%)-without IND-AS(3)

18.9%

Restaurant Op. Margin(%)-with IND-AS(3)

27.7%

1) Restaurants with operations of more than 2 years are considered as “Matured” 2) Avg. Quarterly revenue/outlet is calculated on 201 restaurants i.e., average of opening and closing number of restaurants during the period 3) Restaurant Operating Margin represents margins of the restaurants and does not include other income

2,103

33.9

2.7%

14.6%

Total

216

12,338

61.5(2)

16.1%

25.5%

Weak demand scenario impacted overall performance in Q4 FY23

Q4 FY23 Metrics

Matured1

New Restaurants1

Restaurant (#)

Revenue from operations (₹ Mn)

Avg. Quarterly Revenue/Outlet (₹ Mn)

154

2,197

14.3

Restaurant Op. Margin(%)-without IND-AS(3)

14.5%

Restaurant Op. Margin(%)-with IND-AS(3)

24.5%

605

9.8

(1.2)%

11.7%

1) Restaurants with operations of more than 2 years are considered as “Matured” 2) Avg. Quarterly revenue/outlet is calculated on 214 restaurants i.e., average of opening and closing number of restaurants during the period 3) Restaurant Operating Margin represents margins of the restaurants and does not include other income

Total

216

2,802

13.1(2)

11.1%

21.7%

Annual revenue and margins trends

Revenue from Operations (₹ Mn)

Gross Profit (₹ Mn) and Margin (%)

65.5%

64.8%

64.6%

66.3%

8,470

FY20

5,071

FY21

8,606

FY22

12,338

FY23

3 yr CAGR: 13.4%

Reported EBITDA (₹ Mn) and Margin (%)

19.8%

18.2%

18.6%

19.3%

1,680

FY20

924

FY21

1,600

FY22

2,386

FY23

3 yr CAGR: 12.4%

5,548

FY20

3,288

FY21

5,558

FY22

3 yr CAGR: 13.8%

8,186

FY23

Adjusted EBITDA* (₹ Mn) and Margin (%)

9.4%

(0.5%)

7.0%

10.3%

796

FY20

(26)

FY21

605

1,267

FY22

FY23

3 yr CAGR: 16.8%

*Adjusted EBITDA is EBITDA without IND AS 116 adjustments and excludes non cash ESOP provisions. All margins are calculated as % of Revenue from operations.

Quarterly revenue and margin trend

Revenue from Operations (₹ Mn)

Gross Profit (₹ Mn) and Margin (%)

64.2%

66.6%

64.6%

65.8%

1,910

2,263

2,510

2,802

1,227

1,508

1,622

1,843

Q4 FY20

Q4 FY21

Q4 FY22

Q4 FY23

Q4 FY20

Q4 FY21

Q4 FY22

Q4 FY23

3 yr CAGR: 13.6%

3 yr CAGR: 14.5%

Reported EBITDA (₹ Mn) and Margin (%)

Adjusted EBITDA* (₹ Mn) and Margin (%)

12.9%

24.8%

20.1%

15.0%

1.4%

14.2%

9.6%

4.6%

246

561

504

421

Q4 FY20

Q4 FY21

Q4 FY22

Q4 FY23

3 yr CAGR: 19.7%

322

242

129

Q4 FY20

Q4 FY21

Q4 FY22

Q4 FY23

3 yr CAGR: 69.0%

*Adjusted EBITDA is EBITDA without IND AS 116 adjustments and excludes non cash ESOP provisions. All margins are calculated as % of Revenue from operations.

Consistent long term SSSG growth

Same store sale growth (%)

6.1%

FY14

5.5%

FY15

4.2%

FY16

1.9%

FY17

7.2%

FY18

5.5%

FY19

Avg SSSG of 5.1%

 

Long term SSSG of more than 5% SSSG to be driven by price, volumes and increase in delivery

3 yr SSSG CAGR : 5.7%

64.7%

27.5%

FY20 (2.2)%

FY21

FY22

FY23

(44.3)%

COVID Impact

Multiple levers of growth

FY2017

FY2023

BBQ India Dine-in

97.2%

Others

2.8%

BBQ India Dine-in

75.2%

Others

24.8%

 Non BBQ India dine-in share of business increased from

2.8% in FY17 to 24.8% in FY23

 BBQ India and Toscano growth led by network expansion

and SSSG

 UBQ and Dum Safar growth driven by increase in ADS

 Calibrated international growth

Toscano: Y-o-Y revenue growth of 66.9%

Revenue from Operations (₹ Mn)

Reported EBITDA (₹ Mn) and Margin (%)

21.6%

26.7%

25.9%

26.6%

449

FY20 Network

226

FY21

466

FY22

911

FY23

FY20

FY21

121

FY22

243

FY23

Key Priorities :

Strong revenue growth supported by volume growth; Strong operating margins

  Contributed 7.4% to consolidated revenues in FY23  Plan to add 5 restaurants in FY24

Barbeque Nation International : Y-o-Y revenue growth of 30.1%

Revenue from Operations (₹ Mn)

Reported EBITDA (₹ Mn) and Margin (%)

15.8%

18.7%

34.4%

34.8%

501

FY20 Network

322

FY21

540

FY22

703

FY23

FY20

FY21

186

FY22

244

FY23

Key Priorities :

 Robust revenue growth driven by volume and price; strong operating margins  Contributed 5.7% to consolidated revenues in FY23  No store added over last three years  Plan to add 3 restaurants in FY24

International

Consolidated P&L

₹ Millions Revenue from operations Other Income Total Revenue Cost of food and beverages consumed Employee related expenses Occupancy and other expenses EBITDA EBITDA % Finance costs Depreciation and amortisation Exceptional items Profit before tax Tax expense Profit/(loss) after tax Profit/(loss) after tax % Adjusted profitability* Adjusted EBITDA Adjusted EBITDA % Adjusted Profit/(loss) before tax Adjusted Profit/(loss) before tax %

Q4 FY23 2,802 22 2,825 959 669 775 421 15.0% 180 366 17 (142) (26) (116) (4.1)%

129 4.6% (107) (3.8)%

Q4 FY22 2,510 59 2,569 888 530 647 504 20.1% 162 340 0 2 (3) 5 0.2%

242 9.6% 60 2.4%

Y-o-Y Gr% 11.6% (62.0)% 10.0% 8.0% 26.3% 19.8% (16.5)%

10.7% 7.9%

(46.5)%

FY23 12,338 80 12,418 4,152 2,676 3,204 2,386 19.3% 717 1,450 (38) 257 66 191 1.6%

1,267 10.3% 438 3.5%

FY22 8,606 263 8,868 3,047 1,886 2,335 1,600 18.6% 653 1,273 (5) (321) (69) (252) (2.9)%

605 7.0% (140) (1.6)%

Y-o-Y Gr% 43.4% (69.5)% 40.0% 36.2% 41.9% 37.2% 49.1%

9.8% 13.9%

109.3%

*Adjusted EBITDA and PBT is calculated without the impact of IND AS 116 and excludes non cash ESOP related provisions and exceptional items. All margins are calculated as % of Revenue from operations.

Consolidated Balance Sheet

Particulars (₹ Millions)

Equity Share capital Other equity Non-controlling interest Total Equity Financial Liabilities Borrowings Lease Liability Provisions Total Non-Current Liabilities Financial Liabilities Borrowings Lease Liability Trade payables

- total outstanding dues of MSME - total outstanding dues other than MSME

Other financial liabilities Other current liabilities Provisions Current tax liabilities (Net) Total Current Liabilities Total Liabilities Total Equity and Liabilities

31-Mar-23

31-Mar-22

Particulars (₹ Millions)

31-Mar-23

31-Mar-22

195 3,816 82 4,094

76 5,998 115 6,190

119 651

117 1,119 95 131 70 4 2,306 8,495 12,589

195 3,665 93 3,953

144 5,295 104 5,543

73 592

25 963 71 128 64 0 1,917 7,460 11,413

Property, plant and equipment

Right-of-use assets

Capital work-in-progress

Goodwill

Other intangible assets

Other financial assets

Deferred tax assets (net)

Other non-current assets

Total Non-current assets

Inventories

Financial assets

Trade receivables

Cash and cash equivalents

Current tax assets (Net)

Other current assets

Total Current Assets

Total Assets

3,790

5,556

273

723

421

509

11,373

421

426

259

1,216

12,589

3,078

4,877

212

723

395

541

9,918

358

853

216

1,494

11,413

Key Financial Metrics

Net Worth (₹ Mn)

Net Debt (₹ Mn)

Cash Profit (₹ Mn)

3,953

4,094

1,918

2,477

111

FY20

(927)

FY21

(636)

(230)

FY22

FY23

RoE (%)

(4.5)%

6.8%

(64.6)%

(126.5)% FY20

FY21

FY22

FY23

Notes: RoE = Pre IND AS 116 Proforma PAT / average networth; RoCE = Pre IND AS 116 Proforma EBIT / average capital employed

1,064

501

(149)

FY21

FY22

FY23

RoCE (%)

10.1%

(1.4)%

(37.3)% FY21

FY22

FY23

522

FY20

(11.5)%

FY20

ESG framework & initiatives

•

Plastic: Replaced single-use plastic bottles across 150+ outlets resulting in expected annual plastic waste reduction of ~100 tonnes

• Air: Using environment friendly solutions such as air scrubbers to clean air before discharging in the

environment

•

Energy: IOT based electricity management to ensure efficient power usage

Food: Procurement of seafood and meat from organizations which are certified for BAP/ HACCP and other quality and sustainability certifications

Employee Centric: Ranked 7th in India’s Best Companies to Work For, 2022 and 13th in the Best Workplaces in Asia in 2022 - Large Size category

• Diversity: 25% of the board of directors are female; Key management personnel also has 33% female

representation

• Board Independence: 6 of the total 8 board members are non-executive; 3 directors including Chairman of the

board are independent directors

•

Corporate Governance: Strong corporate governance practices along with well defined policies and practices

Disclaimer

This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Barbeque-Nation Hospitality Ltd (“Barbeque Nation” or the Company) future business developments and economic performance.

While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations.

These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Barbeque Nation undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.

All the number are on consolidated basis and without adjustment for the minority interest of 21.78% in Red Apple Kitchen, unless otherwise mentioned. All margin calculation are on Revenue from operations, unless otherwise mentioned.

For further information, please contact:

Bijay Sharma Head of Investor Relations Barbeque-Nation Hospitality Ltd. Investor@barbequenation.com

BARBEQUE NATION HOSPITALITY LTD. HEAD OFFICE Saket Callipolis, Unit No 601 & 602,6th Floor, Doddakannalli Village, Varthur Hobli,Sarjapur Road, Bengaluru, Karnataka 560035 India. E: feedback@barbequenation.com W: www.barbequenation.com

← All Transcripts UFBL Stock Page →

Barbeque Nation Hospitality Limited has informed the Exchange about Investor Presentation

Market Movers