UFBLNSE6 November 2023

Barbeque Nation Hospitality Limited has informed the Exchange about Investor Presentation

United Foodbrands Limited

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

Date: November 6, 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 Sirs,

Subject: Earnings Presentation on Unaudited Financial Results of the Company for the

quarter and six months ended September 30, 2023

Ref.: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015

Please find enclosed a copy of the Earnings Presentation on Unaudited Financial Results of the Company for the quarter and six months ended September 30, 2023, which will be circulated to the Investors/Analysts for the Earnings Conference Call scheduled today i.e. on Monday, November 6, 2023 at 6:00 PM (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

Q2 FY24

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 17.57% in Red Apple Kitchen, unless otherwise mentioned. All margin calculation are on Revenue from operations, unless otherwise mentioned.

Q2 FY24 key highlights

Revenue from Operations

Dine-in Revenue

₹ 3,017 mn

₹ 2,575 mn

Delivery Revenue

₹ 437 mn

(2.8)% y-o-y

(4.9)% y-o-y

+11.3% y-o-y

Reported EBITDA

₹ 486 mn

(18.8)% y-o-y Margin: 16.1%

SSSG (%)

(10.7)%

Restaurant Network

212

Q2 FY23: 23.4%

Q2 FY23: 205

Revenue Mix (%) (BN India dine-in/Others)

Own Digital Assets Contribution (%)

71.6% / 28.4%

Q2 FY23: 76.6% / 23.4%

29.6%

Q2 FY23: 28.7%

H1 FY24 key highlights

Revenue from Operations

Dine-in Revenue

₹ 6,256 mn

₹ 5,330 mn

Delivery Revenue

₹ 910 mn

+0.0% y-o-y

(1.8)% y-o-y

+12.0% y-o-y

Reported EBITDA

₹ 994 mn

(25.5)% y-o-y Margin: 15.9%

SSSG (%)

(9.3)%

Restaurant Network

212

H1 FY23: 73.6%

H1 FY23: 205

Revenue Mix (%) (BN India dine-in/Others)

Own Digital Assets Contribution (%)

72.1% / 27.9%

H1 FY23: 76.2% / 23.8%

27.5%

H1 FY23: 26.7%

Y-o-Y Revenue growth: Flat in H1 FY24 & (2.8)% in Q2 FY24

Consolidated Revenue from Operations (₹ million)

Y-o-Y Trend (₹ million)

(2.8)%

3,105

3,017

2,103

2,209

761

6,254

6,256

4,229

3,229

859

Q2 FY20

Q2 FY21

Q2 FY22

Q2 FY23

Q2 FY24

H1 FY20

H1 FY21

H1 FY22

H1 FY23

H1 FY24

 H1 FY24 revenues were flat; Q2 FY24 revenues declined by 2.8% 

SSSG: (10.7)% in Q2 FY24

Dine-in: Y-o-Y revenue decline of 1.8% in H1 FY24 & 4.9% in Q2 FY24

Y-o-Y Dine – in Sales (₹ million)

Y-o-Y Trend (₹ million)

2,027

1,687

596

(4.9)%

2,709

2,575

4,101

5,427

5,330

2,142

651

Q2 FY20

Q2 FY21

Q2 FY22

Q2 FY23

Q2 FY24

H1 FY20

H1 FY21

H1 FY22

H1 FY23

H1 FY24

Share of business (%)

96.4%

78.3%

76.4%

87.2%

85.3%

97.0%

75.8%

66.3%

86.8%

85.2%

Seasonally weak quarter impacted by ‘vegetarian only’ days

  ~76% of the 4 month periods (Jul – Oct 2023) were vegetarian days (normally, its ~50%)

Delivery: Y-o-Y revenue growth of 12.0% in H1 FY24 & 11.3% in Q2 FY24

Y-o-Y Delivery Sales (₹ million)

Y-o-Y Trend (₹ million)

511

392

437

1,069

12.0%

812

910

160

123

202

Q2 FY20

Q2 FY21

Q2 FY22

Q2 FY23

Q2 FY24

H1 FY20

H1 FY21

H1 FY22

H1 FY23

H1 FY24

Share of business (%)

3.6%

21.1%

23.2%

12.6%

14.5%

2.9%

23.5%

33.1%

13.0%

14.5%

 Higher volume and average realization led revenue growth

Selective marketing campaigns

Targeted promotions to drive sales

Occasion based Social media engagements

Flavours @ Toscano

Seasonal impact across both matured and new portfolio

Average Annual Revenue/Outlet (₹ Mn) and Restaurant Operating Margin (%)

Matured

New

Total

19.2%

14.3% 13.3%

14.5%

2.3%

5.3%

(1.2)%

4.3%

5.0%

16.6%

11.1%

11.8%

11.2%

Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24

 Delivered Avg. Annual Revenue/Outlet run rate

of ₹ 61 Mn

 Delivered operating margins of 13.3%



Revenue/Outlet grew ~17% on Y-o-Y basis in Q2 FY24

 Margins improved despite lower revenues

vs. Q1FY24

 Avg. revenue/outlet of ₹57 Mn

 Maintained margins despite ~7% lower

sequential revenue

Note: Revenues are annualized basis the respective quarterly revenue 9

Calibrated restaurant network expansion

Added 4 new restaurants to the network in Q2

Expansion of Restaurant Network

Restaurant Composition

Added 4 new restaurants and closed 4 restaurants in Q2 FY24

212 Restaurants

164

185

216

200

204

212

133

104

FY15

FY16

FY17

FY18

FY19

FY20

FY21

FY22

FY23

FY24

Expected net network of 220 restaurants by FY24

188 BBQN India

8 BBQN International

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

FY23 162 54 216

Renovated 6 restaurants in H1 FY24

16 Toscano

H1 FY24 162 50 212

4 new restaurants added in Q2FY24

Bahrain – Dana Mall

Hyderabad - Uppal

Jamshedpur-Bistupur

Bangalore - Manyata Tech Park

Launched ‘Fiesta’: Brand extension to capitalize on Barbeque Nation’s strengths

• Differentiated all you can eat format

• Multi-Cuisine Buffet Restaurant

• Retains the core service focus of BN

• Vibrant and Youthful interiors

• Unique Service Style of Cloche

• Value offering

Fiesta: Vibrant and youthful interiors

Launched first restaurant in Kolkata

Dum Safar: Launched first kiosk

Own digital assets focus; app ratings of over 4.5

Cumulative App Downloads (In Mn)

Guest Ownership (Dine-in)

User !!!

5.1

5.4

5.7

6.0

6.3

Third Party 8.2%

App / Web 33.4%

Call Center 25.7%

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Own Digital Assets Contribution1 (%)

Walk-ins 32.7%

28.7%

27.6%

29.2%

25.5%

29.6%

Own over 90% of the dine-in guests via multiple touchpoints

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

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Completed ‘Blue Planet Foods’ acquisition

• Barbeque Nation Hospitality Limited (BNHL) and Red Apple Kitchen Consultancy Pvt. Ltd. (Toscano)

have jointly acquired majority stake of 53.3% in Blue Planet Foods Private Ltd (Salt)

• Blue Planet Foods runs an a-la-carte pan Indian cuisine restaurant chain under the brand name

‘Salt’

• Currently operates 6 restaurants and has 2 restaurants under construction / pipeline

•

Salt delivered revenues of ₹32.8 crores in FY23 with 19.4% EBITDA margin (pre-IND AS) and 10.0% PAT margin

Pre-Transaction Shareholding

Post Transaction Shareholding

Others 40%

Founders 60%

BNHL + Toscano 53%

Founders 47%

Strong Scalable Brand Portfolio

Concepts

Created

Acquired

Attributes

All-you-can-eat

Indian cuisine focused Affordable casual dining

Al-a-Carte / Delivery

Premium casual dining

Strong brands to capture broad spectrum of Indian food services landscape

Focus Areas Focus Areas

 Enhance guest experience

 Network rationalization



Focus on SSSG & profitability

 Cost optimization

 Upgrade assets

 Drive digital assets growth

 UBQ Volume growth

 Dum Safar: Increase market

penetration

Barbeque Nation India Dine-in

Scale emerging verticals

Delivery

Portfolio Diversification

 Toscano and Salt:

o Expansion led growth

o Maintain SSSG & profitability

 Barbeque Nation International :

o Calibrated expansion

o Maintain SSSG & profitability

 Expand brand portfolio

 Acquisitions

Maintain Casual Dining Restaurant Leadership

Revenue and margin trend (1/2)

Revenue from Operations (₹ Mn)

Gross Profit (₹ Mn) and Margin (%)

66.1%

66.7%

65.8%

64.0%

65.9%

3,105

3,282

2,802

3,239

3,017

2,051

2,189

1,843

2,073

1,990

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Reported EBITDA (₹ Mn) and Margin (%)

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

19.3%

19.2%

15.0%

15.7%

16.1%

10.5%

10.7%

4.6%

5.8%

5.9%

599

631

421

508

486

326

351

129

188

177

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

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

Revenue and margin trend (2/2)

Revenue from Operations (₹ Mn)

Gross Profit (₹ Mn) and Margin (%)

65.0%

58.5%

63.5%

66.4%

64.9%

4,229

859

3,229

6,254

6,256

2,749

502

2,050

4,154

4,062

H1 FY20

H1 FY21

H1 FY22

H1 FY23

H1 FY24

H1 FY20

H1 FY21

H1 FY22

H1 FY23

H1 FY24

Reported EBITDA (₹ Mn) and Margin (%)

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

21.0%

(15.6)%

12.2%

21.3%

15.9%

10.5%

(71.1)%

(2.7)%

12.6%

5.8%

889

394

1,333

994

(134)

445

(611)

(88)

786

365

H1 FY20

H1 FY21

H1 FY22

H1 FY23

H1 FY24

H1 FY20

H1 FY21

H1 FY22

H1 FY23

H1 FY24

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

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 %

Q2 FY24 3,017 43 3,060 1,027 720 826 486 16.1% 195 443

(151) (32) (119) (4.0)%

177 5.9% (78) (2.6)%

Q2 FY23 3,105 16 3,121 1,054 679 789 599 19.3% 180 350 (33) 102 26 75 2.4%

326 10.5% 158 5.1%

Y-o-Y Gr% (2.8)% 167.3% (2.0)% (2.5)% 6.0% 4.7% (18.8)%

8.5% 26.6%

(45.6)%

H1 FY24 6,256 83 6,339 2,194 1,437 1,714 994 15.9% 382 818

(206) (46) (160) (2.6)%

365 5.8% (101) (1.6)%

H1 FY23 6,254 46 6,300 2,099 1,320 1,547 1,333 21.3% 354 702 (33) 310 75 236 3.8%

786 12.6% 412 6.6%

Q-o-Q Gr% 0.0% 80.0% 0.6% 4.5% 8.9% 10.8% (25.5)%

7.9% 16.6%

(53.5)%

*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.

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

For further information, please contact:

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

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Barbeque Nation Hospitality Limited has informed the Exchange about Investor Presentation

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