Barbeque Nation Hospitality Limited has informed the Exchange about Investor Presentation
To, The Manager Listing Department BSE Limited P.J. Towers, Dalal Street, Mumbai – 400001
Date: May 22, 2025
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 Audited Financial Results of the Company for the
Quarter ended March 31, 2025
Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose the copy of Earnings Presentation on Audited Financial Results of the Company for the Quarter ended March 31, 2025, which will be placed on the Company’s website, for the Earnings Conference Call scheduled today i.e. Thursday, May 22, 2025 at 5:00 PM (IST).
This is for your information and records.
Thanking you.
Yours faithfully, For Barbeque-Nation Hospitality Limited
Nagamani C Y Company Secretary & 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
Q4 FY2025
02
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 numbers are on consolidated basis and without adjustment for the minority interest of in Red Apple Kitchen Consultancy and in Blue Planet Foods unless otherwise mentioned. All margin calculation are on Revenue from operations, unless otherwise mentioned.
Q4 FY25 Key Financial Highlights
03
Revenue from Operations
₹ 2,928 mn
Restaurant Network
230
SSSG (%)
Dine-in/ Delivery Mix
(2.0)%
84%/16%
(1.8)% y-o-y
Q4 FY24: 217
Q4 FY24: 1.4%
Q4 FY24: 84%/16%
Gross Profit
₹ 2,006 mn
(2.3)% y-o-y Margin: 68.5%
Operating EBITDA
₹ 533 mn
(2.5)% y-o-y Margin: 18.2%
Adjusted Operating EBITDA*
₹ 190 mn
(20.6)% y-o-y Margin: 6.5%
Cash Profit
₹ 158 mn
(25.1)% y-o-y % of Revenue: 5.4%
*Adjusted Operating EBITDA is calculated without the impact of IND AS 116, excludes other income and non cash ESOP provisions
FY25 Key Financial Highlights
04
Revenue from Operations
₹ 12,330 mn
(1.7)% y-o-y
Gross Profit
₹ 8,412 mn
+0.6% y-o-y Margin: 68.2%
Restaurant Network
230
FY24: 217
Operating EBITDA
₹ 2,113 mn
(0.4)% y-o-y Margin: 17.1%
SSSG (%)
Dine-in/ Delivery Mix
(3.8)%
85%/15%
FY24: (6.5)%
FY24: 85%/15%
Adjusted Operating EBITDA*
Cash Profit
₹ 906 mn
₹ 790 mn
(1.8)% y-o-y Margin: 7.4%
(4.3)% y-o-y % of Revenue: 6.4%
*Adjusted Operating EBITDA is calculated without the impact of IND AS 116, excludes other income and non cash ESOP provisions
05
Q4 FY25 Key Business Updates
Business Segments
Performance Updates
1. Barbeque Nation India
2. Barbeque Nation International
• Added 2 new restaurants in Q4 FY25; Current network of 191 restaurants; 5 restaurants
under fit-out • SSSG of (2.9)% • Maintained gross margin of ~67%; Efficient operating cost management • Pre IND-AS restaurant operating margin of 10.1% in Q4 FY25 & 12.0% in FY25
• Launched Barbeque Nation in Colombo, Sri Lanka in Q4 FY25; Current network of 9
restaurants; Another 3 restaurants under fit-out • Y-o-Y revenue growth of ~11% led by strong SSSG • Maintained gross margin of 75% • Pre IND-AS Restaurant operating margin of ~30% in Q4 FY25 & 25.5% in FY25
3. Premium CDR
• Added 2 new restaurants in Q4 FY25; Current network of 30 restaurants; 4 restaurants
under fit-out
• Strong revenue growth of 11% supported by network addition • Pre IND-AS Restaurant operating margin of 15% in Q4 FY25; 17.6% in FY25
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
06
Launched 18 New Restaurants in FY25
Expansion of Restaurant Network
Restaurant Composition
Added 18 restaurants and closed 5 restaurants in FY25
4
1
5
1
5
1
4
2
216
217
213
217
220
225
230
164
185
FY21
FY22
FY23
FY24
Q1
Q2
Q3
Q4
FY25
12 Sites under fit-out; To be operational in H1 FY26
230 Restaurants
191 BBQN India
9 BBQN International
Presence Metros & Tier I Tier II & III Cities Total Network
Mar-24 168 49 217
30 Premium CDR
Mar-25 180 50 230
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
07
New restaurant launches in Q4FY25
Colombo, Sri Lanka (Barbeque Nation)
Seawoods, Mumbai (Toscano)
Dhanbad (Barbeque Nation)
Kalyani, Pune (Salt)
Knowledge City (Barbeque Nation)
Enhancing guest experience through vibrant designs
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
08
Consolidated Financial Performance – Quarterly Trend
Network (#) and Annualized Revenue/Outlet (₹ Mn)
Revenue from Operations (₹ Mn)
217
219
222
226
230
2,981
3,057
3,057
3,289
2,928
▪ Y-o-Y revenue lower by 1.8% primarily due to decline in India business
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
▪ Consolidated SSSG% of
Annualized Revenue/Outlet (₹ Mn)
SSSG (%)
55
55
56
60
53
1.4%
(7.4)%
(2.5)%
(2.0)%
(2.0)%
Gross Profit (₹ Mn) and Margin (%)
Pre IND-AS Restaurant Operating Margin (₹ Mn)
2,053
2,081
2,081
2,244
2,006
429
421
380
543
368
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Gross Margin (%)
Q4 FY24 ROM (%)
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
68.9%
68.1%
68.1%
68.2%
68.5%
14.4%
13.8%
12.4%
16.5%
12.6%
(2.0)%; Marginal improvement in SSSG trend
▪ Maintained strong gross
margins
▪ Pre IND-AS Restaurant
operating margin of 12.6%
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
09
Consolidated Financial Performance – Annual Trend
Network (#) and Annualized Revenue/Outlet (₹ Mn)
Revenue from Operations (₹ Mn)
▪ Added 18 new restaurants
over last year
▪ Y-o-Y revenue lower by
164
185
216
217
230
5,071
8,606
12,338
12,545
12,330
1.7%
FY21
FY22
FY23
FY24
FY25
FY21
FY22
FY23
FY24
FY25
Annualized Revenue/Outlet (₹ Mn)
SSSG (%)
31
47
57
58
55
(44.3)%
64.6%
27.5%
(6.5)%
(3.8)%
Gross Profit (₹ Mn) and Margin (%)
Pre IND-AS Restaurant Operating Margin (₹ Mn)
3,288
5,558
8,186
8,361
8,412
445
1,154
1,989
1,702
1,711
FY21
FY22 Gross Margin (%)
FY23
FY24
FY25
FY21 ROM (%)
FY22
FY23
FY24
FY25
64.8%
64.6%
66.3%
66.6%
68.2%
8.8%
13.4%
16.1%
13.6%
13.9%
▪
SSSG of (3.8)% in FY25 vs (6.5)% in FY24
▪ Y-o-Y gross margin improvement
▪ Pre IND-AS Restaurant operating margin of 13.9%; improvement of 30bps vs last year led by efficient cost management
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
010
Delivery Business Growth of 3% y-o-y
Dine – in Sales (₹ million)
Delivery (₹ million)
2,484
2,600
2,585
2,775
2,442
466
448
453
514
480
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Share of business (%)
Share of business (%)
83.3%
85.0%
84.6%
84.4%
83.6%
15.6%
14.7%
14.8%
15.6%
16.4%
▪ Dine-in business lower by 1.7%
▪ Delivery business grew by ~3% y-o-y
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
011
Operating Performance: Matured vs New
Average Annual Revenue/Outlet (₹ Mn) and Pre IND-AS Restaurant Operating Margin (%)
Matured
New
Consolidated
16.1%
15.0%
17.4%
13.3%
13.8%
59
59
57
62
54
7.8%
8.2%
5.8%
9.6%
7.0%
45
46
46
48
45
14.4%
13.8%
12.4%
16.5%
12.6%
55
55
56
60
53
Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
▪ Matured restaurants delivered average
▪ New restaurants portfolio delivered 7.0%
▪ Avg. revenue/outlet of ₹53 Mn with pre IND-
annualized revenues of ₹54 Mn with 13.8% operating margin
operating margins
AS ROM of 12.6%
Note: Revenues are annualized basis the respective quarterly revenue; Restaurants with operations of more than 2 years are considered as “Matured”
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
012
Barbeque Nation India Performance – Quarterly Trend
Network (#) and Annualized Revenue/Outlet (₹ Mn)
Revenue from Operations (₹ Mn)
186
186
187
190
191
2,398
2,466
2,443
2,618
2,280
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Annualized Revenue/Outlet (₹ Mn)
SSSG (%)
51
53
52
57
50
0.9%
(8.8)%
(3.0)%
(2.6)%
(2.9)%
Gross Profit (₹ Mn) and Margin (%)
Pre IND-AS Restaurant Operating Margin (₹ Mn)
1,623
1,641
1,626
1,746
1,526
294
293
269
389
231
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Gross Margin (%)
Q4 FY24 ROM (%)
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
67.7%
66.5%
66.6%
66.7%
66.9%
12.3%
11.9%
11.0%
14.9%
10.1%
▪ Added net 5 new restaurants
over last year
▪ Revenue declined by ~5% y-o-y led by negative SSSG and low store expansion
▪ Maintained strong gross margins
▪ Pre IND-AS Restaurant operating margin of 10.1%; Y-o-Y margin impact due to operating deleverage
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
013
Barbeque Nation India Performance – Annual Trend
Network (#) and Annualized Revenue/Outlet (₹ Mn)
Revenue from Operations (₹ Mn)
147
168
196
186
191
4,533
7,611
10,738
10,456
9,807
FY21
FY22
FY23
FY24
FY25
FY21
FY22
FY23
FY24
FY25
Annualized Revenue/Outlet (₹ Mn)
SSSG (%)
31
45
55
56
53
(44.9)%
62.7%
24.6%
(8.0)%
(4.4)%
▪ Added net 5 new restaurants
over last year
▪ Revenue declined by 6.2% y-o-y led by negative SSSG and low store expansion; SSSG of (4.4)% in FY25 vs (8.0)% in FY24
▪ Contributed 79.0% to the
Gross Profit (₹ Mn) and Margin (%)
Pre IND-AS Restaurant Operating Margin (₹ Mn)
consolidated revenues in FY25
2,891
4,819
6,994
6,812
6,539
411
946
1,588
1,186
1,182
FY21
FY22 Gross Margin (%)
FY23
FY24
FY25
FY21 ROM (%)
FY22
FY23
FY24
FY25
63.8%
63.3%
65.1%
65.1%
66.7%
9.1%
12.4%
14.8%
11.3%
12.0%
▪ Gross margins improved by 160
bps
▪ Pre IND-AS Restaurant
operating margin increased 70 bps to 12.0% led by efficient operating management despite negative SSSG
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
014
Enhancing Guest Experience through Food Festivals
Lazeez-e-Gosht Festival
Launched food festival ‘Lazeez-e-Gosht’ during the month of ramadaan to be a part of festive celebrations of guests
Special delicacies offered during the festival: Galouti Kebab, Nihari Gosht, Hyderabadi Haleem, Zaffrani Biryani, Shahi Mutton Korma and many other succulent meat dishes
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
015
Driving Volume Growth through Value Offerings
Value Based Promotions
Special day engagement
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
016
~34% dine-in bookings from Barbeque Nation App and website
User !!!
Cumulative App Downloads (In Mn)
7.2
7.4
7.1
6.7
6.8
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Dine-in bookings – App & Website (%)
29.2%
29.6%
29.9%
31.7%
33.6%
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
017
Near Term Priorities
Establish Barbeque Nation as preferred celebration destination
Enhance the Guest experience through culinary and service innovation
Revive same store sales growth
Drive network expansion of 8-10%
Efficient cost controls to drive operating margins
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
018
Barbeque Nation International Performance – Quarterly Trend
Network (#) and Annualized Revenue/Outlet (₹ Mn)
Revenue from Operations (₹ Mn)
8
8
8
8
9
237
239
218
253
264
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Annualized Revenue/Outlet (₹ Mn)
SSSG (%)
119
119
109
126
132
5.5%
(8.6)%
2.0%
5.2%
10.9%
Gross Profit (₹ Mn) and Margin (%)
Pre IND-AS Restaurant Operating Margin (₹ Mn)
176
178
159
188
198
61
60
44
66
78
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Gross Margin (%)
Q4 FY24 ROM (%)
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
74.1%
74.6%
73.1%
74.5%
74.8%
25.7%
25.0%
20.3%
26.2%
29.6%
▪ Launched restaurant in
Colombo, Sri Lanka in Q4 FY25
▪ Revenue growth of ~11% y-o-y,
supported by strong SSSG
▪ Gross margin maintained at
~75%
▪ Strong operating performance and Pre IND-AS Restaurant operating margin of ~30%
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
019
Barbeque Nation International Performance – Annual Trend
Network (#) and Annualized Revenue/Outlet (₹ Mn)
Revenue from Operations (₹ Mn)
6
6
6
8
9
322
540
703
899
973
FY21
FY22
FY23
FY24
FY25
FY21
FY22
FY23
FY24
FY25
Annualized Revenue/Outlet (₹ Mn)
SSSG (%)
54
90
117
112
122
(32.2)%
68.9%
30.2%
4.6%
0.8%
Gross Profit (₹ Mn) and Margin (%)
Pre IND-AS Restaurant Operating Margin (₹ Mn)
232
398
519
669
723
11
123
172
234
248
FY21
FY22 Gross Margin (%)
FY23
FY24
FY25
FY21 ROM (%)
FY22
FY23
FY24
FY25
71.9%
73.7%
73.8%
74.4%
74.3%
3.3%
22.7%
24.5%
26.0%
25.5%
▪ Current portfolio of 9
restaurants
▪ Revenue growth of ~8% y-o-y, supported by SSSG and ramp up of new stores
▪ Contributed 8% to
consolidated revenues in FY25
▪ Stable gross margins at 74%
▪ Pre IND-AS Restaurant
operating margin of 25.5% in FY25
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
020
Guest engagement activities
Celebrating Ramadan
New Restaurant Launch in Sri Lanka
Ramadan Promotions in Malaysia
Launch by renowned cricketer ‘Arvinda de Silva’
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
021
Near Term Priorities
Enhance the Guest experience through culinary and service innovation
Maintain same store sales growth
2 restaurants under construction; Entering Saudi Arabia
Calibrated expansion to new markets ; add 4-6 restaurants every year
Strong operating cash flow generation to fund planned network expansion
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
022
Premium CDR Performance – Quarterly Trend
Network (#) and Annualized Revenue/Outlet (₹ Mn)
Revenue from Operations (₹ Mn)
23
25
27
28
30
357
363
406
432
397
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Annualized Revenue/Outlet (₹ Mn)
SSSG (%)
62
58
60
62
55
2.0%
0.9%
(1.6)%
(2.7)%
(5.5)%
▪ Added 2 new restaurants in Q4
FY25
▪ Revenue growth of ~11% y-o-y
primarily led by network expansion
▪ Gross margin remained stable
Gross Profit (₹ Mn) and Margin (%)
Pre IND-AS Restaurant Operating Margin (₹ Mn)
at ~75%
265
273
305
324
296
74
68
66
87
59
Q4 FY24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Gross Margin (%)
Q4 FY24 ROM (%)
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
74.4%
75.2%
75.1%
75.0%
74.5%
20.8%
18.9%
16.4%
20.2%
14.9%
▪ Pre IND-AS Restaurant
operating margin of 14.9% lower due to new restaurant additions
▪ Matured portfolio delivered 19.2% Pre IND-AS restaurant operating margin
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
023
Premium CDR Performance – Annual Trend
Network (#) and Annualized Revenue/Outlet (₹ Mn)
Revenue from Operations (₹ Mn)
11
11
14
23
30
FY21
FY22
FY23
FY24
FY25
Annualized Revenue/Outlet (₹ Mn)
226
FY21
SSSG (%)
466
911
1,232
1,598
FY22
FY23
FY24
FY25
21
42
65
54
57
(44.9)%
104.5%
69.6%
0.1%
(1.7)%
Gross Profit (₹ Mn) and Margin (%)
Pre IND-AS Restaurant Operating Margin (₹ Mn)
176
352
687
923
1,198
FY21
FY22 Gross Margin (%)
FY23
FY24
FY25
24
FY21 ROM (%)
85
228
281
281
FY22
FY23
FY24
FY25
77.7%
75.5%
75.5%
74.9%
75.0%
10.7%
18.1%
25.1%
22.8%
17.6%
▪ Added 7 new restaurants over
last year; Entered 3 new markets in FY25–Hyderabad, Delhi and Mumbai
▪ Robust revenue growth of ~30% y-o-y primarily led by network expansion
▪ Contributed 13.0% to the
consolidated revenues in FY25
▪ Gross margin remained stable
at 75.0%
▪ Pre IND-AS Restaurant
operating margin of 17.6%; Matured portfolio delivered 21.3% Pre IND-AS restaurant operating margin
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
024
Menu Innovation at Toscano
New Menu Offerings
Special day Promotions
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
025
Menu Innovation at Salt
Consolidated
Barbeque Nation India
Barbeque Nation International
Premium CDR
026
Near Term Priorities
Enhance the Guest experience through culinary and service innovation
Network expansion growth of ~30%
Grow Toscano in newly launched cities i.e. Delhi, Mumbai and Hyderabad
Expand Salt to new metro markets
Maintain strong operating margins
Consolidated P&L
027
Particulars (INR Millions) Total Revenue Cost of food and beverages consumed Employee related expenses Occupancy and other expenses Operating EBITDA (excl. associates) Operating EBITDA% Share of profit in associate Operating EBITDA Operating EBITDA% Other Income Finance costs Depreciation and amortisation Profit before tax Tax expense Profit/(loss) after tax Profit/(loss) after tax% Adjusted profitability* Adjusted Operating EBITDA Adjusted Operating EBITDA% Cash Profit Cash Profit%
Q4 FY25 2,928 922 708 765 533 18.2% 1 533 18.2% 34 209 523 (165) 42 (206) (7.0)%
190 6.5% 158 5.4%
Q4 FY24 2,981 928 644 861 547 18.4%
547 18.4% 77 186 447 (9) (9) (0) (0.0)%
239 8.0% 211 7.1%
Y-o-Y Gr% (1.8)% (0.6)% 9.9% (11.2)% (2.6)%
(2.5)%
(55.9)% 12.3% 17.0%
(20.6)%
(25.1)%
FY25 12,330 3,919 2,967 3,332 2,113 17.1% 1 2,113 17.1% 158 779 1,765 (272) (1) (270) (2.2)%
906 7.4% 790 6.4%
FY24 12,545 4,184 2,803 3,436 2,122 16.9%
2,122 16.9% 176 759 1,679 (140) (28) (112) (0.9)%
923 7.4% 826 6.6%
Y-o-Y Gr% (1.7)% (6.4)% 5.9% (3.0)% (0.4)%
(0.4)%
(9.8)% 2.6% 5.1%
(1.8)%
(4.3)%
*Adjusted Operating EBITDA is calculated without the impact of IND AS 116, excludes other income and non cash ESOP provisions
Strategic focus areas
Maintain best-in-category guest experience to drive dine-in growth
300-325 restaurants by FY27
Build portfolio of scalable brands
Industry leading margins and strong cash flow generation
028
Establish Barbeque Nation as preferred celebration destination
Grow International business
Maintain leadership in casual dining industry
Aggressive expansion of premium CDR presence