India · Delayed Price · Currency is INR Restaurant Brands Asia Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw robust revenue and margin growth, with 11 consecutive quarters of positive sales and strong digital adoption. India led profitability, Indonesia showed turnaround progress, and a major equity infusion from Inspira will support future expansion.
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Q2 revenue grew 15.6% YoY to INR 568 crores, with gross margin up to 68.3% and strong dine-in and delivery traffic. Indonesia's Burger King shows steady ADS growth, but Popeyes remains a challenge. Store expansion and margin improvement initiatives continue.
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India delivered 12.6% revenue growth and improved margins, driven by strong dine-in traffic, digital adoption, and value menu strategies. Indonesia's Burger King business turned EBITDA positive, while Popeyes is piloting a new model amid ongoing challenges. Demand remains tight, with value offerings outperforming premium.
Fiscal Year 2025
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FY 2025 saw 11.8% revenue growth and a 32% rise in company-level EBITDA, driven by strong dine-in traffic, digital adoption, and menu innovation in India. Indonesia showed early recovery signs, with cost controls and strategic closures, but remains under review for future direction.
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Achieved 510 stores in India with strong dine-in and digital growth, while Indonesia saw early signs of recovery but remains challenged. India posted double-digit revenue growth and margin expansion; Indonesia focused on cost control and operational turnaround.
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India operations delivered strong profitability and traffic growth despite negative SSSG, while Indonesia faced ongoing macro and geopolitical headwinds, prompting cost controls and a focus on efficiency. Expansion in India remains on track, with digital transformation and value offerings driving engagement.
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Q1 FY25 saw record revenue and strong same-store sales growth in India, with continued expansion and digital innovation. Indonesia faced geopolitical headwinds but is positioned for recovery, with rationalized operations and a focus on cash break-even.