India · Delayed Price · Currency is INR Travel Food Services Earnings Call Transcripts
Fiscal Year 2027
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Sales grew 18% YoY to INR 8.4B and PAT rose 35.6% despite flat passenger traffic, driven by network expansion and new outlets. EBITDA margin moderated to 35.8% due to ramp-up costs, but a strong cash position supports future growth. Over 50 new outlets are in development.
Fiscal Year 2026
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FY 2026 saw resilient growth with system-wide sales up 25.4% and PAT up 21.5% year-over-year, despite muted passenger traffic due to disruptions. Expansion continued across 20 airports and internationally, with robust margins, strong cash position, and a positive outlook for FY 2027.
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Q3 FY26 delivered strong results with system-wide sales up 28% year-over-year and adjusted PAT up 35.3%, driven by new unit mobilization and operational efficiency. The company expanded to over 530 outlets, maintained high margins, and remains debt-free, with robust growth expected from both domestic and international markets.
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Q2 FY26 saw robust 18.4% YoY system-wide sales growth and 15.3% PAT growth, despite temporary passenger traffic declines. Expansion continued with new outlets and brands, while margins remained strong and cash reserves increased.
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System-wide sales grew 26.7% YoY with robust like-for-like and net contract gains, while gross margin improved to 83% and PAT rose 19.3% YoY. Expansion continues in India and abroad, with recovery expected in air passenger traffic and strong contract renewal rates supporting future growth.