United Foodbrands (BARBEQUE) Q1 25/26 earnings summary

Executive summary

• Revenue from operations for Q1 FY26 was ₹2,970 million, down 2.8% year-over-year, mainly due to softer sales in the India segment, but performance was supported by a resilient business model and cost controls.

• Added seven new restaurants and closed one, expanding the network to 236 outlets, with 11 more under construction and progress toward a FY27 target of 300-325 outlets.

• Portfolio diversified across Barbeque Nation India, international, and premium CDR segments, with international and premium CDR showing strong growth.

• Dining remains the core business (85% of revenue), with delivery contributing 15% and showing positive SSSG in some brands.

• Board approved unaudited financial results, re-appointment of CEO, appointment of new COO and Secretarial Auditor, and proposed name change to United Foodbrands Limited.

Financial highlights

• Consolidated revenue for Q1 FY26 was ₹2,969.81 million, down 2.8% year-over-year, with consolidated SSSG at -3.4%.

• Gross margin was 67.7%, down 40 bps from Q1 FY25, with a balanced channel mix of 85% dine-in and 15% delivery.

• Consolidated reported EBITDA was ₹460 million (15.5% margin); adjusted operating EBITDA was ₹136 million (4.6% margin); cash profit was ₹105 million (3.5% margin).

• Net loss after tax for Q1 FY26 was ₹166.75 million, compared to a net loss of ₹43.44 million in Q1 FY25.

• Barbeque Nation India revenues declined 7% year-over-year to ₹2,290 million, with negative SSSG of 5.2%; international segment revenues grew 10% to ₹363 million, and premium CDR revenues rose 19% to ₹431 million.

Outlook and guidance

• On track to reach 300-325 restaurants by FY27, with 20-25 Barbeque Nation India openings annually and international expansion to add 4-6 new restaurants in the Middle East and Southeast Asia this year.

• Premium CDR network to grow by 30% with 12-15 new restaurants planned.

• Focus on reviving SSSG through volume growth, operational rigor, guest experience, and margin resilience.

• Board and management continue to focus on operational efficiency and strategic expansion, including recent acquisitions and proposed amalgamations.