United Foodbrands (BARBEQUE) Q4 24/25 earnings summary

Executive summary

• FY25 revenue was ₹12,330 million, down 1.7% year-over-year, with Q4 revenue at ₹2,928 million, down 1.8%.

• Net loss after tax for FY25 was ₹270 million, compared to a loss of ₹112 million in FY24; Q4 FY25 net loss was ₹206 million.

• Profitability was maintained with reported EBITDA at ₹2,113 million and margin at 17.1%.

• Restaurant network expanded to 230 outlets, with 18 new openings and 5 closures during FY25.

• The group operates a single segment focused on the restaurant business, predominantly in India, with some overseas operations.

Financial highlights

• Gross profit for FY25 was ₹8,412 million, up 0.6% year-over-year, with a margin of 68.2%.

• Operating EBITDA for FY25 was ₹2,113 million, down 0.4% year-over-year, with a margin of 17.1%.

• Adjusted operating EBITDA for FY25 was ₹906 million, down 1.8% year-over-year, with a margin of 7.4%.

• Cash profit for FY25 was ₹790 million, down 4.3% year-over-year.

• Q4 FY25 SSSG was (2.0)%, and FY25 SSSG was (3.8)%.

Outlook and guidance

• Targeting 300–325 restaurants by FY27, with aggressive expansion in premium CDR and international markets.

• CapEx for 35–40 new restaurants in FY26/FY27 estimated at ₹1,000–1,100 million per year, with additional ₹200 million for maintenance.

• Plans to drive network expansion by 8–12% and revive same-store sales growth.

• Focus on enhancing guest experience through culinary and service innovation.