RBA

Restaurant Brands Asia share price & financials

Price
₹73.67
Market cap
₹7.0k Cr
Sector
Consumer Services
Calls analysed
7
Latest concall · Q1 FY27 · call held 03 Aug 2026

Restaurant Brands Asia Limited Q1 FY27

Consolidated Revenue ₹823 cr +18%Consolidated PAT ₹-33 cr

What went well

  • India SSSG at 12.6%, highest in 15 quarters.
  • India Revenue at INR 682 crores, up 23.6% YoY.
  • India Restaurant Level EBITDA at INR 90 crores, up 68.1% YoY.

What to watch

  • Popeyes Indonesia reported a loss of INR 3 crores.
  • Consolidated loss after tax of INR 33 crores.
Read the full call →

What Restaurant Brands Asia Limited does

Restaurant Brands Asia is the exclusive master franchisee of the global Burger King brand in India and Indonesia, and of Popeyes in Indonesia, operating a network of company-run quick-service restaurants under long-term franchise agreements with the global brand owners. It earns revenue by selling burgers, fried chicken and snack items to dine-in, delivery and takeaway customers across this restaurant network. A dedicated BK Café format, embedded within most Burger King restaurants, adds a coffee, beverages and dessert daypart offering. The company runs a digital-first operating model — branded King's Journey — using its own app, self-order kiosks and QR/table ordering to route the majority of guest orders through digital rather than staffed counter channels.

Segments

  • India
  • Indonesia
Restaurants in India
581 (as of March 31, 2026)
Restaurants in Indonesia
162 — 137 Burger King + 25 Popeyes (FY26)
BK Café outlets in India
464, present in ~90% of restaurants (FY2025)
Restaurants on King's Journey 100% digital dine-in model
466 stores, ~90% of restaurant network (FY2025)
BK App installs
18 million+ (FY2025)
Franchise rights held
Sole master franchisee of Burger King in India and Indonesia, and of Popeyes in Indonesia
Founded 2014Headquarters Mumbai, India Company website

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 6 delivered 2 missed 7 open
  • India Gross Profit Margin (%) delivered said Q4 FY25 Promised: targeting ~70% by FY '29 Q1 FY27: India gross margin was 70.8%, remaining above the achieved target. A new, higher target of 72% has been set.
  • Indonesia Business Profitability missed said Q3 FY25 Promised: positive cash flow / breakeven very quickly Q1 FY27: Promise remains missed. While BK Indonesia is profitable at the restaurant level (₹6.4 cr EBITDA), Popeyes continues to post losses (₹3 cr loss), and the consolidated business is not at breakeven.
  • Total Restaurants (India) on track said Q4 FY25 Promised: about 800 restaurants by FY '29 Q1 FY27: Added 9 stores in India (from 581 to 590). Management reiterated the goal of adding 'around 80 restaurants on an annual basis', keeping the long-term target on track.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 17.9%, net profit up 26.7% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue632 639 633 698 703 +11%715 +12%707 +12%823 +18%
EBITDA63 70 73 73 71 +13%90 +29%95 +30%100 +37%
Net profit-65 -55 -60 -45 -63 +3%-48 +13%-47 +22%-33 +27%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +22.4% 1Y

₹60₹80₹100Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 6 Feb 2026Q4 FY26 — 15 May 2026Q1 FY27 — 3 Aug 2026

1Y: ₹80.1 on 10 Sept 2025 → ₹98.05. High ₹106.45 (24 Aug 2026), low ₹57.26 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+6.2%
3 Aug
Q4 FY26
+1.1%
15 May
Q3 FY26
−0.0%
6 Feb
Q2 FY26
−0.5%
4 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 11.2% a year over 3 years, FY23 to FY26. Operating margin widened to 11.7%.

Year endingFY23FY24FY25FY26
Revenue₹2.1k Cr₹2.4k Cr₹2.6k Cr₹2.8k Cr
Operating profit₹111 Cr₹241 Cr₹269 Cr₹329 Cr
Operating margin5.4%9.9%10.5%11.7%
Interest₹105 Cr₹142 Cr₹161 Cr₹190 Cr
Depreciation₹285 Cr₹357 Cr₹372 Cr₹389 Cr
Net profit₹-242 Cr₹-237 Cr₹-232 Cr₹-203 Cr
Net margin-11.8%-9.7%-9.1%-7.2%
Cash from operations₹124 Cr₹346 Cr₹350 Cr₹303 Cr
Free cash flow₹-228 Cr₹64 Cr₹73 Cr₹-70 Cr
ROCE-7.0%-5.0%-3.0%0.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹383 Cr₹493 Cr₹495 Cr₹496 Cr₹582 Cr₹583 Cr
Reserves₹-298 Cr₹548 Cr₹331 Cr₹130 Cr₹221 Cr₹138 Cr
Borrowings₹901 Cr₹887 Cr₹1.2k Cr₹1.4k Cr₹1.8k Cr₹2.0k Cr
Other liabilities₹977 Cr₹455 Cr₹500 Cr₹652 Cr₹737 Cr₹694 Cr
Total liabilities₹2.0k Cr₹2.4k Cr₹2.5k Cr₹2.7k Cr₹3.3k Cr₹3.4k Cr
Fixed assets₹1.4k Cr₹1.5k Cr₹2.0k Cr₹2.3k Cr₹2.6k Cr₹2.8k Cr
Capital work in progress₹47 Cr₹18 Cr₹35 Cr₹49 Cr₹57 Cr₹41 Cr
Investments₹124 Cr₹402 Cr₹147 Cr₹83 Cr₹281 Cr₹138 Cr
Other assets₹401 Cr₹448 Cr₹358 Cr₹256 Cr₹347 Cr₹402 Cr
Total assets₹2.0k Cr₹2.4k Cr₹2.5k Cr₹2.7k Cr₹3.3k Cr₹3.4k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +13.70 pp while FIIs trimmed −11.27 pp. The shareholder count grew 7% to 2,44,301.

Promoters
9.2%
FIIs
9.3%
DIIs
39.6%
Public
41.9%

Since Jun 2025

  • Public +13.70 pp
  • FIIs −11.27 pp
  • Promoters −2.05 pp

How it drifted, 12 quarters

Over this window FIIs fell from 29.9% to 9.3% — −20.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 15.4%, FIIs 29.9%, DIIs 22.2%, Public 32.4%.Dec '23: Promoters 15.4%, FIIs 26.9%, DIIs 23.7%, Public 34.0%.Mar '24: Promoters 15.4%, FIIs 24.9%, DIIs 23.1%, Public 36.6%.Jun '24: Promoters 15.3%, FIIs 18.8%, DIIs 28.4%, Public 37.5%.Sep '24: Promoters 13.2%, FIIs 17.5%, DIIs 37.8%, Public 31.6%.Dec '24: Promoters 13.2%, FIIs 15.3%, DIIs 38.8%, Public 32.7%.Mar '25: Promoters 11.3%, FIIs 20.4%, DIIs 40.5%, Public 27.9%.Jun '25: Promoters 11.3%, FIIs 20.5%, DIIs 40.0%, Public 28.2%.Sep '25: Promoters 11.3%, FIIs 20.6%, DIIs 40.1%, Public 28.0%.Dec '25: Promoters 11.3%, FIIs 16.8%, DIIs 37.3%, Public 34.7%.Mar '26: Promoters 11.3%, FIIs 10.6%, DIIs 45.6%, Public 32.5%.Jun '26: Promoters 9.2%, FIIs 9.3%, DIIs 39.6%, Public 41.9%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 10 holders trimming and 4 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Restaurant Brands Asia Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Lenexis Foodworks Private Limited 18.06%newly disclosed
Rajasthan Global Securities Private Limited NBFC / DFI9.51%+4.50 pp
Qsr Asia Pte Ltd 9.22%−2.04 pp
HDFC Trustee Company Limited-HDFC Flexi Cap Fund Mutual fund7.84%−1.73 pp
ICICI Prudential Life Insurance Company Limited Insurer5.39%−1.65 pp
Nippon Life India Trustee Ltd-A/C Nippon India Focused Equity Fund Mutual fund4.89%−1.08 pp
SBI Multi Asset Allocation Fund Mutual fund4.29%−1.59 pp
JM Financial Mutual Fund - JM Flexicap Fund Mutual fund2.41%−0.54 pp
Bajaj Life Insurance Limited Insurer1.87%−0.58 pp
Hara Global Capital Master Fund I Ltd FPI fund1.47%−0.33 pp
Motilal Oswal Large Cap Fund Mutual fund1.26%−0.32 pp
Vanguard Total International Stock Index Fund Global fund house1.03%−0.09 pp

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in RBA

Filings to Aug 2026

1 new, 0 added, 0 trimmed, 0 sold out — net +50.00 L shares (+7.3%).

Held by funds
₹614 Cr
5 schemes
Biggest holder
HDFC Flexi Cap Fund
₹223 Cr · 0.2% of that fund
SchemeHoldingLast month
HDFC Flexi Cap Fund HDFC Mutual Fund₹223 Crheld
Nippon India Focused Fund Nippon India Mutual Fund₹156 Crheld
Nippon India Growth Mid Cap Fund Nippon India Mutual Fund₹148 Crheld
Nippon India Value Fund Nippon India Mutual Fund₹49 Crnew
Nippon India Innovation Fund Nippon India Mutual Fund₹37 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

0 added, 0 trimmed — net +50.00 L shares (+7.3%)

Funds are sitting on
-29%
vs est. average cost
Held by funds
₹614 Cr
5 schemes · ≈ 7.7% of the company
Biggest holder
HDFC Flexi Cap Fund
₹223 Cr · 0.2% of that fund
Longest holder
Nippon India Focused Fund
4y 3m · since Jun '22

Shares held by these funds +162%

Aug '23 6.83 cr shares Jul '26

What the price assumes

Growth the price implies
A decline
for 7 years, fading to 4%
It has actually compounded at
Not enough history
The gap
—
between what it did and what it must do
Price today ₹98.05 Cyclical — a peak-earnings base overstates value

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Restaurant Brands Asia Limited

Guides on how to read this kind of business and the numbers that matter.