Devyani International Share Price Target 2026: Brokerage firms Nuvama, Emkay, Motilal Oswal and Goldman Sachs have largely maintained a bullish stance on quick service restaurant operator Devyani International Ltd’s stock following its Q4 FY26 results, citing boost in topline growth, operational profitability and better margin performance.
At 9:29 AM on Monday, shares of Devyani International, the operator of KFC and Pizza Hut outlets, were trading at Rs 114.70, down 2.92 per cent from the previous close.
Nuvama on Devyani International
– Maintain Buy with a TP of Rs 156 (earlier 185)
– Green shoots visible; sustainability key
– KFC: Strong SSSG resulting to margin improvement
– Pizza Hut: Focus on operational discipline
– Other brands: Stable show with improvement in new brands
– Cut FY26/27E revenue by 0.6%/1.9% and EBITDA by 9.4%/9.0%
Emkay on Devyani International
– Maintain BUY with a TP of Rs 160 (Upside ~35.6%)
– Topline growth accelerates
– Q4 operating performance ~12% above expectations
– Potential inflation-led demand volatility remains a key monitorable
– Strategic recalibration aids KFC SSG
– KFC to lead store addition in FY27
– Pizza Hut expansion to remain curtailed
Motilal Oswal on Devyani International
– Maintain Buy with a TP of Rs 165 (earlier 155)
– KFC’s print improves; operational profitability in line
– Broadly retain our EBITDA estimates for FY27 and FY28
– Estimate an EBITDA gain of ~INR500m in FY28, considering weak QSR industry performance and any delay in the occurrence of synergy benefit
Goldman Sachs on Devyani International
– KFC SSSG grows 4.9% YoY in Q4FY26
– Value meals launched at Rs99 aiding customer acquisition
– Demand momentum continues into 1QFY27
– Dine-in led recovery supports better margin performance
– KFC store EBITDA rises 20% YoY in Q4
– Merger with Sapphire expected by March 2027
– Company strengthens leadership with COO, CTO and CMO hires
– Goldman Sachs raises target price to Rs 142 from Rs 130
Devyani International Ltd has reported a narrowing of consolidated net loss at Rs 9.84 crore in the fourth quarter ended March 31, 2026.
The company had posted a consolidated net loss of Rs 16.76 crore in the corresponding quarter of previous fiscal, said Devyani International Ltd, which operates brands, including KFC and Pizza Hut, in a regulatory filing.
Consolidated revenue from operations in the fourth quarter was at Rs 1,436.86 crore as against Rs 1,212.59 crore in the same period a year ago, it added.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
