Revenue soars three-fold for Barbeque Nation in Q1 FY23:
Barbeque-Nation Hospitality Ltd, which is one of the leading dining chains, on Monday, reported a net profit of Rs 16.02 Cr for June quarter 2022. The company had clocked a net loss Rs 43.85 Cr. in June 2021. Its revenue from operations was at Rs 314.86 Cr. during Q1 FY22 as against low revenue for March 2022 quarter. In Q1 FY21, Barbeque-Nation Hospitality’s revenue from operations was at Rs 101.97 Cr. Barbeque-Nation Hospitality total expenses were at Rs 244,41 Cr.
The Earnings Before Interest, Tax & Depreciation (EBITDA) stands at Rs. 73.4 Cr. VS a loss of Rs.10.4 Cr. in Q1FY22, margin stood at 23.3%. Profit Before Tax (PBT) stood at Rs. 20.8 Cr. as against Loss Before Tax of Rs. 55.9 Cr. in Q1FY21. The same-store sales growth of 182% (Y-o-Y) and dine-in to delivery revenue mix of 87% and 13% respectively.
What were the key drivers in the growth of revenue?
As per the management, they have opened 11 new restaurants which helped in growth of sales making overall network to 195 restaurants. The gradual opening of the economy has also contributed in dine-in and delivery channels. The cumulative Barbeque Nation App downloads were 4.7mn, 61% increase over June 21. The strong profitable growth across Toscano business and Barbeque Nation international business also were witnessed. The dine-in segment of the company demonstrated a robust growth of 6x compared to previous year and 32% growth from the previous year. The company has a 4 pillar growth namely Barbeque Nation India, Delivery segment, Toscano and Barbeque Nation international and is focused to grow each of these verticals to build one of India’s largest food services company owning its restaurant.
The EPS for the firm is currently is at Rs. 8.28 and P/E ratio for the stock is 147 times making it expensive for investors. The 5 yrs P/E and 3yrs P/E is -122. ROCE and ROE for the scrip is at 3.76% and -9.68 % respectively. The P/B is 12.3 times for Q1 FY23 and Debt to equity ratio stands at 1.58. It is currently traducing at Rs. 1,221 up by 2.15%.