Barbeque Nation records ~19% y-o-y growth in Q4 FY2021 revenue

Q4 FY21 Highlights

- Revenue from operations of Rs. 226 crores, up 18.5% y-o-y
- Reported EBITDA of Rs. 56 crores, up 128% y-o-y with margins of 24.8%
- Delivery revenue stood at Rs. 28 crores, up 471%
- Same store sales growth of 19.9%
- Own digital assets contribution of 24.7%

Barbeque Nation Hospitality Ltd (BSE: 543283 | NSE: BARBEQUE), one of the leading casual dining chains in India, announced its Q4FY21 & FY2021 results. The Company continued its strong recovery from the pandemic with consolidated revenues of Rs. 226 crores in Q4FY21, growth of 18.5% over same period last year. Reported EBITDA was Rs. 56 crores growing 128% over the same period last year.

The Company has developed an integrated digital ecosystem which has proved beneficial during the pandemic. With a new addition of delivery to the dine-in business, the Company has been able to broaden its reach and cater to new customers. Continued focus on investment into the digital platforms has provided the Company with an additional revenue source. The share of revenue from digital platforms increased to 24.7% from 20.1% in Q4 FY20, while the delivery business has grown ~6x in Q4 FY21 as compared to the same period last year.

Commenting on the business, Mr. Kayum Dhanani, Managing Director, said: "FY21 was a challenging year for the restaurant industry due to the pandemic induced lockdowns. However, we have adapted to the changing environment and have shown our resilience. During the year, the Company focused on the delivery vertical and launched a new product called Barbeque-in-a-Box. The product was launched to cater to the rapid progression of the delivery segment during the pandemic. With a strong digital presence through our own app and third-party delivery apps our delivery segment has grown from strength to strength. We opened 1 new store during Q4 FY21 and are planning to expand our network by opening 20 new stores during FY22. With multiple strategic initiatives and learnings from the previous year, we are well poised to continue our growth trajectory during the coming year."

Commenting on the performance, Mr. Rahul Agrawal, CEO, said: "Barbeque Nation has continued to show its resilience during the pandemic and has registered strong topline growth during the quarter. With the gradual opening of the economy and reopening of our outlets, we saw month on month increase in sales from our dine-in and delivery channels. We continue to focus on building the delivery business which has continued to grow post the recovery of the dine in segment. With these promising signs we expect the delivery segment to grow by 2x in FY22. We continue to cement our position as a leading casual dining and delivery business with efficient cost optimization, strong cash flow generation, growth in our delivery segment and market penetration strategy. Providing the safest environment for our guests and maintaining employee wellbeing continues to be our top priority."

Source : Equity Bulls

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