Leisure Services
Barbeque-Nation Hospitality Limited owns and operates a chain of casual dining restaurants under the Barbeque-Nation brand name in India, the United Arab Emirates, Oman, Malaysia, and Bahrain. It also owns and operates Italian restaurants under the Toscano brand name; and offers buffet packed in a box to cater to the delivery segment under the brand Barbeque in a Box. Barbeque Nation Hospitality Ltd. was formerly known as Barbeque-Nation Hospitality Private Limited and changed its name to Barbeque-Nation Hospitality Limited in March 2008. The company was incorporated in 2006 and is based in Bengaluru, India.
Valuation | |
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Market Cap | 1.31 kCr |
Price/Earnings (Trailing) | -202.67 |
Price/Sales (Trailing) | 1.04 |
EV/EBITDA | 5.62 |
Price/Free Cashflow | 15.45 |
MarketCap/EBT | -112.79 |
Fundamentals | |
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Revenue (TTM) | 1.26 kCr |
Rev. Growth (Yr) | 0.57% |
Rev. Growth (Qtr) | 7.89% |
Earnings (TTM) | -6.46 Cr |
Earnings Growth (Yr) | 4.53% |
Earnings Growth (Qtr) | 170.91% |
Profitability | |
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Operating Margin | -0.92% |
EBT Margin | -0.92% |
Return on Equity | -1.66% |
Return on Assets | -0.50% |
Free Cashflow Yield | 6.47% |
Balance Sheet: Reasonably good balance sheet.
Momentum: Stock price has a strong positive momentum. Stock is up 16.2% in last 30 days.
Insider Trading: There's significant insider buying recently.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Smart Money: Smart money is losing interest in the stock.
Dividend: Stock hasn't been paying any dividend.
Comprehensive comparison against sector averages
BARBEQUE metrics compared to Leisure
Category | BARBEQUE | Leisure |
---|---|---|
PE | -201.27 | 66.28 |
PS | 1.03 | 5.57 |
Growth | 1 % | 12.7 % |
BARBEQUE vs Leisure (2022 - 2025)
Summary of BARBEQUE-NATION HOSPITALITY's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated: Feb 25
Outlook:
Management anticipates gradual demand improvement, supported by government measures to boost consumption. They aim to accelerate network expansion, targeting 325 restaurants by FY27. Medium-term focus remains on scaling three segments: Barbeque Nation India, International, and Premium CDR (Toscano/Salt).
Key Highlights:
Segment Performance:
Margins & Efficiency:
Strategic Moves:
Expansion Plans:
Balance Sheet: Net debt at Rs.17 Cr (Dec 2024); robust cash conversion (Rs.30 Cr cash profit in Q3).
Challenges: SSSG recovery slower vs. peers; competition in casual dining. Focus on experience, smaller store formats, and price hikes (2"“3% annually) to drive growth.
Last updated: Feb 25
1. Question: Whether the acquisition of Willow Gourmet is a related party transaction, and why pursue this expansion given existing growth avenues in Toscano/Salt/international markets?
Answer: No related parties are involved. The investment aligns with the strategy to build scalable delivery-focused brands, leveraging synergies with existing cloud kitchens while maintaining disciplined capital allocation.
2. Question: Why is SSSG still negative despite QSR peers showing stabilization, and how is the company addressing this gap?
Answer: SSSG reflects a focus on protecting margins over deep discounting. Initiatives like menu innovation, store upgrades, and targeted marketing aim to improve trends. Margins are prioritized, with operating leverage expected once demand recovers.
3. Question: What is the ESOP cost for the quarter and its year-ago comparison?
Answer: ESOP cost for Q3 was Rs.2.5 crores, similar to the same quarter last year, with no significant new issuances.
4. Question: What is the planned split of new store additions between Barbeque Nation, Premium CDR (Toscano/Salt), and international segments over the next few years?
Answer: By FY27, Premium CDR will contribute ~20% of revenue. Expansion targets include 30% annual growth for Premium CDR, 8-10% for Barbeque Nation India, and 4-6 stores/year internationally.
5. Question: How does the company plan to improve margins in the Barbeque Nation India segment?
Answer: Efficiency measures include optimizing manpower (targeting 1% reduction), supply chain savings, and energy cost reductions, aiming for 200 bps margin improvement alongside SSSG recovery.
6. Question: What justifies the valuation of Willow Gourmet (9x sales) given its small scale, and how will it scale profitably?
Answer: Willow's premium unit economics, high customer repeat rates (62%), and synergies with existing kitchens justify the investment. Scaling will leverage Barbeque's 35+ Bangalore kitchens and cloud infrastructure.
7. Question: How is the company addressing regional SSSG disparities, particularly in underperforming southern markets?
Answer: Southern challenges stem from high competition and weak corporate demand. Upgrades to guest experience, localized festivals, and cost optimization are prioritized, with selective Tier-2/3 expansions paused.
8. Question: What is the rationale behind maintaining 51% ownership in Willow Gourmet versus a minority stake?
Answer: Majority control ensures strategic flexibility to scale or divest the brand. The investment cap is limited to 20% of operating cash flow to balance experimentation and core growth.
9. Question: How will the Premium CDR segment's store economics mature, and what is the revenue/margin trajectory?
Answer: New stores target Rs.6 crore annual revenue with 21-22% restaurant margins post-ramp-up (3-year payback). Mature stores achieve Rs.50-52 lakh/month, driven by smaller formats and premium pricing.
10. Question: How does dine-in vs. delivery performance compare to QSRs, and what drives the SSSG divergence?
Answer: Dine-in weakness (-2% SSSG) contrasts with delivery growth (+9%), similar to QSR trends. Barbeque's lower delivery mix (16% vs. QSRs' 50+) explains slower overall recovery, with margins prioritized over volume.
Understand BARBEQUE-NATION HOSPITALITY ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Shareholder Name | Holding % |
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SAYAJI HOUSEKEEPING SERVICES LIMITED | 29.69% |
JUBILANT FOODWORKS LTD | 9.34% |
Uti-Flexi Cap Fund | 6.99% |
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK MULTICAP FUND | 4.47% |
MASSACHUSETTS INSTITUTE OF TECHNOLOGY | 4.05% |
ICICI PRUDENTIAL MULTICAP FUND | 1.85% |
TATA MUTUAL FUND - TATA ELSS TAX SAVER FUND | 1.79% |
UTI INDIA DYNAMIC EQUITY FUND | 1.65% |
OLD BRIDGE FOCUSED EQUITY FUND | 1.52% |
XPONENTIA OPPORTUNITIES FUND I | 1.39% |
SABA RAOOF DHANANI | 1.27% |
LONG TERM EQUITY FUND | 1.14% |
ZUBER YUSUF DHANANI | 0.9% |
ZOYA DHANANI . | 0.75% |
ANISHA RAOOF DHANANI | 0.26% |
SADIYA RAOOF DHANANI | 0.25% |
KAYUM RAZAK DHANANI | 0.22% |
SANYA DHANANI . | 0.2% |
SHAMIM SHEIKH | 0.06% |
RAFIQUNNISA MAQSOOD MERCHANT | 0.05% |
Distribution across major stakeholders
Distribution across major institutional holders
Investor Care | |
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Shares Dilution (1Y) | 0.08% |
Diluted EPS (TTM) | -2.22 |
Financial Health | |
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Current Ratio | 0.52 |
Debt/Equity | 0.14 |
Detailed comparison of BARBEQUE-NATION HOSPITALITY against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
---|---|---|---|---|---|---|---|---|---|
JUBLFOOD | Jubilant FoodworksRestaurants | 46.1 kCr | 7.7 kCr | +2.35% | +52.69% | 122.59 | 5.99 | +42.77% | +70.64% |
DEVYANI | Devyani InternationalRestaurants | 21.26 kCr | 4.82 kCr | +15.80% | +6.70% | -543.8 | 4.41 | +46.48% | -139.41% |
WESTLIFE | WESTLIFE FOODWORLDRestaurants | 10.42 kCr | 2.47 kCr | -4.08% | -19.65% | 914.73 | 4.22 | +2.71% | -87.14% |
SPECIALITY | Speciality RestaurantsRestaurants | 642.5 Cr | 449.41 Cr | -3.26% | -29.97% | 27.66 | 1.43 | +6.37% | -71.65% |