Shares of Barbeque Nation Hospitality were locked in 20 per cent upper circuit at Rs 767.50 on the BSE on Tuesday, after the company's reported consolidated Ebitda (earnings before interest, taxes, depreciation, and amortisation) more than doubled at Rs 56.1 crore in the March quarter (Q4FY21). The company, one of the leading casual dining chains in India, had Ebitda of Rs 24.6 crore in the year-ago quarter.
The company’s consolidated revenues grew 18.5 per cent year on year (YoY) at Rs 226 crore, while same store sales grew 19.9 per cent during the quarter. In Q4FY21, Ebitda margins improved to 24.8 per cent from 12.9 per cent in Q4FY20. On sequential basis, Ebitda margins contracted 70 basis points (bps) from 25.5 per cent in Q3FY21.
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 per cent from 20.1 per cent in Q4FY20, while the delivery business has grown around 6 times in Q4FY21 as compared to the same period last year.
The management said that with the gradual opening of the economy and reopening of outlets, the company saw month-on-month increase in sales from dine-in and delivery channels. The company continues to focus on building the delivery business which has continued to grow post the recovery of the dine in segment. With these promising signs the management expects the delivery segment to grow by two times in FY22.
Barbeque Nation is one of India’s leading casual dining restaurant chains. It currently owns and operates 147 outlets in India across 77 cities, 4 outlets in the UAE, 1 outlet in Malaysia and 1 outlet in Oman. The company pioneered the format of ‘over the table barbeque’ concept in Indian restaurants.
Barbeque Nation Hospitality had made its stock market debut on April 7, 2021. The company raised Rs 453 crore through initial public offering (IPO) by issuing shares at price of Rs 500 per share. Post listing, the stock hit a low of Rs 481.35 on April 7 and a high of Rs 839 on April 9 on the BSE.
Till 12:13 pm, a combined 1.2 million equity shares had changed hands and there were pending buy orders for 70,000 shares on the NSE and BSE, exchange data shows.