Devyani International Ltd

Devyani International Ltd and Sapphire Foods India Limited have jointly filed an application with the Competition Commission of India (CCI). This filing is a step in the regulatory approval process for their proposed merger, as outlined in the Amended Scheme of Arrangement approved by their respective Boards on August 26, 2026. The merger, which involves Sapphire Foods India Limited merging with and into Devyani International Limited, is proceeding under the Companies Act, 2013.

Devyani International Ltd announced that Mr. Rohan Kichlu, CEO of Sanook Kitchen and a designated Senior Management Personnel, has resigned from his position. His resignation is effective from the close of business hours on August 31, 2026. The company cited personal reasons and pursuit of other career opportunities as the cause for his departure. The resignation letter and detailed disclosures as per SEBI regulations have been submitted.

Devyani International Limited (DIL) announced an amendment to its Scheme of Arrangement for amalgamation with Sapphire Foods India Limited (SFIL). The Share Purchase Agreement (SPA) for the secondary sale of SFIL shares by Sapphire Foods Mauritius Limited (SFML) to Arctic International Private Limited has been terminated by mutual agreement. Consequently, SFML will receive DIL shares as per the original scheme, similar to other SFIL shareholders. The termination of the secondary sale transaction means the condition precedent for the scheme's effectiveness has been removed. The share exchange ratio and other terms of the scheme remain unchanged. The company also provided updated post-scheme shareholding patterns.

Devyani International Limited (DIL) has amended its Scheme of Arrangement with Sapphire Foods India Limited (SFIL). The key change is the termination of a secondary sale transaction where Sapphire Foods Mauritius Limited (SFML) was to sell shares to Arctic International Private Limited. Consequently, SFML will now receive DIL shares as per the original scheme ratio, similar to other SFIL shareholders. The share exchange ratio and other terms of the merger remain unchanged. The termination of the secondary sale impacts the post-scheme shareholding of the promoter group. The amended scheme removes the secondary sale as a condition precedent, allowing the merger process to continue subject to approvals.

Devyani International Ltd. announced that its subsidiary, Devyani RK Private Limited, has been struck off from the register of companies by the Registrar of Companies. This action, taken under Section 248 of the Companies Act, 2013, is due to Devyani RK being a non-operational subsidiary with no business activity since its incorporation. The strike-off is effective from August 25, 2026, and Devyani RK has ceased to be a subsidiary of Devyani International Ltd. The company clarified that this event does not involve the sale or disposal of any operational units and is being disclosed for good corporate governance.

Devyani International Limited held its 35th Annual General Meeting (AGM) on August 14, 2026, via Webex facility. The meeting was attended by 349 members. Key agenda items included the adoption of audited financial statements for FY26, re-appointment of directors Mr. Raj Gandhi and Mr. Manish Dawar, and the re-appointment of Mr. Manish Dawar as Whole-time Director, President & Group Chief Executive Officer. All resolutions were passed with the requisite majority. The company also provided remote e-voting and during-AGM e-voting facilities.

Devyani International Ltd announced that its Nomination and Remuneration Committee has approved the grant of 27,13,700 stock options under its Employees Stock Option Scheme 2021. The options are granted to eligible employees at an exercise price of ₹101 per option. Each option is convertible into one fully paid-up equity share of face value ₹1. The disclosure indicates that the options will vest over time, with a minimum one-year period between grant and vesting. There is no lock-in period on the resulting equity shares, and they will rank pari passu with existing shares upon allotment. The company has uploaded detailed disclosures as per SEBI regulations.

Devyani International Limited (DIL) announced its Q1 FY2027 financial results, reporting a 16.5% year-on-year increase in revenues to ₹15,805 million. Same-store sales growth (SSSG) was positive across most brands, with KFC at +3.3%, Costa at +10.2%, and BBK & Vaango at +7.2% and +7.1% respectively. Operating EBITDA saw a significant 38% YoY increase, reaching ₹1,511 million with a 9.6% margin. Profit After Tax (PAT) was ₹171 million, the highest in eight quarters. The company's store network expanded to 2,255 stores, and it remains on track for its FY2027 store expansion targets. The merger process with Sapphire Foods is progressing as planned, with approvals from NSE and BSE received in June.

Devyani International Limited announced the outcome of its Board Meeting held on July 29, 2026. The Board considered and approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The results were accompanied by Limited Review Reports from the joint statutory auditors, Walker Chandiok & Co LLP and O P Bagla & Co LLP, which expressed an unmodified opinion. The company has uploaded these results and reports on its website.

Devyani International Ltd announced its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The Board of Directors approved these results in a meeting held on July 29, 2026. The company has submitted the results along with Limited Review Reports from its joint statutory auditors, Walker Chandiok & Co LLP and O P Bagla & Co LLP, who provided an unmodified opinion. The reports are available on the company's website.