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Indian (NIFTY) Restaurants Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies19
  • 7D1.0%
  • 3M-13.6%
  • 1Y-11.2%
  • YTDn/a

Last week, the Restaurants industry hasn't moved much but Devyani International is up 14% in that time. Unfortunately though, the industry is down 11% over the past 12 months. Earnings are forecast to grow by 51% annually.

Industry Valuation and Performance

Has the Indian Restaurants Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025₹4.5t₹786.0b-₹35,327,365,090.0036.4x-128.2x5.8x
Fri, 21 Nov 2025₹4.8t₹785.9b-₹35,380,496,090.0039.1x-134.4x6.1x
Sun, 19 Oct 2025₹5.2t₹760.3b-₹30,744,679,190.0044.9x-170x6.9x
Tue, 16 Sep 2025₹5.1t₹671.2b-₹29,808,202,990.0099.8x-171.1x7.6x
Thu, 14 Aug 2025₹4.9t₹666.3b-₹30,327,741,990.00151.1x-161x7.3x
Sat, 12 Jul 2025₹4.3t₹601.3b-₹26,004,979,000.00177.3x-166.1x7.2x
Mon, 09 Jun 2025₹4.3t₹601.2b-₹25,918,486,000.00163.5x-164.4x7.1x
Wed, 07 May 2025₹3.9t₹578.9b-₹22,929,800,610.0082.5x-168.4x6.7x
Fri, 04 Apr 2025₹3.6t₹556.2b-₹21,569,800,610.0081.6x-167.5x6.5x
Sun, 02 Mar 2025₹3.6t₹556.2b-₹21,569,800,610.0076.4x-169.2x6.6x
Tue, 28 Jan 2025₹3.7t₹532.5b-₹16,636,271,610.00103.7x-221.6x6.9x
Thu, 26 Dec 2024₹4.7t₹511.3b-₹15,846,271,610.00112.4x-294.3x9.1x
Sat, 23 Nov 2024₹4.1t₹502.9b-₹16,161,051,610.00100.2x-256.4x8.2x
Mon, 21 Oct 2024₹3.2t₹351.6b₹6.5b94.4x493.8x9.1x
Wed, 18 Sep 2024₹3.4t₹351.6b₹6.5b96.8x518.5x9.6x
Fri, 16 Aug 2024₹3.2t₹351.6b₹6.8b82x472x9.1x
Sun, 14 Jul 2024₹2.8t₹322.9b₹4.3b49x657.6x8.8x
Tue, 11 Jun 2024₹2.5t₹323.0b₹4.3b47.8x570.9x7.6x
Thu, 09 May 2024₹2.5t₹299.9b₹5.0b48.2x508.7x8.4x
Sat, 06 Apr 2024₹2.5t₹299.9b₹5.0b52.2x498.2x8.2x
Mon, 04 Mar 2024₹2.3t₹300.0b₹5.0b51.8x458.9x7.6x
Wed, 31 Jan 2024₹2.1t₹284.4b-₹3,330,346,350.0047.6x-618.2x7.2x
Fri, 29 Dec 2023₹2.0t₹282.5b-₹3,519,836,350.0032.6x-564.7x7x
Sun, 26 Nov 2023₹1.9t₹282.5b-₹3,519,836,350.0030.7x-533.5x6.6x
Tue, 24 Oct 2023₹1.8t₹266.6b-₹4,181,175,350.0025.9x-437.6x6.9x
Thu, 21 Sep 2023₹1.8t₹266.7b-₹4,179,974,350.0021.4x-432.5x6.8x
Sat, 19 Aug 2023₹1.6t₹264.9b-₹4,276,934,350.0025.5x-384.4x6.2x
Mon, 17 Jul 2023₹1.6t₹248.4b-₹4,698,509,350.0034x-333.5x6.3x
Wed, 14 Jun 2023₹1.5t₹248.4b-₹4,698,509,000.0033.8x-325.3x6.2x
Fri, 12 May 2023₹1.3t₹233.4b-₹6,955,721,440.0035x-193.1x5.8x
Sun, 09 Apr 2023₹1.2t₹232.0b-₹7,003,472,440.0032.1x-168.2x5.1x
Tue, 07 Mar 2023₹759.4b₹169.7b₹4.4b31x171.6x4.5x
Thu, 02 Feb 2023₹781.7b₹163.2b₹9.5b30.1x81.9x4.8x
Sat, 31 Dec 2022₹877.8b₹159.5b₹9.2b44.9x95x5.5x
Price to Earnings Ratio

95x


Total Market Cap: ₹877.8bTotal Earnings: ₹9.2bTotal Revenue: ₹159.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Restaurants Industry Price to Earnings3Y Average -20.8x202320242025
Current Industry PE
  • Investors are pessimistic on the Indian Restaurants industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 7.1x is higher than the industry's current PS ratio of 5.8x.
Past Earnings Growth
  • Total earnings for the Restaurants industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have grown 70% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does Indian Restaurants compare with similar industries?

IN Market1.42%
Consumer Discretionary1.19%
Hospitality1.18%
Restaurants0.98%
Hotels, Resorts and Cruise Lines1.55%
Casinos and Gaming-0.64%
Leisure Facilities-2.08%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
DEVYANI Devyani International₹145.1714.1%
+₹22.2b		-19.2%PS3.4x
SAPPHIRE Sapphire Foods India₹252.5710.7%
+₹7.8b		-22.2%PS2.7x
JUBLFOOD Jubilant FoodWorks₹563.651.7%
+₹6.3b		-20.0%PE125.6x
ETERNAL Eternal₹284.850.1%
+₹3.6b		3.6%PE1374.7x
SWIGGY Swiggy₹400.050.3%
+₹2.8b		-29.6%PS5.5x

Latest News

SWIGGY
₹400.05
Swiggy
7D
0.3%
1Y
-29.6%
ETERNAL
₹284.85
Eternal
7D
0.1%
1Y
3.6%

ETERNAL: New Service Foundation Will Drive Long Term Social Impact Upside

Analysts have marginally reduced their price target for Eternal by approximately 2 dollars, reflecting a slightly higher perceived risk profile and tempered revenue growth expectations, partially offset by modestly improved profit margin and valuation assumptions. What's in the News The board has approved the incorporation of Eternal General Service Foundation as a wholly owned subsidiary in India, focused on charitable and social welfare activities spanning hunger relief, healthcare, education, environmental sustainability, disaster response, social empowerment, animal welfare, and other public welfare programs (company filing).
505533
₹537.70
Westlife Foodworld
7D
0.9%
1Y
-34.4%

505533: Expanding Restaurant Network Will Drive Premium Earnings Multiple Through Fiscal 2027

Analysts have modestly increased their price target on Westlife Foodworld to ₹638.10 per share, reflecting slightly higher discount rate assumptions and stable growth and margin expectations that support a premium future earnings multiple. What's in the News Expanded footprint with a net addition of six outlets, taking the total to 450 restaurants across 72 cities and reinforcing the path toward the Vision 2027 target of 580 to 630 outlets by FY27 (Key Developments) Strengthened format mix with 108 Drive thrus, 436 McCafés, and 390 EOTF stores, supporting higher convenience and premiumization within the network (Key Developments) Chief Financial Officer Hrushit Shah resigned effective November 4, 2025, to relocate overseas and be with his family (Key Developments) Board meeting held on November 3, 2025, to review unaudited financial results for the quarter and half year ended September 30, 2025 (Key Developments) Valuation Changes Consensus Analyst Price Target: Fair value per share remains unchanged at ₹638.10, indicating stable long term earnings assumptions.
JUBLFOOD
₹563.65
Jubilant FoodWorks
7D
1.7%
1Y
-20.0%

JUBLFOOD Will Likely Benefit From Improving Profit Margins And Earnings Visibility

Analysts have modestly reduced their price target on Jubilant FoodWorks by about ₹10 to approximately ₹900 per share. They cited a lower required return, offset by expectations of faster revenue growth and stronger profit margins, along with a more reasonable future earnings multiple.
SAPPHIRE
₹252.57
Sapphire Foods India
7D
10.7%
1Y
-22.2%

SAPPHIRE: Steady Earnings Outlook Will Support Future Upside Despite Board Change

Analysts have kept their price target for Sapphire Foods India unchanged at ₹330, reflecting stable expectations. Modest tweaks to the discount rate and future valuation multiples are seen as broadly offsetting each other in their models.
RBA
₹63.42
Restaurant Brands Asia
7D
-0.1%
1Y
-18.9%

Restaurant Brands Asia Limited's (NSE:RBA) Share Price Is Matching Sentiment Around Its Revenues

Dec 15
Restaurant Brands Asia Limited's (NSE:RBA) Share Price Is Matching Sentiment Around Its Revenues
526445
₹13.33
Indrayani Biotech
7D
-2.4%
1Y
-62.5%
DEVYANI
₹145.17
Devyani International
7D
14.1%
1Y
-19.2%

Devyani International Limited's (NSE:DEVYANI) Intrinsic Value Is Potentially 26% Below Its Share Price

Dec 12
Devyani International Limited's (NSE:DEVYANI) Intrinsic Value Is Potentially 26% Below Its Share Price
539659
₹54.90
Vikram Kamats Hospitality
7D
-0.2%
1Y
-27.0%
534425
₹110.70
Speciality Restaurants
7D
-3.3%
1Y
-24.9%
TRAVELFOOD
₹1,209.80
Travel Food Services
7D
-3.8%
1Y
n/a
531652
₹127.65
UVS Hospitality and Services
7D
6.4%
1Y
-23.1%
506134
₹12.25
Gourmet Gateway India
7D
-14.0%
1Y
-53.8%
COFFEEDAY
₹35.60
Coffee Day Enterprises
7D
5.4%
1Y
49.5%