Devyani International Limited

NSEI:DEVYANI Stock Report

Market Cap: ₹182.4b

Devyani International Valuation

Is DEVYANI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DEVYANI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

₹111.44
Fair Value
32.8% overvalued intrinsic discount
25
Number of Analysts

Below Fair Value: DEVYANI (₹147.97) is trading above our estimate of fair value (₹111.44)

Significantly Below Fair Value: DEVYANI is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DEVYANI?

Key metric: As DEVYANI is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for DEVYANI. This is calculated by dividing DEVYANI's market cap by their current revenue.
What is DEVYANI's PS Ratio?
PS Ratio3.5x
Sales₹52.45b
Market Cap₹182.43b

Price to Sales Ratio vs Peers

How does DEVYANI's PS Ratio compare to its peers?

The above table shows the PS ratio for DEVYANI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.3x
TRAVELFOOD Travel Food Services
10.3xn/a₹169.9b
JUBLFOOD Jubilant FoodWorks
4.5x12.08%₹377.8b
SAPPHIRE Sapphire Foods India
2.9x12.74%₹86.9b
505533 Westlife Foodworld
3.5x12.20%₹89.8b
DEVYANI Devyani International
3.5x12.91%₹182.4b

Price-To-Sales vs Peers: DEVYANI is good value based on its Price-To-Sales Ratio (3.5x) compared to the peer average (5.3x).

Price to Sales Ratio vs Industry

How does DEVYANI's PS Ratio compare vs other companies in the IN Hospitality Industry?

8 CompaniesPrice / SalesEstimated GrowthMarket Cap
COFFEEDAY Coffee Day Enterprises
0.8xn/aUS$92.88m
UFBL United Foodbrands
0.6x8.32%US$86.89m
APOLSINHOT Apollo Sindoori Hotels
0.6xn/aUS$37.42m
526445 Indrayani Biotech
0.6xn/aUS$8.18m
DEVYANI 3.5xIndustry Avg. 4.0xNo. of Companies17PS03.26.49.612.816+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: DEVYANI is good value based on its Price-To-Sales Ratio (3.5x) compared to the Indian Hospitality industry average (4x).

Price to Sales Ratio vs Fair Ratio

What is DEVYANI's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DEVYANI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.5x
Fair PS Ratio4.5x

Price-To-Sales vs Fair Ratio: DEVYANI is good value based on its Price-To-Sales Ratio (3.5x) compared to the estimated Fair Price-To-Sales Ratio (4.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DEVYANI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹147.97
₹177.40
+19.89%
10.90%₹211.00₹139.00n/a25
Nov ’26₹161.80
₹179.76
+11.10%
10.66%₹210.00₹139.00n/a25
Oct ’26₹171.74
₹179.63
+4.59%
11.00%₹210.00₹138.00n/a24
Sep ’26₹175.15
₹179.63
+2.55%
11.00%₹210.00₹138.00n/a24
Aug ’26₹161.47
₹187.08
+15.86%
10.76%₹226.00₹139.00n/a25
Jul ’26₹168.67
₹187.08
+10.91%
10.76%₹226.00₹139.00n/a25
Jun ’26₹167.59
₹188.76
+12.63%
11.27%₹226.00₹139.00n/a25
May ’26₹178.65
₹190.00
+6.35%
11.39%₹226.00₹135.00n/a25
Apr ’26₹149.81
₹188.64
+25.92%
11.45%₹226.00₹142.00n/a25
Mar ’26₹165.02
₹188.84
+14.43%
11.77%₹230.00₹142.00n/a25
Feb ’26₹181.86
₹190.64
+4.83%
12.55%₹230.00₹147.00n/a25
Jan ’26₹183.13
₹183.91
+0.43%
10.73%₹215.00₹147.00n/a23
Dec ’25₹165.23
₹183.57
+11.10%
10.65%₹215.00₹147.00n/a23
Nov ’25₹170.97
₹191.82
+12.19%
11.30%₹222.00₹149.00₹161.8022
Oct ’25₹192.93
₹189.09
-1.99%
10.54%₹222.00₹149.00₹171.7422
Sep ’25₹175.91
₹188.96
+7.42%
10.30%₹222.00₹149.00₹175.1523
Aug ’25₹174.11
₹176.36
+1.29%
11.45%₹222.00₹145.00₹161.4722
Jul ’25₹166.88
₹176.70
+5.88%
10.86%₹222.00₹145.00₹168.6720
Jun ’25₹154.00
₹174.95
+13.61%
9.45%₹212.00₹145.00₹167.5921
May ’25₹166.35
₹185.60
+11.57%
12.57%₹225.00₹125.00₹178.6520
Apr ’25₹155.30
₹185.42
+19.40%
13.44%₹227.00₹120.00₹149.8119
Mar ’25₹154.40
₹185.44
+20.11%
13.76%₹227.00₹120.00₹165.0218
Feb ’25₹177.85
₹208.39
+17.17%
9.85%₹245.00₹160.00₹181.8618
Jan ’25₹191.75
₹207.11
+8.01%
9.01%₹230.00₹165.00₹183.1318
Dec ’24₹175.10
₹204.67
+16.89%
9.91%₹230.00₹165.00₹165.2318
Nov ’24₹184.05
₹209.41
+13.78%
12.26%₹252.00₹158.00₹170.9717
₹177.4
Fair Value
16.6% undervalued intrinsic discount
25
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/07 16:03
End of Day Share Price 2025/11/07 00:00
Earnings2025/09/30
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Devyani International Limited is covered by 37 analysts. 25 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Videesha ShethAmbit Capital
Ashwin MehtaAmbit Capital
null nullAntique Stockbroking Ltd.