United Foodbrands Ltd(UFBL)

NSE: UFBLBSE: 543283

₹ 600.2-0.46%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 2,348 crWebsite: www.barbequenation.comUpdated: 24 Oct 2026

About

United Foodbrands Ltd runs Barbeque Nation, a casual dining restaurant chain, in India and abroad. It reports three segments: BBQ India (dine-in buffet), BN International and Premium CDR. The company reported consolidated revenue of INR 1,338.7 crores in FY26 and had 266 restaurants as of Q1 FY27. It describes itself as one of India's foremost casual dining restaurant chains and says it pioneered the 'over the table barbeque' live grill concept.^[1][2]

Restaurant network

The network had 266 restaurants as of Q1 FY27, up from 262 at the end of FY26 and 249 at the end of Q3 FY26.^[3]
FY26 saw 35 gross and 32 net restaurant additions. That is more than the prior two years combined, which saw only 14 net additions.^[4]
15 restaurants were under construction as of Q1 FY27 and were expected to open in Q2/Q3 FY27.^[3]
Network mix as of Q2 FY26: 195 BN India, 12 International and 34 Premium CDR restaurants.^[5]
The restaurant count grew from 45 stores in FY15 to 230 in FY25. As of March 31, 2025, those 230 restaurants covered 80+ cities in India.^[2]

Brands and formats

Delivery brands as of Q1 FY27: Barbeque Nation (starters and tikkas), BBQ (meals and bowls) and Dum Safar (biryani).^[3]
The premium casual dining brands, Toscano and Salt, grew revenue about 30% year on year in FY25, helped by new stores in Hyderabad, Delhi and Mumbai.^[2]
In FY25 the company bought a majority stake in Willow Gourmet, which runs the 'Omm Nom Nomm' ice cream brand.^[2]

Same-store sales and volumes

Consolidated SSSG was 28.7% in Q1 FY27, up from 14.4% in Q4 FY26 and +8.2% in Q3 FY26. All of the growth came from volume, with no price increases taken.^[3]
SSSG by segment in Q1 FY27: BBQ India +33.5%, BN International +8.5%, Premium CDR +13.6%.^[3]
Consolidated dine-in transaction volumes grew 63.5% year on year in Q1 FY27, compared with +43.4% in Q4 FY26 and +25% in Q3 FY26.^[3]
Full-year consolidated SSSG was +4.7% in FY26, 850 bps higher than in FY25.^[4]

Restaurant-level margins and costs

Consolidated restaurant operating margin (pre-Ind AS) was 14.6% in Q1 FY27, up from 11.5% in Q1 FY26.^[3]
Mature-portfolio restaurant operating margin (pre-Ind AS) was 16.2% in Q1 FY27, up from 13.3% in Q1 FY26.^[3]
Consolidated gross margin was 65.8% in Q1 FY27, down from 67.7% in Q1 FY26. By segment it was 64.1% for BBQ India and 69.6% for BN International.^[3]
Corporate back-end cost fell from 7.1% of revenue in Q4 FY26 to 6.5% in Q1 FY27.^[3]
Advertising and promotion spend was about 3% of revenue in Q4 FY26, up about 110 bps year on year. Most of it is digital (Meta, Google).^[4]
Premium CDR mature-portfolio restaurant operating margin (pre-Ind AS) was 18.4% in Q4 FY26 and 20.1% for full-year FY26.^[4]

Digital channels and delivery

Delivery revenue grew 61.9% year on year in Q1 FY27 and made up 16.8% of consolidated revenue.^[3]
The company's own digital channels brought in 65.1% of BBQ India dine-in transactions in Q1 FY27, up from 60.9% in Q4 FY26. Its own channels including walk-ins account for about 90% of dine-in.^[3]
Monthly active users on the company's own digital platforms were about 1.4 million in Q1 FY27.^[3]

International

BN International revenue grew 46.6% year on year in Q1 FY27. Its restaurant operating margin (pre-Ind AS) was 18.7%, compared with 24.4% in Q4 FY26, because of food inflation in the Middle East.^[3]
The segment added 4 restaurants in FY26, its most in a single year. Its first restaurant in Riyadh, Saudi Arabia opened in Q2 FY26.^[4]
As of FY25 the international outlets were in the UAE, Oman, Malaysia, Bahrain and Sri Lanka.^[2]
Middle East expansion is paused with no new signings, and the segment's focus has moved to Southeast Asia.^[4]

Expansion and capex

FY27 capex is planned at about ₹140 crores. About ₹120 crores is for new outlets (about 30 BBQ India, 5 International and 5 Premium CDR) and about ₹20 crores is for maintenance.^[3]
Targets: 300+ restaurants by the end of FY27 (40 net additions) and 400 - 425 restaurants by FY30.^[3]
Management's estimate of long-run BBQ India store potential was raised from about 400 - 450 to about 600 restaurants.^[3]
Premium CDR grew from 30 to 42 restaurants in FY26.^[4]
No new acquisitions or new brand categories are planned in FY27.^[4]

Recent developments

On October 13, 2026, the subsidiary Barbeque Nation MENA Holding incorporated UFBL UK Limited in the UK as a wholly owned step-down subsidiary, with share capital of GBP 50,000.^[6]

Market Cap

₹2,348 Cr

High / Low

₹853 / 171

Stock P/E

-62.5

Price / Book

8.0

Book Value

₹79

EPS

₹-15.2

No. of Shares

3.91 Cr

ROCE

1.6%

ROE

-17.6%

OPM

1.3%

Debt / Equity

0.43

Sales

₹1,339 Cr

Net Profit

₹-62 Cr

Promoter holding

34.6%

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