Restaurant Brands Asia Limited reported consolidated revenue from operations of ₹8,226 million for Q1FY27, a 17.9% year-on-year increase, driven by a robust 12.6% same-store sales growth (SSSG) in India—the highest in 15 quarters. The Mumbai-based operator also confirmed that Inspira Global has completed the acquisition of a controlling 42% stake, infusing ₹1,050 crore into the business to support future expansion and brand-building initiatives.

The Board of Directors approved the unaudited financial results on August 03, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Statutory auditors B S R & Co. LLP issued a limited review report on the statements. The company's store network expanded to 752 restaurants, adding nine new outlets in India since March 31, 2026.

Financial Performance Highlights

Consolidated revenue rose to ₹8,226 million from ₹6,977 million in Q1FY26. While the company reported a consolidated net loss of ₹330 million, down from ₹454 million in the prior year, operational profitability improved significantly. Company EBITDA (Pre-Ind AS 116) surged 265.7% to ₹435 million from ₹119 million. In standalone terms, revenue grew 23.6% to ₹6,829 million, with standalone net loss narrowing sharply to ₹32 million from ₹116 million in the prior year. Standalone EBITDA rose to ₹975 million from ₹681 million, with EBITDA margin expanding to 14.28% from 12.34%.

Operational Efficiency and Margins

Standalone Restaurant EBITDA margin (Pre-Ind AS 116) expanded to 13.2% from 9.7% in the prior year, reflecting improved cost management and higher throughput. Company EBITDA (Pre-Ind AS 116) margin increased to 7.7% from 4.1%. The Indian segment contributed ₹6,829 million to standalone revenue, while the Indonesia segment reported revenue of ₹1,397 million. Whole-time Director and Group CEO Rajeev Varman attributed the performance to disciplined execution, menu innovation, and digital capabilities.

Promoter Change and Capital Infusion

Inspira Global, owner of brands including Chinese Wok, acquired a 42% controlling stake through a preferential issue and open offer completed in July 2026. The transaction involved an infusion of ₹1,050 crore via fresh equity shares and warrants. Upon exercise of these warrants, Inspira Global will inject an additional ₹450 crore, raising its shareholding to 48%. Previous promoters QSR Asia Pte Ltd and F&B Asia Ventures were reclassified to the public category. This change in control aims to leverage Inspira's industry expertise to accelerate growth and improve operational efficiency.

What the Numbers Show

The sharp narrowing of the standalone net loss to ₹32 million from ₹116 million, alongside a 265.7% jump in Company EBITDA (Pre-Ind AS 116), signals robust underlying operational health. The standalone EBITDA margin expansion to 14.28% from 12.34% further underscores improving unit economics. The new promoter's significant capital commitment provides financial flexibility for store expansion and digital upgrades, potentially accelerating the path to sustained profitability.

Restaurant Brands Asia Limited has filed its Business Responsibility and Sustainability Report (BRSR) for the financial year April 1, 2025 to March 31, 2026, pursuant to Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report is prepared on a standalone basis and covers the company's operations across India, with subsidiary companies located in Indonesia. The BRSR is also available on the company's website at www.burgerking.in .

Company Overview and Operations

Restaurant Brands Asia Limited, formerly known as Burger King India Limited (CIN: L55204MH2013FLC249986), is a fast-growing Quick Service Restaurant (QSR) chain in India with its registered office at 2nd Floor, ABR Emerald, Plot No. D-8, Street No. 16, MIDC, Andheri (East), Mumbai – 400 093. The company's paid-up capital stood at ₹5,82,87,62,870/- as at March 31, 2026. The company reported a turnover of ₹22,717.23 Million and a net worth of ₹21,093.31 Million for the reporting period.

As at March 31, 2026, the company operated across the following locations:

Food and beverage service activities (NIC Division 56) accounted for 98.95% of total turnover, with all inputs sourced directly from within India (100%) and 2% directly from MSMEs/small producers in both FY 2025-26 and FY 2024-25.

Workforce and Employee Well-being

The company's total workforce as at the end of FY 2025-26 comprised 12,372 employees. Women represented approximately 37% of the total workforce. The company employed 83 differently-abled team members under its Taare Humare initiative, which provides employment opportunities to individuals with speech and hearing impairments.

Employee turnover rates for permanent employees over the past three financial years are as follows:

All 10,620 permanent employees were covered under health insurance and accident insurance (100%). The cost incurred on well-being measures as a percentage of total revenue was 0.23% in FY 2025-26, compared to 0.26% in FY 2024-25. Gross wages paid to females as a percentage of total wages stood at 28.88% in FY 2025-26, up from 26.40% in FY 2024-25.

Environmental Performance

The company's energy consumption was entirely from non-renewable sources during FY 2025-26. Key environmental metrics are summarised below:

All water withdrawal was sourced from third parties. The company has invested ₹33 crore towards energy efficiency initiatives, contributing to improved energy efficiency and a reduction in greenhouse gas emissions. Solar systems have been implemented at eight stores under the company's sustainability initiative.

Waste Management

Plastic waste is recycled through the Extended Producer Responsibility (EPR) programme; the company has successfully completed its EPR target for FY 2025-26. Sustainable sourcing by the company stood at approximately 18.16%, which includes RSPO-certified palm oil used directly or indirectly in India.

Governance, Ethics, and Stakeholder Engagement

The company's BRSR policies cover all nine NGRBC Principles and have been approved by the Board. No monetary or non-monetary penalties, fines, or punishments were recorded during FY 2025-26. No disciplinary actions were taken against any Directors, KMPs, or employees for bribery or corruption charges in either FY 2025-26 or FY 2024-25.

The company received 2,64,666 customer complaints in FY 2025-26 (compared to 1,16,249 in FY 2024-25), the majority pertaining to ordering inaccuracies and food product experience, all of which were addressed and resolved with nil pending at year-end. A total of 11 POSH complaints were filed during FY 2025-26 (15 in FY 2024-25), of which 7 were upheld (10 in FY 2024-25). The company facilitated the collection of ₹23.34 lakhs from customers, which was donated in its entirety to the Army Central Welfare Fund.

Material ESG Issues

The company has identified 14 material responsible business conduct issues. Key risks and opportunities include:

• Risks: Food Safety, Cyber Security, Climate Change, Supply Chain sustainability, Employee Well-being, Regulatory Compliance, Social Media, and Utility Supply (LPG and PNG)
• Opportunities: Waste Management, Diversity & Inclusion, Employee Health & Safety, Human Capital Development, Governance, and Renewable Power

Mr. Rajeev Varman (DIN: 03576356), Whole-time Director and Group Chief Executive Officer, is the highest authority responsible for implementation and oversight of the Business Responsibility policies and decisions on all sustainability-related issues. The company is affiliated with two national trade and industry associations: the Retail Association of India and the National Restaurant Association of India (NRAI).