Restaurant Brand Asia (Burger King) Limited (RBA) has reported no material deviation in the utilization of proceeds from its Qualified Institutions Placement (QIP) for the second quarter of fiscal year 2026, according to the monitoring agency report submitted to the stock exchanges.

QIP Proceeds and Utilization

ICRA Limited, the appointed monitoring agency, confirmed that the company's use of funds aligns with the stated objectives of the INR 500 crore QIP issue conducted in March 2025. The key details of the fund utilization are as follows:

The net proceeds were INR 1.09 crore higher than initially estimated due to lower issue-related expenses.

Deployment of Unutilized Proceeds

As of September 30, 2025, RBA has deployed the unutilized proceeds of INR 284.97 crore in various financial instruments:

Implementation Timeline

The company has reported that all implementation timelines remain on schedule, with completion targeted for the fiscal year 2026-2027.

Financial Performance

In addition to the QIP fund utilization report, RBA also released its financial results for Q2 FY2026:

• Revenue from operations (standalone) increased by 15.6% year-on-year to INR 5,687 million.
• Gross margin improved to 68.3%, up by 80 basis points from the same quarter last year.
• Standalone EBITDA grew by 16.3% year-on-year to INR 813 million.
• The company added 14 new Burger King stores during the quarter, bringing the total restaurant count to 533.

Management Commentary

Rajeev Varman, Whole-time Director and Group CEO of RBA, commented on the performance: "Our same-store sales for Burger King in India was up by 2.8% this quarter along with a healthy increase in gross margins. We witnessed a positive traffic growth in both the dine-in and delivery channels. This is an outcome of our relentless focus on exceeding guest expectations through compelling value offerings, menu innovations and technology investments."

Varman also noted that the recent GST reforms introduced by the government, coupled with a benign inflation outlook, are expected to boost consumer sentiment.

The company remains confident in its growth trajectory for the second half of the fiscal year, supported by its strategic initiatives and positive market conditions.

Restaurant Brands Asia continues to focus on expanding its restaurant network, enhancing its menu offerings, and leveraging technology to improve customer experience, positioning itself for sustained growth in the competitive quick-service restaurant sector.

Restaurant Brand Asia (Burger King) , formerly known as Burger King India Limited, has released its financial results for the second quarter of fiscal year 2026, ending September 30, 2025. The company reported growth in revenue and same-store sales, driven by store expansion and operational improvements.

Financial Highlights

• Revenue from operations increased by 15.6% year-over-year to ₹5,687.00 million.
• Gross margin improved to 68.3%, up 80 basis points from the same quarter last year.
• Standalone EBITDA grew by 16.3% to ₹813.00 million.

Operational Performance

• Same-store sales growth (SSSG) was 2.8% for the quarter.
• The company added 14 new stores during the quarter, bringing the total restaurant count to 533.

Key Developments

• Restaurant Brands Asia continued its focus on value offerings, menu innovations, and technology investments.
• The company reported positive traffic growth in both dine-in and delivery channels.

Management Commentary

Rajeev Varman, Whole-time Director and Group Chief Executive Officer of Restaurant Brands Asia, stated, "Our same-store sales for Burger King in India was up by 2.8% this quarter along with a healthy increase in gross margins. We witnessed a positive traffic growth in both the dine-in and delivery channels. This is an outcome of our relentless focus on exceeding guest expectations through compelling value offerings, menu innovations and technology investments."

Future Outlook

The company remains optimistic about its growth prospects, citing the recent GST reforms introduced by the government and a benign inflation outlook as factors that could boost consumer sentiment. Management expressed confidence about growth prospects for the second half of the year.

Supply Chain Efficiencies

The company attributed its margin expansion to supply chain efficiencies, which contributed to the improved financial performance.

Restaurant Brands Asia continues to execute its strategy of expanding its restaurant network while focusing on profitability and customer engagement through digital initiatives and menu innovations.