Restaurant Brands Asia (RBA IN) – Q1FY27 Result Update – Double digit SSSG puts India business on strong wicket – Accumulate
Published on 04 Aug 2026
RBA delivered a healthy all-round performance with SSSG of 12.6%, driven by a strong value proposition and healthy in-store traffic. ADS stood at Rs131k, while sales/store grew 3.4%, reflecting continued improvement in store economics. Adj. PAT loss widened to Rs31.7mn (vs Rs3mn in Q4FY26), due to Rs120mn forex MTM loss of investment in Indonesia. Corporate overheads also declined by ~10% on strict cost control. Indonesia business continued to weigh on profitability with EBITDA loss of Rs91mn. While the Burger King brand maintained its recovery trajectory, Popeyes continued to witness muted traction amid intense competition from regional players.
