Devyani International Share Price Target 2026: Brokerage firms Nuvama, Emkay, Motilal Oswal and Goldman Sachs have largely maintained a bullish stance on quick service restaurant operator Devyani International Ltd's stock following its Q4 FY26 results, citing boost in topline growth, operational profitability and better margin performance.

At 9:29 AM on Monday, shares of Devyani International, the operator of KFC and Pizza Hut outlets, were trading at Rs 114.70, down 2.92 per cent from the previous close.

Devyani International Ltd Share Price Target 2026

Nuvama on Devyani International

- Maintain Buy with a TP of Rs 156 (earlier 185)
- Green shoots visible; sustainability key
- KFC: Strong SSSG resulting to margin improvement
- Pizza Hut: Focus on operational discipline
- Other brands: Stable show with improvement in new brands
- Cut FY26/27E revenue by 0.6%/1.9% and EBITDA by 9.4%/9.0%

Emkay on Devyani International

- Maintain BUY with a TP of Rs 160 (Upside ~35.6%)
- Topline growth accelerates
- Q4 operating performance ~12% above expectations
- Potential inflation-led demand volatility remains a key monitorable
- Strategic recalibration aids KFC SSG
- KFC to lead store addition in FY27
- Pizza Hut expansion to remain curtailed

Motilal Oswal on Devyani International

- Maintain Buy with a TP of Rs 165 (earlier 155)
- KFC's print improves; operational profitability in line
- Broadly retain our EBITDA estimates for FY27 and FY28
- Estimate an EBITDA gain of ~INR500m in FY28, considering weak QSR industry performance and any delay in the occurrence of synergy benefit

Goldman Sachs on Devyani International

- Maintain Buy
- Target price: Rs142
- KFC SSSG grows 4.9% YoY in Q4FY26
- Value meals launched at Rs99 aiding customer acquisition
- Demand momentum continues into 1QFY27
- Dine-in led recovery supports better margin performance
- KFC store EBITDA rises 20% YoY in Q4
- Merger with Sapphire expected by March 2027
- Company strengthens leadership with COO, CTO and CMO hires
- Goldman Sachs raises target price to Rs 142 from Rs 130

Devyani International Q4

Devyani International Ltd has reported a narrowing of consolidated net loss at Rs 9.84 crore in the fourth quarter ended March 31, 2026.

The company had posted a consolidated net loss of Rs 16.76 crore in the corresponding quarter of previous fiscal, said Devyani International Ltd, which operates brands, including KFC and Pizza Hut, in a regulatory filing.

Consolidated revenue from operations in the fourth quarter was at Rs 1,436.86 crore as against Rs 1,212.59 crore in the same period a year ago, it added.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)