Biryani focused QSR chain Biryani Blues recorded a revenue growth of over 11% in FY24, reaching Rs 76.73 crore, compared to Rs 69.14 crore in FY23.
Founded in 2011 in NCR, Biryani Blues aims to bring authentic Hyderabadi flavors to North India through its QSR model. The brand focuses on delivering high-quality, aromatic biryanis, packaged in earthen pots to preserve freshness. With over 68 outlets and 2 million biryanis served annually, Biryani Blues has become a popular name, known for offering value for money and a delightful dining experience.
Co-founders Raymond Andrews and Aparna Andrews lead the brand, which has raised Rs 59.80 crore across 13 funding rounds, with its most recent in December 2021. Shareholders include Rebel Foods (17.08%), Raymond Andrews (19.80%), and Aparna Andrews (13.75%).
Expenses rose marginally by 1.3%, from Rs 83.80 crore in FY23 to Rs 84.87 crore in FY24, with key cost components being employee benefits (17.78% of expenses), material costs (26.8%), and advertisement expenses (6.02%). Depreciation and finance costs accounted for 7.9% and 4.4% of expenses, respectively.
Losses narrowed significantly by over 47%, from Rs 15.42 crore in FY23 to Rs 8.14 crore in FY24, driven by improved operational efficiencies. EBITDA margin improved to 3.03% in FY24, up from -5.24% in FY23, while ROCE improved to -95.33% in FY24 from -147.29% in FY23.