Burma Burma revenue grows 47% to Rs 156 Cr in FY26 as losses widen sixfold to Rs 14.5 Cr

Vegetarian pan-Asian chain Burma Burma scaled FY26 revenue 47% to Rs 155.6 Cr across 12+ outlets, but losses ballooned to Rs 14.5 Cr as depreciation nearly doubled to Rs 40.8 Cr. EBITDA held at Rs 29 Cr (18.65% margin). Bengaluru drove 32% of sales; dine-in contributed 82%.

— Source publishedThu, 2 Jul, 2026, 10:26 IST·First seen Thu, 2 Jul, 2026, 10:26 IST·Source Entrackr · Newsletter

What happened

Vegetarian pan-Asian chain Burma Burma grew FY26 revenue 47% to Rs 156 Cr across 12+ outlets, but losses widened sixfold to Rs 14.5 Cr as depreciation nearly

Key facts

  • Rs 155.6 Cr revenue FY26
  • 47% YoY revenue growth
  • Rs 14.5 Cr loss
  • Rs 29 Cr EBITDA
  • 18.65% EBITDA margin
  • Rs 40.8 Cr D&A
  • $11M total funding
  • Rs 500 Cr valuation

Why this matters

A vegetarian pan-Asian brand scaling revenue 47% with sticky 18%+ EBITDA margins is an attractive acquisition or growth-capital target, with the widening bottom line offering room to negotiate on valuation.

What to watch

  • FY27 outlet count and pace of new openings
  • Same-store sales growth vs new-store contribution
  • Depreciation trajectory and net-loss trend
  • Any external funding round or debt raise
  • Shift in dine-in vs delivery revenue mix
  • Geographic revenue concentration outside Bengaluru
  • Expand delivery/cloud-kitchen footprint to lift the low 18% off-premise contribution
  • Concentrate new outlets in proven metros beyond Bengaluru to diversify the 32% single-city dependence
  • Rationalize pre-opening and fit-out costs to slow depreciation drag
  • Explore menu premiumization and private-dining formats to protect the 18.65% EBITDA margin

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