Burma Burma, a vegetarian pan-Asian restaurant chain, came close to breaking even in FY25. In the fiscal year ended March 2026, the company recorded a 47% year-on-year increase in operating revenue to cross the Rs 150 crore mark, while EBITDA grew 35% to Rs 29 crore. However, depreciation and amortisation expenses nearly doubled during the year, weighing on the bottom line. Burma Burma’s revenue from operations rose to Rs 155.6 crore in FY26 from Rs 106 crore in FY25, according to its financial statements filed with the Registrar of Companies (RoC). The company operates a chain of restaurants serving Burmese cuisine with Indian, Chinese, and Thai influences across more than a dozen outlets in Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Ahmedabad, and Chandigarh. Bengaluru remained the company's largest market in FY26, contributing over 32% of total revenue, or nearly Rs 50 crore. Mumbai followed with Rs 38.4 crore, while Delhi and Gurugram contributed around Rs 15 crore each. The remaining revenue came from Hyderabad, Noida, Kolkata, Ahmedabad, and Chandigarh. Dine-in remained the company's largest revenue source in FY26, which contributed 82% of operating revenue at Rs 128 crore. Online sales through food delivery platforms contributed Rs 15.9 crore. Employee benefits and material costs together accounted for over 44% of the restaurant chain's total expenses in FY26. Employee benefit expenses rose 44% year-on-year to Rs 48.5 crore, while material costs increased 50% to Rs 30 crore. Depreciation and amortisation expenses nearly doubled to Rs 40.8 crore during the fiscal year. Restaurant rent expenses climbed 43% to Rs 8.3 crore, while advertising expenses doubled to Rs 5.6 crore. Higher spending on power and fuel, utilities, transportation, and other overheads pushed the company's total expenses up nearly 60% year-on-year to Rs 175.4 crore in FY26 from Rs 110 crore in FY25. Despite strong revenue growth, Burma Burma's expenses rose at a faster pace, led by a sharp increase in depreciation and amortisation costs, which nearly doubled during the year. As a result, the company's losses widened nearly sixfold to Rs 14.5 crore in FY26 from Rs 2.5 crore in FY25. However, the company's EBITDA rose 35% year-on-year to Rs 29 crore. Its EBITDA margin stood at 18.65%, while ROCE came in at -10.1%. On a unit basis, Burma Burma spent Rs 1.13 to earn every rupee of operating revenue in FY26. As of March 2026, the restaurant chain reported Rs 18 crore in cash and bank balances and total current assets of Rs 24.6 crore. Burma Burma has raised a total of $11 million in funding, including a$4 million (Rs 38 crore)round that valued the company at Rs 500 crore in March this year. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in
