BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Burger King India Ltd. reported a decent quarter in terms of revenue (down 24% QoQ) and gross margin print (up 65%).
Burger King's focus continues on strengthening-
delivery platform (including own app),
offering (Stunner menu) and
store expansion.
Consumer response (to innovation in Whopper range) appears good with one in every three orders having a Whopper.
We see multiple short-to-medium-term tailwinds:
likely sharper revenue recovery (once consumption normalise) given the over indexation of mall stores,
young store maturity provides operating leverage and
addition of BK Cafe as incremental growth.
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