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.
Nirmal Bang Report
We recently hosted the management of Westlife Development Ltd. for an interaction to get an update on the business and the overall operating environment for the quick service restaurant industry.
The company looks confident of strong recovery in dine-in with no impact on convenience channels’ performance in the near term.
Strong recovery, aggressive store expansion, extension of new categories into other regions and scale-up of McCafe will drive average unit volume improvement in the next few years.
Westlife Development also maintains its pre-Ind Accounting Standard 116 Ebitda margin target of 13-14% (17-18% on post-Ind AS 116 basis).
Strong average unit volume and improving margins should drive robust improvement in return ratios in the medium-term.
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