Burger King India Q1 Review - On The Right Track; Good Recovery Play: ICICI Securities
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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),
value offering (Stunner menu) and
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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