Burger King India Q4 Review - Margin Guidance Increased: Dolat Capital

An illuminated namesign and logo of Burger King sits outside the restaurant. (Source: BloombergQuint).

Burger King India Q4 Review - Margin Guidance Increased: Dolat Capital

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Dolat Capital Report

Burger King India Ltd. posted 2.6% revenue growth with same store sales growth declining 4.9% in Q4 FY21.

The performance was lower than the peers Westlife Development Ltd./Barbeque-Nation Hospitality Ltd. which reported 10.5%/up 19.9% SSSG growth during the quarter.

Decline in SSSG can be attributed to:

  • farmer protests in northern India (60% contribution) and

  • unfavourable base.

The company has achieved gross margin target of 65.5% during the quarter and targets to achieve 66/68% gross margin in FY22/24E.

The company has plans to increase BK Cafe reach to 75 stores by the end of FY23E.

Click on the attachment to read the full report:

Dolat Capital Burger King India Q4FY21 Result Update.pdf

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