Devyani International IPO - Execution Key For Long-Term, Listing Gains Likely: Prabhudas Lilladher
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Prabhudas Lilladher's IPO Report
We believe Devyani International Ltd. is on the verge of a new growth phase for the company led by:
KFC’s leadership in chicken segment
strong brand recall and growth prospects of Pizza hut with just 297 stores (1300 plus by Dominos)
acquisition of 73 KFC stores of Yum over past three years
Devyani International's aggressive expansion with addition of 90 stores in the last six months and likely hood of sustaining trend
move towards smaller delivery formats for KFC and Pizza Hut to achieve faster growth and higher margins and lower payback periods per store
Innovations in menus straddling across various price points, cuisines and consumer preference suited to the Indian palate
scale down in concession based stores in airports and 61 loss making stores thus reducing drag on profitability.
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