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Prabhudas Lilladher Report
Burger King India Ltd.'s story remains on track with 95% average daily sales recovery in Q2 FY21 and 101% average daily sales recovery in October 2021.
Delivery average daily sales sustained at 162% despite comeback of dine-in is positive. Soft launch of BK Cafe will help increase occasions thereby improving demand during non-peak hours.
Innovative marketing initiatives during cricket IPL/T20 on BK app resulted in 50% growth in installed base and 60% in App sales QoQ.
Further, Burger King's foray into own delivery has picked up steam with the company acquiring 100 E-scooters.
We believe Burger King chains as a whole are well placed for strong growth given-
closure of ~25-30% eateries due to pandemic,
increased consumer focus towards health and hygiene measures and
low penetration.
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