Restaurant Brands Asia Q1 Review - Should Deliver Better Operating Margin Performance Going Ahead: Nirmal Bang

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.Restaurant Brands Asia Ltd.’s (formerly Burger King India) Q1 FY23 standalone revenue grew ahead of our expectation at 125% YoY even while same store sales growth of 66% YoY was in line with our expectation. For the India business, average daily sales has now improved to ~Rs 120,000 in Q1 FY23, higher than Rs 114,000 reported in Q3 FY22 with July 2022 ADS looking even better at ~Rs 131,000. Restaurant Brands Asia's gross margin expanded to 66.4% (up 120 basis points YoY/up 30 bps QoQ). Restaurant Ebitda margin came in at 14.8% in Q1 FY23; 6.1% on a pre-IND AS 116 basis. There was a ~220 bps impact on Ebitda margin due to incremental marketing spends done in Q1 FY23 (over normal levels), which will normalise over the full year. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Restaurant Brands Asia Q1 Review - Should Deliver Better Operating Margin Performance Going Ahead: Nirmal Bang

Restaurant Brands Asia Q1 Review - Should Deliver Better Operating Margin Performance Going Ahead: Nirmal Bang

Choose a plan