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Motilal Oswal Report
Westlife Foodworld Ltd. reported an in-line operating performance in Q1 FY24, supported by strong 7% same-store sales growth and 9% store adds.
Ebitda/profit after tax growth of 19%/22% YoY was driven by stable input costs and operating efficiency.
The management anticipates high single-digit SSSG and the addition of 40- 45 new restaurants in FY24.
Easing commodity pressures and Westlife Foodworld's focus on growing average unit volume are the key positive factors, which could be partly offset by an increase in royalty.
We reiterate our 'Neutral' rating on the stock.
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