External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Westlife Foodworld’s print was lower than our estimates. Revenue grew 7% YoY, while SSSG stood at 1%, which grew on a high base of 40% SSSG growth.</li><li>The management alluded that despite weak SSSG, the company managed to increase its market share in the West and South regions.</li><li>It further expects demand recovery in Q3FY24, which will be led by the festive season. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Westlife Foodworld’s print was lower than our estimates. Revenue grew 7% YoY, while SSSG stood at 1%, which grew on a high base of 40% SSSG growth.The management alluded that despite weak SSSG, the company managed to increase its market share in the West and South regions.It further expects demand recovery in Q3FY24, which will be led by the festive season. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Westlife Foodworld Ltd - Temporary Blip in Performance; Maintain BUY

<ul><li>Westlife Foodworld’s print was marginally lower than our estimates.</li><li>Revenue grew ~14% YoY, while SSSG stood strong at 7%, which was led by increased footfalls, improved product mix, and introduction of McSaver value meal.</li><li>Average Revenue/Store stood at Rs 6.69 Cr (flat YoY). Moreover, menu innovations such as Piri Piri McSpicy (limited time period) and Jain-friendly menu (west markets) saw great traction from the consumers. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Westlife Foodworld’s print was marginally lower than our estimates.Revenue grew ~14% YoY, while SSSG stood strong at 7%, which was led by increased footfalls, improved product mix, and introduction of McSaver value meal.Average Revenue/Store stood at Rs 6.69 Cr (flat YoY). Moreover, menu innovations such as Piri Piri McSpicy (limited time period) and Jain-friendly menu (west markets) saw great traction from the consumers. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Westlife Foodworld Ltd - Marginal Miss on Estimates; Maintain BUY

<ul><li>Revenue grew ~22% YoY (18% on a 3-Year CAGR) while SSSG stood at 14% led by increased footfalls, improved product mix and price hikes.</li><li>Average Revenue per store stood at Rs 6.62 Cr (up 33% YoY), led by strong traction in meals, chicken, and McCafe.</li><li>Moreover, menu innovation (Chicken Big Mac) and judicious price increases (cumulative price hikes of 7%) have further led the overall AUV growth.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Revenue grew ~22% YoY (18% on a 3-Year CAGR) while SSSG stood at 14% led by increased footfalls, improved product mix and price hikes.Average Revenue per store stood at Rs 6.62 Cr (up 33% YoY), led by strong traction in meals, chicken, and McCafe.Moreover, menu innovation (Chicken Big Mac) and judicious price increases (cumulative price hikes of 7%) have further led the overall AUV growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Westlife Foodworld Ltd - Robust Performance; Maintain BUY

Forensics and Corporate Governance Analyst, Beat the Street

Nimish Maheshwari

Forensics and Corporate Governance Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Promoter buying reflects insider confidence in the company's future, often driven by access to undisclosed positive developments and growth opportunities.</li>
<li>Increased promoter stake may indicate that the market has undervalued the company, potentially presenting an opportunity for investors to buy at a discount.</li>
<li>Consider the broader market environment, company fundamentals, and industry trends alongside promoter buying activity to form a comprehensive investment thesis.</li>
</ul>


Promoter buying reflects insider confidence in the company's future, often driven by access to undisclosed positive developments and growth opportunities.
Increased promoter stake may indicate that the market has undervalued the company, potentially presenting an opportunity for investors to buy at a discount.
Consider the broader market environment, company fundamentals, and industry trends alongside promoter buying activity to form a comprehensive investment thesis.


Contrarian Moves: Promoter Buying During Indian Equity Downturns

<ul><li>Consumer demand remain tepid: Discretionary demand, particularly in the value segment, continues to be subdued, especially in smaller towns (Tier 2/3/4), which are facing significant pressure.</li><li>Premium vs. Value: While the premium segment continues to exhibit strength, the value segment, particularly in apparel, remains under pressure.</li><li>However, Relaxo, within our coverage, has displayed sustained signs of recovery in rural areas.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumer demand remain tepid: Discretionary demand, particularly in the value segment, continues to be subdued, especially in smaller towns (Tier 2/3/4), which are facing significant pressure.Premium vs. Value: While the premium segment continues to exhibit strength, the value segment, particularly in apparel, remains under pressure.However, Relaxo, within our coverage, has displayed sustained signs of recovery in rural areas.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Westlife Development Limited is an operating-cum-investment company that puts up and operates quick service restaurants. The Company, through its subsidiary, operates fast food franchise restaurants across western and southern India.

Westlife Development (WLDL IN)

Westlife Foodworld Ltd - Temporary Blip in Performance; Maintain BUY

Westlife Foodworld’s print was lower than our estimates. Revenue grew 7% YoY, while SSSG stood at 1%, which grew on a high base of 40% SSSG growth.

Axis Direct

Westlife Foodworld Ltd - Marginal Miss on Estimates; Maintain BUY

Revenue grew ~14% YoY, while SSSG stood strong at 7%, which was led by increased footfalls, improved product mix, and introduction of McSaver value...

Axis Direct

Westlife Foodworld Ltd - Robust Performance; Maintain BUY

Revenue grew ~22% YoY (18% on a 3-Year CAGR) while SSSG stood at 14% led by increased footfalls, improved product mix and price hikes.

Axis Direct

Contrarian Moves: Promoter Buying During Indian Equity Downturns

There are 100 reasons to sell in the market, but only one reason to buy!! Taking a deep understanding of Promoter Buying in the Indian Landscape in...

Nimish Maheshwari

Top Sector Ideas - Retail Q3FY24

Discretionary demand, particularly in the value segment, continues to be subdued, especially in smaller towns (Tier 2/3/4), which are facing...

Axis Direct