External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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>With our estimated top-line of Rs23bn (~15% CAGR over FY16-23E) and 13.4% EBITDA margin in FY23E (vs. 6% in FY16), WLDL has delivered towards the mid-point of its 2022 vision statement, which was presented in 2016.</li><li>While growth in Rev/Store at 8.5% CAGR has been better than its expectations of 6-7%, annual store additions have been lower at 18 stores vs. targeted addition of ~30 stores.</li><li>Going ahead (FY23-28), WLDL expects annual addition of 45-55 stores (10-12% CAGR), which suggests a significant pick-up vs. the past trends.</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.

With our estimated top-line of Rs23bn (~15% CAGR over FY16-23E) and 13.4% EBITDA margin in FY23E (vs. 6% in FY16), WLDL has delivered towards the mid-point of its 2022 vision statement, which was presented in 2016.While growth in Rev/Store at 8.5% CAGR has been better than its expectations of 6-7%, annual store additions have been lower at 18 stores vs. targeted addition of ~30 stores.Going ahead (FY23-28), WLDL expects annual addition of 45-55 stores (10-12% CAGR), which suggests a significant pick-up vs. the past trends.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 - Guidance Appears Conservative

<ul><li>With our estimated top-line of Rs23bn (~15% CAGR over FY16-23E) and 13.4% EBITDA margin in FY23E (vs. 6% in FY16), WLDL has delivered towards the mid-point of its 2022 vision statement, which was presented in 2016.</li><li>While growth in Rev/Store at 8.5% CAGR has been better than its expectations of 6-7%, annual store additions have been lower at 18 stores vs. targeted addition of ~30 stores.</li><li>Going ahead (FY23-28), WLDL expects annual addition of 45-55 stores (10-12% CAGR), which suggests a significant pick-up vs. the past trends. I</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.

With our estimated top-line of Rs23bn (~15% CAGR over FY16-23E) and 13.4% EBITDA margin in FY23E (vs. 6% in FY16), WLDL has delivered towards the mid-point of its 2022 vision statement, which was presented in 2016.While growth in Rev/Store at 8.5% CAGR has been better than its expectations of 6-7%, annual store additions have been lower at 18 stores vs. targeted addition of ~30 stores.Going ahead (FY23-28), WLDL expects annual addition of 45-55 stores (10-12% CAGR), which suggests a significant pick-up vs. the past trends. IContent 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 - Guidance Appears Conservative; Maintain Buy on Strong Execution

External broker reports(aggregated public sources), Axis Direct

Axis Direct

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.

<ul><li>Westlife Foodworld Ltd (erstwhile Westlife Development Ltd) delivered a resilient performance in Q12FY23.</li><li>Reported sales grew by 48% YoY (13% on a 3-Year CAGR) to Rs 572 Cr.</li><li>The company’s SSSG was up 40% YoY driven by strong growth in dine-in, up 24% over the pre- Covid base (Q2FY20) and Convenience channels, which was up 55% YoY. </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 Ltd (erstwhile Westlife Development Ltd) delivered a resilient performance in Q12FY23.Reported sales grew by 48% YoY (13% on a 3-Year CAGR) to Rs 572 Cr.The company’s SSSG was up 40% YoY driven by strong growth in dine-in, up 24% over the pre- Covid base (Q2FY20) and Convenience channels, which was up 55% YoY. 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 - Resilient Performance Amidst Challenging Environment

Thematic (Sector/Industry)

<ul><li>Axis Diwali Muhurat Picks: SAMVAT 2079: We are glad to share our report – Axis Diwali Muhurat Picks: SAMVAT 2079 with you.</li><li>The report contains carefully selected and deeply researched stocks that are well-positioned to benefit from the robust festive demand and India’s favourable macroeconomic developments.</li><li>During the month, we published the Consolidated Preview for Q2FY23. You may refer to the full report here.</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.

Axis Diwali Muhurat Picks: SAMVAT 2079: We are glad to share our report – Axis Diwali Muhurat Picks: SAMVAT 2079 with you.The report contains carefully selected and deeply researched stocks that are well-positioned to benefit from the robust festive demand and India’s favourable macroeconomic developments.During the month, we published the Consolidated Preview for Q2FY23. You may refer to the full report here.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.

<ul><li>Samvat 2078 was a year of peaks and troughs with a roller-coaster ride in the equity market across the world.</li><li>Since the last Diwali, the market has witnessed significant volatility led by liquidity reversal, policy tightening, the Russia-Ukraine geopolitical crisis, and rising inflation.</li><li>While these developments inflicted notable changes in the market regimes, especially with higher commodity prices of base metals and crude oil over the first half of the Samvat, a trend reversal was seen in the second half of the Samvat with the majority of commodity prices cooling off primarily due to the policy tightening and the expectation of a slowdown in global 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.

Samvat 2078 was a year of peaks and troughs with a roller-coaster ride in the equity market across the world.Since the last Diwali, the market has witnessed significant volatility led by liquidity reversal, policy tightening, the Russia-Ukraine geopolitical crisis, and rising inflation.While these developments inflicted notable changes in the market regimes, especially with higher commodity prices of base metals and crude oil over the first half of the Samvat, a trend reversal was seen in the second half of the Samvat with the majority of commodity prices cooling off primarily due to the policy tightening and the expectation of a slowdown in global 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.

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.

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Westlife Development (WLDL IN)

Westlife Foodworld - Guidance Appears Conservative

Going ahead (FY23-28), WLDL expects annual addition of 45-55 stores (10-12% CAGR), which suggests a significant pick-up vs. the past trends.

Emkay

Westlife Foodworld - Guidance Appears Conservative; Maintain Buy on Strong Execution

With our estimated top-line of Rs23bn (~15% CAGR over FY16-23E) and 13.4% EBITDA margin in FY23E (vs. 6% in FY16), WLDL has delivered towards the...

Emkay

Westlife Foodworld Ltd - Resilient Performance Amidst Challenging Environment

Westlife Foodworld Ltd (erstwhile Westlife Development Ltd) delivered a resilient performance in Q12FY23. Reported sales grew by 48% YoY (13% on a...

Axis Direct

Axis Research Scorecard Report - Oct 22

The report contains carefully selected and deeply researched stocks that are well-positioned to benefit from the robust festive demand and India’s...

Axis Direct

Axis Diwali Muhurat Picks: SAMVAT 2079

Since the last Diwali, the market has witnessed significant volatility led by liquidity reversal, policy tightening, the Russia-Ukraine...

Axis Direct

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