External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>While Jubilant FoodWorks (JUBI)'s sales were broadly in line with our expectations, margins surprised positively. The management believes the QSR business in India is at a significant inflection point. In line with this, the company has not only increased its store expansion guidance (150175 stores from 135 earlier) but also announced investments to boost the supply chain. Moreover, in an interesting new thrust, it has shown intent to gradually become a food tech company.</p><div class="content-highlight"><em>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.</em></div>

While Jubilant FoodWorks (JUBI)'s sales were broadly in line with our expectations, margins surprised positively. The management believes the QSR business in India is at a significant inflection point. In line with this, the company has not only increased its store expansion guidance (150175 stores from 135 earlier) but also announced investments to boost the supply chain. Moreover, in an interesting new thrust, it has shown intent to gradually become a food tech company.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.

COVID improves structural outlook, right-to-win strengthening

Jubilant Foodworks

COVID improves structural outlook, right-to-win strengthening