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

Emkay

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

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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

Devyani International  / Equity Bottom-Up

<ul><li>DIL’s Q2 EBITDA was ~13% below our estimate, on margin miss in KFC and higher HO costs.</li><li>India growth was modest at ~6% in Q2, mainly led by store adds, as KFC/PH India SSG fell 6-7% on weak demand and negative sentiment in a few regions (geo-politics).</li><li>While DIL is seeing greenshoots in some large markets, overall trend is subdued; but DIL sees this as a blip and continues with network expansion, menu innovation, and portfolio enhancement.</li></ul><p><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></p>

DIL’s Q2 EBITDA was ~13% below our estimate, on margin miss in KFC and higher HO costs.India growth was modest at ~6% in Q2, mainly led by store adds, as KFC/PH India SSG fell 6-7% on weak demand and negative sentiment in a few regions (geo-politics).While DIL is seeing greenshoots in some large markets, overall trend is subdued; but DIL sees this as a blip and continues with network expansion, menu innovation, and portfolio enhancement.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.

Devyani International - Near-Term Weakness Compels Us to Retain REDUCE