External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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.

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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

Devyani International  / Equity Bottom-Up

<ul><li>Devyani’s (DIL) 1QFY25 results were below our estimates owing to persistent weakness in core brands (KFC and PH) and lower-than-expected performance of the International business on the back of currency devaluation</li><li>We continue to maintain our REDUCE rating with a TP of INR 150 (25x June-26 Pre IND-AS EV/EBITDA), as current valuations are fully factoring in a back-ended recovery (revenue/EBITDA CAGR of 25/30% over FY24-27).</li><li>1QFY25 results summary: Devyani’s (DIL) 1QFY25 results were below our estimates owing to persistent weakness in core brands (KFC and PH) and lower-than-expected performance of the International business on the back of currency devaluation.</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>

Devyani’s (DIL) 1QFY25 results were below our estimates owing to persistent weakness in core brands (KFC and PH) and lower-than-expected performance of the International business on the back of currency devaluationWe continue to maintain our REDUCE rating with a TP of INR 150 (25x June-26 Pre IND-AS EV/EBITDA), as current valuations are fully factoring in a back-ended recovery (revenue/EBITDA CAGR of 25/30% over FY24-27).1QFY25 results summary: Devyani’s (DIL) 1QFY25 results were below our estimates owing to persistent weakness in core brands (KFC and PH) and lower-than-expected performance of the International business on the back of currency devaluation.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: One More Quarter of Disappointing Performance. Maintain REDUCE