Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

Restaurant Brands Asia / Equity Bottom-Up

<div><div><div><div><ul><li>4QFY22 standalone topline grew by 37% YoY to Rs2.7bn (vs est. Rs2.8bn).</li></ul><div><div><div><div><ul><li>4QFY22 consolidated topline grew by 24.4% YoY to Rs4bn. Gross margin expanded by 100bps YoY to 63.6% (down 30bps QoQ).</li></ul><div><div><div><div><ul><li>FY22 performance: Standalone revenue and EBITDA grew by 90.9% YoY and 175.7% YoY, respectively.</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><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>

4QFY22 standalone topline grew by 37% YoY to Rs2.7bn (vs est. Rs2.8bn).4QFY22 consolidated topline grew by 24.4% YoY to Rs4bn. Gross margin expanded by 100bps YoY to 63.6% (down 30bps QoQ).FY22 performance: Standalone revenue and EBITDA grew by 90.9% YoY and 175.7% YoY, respectively.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.

Restaurant Brands Asia - Slight Miss; Guidance Upped for India Business