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. 

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External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Westlife Foodworld’s Q3FY23 print was in line with our estimates.</li><li>Revenue grew 28% YoY (12% on 3-Year CAGR), while SSSG stood at 20% led by increased footfalls, improved product mix and price hikes.</li><li>Average Revenue per store stood at Rs 6.47 Cr (up 35% YoY) led by strong traction in meals, chicken and McCafe; moreover, menu innovation and judicious price increase (cumulative price hikes of 7%) has further led the overall AUV growth.</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>

Westlife Foodworld’s Q3FY23 print was in line with our estimates.Revenue grew 28% YoY (12% on 3-Year CAGR), while SSSG stood at 20% led by increased footfalls, improved product mix and price hikes.Average Revenue per store stood at Rs 6.47 Cr (up 35% YoY) led by strong traction in meals, chicken and McCafe; moreover, menu innovation and judicious price increase (cumulative price hikes of 7%) has further led the overall AUV 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.

Westlife Food - Robust Performance; Maintain BUY

Westlife Development

Westlife Food - Robust Performance; Maintain BUY