Motilal Oswal's research report on Westlife Foodworld
Westlife Foodworld (WESTLIFE) reported revenue growth of 3% YoY (slowest among peers) to INR6.7b in 3QFY26 (below). Same-store sales growth (SSSG) declined 3.2% YoY (est. flat) on a soft base of +3%, given the ongoing challenging operating environment. Average sales per store declined 4% YoY to INR60m (annually) in 3QFY26. On-premise business grew 6% YoY, while the delivery business declined slightly due to volatility in third-party aggregators business.
Outlook
We reiterate our Neutral rating with a TP of INR535, based on 28x Dec’27E EV/EBITDA (pre-IND AS).
For all recommendations report, click here
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