Burger King India: Strong recovery quarter; multiple growth levers
With sales crossing pre-COVID levels in October 2021, and malls and colleges reopening, BKIL’s performance is likely to improve
November 26, 2021 / 08:57 AM IST
Burger King India | The company to acquire 83.24 percent stake in PT Sari Burger Indonesia which has 177 restaurants.
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Burger King India Ltd (BKIL; CMP: Rs 152; Market Cap: Rs 5,824 crore) has posted a strong recovery in the September 2021 quarter, with sales reaching near pre-COVID levels.
A strong pick-up in the top line helped BKIL post double-digit EBITDA margin. With sales crossing pre-COVID levels in October 2021, and malls and colleges being opened up, BKIL’s performance is expected to improve. BKIL has the pan-India master franchisee rights till 2039 and plans to open 700 stores by December 2026,...