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Buy Devyani International; target of Rs 195: Choice Equity Broking

Choice Equity Broking is bullish on Devyani International has recommended buy rating on the stock with a target price of Rs 195 in its research report dated November 24, 2021.

November 25, 2021 / 10:50 AM IST
 
 
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Choice Equity Broking's report on Devyani International


Devyani International Limited (DIL), incorporated in 1991, operates a chain of franchised quick service restaurants in India, Nepal, and Nigeria. The company’s core brands business include KFC, Pizza Hut, and Costa Coffee stores operated in India; International Business comprise KFC and Pizza Hut stores operated in Nepal and Nigeria. Other Business consists of its own brands, such as Vaango, and Food Street. As of Sept 30, 2021, its core brands business operated 705 stores, including 309 KFC stores, 351 Pizza Hut stores, and 45 Costa Coffee stores. Its international business operated 44 stores and Other Business operated 54 stores.



Outlook


We assign ‘Buy’ rating on stock with target price of Rs.195 valuing the business at EV/EBIDTA 37x FY24E.


For all recommendations report, click here

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Broker Research
first published: Nov 25, 2021 10:50 am

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