Motilal Oswal's research report on Barbeque Nation Hospitality
The first normal quarter for BARBEQUE after the lifting of COVID-related restrictions witnessed a strong performance in dine-in, led by realization and covers. Delivery fell ~6% QoQ, especially in the Box product. While the second quarter is usually subdued, the recovery momentum in dine-in is likely to result in healthy earnings in 3Q and 4QFY23.
Valuations are fair at 18.2x FY24E pre Ind AS 116 EV/EBITDA. We maintain our Neutral rating.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.