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Prabhudas Lilladher Report
We are initiating coverage on burger chains (Westlife Development Ltd. and Burger King India Ltd.) with a positive view.
We believe organized burger chains will benefit from the accelerated shift towards organized foodservice players post-pandemic given low penetration, focus on hygiene and fast catch up by convenience channel.
We expect burger chains to benefit from Covid-19 led restructuring by the closure of unviable stores, rental negotiation, supply chain improvements which have lowered overheads by 20-30%.
Burger chains have also broad based their offering with wraps, rice bowls, puffs, breakfast items and SIS cafe as a part of their menu options.
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