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Prabhudas Lilladher Report
We remain constructive on Restaurant Brands Asia Ltd. post recent management interaction. We believe Restaurant Brands Asia presents a compelling opportunity to play Burger King brand in India and Indonesia along with Popeyes in Indonesia.
BK India remains on track to be profit after tax positive by FY24 led by-
rising average daily sales in Burger King,
sustained menu innovations (kings and stunner collections),
ability to capture higher wallet share with cafe and breakfast and
aggressive store expansion targeting 475 Burger King and 350 BK Cafe by FY24.
Though footfalls are 20% lower from pre-Covid levels there is scope to increase average daily sales, as India has skirted the fourth wave.
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