Westlife Foodworld - Improved Execution Engine, Rapid Share-Gain Potential Keep Us Positive: ICICI Securities

ICICI Securities Report

We attended supply chain familiarisation event conducted by Westlife FoodWorld Ltd. and met with the top management of Vista Processed Foods Pvt Ltd. (produces frozen products for McDonald’s) and Radhakrishna Foodland (distributes key raw materials required at McD stores).

We were impressed by the high-quality and hitech-focused capabilities of both the companies to handle backend support for Westlife FoodWorld. This enables Westlife FoodWorld to rapidly scale store expansion while enjoying the benefits of scale and cost-efficiencies simultaneously.

We like supply-chain partner’s incremental efforts towards optimisation of distribution cost by-

1. reducing food-miles through opening more distribution centers while optimizing frequency of supply as per store/catchment requirement,

2. healthy capacity utilisation of the food trucks (at 95% levels) by liasoning with delivery requirements of other brands,

3. timely delivery (record of 95% on-time delivery).

We believe, this shall aid Westlife FoodWorld to drive operating margin expansion.

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