Westlife Food gets yummy
Westlife Foodworld Limited (WFL), formerly Westlife Development, is the master franchisee for McDonald’s restaurants across West and South India, through its wholly-owned subsidiary Hardcastle Restaurants. It operates 337 McDonald’s restaurants (as of September 30th 2022) across 52 cities.
The stock price soared from its close of Rs.739 to hit a new 52-week high today at Rs.815.25 on the back of volumes over 5x.
This new found love for the stock is after the company a very robust vision over the next five years.
In a presentation, the company said that it aims to increase the number of stores to 580-630 and is expecting a three-fold jump in sales, between Rs 4,000 - Rs 4,500 crore, by 2027 on the back of network expansion, and omni channel approach.
Westlife Foodworld managed to improve its profitability – for Q2FY23, it reported a net profit of Rs.31 crore v/s net loss of Rs.4 crore (YoY) on a 48% jump in total revenue at Rs.572 crore.