Item: Westlife Development Ltd.
Rating: 3
Author: Axis Direct

Result Update - Westlife Development

Hold: Westlife Development Ltd.

Recommendation Target

Axis Direct

Q1 sales grew 14% YoY with SSSg at 8.7% the highest in past four years. Gross margin was stable at 60.1%, but EBITDA margin improved 90 bps YoY at 5.6%, as higher staff costs (up 90 bps YoY) were more than offset by operational efficiencies (increasing restaurants under ROP2.0 platform)

Comment

Name	Companies Held
Hitesh Ramji Javeri and As...	50
Mahendra Girdharilal	50
Sangeetha S	50
Sharad Kanayalal Shah and ...	50
Dheeraj Kumar Lohia and As...	47

Name	Companies Held
Hdfc Trustee Company Limited	89
Birla Sun Life Trustee Com...	50
General Insurance Corporat...	50
Government Pension Fund Gl...	50
Hdfc Standard Life Insuran...	50

Name	Returns(%)
Name	Week	Month	Year
Quant Active Fund - Reg - G	2.30%	7.28%	93.06%
UTI - Core Equity Fund - Reg - G	0.54%	3.67%	69.18%
HDFC Growth Opportunities Fund - Reg - G	0.62%	3.35%	67.83%
Quant Focused Fund - Reg - G	2.75%	5.43%	67.67%
UTI - Equity Fund. - Reg - G	0.99%	3.95%	64.96%

Name	Returns(%)
Name	Week	Month	Year
Kotak Small Cap Fund - Reg - G	0.86%	6.47%	121.71%
Reliance Small Cap Fund - Reg - G	1.06%	7.52%	115.27%
L&T Emerging Businesses Fund - Reg - G	1.93%	7.65%	112.12%
Aditya Birla Sun Life Small Cap Fund - Reg - G	1.64%	7.43%	108.81%
Union Small Cap Fund - Reg - G	0.62%	8.05%	105.09%

Name	Returns(%)
Name	Week	Month	Year
ICICI Prudential Smallcap Fund - Reg - G	1.74%	10.17%	113.72%
HDFC Small Cap Fund - Reg - G	0.86%	6.88%	109.81%
Quant Mid Cap Fund - Reg - G	2.02%	5.41%	91.23%
Reliance Growth Fund - Reg - G	1.93%	8.00%	80.37%
Templeton India Value Fund (erstwhile known as Templeton India Growth Fund) - Reg - G	0.48%	2.19%	78.28%

Westlife Development Ltd.

Result Update - Westlife Development

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