Westlife Foodworld Ltd. share price target

We maintain our BUY rating on the stock with a unchanged TP of Rs 930/share (30x Sep24E EV/EBITDA), implying an upside of 29% from the CMP.

Strategy Day: Vision 2027 filled with delicacies

Westlife’s Strategy day provided visibility towards long-term growth drivers of store throughput (AUVM), network expansion and margins. It aspires to increase store throughput to ~Rs90-100mn (implied store throughput in CY27 is ~Rs70mn which is slightly higher than current Rs63mn) though it did not provide a guidance.
on that unlike last meet.

We maintain our BUY rating with a revised TP of Rs 930/share (30x Sep24E EV/EBITDA) vs. TP Rs 870/share earlier, implying an upside of 19% from the current level.

Westlife’s superior performance (over last few quarters) is an outcome of (1) good delta from product-mix improvement (vs peers) – commendable but long due efforts.

Performance upswing with dine-in channel back in play