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Midcap Stock Idea - Buy Burger King India Ltd For Target Rs. 218 By Angel Broking Ltd

Burger King India Ltd (BKIL) is into the business of Quick Service Restaurants(QSR) under the brand name of 'Burger King'. QSR industry is expected to grow ~23% CAGR over FY20-25 which would benefit the player like BKIL. Over FY16-20, BKIL has reported revenue CAGR of ~56% which outperformed its peers during the same period. BKIL is expected to add more than 200 stores in the next 3 years which would drive strong revenue growth. Going forward, we expect BKIL to report strong top-line growth & gradual reduction in losses on the back of aggressive store addition, new product launches and strong brand. Hence we are positive on the stock with a buy rating.

Burger King India: CMP-Rs181 Target Price:-Rs218

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