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2025-07-15 11:42:45 am | Source: Motilal Oswal Financial Services Ltd
Buy Restaurant Brands Asia Ltd For Target Rs. 135 by Motilal Oswal Financial Services Ltd
Buy Restaurant Brands Asia Ltd For Target Rs. 135 by Motilal Oswal Financial Services Ltd

* The India business is expected to grow 12%. We build 2-3% SSSG as there is not much improvement in the underlying demand. Demand was good in Apr’25 but weak in May’25. The second half of Jun’25 was also not good.

* ADS is expected to decline 1% YoY to 118k.

* We model six store additions in India, bringing the total store count to 519 (14% YoY).

* We expect a 40bp expansion in GP margin to 68% due to stable RM prices. Additionally, we expect a 140bp YoY expansion of EBITDA margin to 14% due to cost efficiency

 

 

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