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
For More Research Reports : Click Here
For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412









