Westlife Foodworld Ltd
Westlife Development Limited focuses
on establishing and operating McDonald’s restaurants across West and South India,
through its wholly owned subsidiary
Hardcastle Restaurants Pvt Ltd[1]
- Market Cap ₹ 8,970 Cr.
- Current Price ₹ 574
- High / Low ₹ 635 / 398
- Stock P/E 1,510
- Book Value ₹ 32.8
- Dividend Yield 0.13 %
- ROCE 2.80 %
- ROE 2.80 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 107% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 496%
- Promoter holding has increased by 1.46% over last quarter.
Cons
- Stock is trading at 17.5 times its book value
- Company has a low return on equity of 4.95% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.29 | 0.31 | 0.20 | 0.00 | 0.44 | 0.50 | 0.43 | 0.45 | 0.63 | 62.53 | 1.04 | 15.43 | 7.26 | |
| 0.59 | 0.74 | 0.65 | 0.57 | 0.77 | 0.81 | 0.83 | 0.87 | 1.20 | 2.18 | 1.63 | 1.34 | 1.49 | |
| Operating Profit | -0.30 | -0.43 | -0.45 | -0.57 | -0.33 | -0.31 | -0.40 | -0.42 | -0.57 | 60.35 | -0.59 | 14.09 | 5.77 |
| OPM % | -103.45% | -138.71% | -225.00% | -75.00% | -62.00% | -93.02% | -93.33% | -90.48% | 96.51% | -56.73% | 91.32% | 79.48% | |
| 0.26 | 0.24 | 0.15 | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.40 | 0.21 | 0.14 | 0.17 | |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.17 | 0.08 | 0.00 | 0.00 | 0.00 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | -0.04 | -0.19 | -0.30 | -0.53 | -0.33 | -0.31 | -0.40 | -0.42 | -0.74 | 60.67 | -0.38 | 14.23 | 5.94 |
| Tax % | 225.00% | 136.84% | 0.00% | 0.00% | 9.09% | 0.00% | 0.00% | 0.00% | 0.00% | 2.54% | -334.21% | 0.00% | |
| -0.13 | -0.45 | -0.30 | -0.53 | -0.36 | -0.31 | -0.40 | -0.42 | -0.74 | 59.12 | 0.89 | 14.23 | 5.94 | |
| EPS in Rs | -0.01 | -0.03 | -0.02 | -0.03 | -0.02 | -0.02 | -0.03 | -0.03 | -0.05 | 3.79 | 0.06 | 0.91 | 0.38 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -7,270.64% | 91.01% | 1,314.19% | 82.19% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 48% |
| 5 Years: | 105% |
| 3 Years: | 190% |
| TTM: | -53% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 42% |
| 5 Years: | 107% |
| 3 Years: | 177% |
| TTM: | -62% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 0% |
| 3 Years: | -15% |
| 1 Year: | -6% |
| Return on Equity | |
|---|---|
| 10 Years: | 1% |
| 5 Years: | 3% |
| 3 Years: | 5% |
| Last Year: | 3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31.11 | 31.11 | 31.11 | 31.12 | 31.12 | 31.13 | 31.16 | 31.19 | 31.19 | 31.19 | 31.19 | 31.19 |
| Reserves | 446.05 | 447.26 | 448.50 | 449.84 | 450.52 | 451.90 | 454.90 | 457.27 | 454.40 | 467.08 | 473.35 | 480.06 |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.01 | 0.00 | 0.00 | 0.00 | |
| 0.04 | 0.06 | 0.08 | 0.03 | 0.04 | 0.15 | 0.17 | 0.14 | 0.12 | 0.70 | 0.16 | 0.27 | |
| Total Liabilities | 477.20 | 478.43 | 479.69 | 480.99 | 481.68 | 483.18 | 486.23 | 488.60 | 487.72 | 498.97 | 504.70 | 511.52 |
| 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 62.04 | 62.28 | 475.18 | 475.18 | 476.21 | 477.30 | 479.48 | 481.43 | 482.06 | 490.33 | 496.76 | 501.47 |
| 415.16 | 416.15 | 4.51 | 5.80 | 5.46 | 5.88 | 6.75 | 7.17 | 5.66 | 8.64 | 7.94 | 10.05 | |
| Total Assets | 477.20 | 478.43 | 479.69 | 480.99 | 481.68 | 483.18 | 486.23 | 488.60 | 487.72 | 498.97 | 504.70 | 511.52 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -0.03 | -0.10 | 0.16 | -0.42 | -0.14 | -0.28 | 0.00 | -1.27 | -0.64 | 58.35 | -2.16 | 13.18 | |
| 0.03 | 0.00 | -0.30 | -0.01 | 0.00 | -0.60 | -1.75 | -1.50 | 0.00 | -2.50 | 2.11 | -1.47 | |
| 0.00 | 0.27 | 0.14 | 0.25 | 0.25 | 0.98 | 2.88 | 2.47 | -0.28 | -55.88 | 0.00 | -11.70 | |
| Net Cash Flow | 0.00 | 0.17 | 0.00 | -0.19 | 0.10 | 0.09 | 1.13 | -0.29 | -0.92 | -0.03 | -0.05 | 0.01 |
| Free Cash Flow | -0.03 | -0.10 | 0.16 | -0.43 | -0.14 | -0.28 | 0.00 | -1.27 | -0.64 | 58.35 | -2.16 | 13.18 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 3% | 23% | 20% | 89% | 42% | 90% | 0% | 302% | 112% | 99% | 351% | 94% |
Ratios
Standalone / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0.00 | 0.00 | 0.00 | 4,371.70 | 4,102.60 | 4,524.30 | 438.00 | 0.00 | 0.88 | 0.00 | 2.37 | |
| Inventory Days | 0.00 | 0.00 | 0.00 | |||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 0.00 | 0.00 | 0.00 | 4,371.70 | 4,102.60 | 4,524.30 | 438.00 | 0.00 | 0.88 | 0.00 | 2.37 | |
| Working Capital Days | 2,341.03 | 3,496.94 | 7,427.75 | 4,338.52 | 4,066.10 | 4,481.86 | 4,842.33 | 1,969.84 | 45.00 | 2,200.53 | 194.92 | |
| ROCE % | -0.01% | -0.04% | -0.06% | -0.11% | -0.07% | -0.06% | -0.08% | -0.09% | -0.12% | 12.32% | -0.08% | 2.80% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Same Store Sales Growth (SSSG) Percent YoY |
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| Total Restaurants (Store Network) Number of restaurants |
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| Number of Cities Number of cities |
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| Comparable AUV (Average Unit Volume, TTM) INR million |
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| Cumulative App Downloads (Life to Date) Million downloads |
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| Digital-led Sales (Apps + SOKs) as % of Total Sales Percent of sales |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- McDonald’s India launches Spicy Patakha Range in West and South India from 11 October 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Q2 FY27 results on 23 Oct 2026; earnings call for investors at 4:30 pm IST.
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Board Meeting Intimation for To Consider And Approve The Unaudited Financials Of The Company For The Quarter And Half Year Ended 30Th September, 2026.
- Board meeting on 23 October 2026 to consider Q2 and half-year FY2026-27 unaudited results.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
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Concalls
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Aug 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Sep 2023PPT
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May 2023Transcript PPT REC
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Aug 2017Transcript
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Aug 2016Transcript
History of Westlife Foods[1]
The company was established as a joint
venture with McDonald’s Corporation, USA
in 1995. McDonald's Corporation exited the Joint Venture in 2011 after selling its 50% stake to West Life Foods. It is now the master franchisee of McDonald’s under an agreement
of 2010. The agreement grants authority to provide initial capital for the business, with operational and technical business support
from McDonald’s Corporation.