Westlife Foodworld Ltd

Westlife Foodworld Ltd

₹ 732 -1.11%
19 Mar 2:22 p.m.
About

Westlife Development Limited (WDL) focuses on establishing and operating McDonald’s restaurants across West and South India, through its wholly owned subsidiary Hardcastle Restaurants Pvt Ltd (HRPL). [1]

Today, It manages 319 McDonalds restaurants and 223 McCafé outlets in West and South India in easily accessible and popular locations like malls, high-streets, shopping complexes and residential areas’ after outlet presence. It employees close to 10,000 employees. [2]

Key Points

History of Hardcastle Restaurants
Hardcastle Restaurants Pvt Ltd 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 HRPL. It is now the master franchisee of McDonald’s under an agreement of 2010. The agreement grants HRPL authority to provide initial capital for the business, with operational and technical business support from McDonald’s Corporation. [1]

  • Market Cap 11,415 Cr.
  • Current Price 732
  • High / Low 1,025 / 658
  • Stock P/E 129
  • Book Value 36.1
  • Dividend Yield 0.47 %
  • ROCE 14.8 %
  • ROE 21.7 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 84.6% CAGR over last 5 years

Cons

  • Stock is trading at 20.4 times its book value
  • Company has a low return on equity of 0.75% 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.

Peer comparison

Sector: Quick Service Restaurant Industry: Hotels

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
325 358 259 385 477 455 538 572 611 556 615 615 600
281 311 257 341 397 392 451 476 509 468 510 517 508
Operating Profit 44 47 3 44 79 63 87 96 102 89 104 98 92
OPM % 13% 13% 1% 12% 17% 14% 16% 17% 17% 16% 17% 16% 15%
12 3 6 4 4 13 2 5 8 6 5 3 5
Interest 21 20 20 20 21 21 22 23 23 25 26 27 28
Depreciation 35 34 33 34 35 35 36 37 39 41 43 44 46
Profit before tax 0 -5 -45 -6 28 21 32 42 48 28 41 30 23
Tax % 29% -42% 25% 25% 25% 25% 26% 25% 24% 28% 29% 26% 25%
0 -6 -33 -4 21 15 24 32 36 20 29 22 17
EPS in Rs 0.01 -0.41 -2.14 -0.28 1.34 0.98 1.51 2.02 2.33 1.29 1.85 1.43 1.11
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
548 688 740 764 833 931 1,135 1,402 1,548 986 1,576 2,278 2,386
484 625 693 745 786 881 1,050 1,277 1,329 925 1,379 1,896 2,003
Operating Profit 64 63 48 19 48 50 84 125 219 61 197 382 383
OPM % 12% 9% 6% 2% 6% 5% 7% 9% 14% 6% 13% 17% 16%
4 3 1 12 28 17 11 8 -8 34 20 12 19
Interest 0 1 5 10 15 15 15 18 81 85 83 93 107
Depreciation 25 31 44 50 58 64 67 80 138 140 136 152 173
Profit before tax 43 33 1 -29 3 -12 13 35 -9 -129 -2 149 122
Tax % 1% 0% -45% -0% 8% 0% 0% 39% 16% 23% 19% 25%
42 33 1 -29 3 -12 13 21 -7 -99 -2 112 89
EPS in Rs 1.96 2.33 0.06 -1.87 0.18 -0.78 0.83 1.37 -0.47 -6.38 -0.11 7.16 5.68
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 48%
Compounded Sales Growth
10 Years: 13%
5 Years: 15%
3 Years: 14%
TTM: 10%
Compounded Profit Growth
10 Years: 18%
5 Years: 85%
3 Years: 61%
TTM: -17%
Stock Price CAGR
10 Years: 8%
5 Years: 12%
3 Years: 16%
1 Year: 8%
Return on Equity
10 Years: 0%
5 Years: 2%
3 Years: 1%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 16 18 31 31 31 31 31 31 31 31 31 31 31
Reserves 191 244 530 502 507 496 511 553 546 450 431 535 532
Preference Capital 0 0 0 0 0 0 0 0 0 0 0 0
0 11 64 134 150 190 184 234 966 968 1,055 1,203 1,265
149 258 112 105 150 162 203 206 220 274 281 330 352
Total Liabilities 356 531 737 773 838 880 929 1,024 1,763 1,724 1,798 2,099 2,180
209 349 424 464 502 531 554 595 1,409 1,284 1,362 1,623 1,676
CWIP 20 40 18 21 18 17 20 28 23 26 36 57 64
Investments 8 1 159 148 156 170 184 204 157 198 150 130 134
120 142 137 140 161 162 171 196 175 215 249 289 306
Total Assets 356 531 737 773 838 880 929 1,024 1,763 1,724 1,798 2,099 2,180

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
65 70 38 19 80 66 137 112 200 129 171 349
-59 -120 -272 -84 -80 -91 -111 -145 -68 -74 -56 -265
2 55 222 61 -0 26 -22 32 -139 -45 -102 -98
Net Cash Flow 8 5 -13 -5 -1 0 4 -1 -7 10 12 -15

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 3 5 3 2 2 2 2 3 1 3 3 2
Inventory Days 22 21 23 28 30 30 29 29 28 49 40 38
Days Payable 54 68 68 65 74 74 93 84 87 194 123 100
Cash Conversion Cycle -29 -42 -42 -36 -42 -42 -62 -52 -58 -142 -80 -60
Working Capital Days -16 -30 -32 -56 -45 -43 -47 -22 -23 -60 -33 -28
ROCE % 16% 10% 2% -5% -1% -2% 3% 6% 8% -2% 5% 15%

Shareholding Pattern

Numbers in percentages

14 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
58.00% 56.40% 57.14% 57.13% 56.98% 56.98% 56.32% 56.23% 56.23% 56.23% 56.22% 56.23%
10.83% 11.55% 11.01% 10.74% 9.94% 9.47% 9.80% 10.12% 9.61% 9.70% 10.44% 10.48%
20.78% 20.89% 22.01% 22.69% 22.83% 23.34% 24.14% 23.68% 24.15% 24.14% 23.66% 23.99%
10.39% 11.16% 9.84% 9.44% 10.00% 9.95% 9.50% 9.72% 9.72% 9.64% 9.37% 9.00%
0.00% 0.00% 0.00% 0.00% 0.24% 0.25% 0.25% 0.26% 0.31% 0.31% 0.31% 0.32%
No. of Shareholders 22,78925,75925,13426,34433,30332,56331,73638,11634,12435,38236,38137,407

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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