India's Westlife hits record high after Q1 profit rise

ICICI Securities

28/07/2023 10:15

** Shares of Westlife Foodworld  WEST.NS  rise as much as
7.65% to hit record high of 966.90 rupees
    ** WEST reports 22% YoY rise in consolidated net PAT for Q1,
while total revenue rises 14.24% YoY 
    ** Emkay Global ("Buy", PT: 1,035 rupees) says WEST in
delivered best-in-class same store sales growth (SSG) of 7%
challenging environment, expects co to continue outperforming
peers 
    ** ICICI Securities ("Add", PT: 1,000 rupees) increases
WEST's earnings estimates by 2%-5% for FY24-25E, modelling
revenue/EBITDA CAGR of 18%/23% over FY23-25E      
    ** Stock witnesses most active trading session since Dec. 6
    ** More than 1.2 mln shares change hands by 2:34 p.m. IST,
9x the 30-day avg 
    ** Avg rating of 20 analysts close to equivalent of "buy",
median PT is 932 rupees - Refinitiv data
    ** Stock up 19% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))