#AngelOne Recommendation
Company:
Devyani International Ltd.
Rating: Buy
Target price: 219
Rationale to invest:
Devyani International Ltd. (DIL) is Yum! Brands’ largest franchisee in India, with more than 800 stores including KFC, Pizza Hut, and Costa Coffee. Currently, DIL operates 339 KFC stores, 391 Pizza Hut stores, 50 Costa Coffee stores in India, and balance stores from other brands and international locations. QSR industry is expected to grow 23% CAGR over FY20-25. Going forward, we expect DIL to report strong top-line growth & improvement in operating on the back of aggressive store addition, improving store unit economics, and strong brand.
Company:
Devyani International Ltd.
Rating: Buy
Target price: 219
Rationale to invest:
Devyani International Ltd. (DIL) is Yum! Brands’ largest franchisee in India, with more than 800 stores including KFC, Pizza Hut, and Costa Coffee. Currently, DIL operates 339 KFC stores, 391 Pizza Hut stores, 50 Costa Coffee stores in India, and balance stores from other brands and international locations. QSR industry is expected to grow 23% CAGR over FY20-25. Going forward, we expect DIL to report strong top-line growth & improvement in operating on the back of aggressive store addition, improving store unit economics, and strong brand.