Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹9054 Cr.
Stock P/E
280
P/B
15
Current Price
₹580.6
Book Value
₹ 38.7
Face Value
2
52W High
₹658.4
52W Low
₹ 398.4
Dividend Yield
0.07%

Westlife Foodworld Overview

Business

Westlife Foodworld Ltd (formerly Hardcastle Restaurants Pvt. Ltd.) is the master franchisee for McDonald's restaurants in West and South India. The company is primarily engaged in the business of setting up and operating McDonald's restaurants, offering a range of fast-food items including burgers, fries, wraps, beverages, and desserts. Its core business model revolves around providing a quick-service restaurant (QSR) experience, leveraging the globally recognized McDonald's brand. It makes money through direct sales of food and beverages to customers across various formats such as dine-in, drive-thru, takeaway, and digital delivery channels.

Revenue Mix

Westlife Foodworld operates as a single-brand entity (McDonald's) within its designated region. Therefore, it does not have distinct business segments in the traditional sense. Its revenue is primarily generated from the sale of food and beverages across its network of restaurants. Revenue contribution can be broadly categorized by sales channels (dine-in, delivery, drive-thru, takeaway), but these are operational channels rather than separate business segments.

Industry

The company operates in the highly competitive and growing Indian organized Quick Service Restaurant (QSR) market. This industry is characterized by increasing consumer demand for convenience, value, and international food options. Westlife Foodworld holds a significant position as one of the largest QSR chains in its operating regions (West and South India) and is a prominent player in the Western fast-food category. It competes with other international and domestic QSR chains across various cuisines.

MOAT

Westlife Foodworld benefits significantly from the strong brand equity and global recognition of McDonald's. This includes established brand trust, widespread consumer recall, and proven operational playbooks. Its scale, particularly in its regions of operation, allows for efficient supply chain management, economies of scale in procurement, and a wide real estate footprint. Consistency in food quality and service across its outlets, coupled with continuous menu innovation aligned with local tastes, contributes to customer loyalty.

Growth Drivers

Market Expansion: Increasing penetration in existing and new cities within its operating regions through new store openings and leveraging formats like smaller, digital-enabled outlets and drive-thrus.

Digital & Delivery Growth: Continued focus on strengthening its digital presence, online ordering platforms, and expanding its delivery network to tap into the convenience-driven consumer trend.

Menu Innovation: Introducing new products, limited-time offers, and value meals tailored to Indian preferences and health consciousness to attract a wider customer base and drive repeat visits.

Demographic Tailwinds: India's large young population, rising disposable incomes, and increasing urbanization are driving a shift towards out-of-home consumption and organized food services.

Operational Efficiency: Optimizing restaurant operations, technology adoption (e.g., self-ordering kiosks), and supply chain management to improve margins and enhance customer experience.

Risks

Intense Competition: The Indian QSR market is highly competitive with numerous domestic and international players constantly vying for market share.

Food Inflation & Input Costs: Volatility in raw material prices (dairy, vegetables, meat) and rising operating costs (rent, labor, utilities) can impact profitability.

Consumer Discretionary Spending: Economic slowdowns or inflationary pressures can reduce consumer discretionary spending on eating out, affecting sales.

Brand Reputation: Any global or local issues related to the McDonald's brand, food safety concerns, or negative publicity could impact consumer trust and sales.

Regulatory Changes: Changes in food safety regulations, labor laws, or taxation policies can affect operations and costs.

Management & Ownership

Westlife Foodworld Ltd is promoted by the Jatia family, with Amit Jatia serving as the Vice Chairman. The company is professionally managed with an experienced leadership team that has been instrumental in scaling the McDonald's brand in West and South India for over two decades. The ownership structure includes the promoter group holding a significant stake, alongside institutional investors and public shareholders.

Outlook

Westlife Foodworld is well-positioned to capitalize on the secular growth trend in India's organized food services market, driven by its strong brand association with McDonald's and extensive operational experience. The company's strategic focus on store expansion, digital transformation, and menu localization offers avenues for continued revenue growth. However, sustained profitability will depend on its ability to manage input cost pressures effectively, navigate intense competitive landscape, and continuously innovate to meet evolving consumer preferences. Operational execution and efficient capital allocation for expansion will be key determinants of its long-term success.

Westlife Foodworld Share Price

Live · BSE / NSE · Inception: 1982
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Westlife Foodworld Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 562 616 618 654 603 658 642 671 655 736
Other Income 5 5 6 3 10 7 11 7 6 7
Total Income 567 621 624 657 613 664 653 678 662 742
Total Expenditure 487 538 542 566 526 572 575 573 568 643
Operating Profit 80 84 82 91 87 92 78 105 93 100
Interest 28 30 32 33 33 35 36 37 37 39
Depreciation 50 49 50 52 53 55 57 56 58 60
Exceptional Income / Expenses 0 0 0 0 0 0 53 -10 0 0
Profit Before Tax 2 5 1 6 1 2 37 2 -1 1
Provision for Tax 1 1 0 -1 -0 0 9 1 -3 0
Profit After Tax 1 3 0 7 2 1 28 1 2 1
Adjustments 0 0 0 -0 0 0 0 -0 0 0
Profit After Adjustments 1 3 0 7 2 1 28 1 2 1
Adjusted Earnings Per Share 0 0.2 0 0.4 0.1 0.1 1.8 0.1 0.2 0

Westlife Foodworld Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 833 931 1135 1402 1548 986 1576 2278 2392 2491 2626 2704
Other Income 10 20 18 14 13 44 28 20 18 24 31 31
Total Income 843 951 1153 1416 1561 1030 1604 2299 2410 2516 2657 2735
Total Expenditure 791 884 1058 1283 1334 939 1387 1904 2022 2171 2289 2359
Operating Profit 52 67 95 133 227 91 217 394 388 344 368 376
Interest 15 15 15 18 81 85 83 93 110 127 145 149
Depreciation 58 64 67 80 138 140 136 152 182 204 226 231
Exceptional Income / Expenses 23 0 0 0 -17 4 0 0 0 0 43 43
Profit Before Tax 3 -12 13 35 -9 -129 -2 149 96 13 40 39
Provision for Tax 0 0 0 14 -1 -29 -0 38 27 1 7 7
Profit After Tax 3 -12 13 21 -7 -99 -2 112 69 12 32 32
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 3 -12 13 21 -7 -99 -2 112 69 12 32 32
Adjusted Earnings Per Share 0.2 -0.8 0.8 1.4 -0.5 -6.4 -0.1 7.2 4.4 0.8 2.1 2.1

Westlife Foodworld Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 538 528 542 584 577 481 462 566 588 603 619
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 8 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 0 0 2 -3 771 713 812 946 1102 1261 1423
Total Current Liabilities 292 353 385 437 404 490 482 537 574 689 706
Total Liabilities 838 881 929 1018 1752 1683 1756 2049 2265 2554 2748
Fixed Assets 502 531 554 595 1408 1284 1362 1623 1817 2051 2252
Other Non-Current Assets 131 172 251 198 176 184 207 221 254 248 307
Total Current Assets 204 178 124 225 168 215 187 206 194 255 189
Total Assets 838 881 929 1018 1752 1683 1756 2049 2265 2554 2748

Westlife Foodworld Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 7 7 7 9 8 1 11 23 8 14 59
Cash Flow from Operating Activities 80 66 137 112 200 129 171 349 340 345 352
Cash Flow from Investing Activities -80 -91 -111 -145 -68 -74 -56 -265 -185 -221 -202
Cash Flow from Financing Activities -0 26 -22 32 -139 -45 -102 -98 -149 -79 -192
Net Cash Inflow / Outflow -1 0 4 -1 -7 10 12 -15 6 45 -42
Closing Cash & Cash Equivalent 7 7 11 8 1 11 23 8 14 59 17

Westlife Foodworld Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 0.18 -0.78 0.83 1.37 -0.47 -6.38 -0.11 7.16 4.44 0.78 2.07
CEPS(Rs) 3.89 3.32 5.15 6.49 8.42 2.58 8.64 16.91 16.12 13.87 16.58
DPS(Rs) 0 0 0 0 0 0 0 0 3.45 0.75 0.4
Book NAV/Share(Rs) 34.41 33.67 34.53 37.06 36.67 30.6 29.48 36.29 37.25 37.88 38.62
Core EBITDA Margin(%) 5.11 5.04 6.82 8.49 13.83 4.76 12 16.42 15.44 12.84 12.83
EBIT Margin(%) 2.17 0.35 2.46 3.77 4.65 -4.48 5.11 10.63 8.59 5.63 7.05
Pre Tax Margin(%) 0.37 -1.3 1.13 2.51 -0.57 -13.06 -0.13 6.56 4.01 0.52 1.51
PAT Margin (%) 0.34 -1.3 1.13 1.52 -0.47 -10.08 -0.11 4.9 2.89 0.49 1.23
Cash Profit Margin (%) 7.26 5.54 7.06 7.2 8.46 4.08 8.55 11.58 10.51 8.68 9.85
ROA(%) 0.35 -1.41 1.42 2.19 -0.53 -5.79 -0.1 5.86 3.21 0.5 1.22
ROE(%) 0.53 -2.29 2.42 3.82 -1.28 -18.98 -0.36 21.76 12.07 2.07 5.42
ROCE(%) 2.67 0.46 3.86 6.86 9.13 -6.07 11.85 33.73 25.69 16.12 20.23
Receivable days 1.85 1.79 1.83 2.11 1.71 2.5 2.56 1.92 2.14 2.66 2.51
Inventory Days 11.37 11.38 10.28 9.72 9.68 16.23 11.86 10.2 10.28 10.55 10.47
Payable days 68.18 70.72 78.41 80.69 83.35 164.03 127.12 95.75 100.22 106.54 111.88
PER(x) 1070.84 0 387.27 313.31 0 0 0 95.57 181.15 895.06 233.24
Price/Book(x) 5.67 6.34 9.27 11.57 8.73 15 16.23 18.84 21.58 18.41 12.52
Dividend Yield(%) 0 0 0 0 0 0 0 0 0.43 0.11 0.08
EV/Net Sales(x) 3.81 3.77 4.54 4.92 3.34 7.46 4.84 4.76 5.34 4.46 2.98
EV/Core EBITDA(x) 60.68 52.34 54.15 51.99 22.75 80.64 35.2 27.49 32.91 32.31 21.25
Net Sales Growth(%) 9.04 11.68 21.93 23.54 10.4 -36.29 59.88 44.51 4.99 4.16 5.39
EBIT Growth(%) 196.16 -82 756.16 89.86 36.17 -161.36 282.23 200.63 -15.13 -31.81 32.09
PAT Growth(%) 109.73 -527.82 206.08 65.61 -134.51 -1253.06 98.32 6797.48 -37.97 -82.45 166.18
EPS Growth(%) 109.73 -527.84 206.06 65.59 -134.5 -1251.95 98.33 6799.72 -37.97 -82.45 166.16
Debt/Equity(x) 0.28 0.36 0.34 0.41 0.32 0.45 0.44 0.37 0.41 0.52 0.5
Current Ratio(x) 0.7 0.51 0.32 0.51 0.42 0.44 0.39 0.38 0.34 0.37 0.27
Quick Ratio(x) 0.63 0.42 0.24 0.42 0.31 0.34 0.27 0.25 0.23 0.25 0.17
Interest Cover(x) 1.21 0.21 1.86 2.98 0.89 -0.52 0.98 2.61 1.87 1.1 1.27
Total Debt/Mcap(x) 0.05 0.06 0.04 0.04 0.04 0.03 0.03 0.02 0.02 0.03 0.04

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +5% +5% +22% +12%
Operating Profit CAGR +7% -2% +32% +22%
PAT CAGR +167% -34% — +27%
Share Price CAGR -12% -15% +1% +11%
ROE Average +5% +7% +8% +2%
ROCE Average +20% +21% +22% +11%

Westlife Foodworld Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 56.4 %
FII 6.93 %
DII (MF + Insurance) 28.31 %
Public (retail) 8.36 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 56.2856.2556.2556.2556.2656.2556.2556.2656.3656.4
FII 11.613.8313.7213.912.8611.2510.419.287.716.93
DII 23.0120.9921.3121.2322.3324.0324.7925.527.2628.31
Public 9.118.928.728.618.568.478.558.968.678.36
Others 0000000000
Total 100100100100100100100100100100

Westlife Foodworld Peer Comparison

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Westlife Foodworld Quarterly Price

10-year quarterly close · BSE
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News & Updates

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Westlife Foodworld Pros & Cons

Pros

Cons

  • Company has a low return on equity of 7% over the last 3 years.
  • Debtor days have increased from 106.54 to 111.88days.
  • Stock is trading at 15 times its book value.
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