Hold Westlife Development, target price Rs 380: ICICI Securities
Westlife Development Ltd., incorporated in the year 1982, is a Mid Cap company (having a market cap of Rs 5997.93 Crore) operating in Tourism & Hospitality sector.
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Promoters held 59.1 per cent stake in the company as of Sept 30, 2020, while FIIs held 10.1 per cent, DIIs 18.3 per cent and public and others 11.5 per cent.
ICICI Securities has given a hold rating to Westlife Development with a target price of Rs 380. The share price moved up by 0.85 per cent from its previous close of Rs 380.45. The stock’s last traded price is Rs 383.70.
Westlife Development Ltd., incorporated in the year 1982, is a Mid Cap company (having a market cap of Rs 5997.93 Crore) operating in Tourism & Hospitality sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 206.94 Crore, up 120.41 % from last quarter Sales of Rs 93.89 Crore and down -47.59 % from last year same quarter Sales of Rs 394.87 Crore Company reported net profit after tax of Rs -32.54 Crore in latest quarter.
Investment Rationale The brokerage increases FY22 earnings estimates by 7%; modelling revenue / EBITDA CAGR of 7 / 22 (%) over FY20-22E. It retains HOLD with DCF- based revised target price of Rs380 (Rs340 earlier). Key downside risk includes sustained weak consumer sentiment impacting restaurant throughput. Promoter/FII Holdings Promoters held 59.1 per cent stake in the company as of Sept 30, 2020, while FIIs held 10.1 per cent, DIIs 18.3 per cent and public and others 11.5 per cent.
