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Except for Westlife Foodworld (Westlife), a weak 2022-23 (FY23) January-March (fourth quarter, or Q4) quarter performance and a muted near-term outlook led to a downward revision of earnings estimates for quick-service restaurant (QSR) players. Brokerages have slashed estimates by as much as 10 per cent for 2023-24 (FY24) and 2024-25 (FY25). The downward revisions have weighed on the performance of listed players, who have underperformed the market with low single-digit returns over the past month.

Percy panthakiNaveen trivediMehul desaiAmnish aggarwalWestlife foodworldDevyani internationalPrabhudas lilladher researchBurger kingJm financial researchPizza hutRestaurant brands asiaKentucky fried chickenSapphire foods indiaJubilant foodworksAxis capitalBusiness news