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Neutral on Barbeque-Nation, target price Rs 690: Motilal Oswal Financial Services
​Barbeque-Nation (BARBEQUE) is among the few scalable casual dining players with a healthy store economics and net cash balance sheet. In the last one year, weak macro has adversely impacted SSSG earnings. At EV/Sales of 1.4x and EV/EBITDA of 14x on FY26E, it is the lowest in the retail space, offering a better risk reward opportunity.