I don’t understand, BK sells is more that of westlife or atleast similar. Number of stores are somewhat similar. But still market cap is less than half of westlife. Depreciation for BK is twice that of westlife which is non cash expense and same will reduce once store mature. Operating margins also not that different.
I think this could be similar story like polycab vs havells if BK delivers consistent results once situation improve. Little premium could be justified but this is huge gap in valuation that exist currently
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