Shares of quick service restaurants (QSRs) — Jubilant FoodWorks (Jubilant) and Westlife Development (Westlife) — are likely to continue trading at premium valuations vis-à-vis fast-moving consumer goods (FMCG) companies with similar market capitalisation, which are witnessing demand moderation (mainly in personal and home care segments).
The current one-year forward valuations of 45x price-to-earnings for Jubilant and 34x enterprise value/ earnings before interest, tax, depreciation, and amortisation (Ebitda) for Westlife are 1-2x higher than some midcap FMCG ...
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