Restaurant Brands Asia Ltd (NSE: RBA / BOM: 543248): Inflation Pains as Expansion Continues in India and Indonesia

Restaurant Brands Asia Ltd (NSE: RBA / BOM: 543248is the master franchisee of Burger King in India and Indonesia where it also operates POPEYES. The Company’s is still trying to recover from COVID as it continues to expand while restaurants and consumers in India have been feeling pain from rising costs of essentials. However, shares have recently soared on talk that a key shareholder is looking to sell it’s stake.


  • Restaurant Brands Asia Limited together with its subsidiaries operates quick service restaurants in India and Indonesia. The company develops, establishes, operates, and franchises Burger King branded restaurants. It also develops, establishes, operates, and franchises POPEYES branded restaurants in Indonesia. The company was formerly known as Burger King India Limited and changed its name to Restaurant Brands Asia Limited in February 2022. Restaurant Brands Asia Limited was incorporated in 2013 and is based in Mumbai, India.
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[Note: The Cafes have quicker payback periods]

  • Burger King India operator’s shares zoom 20% to hit upper circuit; here’s why (Business Today) May 2023
    • “Despite poor Q4 FY23 results due to a sharp increase in raw material costs, plans to sell and exit current business have led to a sharp uptrend in Restaurant Brands Asia stock price which is currently at a 6-month high. The news ensures a strong positive trend may persist but keeping this in mind, the stock price looked overbought on the daily charts with strong resistance at Rs 125. Investors should book profits at current levels and wait for a dip near support of Rs 100 to buy for better returns,” said AR Ramachandran from Tips2trades.
  • Burger King’s India operator posts bigger loss as costs rise (ET Hospitality World) May 2023
    • Restaurant Brands Asia Ltd, earlier known as Burger King India, reported a wider fourth-quarter loss on Wednesday, as it spent more on ingredients at a time when it is also expanding in India and Indonesia.
    • Restaurants in India have been feeling the pinch from rising costs of essentials such as cheese and milk, with expenses rising in recent quarters even as prices of vegetables have eased off their highs.
    • They are also wrestling with a slowdown in demand from inflation-weary consumers.
  • Q4 Indicates Consumers Had More Burgers Than Pizza | Business News | ET Now (YouTube) 5:47 Minutes (ET Now) May 2023
    • QSR players including the likes of Devyani International, Sapphire Foods, Jubilant Foodworks, Westlife Foodworld & Restaurant Brands Asia. Looking at the Same Store Sales growth Pizza hut which comes under the Sapphire Foods and Devyani International saw a negative growth of -4% and -3.2% respectively. While KFC under Sapphire Foods and Devyani saw a SSSg of 2% and 1.9% respectively. Talking about burgers Westlife Foodworld reported a strong set of numbers in Q4 and a clearly outperform vs peers with an SSSg of 14%. Vinnii Motiwala is here with more details.






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