Westlife Foodworld Ltd Share Price – NSE  /  BSE

Quick Service Restaurant, Small Cap

Westlife Foodworld has announced the appointment of Hrushit Shah as its Chief Financial Officer (CFO), with effect from 9 May 2024. Hrushit will be responsible for overseeing all aspects of financial management and strategy to ensure the company's financial success. In his new role, Hrushit will work closely with the leadership team to devise effective financial strategies for the company.

Prior to joining Westlife Foodworld, Hrushit was Vice President - Finance for Pidilite Indsutries Ltd. In a career spanning over 18 years, he has worked with multiple organizations like the Landmark Group, Godrej Consumer Products Limited, and Marico Limited across various roles. He is a Chartered Accountant (CA) with diverse industry experience across Asia, the Middle East, Africa, and the US. His areas of expertise include multiple aspects of financial management, like strategic planning, budgeting and forecasting, financial controlling, treasury management, and financial analysis.

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Net profit of Westlife Foodworld declined 96.22% to Rs 0.76 crore in the quarter ended March 2024 as against Rs 20.09 crore during the previous quarter ended March 2023. Sales rose 1.64% to Rs 552.70 crore in the quarter ended March 2024 as against Rs 543.80 crore during the previous quarter ended March 2023.

For the full year,net profit declined 37.97% to Rs 69.21 crore in the year ended March 2024 as against Rs 111.58 crore during the previous year ended March 2023. Sales rose 4.82% to Rs 2368.22 crore in the year ended March 2024 as against Rs 2259.40 crore during the previous year ended March 2023.

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Westlife Foodworld will hold a meeting of the Board of Directors of the Company on 8 May 2024.

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McDonald's India received confirmation from the Food Safety and Standards Authority of India (FSSAI) that their products use 100% real cheese without any substitutes. FSSAI is the highest authority for food regulations and standards in India. The FSSAI explicitly stated that the products contain real cheese and not any dairy analogues. Independent testing from an accredited laboratory also affirmed the use of 100% real cheese. Following this clearance, McDonald’s India (W&S) will continue to use the term cheese in its product names, emphasizing its commitment to transparency and consumer trust.

Westlife Foodworld is an Indian company that operates McDonald's restaurants in Western and Southern India. They function as the master franchisee for this region through a subsidiary company named Hardcastle Restaurants Pvt. Ltd. (HRPL).

On a consolidated basis, net profit of Westlife Foodworld declined 52.60% to Rs 17.24 crore on 2.74% decline in net sales to Rs 592.48 crore in Q3 December 2023 over Q3 December 2022.

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