Westlife Foodworld Ltd

Westlife Development Limited (WDL), belonging to the B.L. Jatia Group, is one of the fastest growing companies in India's QSR sector. The Company owns and runs a chain of McDonald's restaurants in Western and Southern India through its fully owned subsidiary, Hardcastle Restaurants Pvt. Ltd. Through this subsidiary, the Company is a master franchisee of McDonald's Corporation, USA. It presently focus on putting up and operating Quick Service Restaurants (QSR) in India, which is a Development Licensee / Master Franchisee of McDonald's and operates QSRs under the brand name McDonald's. Westlife Development Ltd (formerly known as Dhanprayog Investments Co. Ltd) was incorporated on October 30, 1982. However, in order to avail the opportunities in Real Estate development and other related activity including Hotels and Tourism, the Company changed the Objects Clause in its Memorandum of Association and changed its name to Westlife Development Ltd with effect from June 03, 2008. Pursuant to the resolution passed by members of the Company at an Extra Ordinary General Meeting held on 16th August 2013, the Directors of your Company on 27.08.2013 allotted 54,04,593 equity shares of RS. 2/- each at an issue price of RS. 333.05 per share including a premium of RS. 331.05/- per share to Arisaig Fund India Limited by way of preferential issue. The Bombay High Court had, vide its order dated 19th July 2013 approved the Scheme of Arrangement between the Company and its subsidiaries As a result, Hardcastle Restaurants Private Limited became the only and a direct subsidiary of the Company. In 1996, the Company started its first Indian restaurant in Bandra. In FY2015, the Company expanded its footprint with a gross addition of 27 new restaurants and also invested in re-imaging activities relating to building the interiors and exteriors to enhance the overall dining experience at its restaurants. For the same purposes, it invested Rs 1,021.8 million towards capital expenditure. During the year 2015, the Company closed/ relocated 2 restaurants across various locations in west and south India. In FY 2016, the Company expanded its footprint with gross addition of 30 new restaurants and also invested in re-imaging activities relating to building the interiors and exteriors to enhance the overall dining experience at its restaurants. For purposes of the same the Company invested Rs 1,007.3 million towards capital expenditure. During the year 2016, the Company closed/ relocated 3 restaurants across various locations in west and south India. In FY 2017-18, the Company broadened accessibility by adding 25 new restaurants and expanding McCafér and McDeliveryTM across restaurants. It deepened presence in existing areas, while simultaneously foraying into newer locations. The Company built an efficient real estate portfolio by entering into strategic long-term deals with sites or locations and land owners. This portfolio approach offered a long-term competitive advantage and allows a keen emphasis to be laid on quality real estate. This approach meant building a strong diversified portfolio of restaurants by operating in food courts, malls, transit points, high street retail outlets and standalone drive-thru restaurants. During 2017-18, the Company delivered value to customers through unique value platforms, great-tasting premium menu selections, locally relevant menu varieties and convenience and service enhancements. It introduced locally relevant menus that featured a blend of premium burgers, classic favourites, limited-time offers as well as everyday value-for-money offerings. It introduced a new value-concept as Happy Price Combos' to provide consumers a choice to form a combination of food and beverage from various menu products. Further, for the first time ever, it introduced 12 new products on the menu under its brand campaign 'Flavours without Borders' introducing range of new food products and beverages in three international cuisines - Indian, Mexican and Italian. These products were very well-accepted in the market. It invested in building various categories by introducing a variety of desserts and beverage options, focused on higher pricepoints, while concurrently strengthening the value proposition. Its new launches led to an increase in footfalls and higher average spends per consumer. It gained market share through the value platform. Strategic investments in formats such as drive-thrus and brand extensions like McCafé, McDeliveryT and breakfast platforms, dessert kiosks helped the Company create a portfolio that builds brand differentiation and yields long-term results. It collaborated with food aggregators such as FoodPanda, Swiggy and Zomato to create a more efficient delivery network and address a larger consumer base and their growing demands. As on 31st March 2018, 165 out of the 277 stores delivered food to customer's homes. Desserts continued to play a significant role as more dessert kiosks were added during the course of the year. It continued to improve customer experience through major remodelling initiatives, contemporary restaurant designs and retailing efforts. In FY 2018, the Company invested Rs 1016.6 million towards capital expenditure. It closed/relocated six restaurants across various locations in west and south India. It closed/relocated restaurants for a variety of reasons, such as existing sales and profit performance or completion of real estate tenure or shifts in restaurant trading areas. The Company had 319 outlets at the close of FY 2019-20. It strengthened position as a popular QSR in FY'19-20. HRPL commissioned 24 new restaurants, enhancing accessibility across its footprint; the Company was present in 42 cities and towns by the close of the year. It Deepened Restaurant Operating Platform (ROP) 2.0, enhancing operational efficiencies. It Strengthened supply chain and storage capacity, ensuring fresh and available food. The Company had 305 restaurants system-wide across West and South India by the close of FY20-21. In FY20-21, it strengthened inclusiveness through the launch of a special pack called 'EatQual' that addressed customers with limited upper limb mobility. Through its subsidiary, the Company owned and operated 326 restaurants and 262 McCafes across the Southern and Western states of Goa, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Madhya Pradesh and Kerala by end of FY 2021-22. In 2022, it launched McCafe, McBreakfast and McDelivery to enhance relevance within and beyond meal timings. It addressed breakfast, lunch, dinner, coffee, snacking and dessert needs from 7 am to 11 pm. During the FY 2022-23, the Company owned and operated 357 restaurants and 311 McCafes across Telangana, Gujarat, Karnataka, Maharashtra, Tamil Nadu, Kerala, Chhattisgarh, Andhra Pradesh, Goa, and parts of Madhya Pradesh and Union Territory of Puducherry. Read More