India’s Leading Full-Service Broking Firm

Choice Equity Broking Private Limited is a member of BSE, NSE, MCX, MSEI and NCDEX along with being a depository participant with CDSL. To provide Traders “One Roof” services, we provide:

• Proprietary Trading Platform - Jiffy

• Panel of Expert Research Team

• Regularly engaged by Top Business Channels for Stock Market views

• Free Comprehensive Reports

• Trading / Investment Desk

• Portfolio Management Services


In our commitment towards creating wealth we have been “Nurturing Financial Excellence” for over 2 decades. Come, be a part of this journey.

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Why Choice Equity Broking Private Limited is THE Best Brokerage Firm for You ?

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Choice Broking adheres to all Regulatory Rules and Compliances. We abide by everything laid down by SEBI so you remain stress-free. As India’s leading Brokerage Firm we aim to lead by example.

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A combination of intensive analysis, exhaustive research by domain experts produces our research reports i.e. Fundamental Research Reports and Technical Research Reports. Now Invest/Trade in Stock Markets armed with reliable advice.

EQUITY RESEARCH REPORT


Devyani International Ltd, incorporated in 1991, is the largest franchisee of Yum Brands in India and is amongst the largest operators of chain quick service restaurants (QSR) in India. The company started operation in 1997 with the opening of first Pizza Hut store in Jaipur. With continued expansion of KFC and Pizza Hut franchise, DIL operated 309 KFC stores and 351 Pizza Hut stores in India as of 30th Sept 2021. The company also operated 45 Costa Coffee brands stores in India. Its business is broadly classified into three verticals : core brand business, international business and other business. Its core brand business includes stores of KFC, Pizza Hut and Costa Coffee operated in India; International Business includes KFC and Pizza Hut stores operated in Nepal and Nigeria; and Other Business includes certain other operations in the F&B industry, including stores of their own brands such as Vaango and Food Street.

Total number of stores in core brands increased from 469 as of 31st March 2019 to 705 as of 30th Sept 2021. Revenue from core brands rose from 83% of total operating revenue in FY19 to 94.2% in FY21. KFC is major contributor to revenue representing 58% of total sales in H1 FY22 as compared to Pizza Hut at 26% and 2% for Costa Coffee. The company focuses on high potential locations across towns and cities, airports, high street locations, malls, food courts, hospitals, business hubs and transit areas for opening the store. DIL collaborates with Yum across various aspects of operations for KFC and Pizza Hut for the franchisor’s brand protection, management, advertising, promotion and marketing activities. It is the sole franchisee for KFC and Pizza Hut in Nepal and KFC in Nigeria.

With increased focus towards core brands, opening of new stores in high street areas and incubation in new geographies, we expect the revenue from core brands to grow by 38.4% CAGR, international brands by 28.4% CAGR and other brands by 19.7% CAGR over FY22-24E. With improved contribution margin and lower interest cost, we expect the company to continue making profits in the coming fiscals. We assign ‘Buy’ rating on stock with target price of Rs.195 valuing the business at EV/EBIDTA 37x FY24E.

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Attention Investors:

1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.

2. Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.

3. Pay 20% upfront margin of the transaction value to trade in cash market segment.

4. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide NSE circular no NSE/INSP/45191 dated July 31, 2020, NSE/INSP/45534 dated August 31, 2020, BSE Notice no. notice no. 20200731-7 dated July 31, 2020 and 20200831-45 dated August 31, 2020, MCX circular no- MCX/INSP/649/2020 dated September 07, 2020, NCDEX Circular no- NCDEX/COMPLIANCE-051/2020 dated- September 03, 2020 and other guidelines issued from time to time in this regard.

5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.

.......... Issued in the interest of Investors

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To open an account online, you can sign up from the website or download our Jiffy App ( Android & iOS). It is advisable to download the app since the signing up will require a latest photograph of yourself, which can be easily taken from your phone camera.If your documents are ready, it will take you about 5 minutes to sign up.
Click here and fill the Sub-broker form with initial details as requested. Once the details are received, our team will immediately give you a call and guide you on how to proceed further. You can also get in touch with the customer care team to know more about it.
The brokerage charges are upon a fixed scale and amongst the lowest in the market. Brokerage charges for all segments are explained in detail in the below link: https://choicebroking.in/brokerage-charges
Choice Broking is a full-service broker. It is a part of the renowned Choice Group (a member of NSE, BSE, MCX-SX, MCX, NCDEX and a depository participant with CDSL in 2010). For trading we have a dedicated stock trading app – Jiffy, which is the fastest trading app out there with all important information available instantly.
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Choice Broking has over 2000 Business Partners spread across India.
Any citizen of India is eligible to be a Choice Broking sub-broker. You can do so by simply filling out the Sub-broker form via this link https://choicebroking.in/partner The team will contact you immediately and guide you on how to proceed further.
Choice Broking is an end-to-end financial services provider. Below are the list of services we offer.
  • Mutual Funds
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  • PMS – Portfolio Management Services
  • Insurance
  • Equity – Currency - Commodity Trading services
  • Loan against Shares
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Choice Broking was started in 2010.

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