Westlife Foodworld Ltd (NSE: WESTLIFE) Q4 2025 Earnings Call dated May. 14, 2025
Corporate Participants:
Chintan Jajal — Lead Investor Relations
Akshay Jatia — Executive Director
Saurabh Kalra — Managing Director
Analysts:
Percy Panthaki — Analyst
Devanshu Bansal — Analyst
Gaurav Jogani — Analyst
Pranay Roop Chatterjee — Analyst
Jasdeep Walia — Analyst
Jignanshu Gor — Analyst
Rishi Mody — Analyst
Shivam Chomal — Analyst
Jagadish Sharma — Analyst
Amrutha — Analyst
Presentation:
Operator
Ladies and gentlemen, good day, and welcome to the Westlife Food World Limited Q4 FY ’25 Earnings Conference Call. As a reminder, all participant lines will remain in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal the operator by pressing star then zero on your touchstone telephone.
Please note that this conference is being recorded. I now hand the conference over to Mr Chintan, Head of Investor Relations. Please go-ahead.
Chintan Jajal — Lead Investor Relations
Thanks, Ryan. Welcome, everyone, and thank you for joining us on Food World Earnings Conference call for the 4th-quarter ended 31st March 2025. I am, Head IRS WestLife. From the management team, I have with me Mr Akshay, President and CEO; Mr Saurabh, Managing Director; Mr Shah, CFO; and Mr Amit, Chairperson.
We will kick-off today’s conversation with Akshay sharing his thoughts on overall business progress and outlook. This will be followed by Saurab taking us through operational, financial and strategic highlights. With that, we can open the forum for questions-and-answers. We will be referring to earnings presentation and financial releases already available on DSC, NSE and Investors page of our website. With that, I now request Akshay to commence this session. Thank you, and over to you, you,.
Akshay Jatia — Executive Director
Thank you, Chintan. Good afternoon, everyone. It’s great to have you on the call today. I hope you’ve had the opportunity to review our Q4 results and presentation. Our same-store sales growth stood at 0.7% and adjusted SSSG, excluding the year impact was 1.7% in Q4. This marks our second consecutive quarter of positive comparable sales, reinforcing our confidence in sustaining this momentum into the new financial year.
Throughout the quarter, we focus on our strategic priorities, that is the value proposition and product innovation . The mixsaver meals and the mixsavers plus combos have strengthened our value proposition while new offerings such as the Korean Range and Mango Burst Range are generating significant consumer excitement. This balanced approach has driven guest count growth while maintaining average size. That said, FY ’25 presented notable challenges for the food retail sector with soft demand and stagnant consumption trends across most of our markets. Eating out frequency during the March quarter remained largely unchanged from the previous year, drawing on our extensive experience navigating past market cycles, we are well-positioned to address these conditions more effectively than most of our competitors. The food retail industry in India is characterized by low barriers-to-entry, yet achieving scale with profitability is rare due to complex operations and changing consumer preferences. Tough times often lead to consolidation, but they also allow companies with strong brand equity, robust business models and superior operational execution to solidify their foundations for future growth. Accordingly, we’ve used this period to sharpen our strategy and streamline cost structures. Our network expansion remains on-track with 47 new restaurants opened in FY ’25, in-line with our guidance. A key milestone this quarter was the opening of our 100th drive-thru restaurant, enhancing our ability to deliver a best-in-class customer experience and reinforcing our competitive edge. With nearly all our stores now in the experience of the future format, I’m proud to say we operate one of the most modern network restaurant networks in the industry. We believe India’s eating out market is at a pivotal moment. The organized sector, particularly the Western fast-food category, is projected to grow in double-digits over the next five years. This presents an incredible opportunity for our company given our versatile business model, spanning dayparts, product categories and channels. To capitalize on this, we will continue with our network expansion plan. While we acknowledge the current challenging business environment, we remain committed to prudent expansion funded through internal accruals, ensuring sustainable and profitable growth. Lastly, I’m delighted to announce that Westlife Food World has achieved the top ranking in India and fifth place globally in the restaurant sector in S&P Global’s Corporate Sustainability Assessment. This distinguished recognition underscores our unwavering commitment to integrating sustainable practices into our business operations. Thank you for your support and confidence in us. I now hand over to Saurab, our Managing Director, to discuss the operational and financial highlights for the quarter.
Saurabh Kalra — Managing Director
Thank you, Akshay. Ladies and gentlemen, good afternoon. Thank you for joining us to discuss our Q4 results. We continue to demonstrate a resilient performance with consolidated sales of INR6 billion, which was up by 7% year-on-year on the back of same-store sales growth of 0.7%. Excluding the impact, the adjusted same-store sales growth, as Akshay pointed out is around 1.7% year-on-year.
As Akshay highlighted, our core priorities in the last few quarters have been to strengthen our value proposition and drive product innovation. This strategy actually has enabled us to achieve a good balance of guest count and average bill value. While some pressure on outside home food consumption continues, we remain focused on gaining market-share across our markets.
Our brand perception parameters, especially the value-for-money matrix remains very strong. In Q4, our on-premise business grew by 8% Y-o-Y, outpacing the business, which increased 5% Y-o-Y. Although quarterly growth trends vary due to multiple factors as an omnichannel brand, where we strive to deliver exceptional consumer experience across all touch points, driving simultaneous growth across all channels. Sales accounted for 43% of total sales, aligning with our two-year average.
For the full-year FY ’25, our sales, EBITDA and cash stood at INR24.9 billion, INR3.3 billion and INR1.9 billion respectively, growing by 16%, 17% and 14% on a three-year COGR basis. Moving on to product innovation, drawing inspiration from the young Indian consumer, commonly passionate about Korean things, be it music, food or fashion, we launched our limited time Korean range of burgers, type and drinks even at an entry-level price point of INR69. This brings a unique global experience for our consumers.
We also introduced Burst range including Mango Burst Flurry with Oreo and Mango Mex and Mango Bus Moody who beat the hot summers in the Mango season. Digital remains a cornerstore of our growth and consumer engagement strategy. In Q4, digital sales sustained a strong growth accounting to almost 75% of our total sales, driven by self-ordering kiosk and our mobile apps.
Our digital platforms are robust with 41 million cumulative app downloads and 3 million monthly active users per mouse. We are committed to digital innovation, delivering seamless customer experience across all touch points. Turning to profitability, our Q4 margin remained broadly in-line with our guidance. That is around 70% of gross margin.
Input costs were stable, restaurant operating margin and operating EBITDA margin dipped by around 30 basis-points and 50 basis-points Y-o-Y, respectively due to operating deleverage, partly offsetting targeted — by our targeted cost efficiencies and normalization of marketing spends. Cash profit-after-tax reached 469 million or 7.8% of sales. We are actively pursuing operational efficiencies to enhance our return ratios.
On expansion front, I’m happy and pleased that we added 18 new restaurants in Q4, bringing our total number of restaurants at 438 across 69 cities as of March 31st. Of these, 95% of the restaurants feature and almost all our stores are now experienced in the future. And with every one out-of-the four restaurants offer a drive-thru service. For the full-year, we added 47 stores in-line — in-line with our guidance of 45 to 50 for FY ’25.
Furthermore, I would like to highlight that despite a challenging year, we were able to fund our expansion largely through our internal accruals as seen in our net-debt position, which remains stable versus last year at INR90 crores. Our net-debt to equity stands at a comfortable 0.15 of March 31st. We continue to move towards achieving our vision 2027, targeting 580 to 630 restaurants.
We see a lot of potential in South where we are under-indexed and hence cities like Hyderabad, Chennai, Bangalore, as well as smaller town will see a healthy addition. We also feel that infrastructure development like highways, metros, airports are unlocking a lot of white spaces and we’ll be tapping into these opportunities as well. In conclusion, we are excited about the long-term potential we see in our markets with a vibrant economy, robust infrastructure development and large young population eager for convenience and new global experiences, we are well-positioned for growth. The current challenges are just temporary bumps on the road. We have been through these cycles like this before and we always end-up achieving a higher baseline. Our strength lies in our execution and our foundations, our trusted brand, loyal customer and a team which passionately serves and we run and running great restaurants, creating memorable experience for our consumers.
We are laser-focused on fortifying our market leadership and driving healthy profitable growth through execution progress. We remain committed to our 2027 goals. I will now turn the call over to the moderator and we are happy to take questions. Over to the moderator.
Questions and Answers:
Operator
Thank you. Ladies and gentlemen, we will now begin the question-and-answer session. Anyone who wishes to ask a question may press star and one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press star and 2. Participants are requested to use your handsets while asking a question.
Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question comes from the line of Percy from IIFL Securities. Please go-ahead.
Percy Panthaki
Hi, sir. Can you give some idea about the demand through the quarter? Did you see it sort of accelerating? And do you see that trajectory continuing or Do you think that, I mean, it’s too early to call-out any major recovery? What I’m trying to understand is in the near-term over the next let’s say, two to four months, can we see the SSSG go to a mid to-high single-digit number or that is still uncertain?
Saurabh Kalra
So just to answer your question per se, we have definitely been seeing sequential — sequential improvement as you’ve even seen in our quarter results, where you month-on month, we feel all our efforts are resulting in the traction and the green shoots we want to see. I can’t talk about this quarter specifically, but we did have a good outcome in terms of the last couple of months of last quarter as well.
And we are quite confident that with our plans, we remain committed towards Vision 2027, which implies that we plan to get back to that mid to-high single-digit FFSG over the next couple of years. So I think that to summarize, we are seeing green shoots. We are working on sequential improvement and we do feel that the demand environment is picking-up not in a very accelerated way, but in a slow and gradual manner.
Percy Panthaki
Got it. Next, I just wanted to get some sense on margins in light of comment by one of the other QSR companies this quarter, where they said that basically 3% to 4% kind of SSSG is required just to maintain the current level of margins and expansion will be seen only if the SSG goes above that level.
So what are your thoughts on this topic? Would you largely agree with this statement or would it be different for your company?
Saurabh Kalra
Okay. Yeah, I’ll answer it differently. Obviously, needless to say, there is always inflation every year and there is certain amount of sales required to cover-up for that inflation. It’s a reality of a business in an inflationary environment. However, that’s not how we have always approached it.
I think there are multiple levers to handle inflation, including programs, including pricing, including other cost-efficiency program, which the company does on its own. What I would say is there are certain areas commodities inflation actually increased substantially in the last half of the year, likes of coffee, likes of oil, likes of cocoa, et-cetera, have gone through the roof. So I think it remains challenging, but we feel confident that we should be able to maneuver and manage these challenges.
Percy Panthaki
Got it. And last question from my side. This quarter, how has the SSSG been broken into number of transactions and average value per transaction? I mean, out-of-the adjusted 1.7% SSG, what is the bigger driver? And also if you can give some comments on how the mix is shifting between the value part of the menu and the premium part of the menu?
I mean, in the last few quarters, we have concentrated quite a lot on the value part and also the market has moved that side. So do you see any kind of shift where premium is sort of now coming back and growing faster or that is not yet to happen?
Saurabh Kalra
Yeah. So largely, almost all our growth is coming on the volume — on the back of volume of not necessarily valued, primarily because of the value offering which we have given, they’re all based on the volume growth which we expected and similar things have panned out. So while we don’t give any breakups in terms of what make sure one where, but largely it’s not the value growth, it’s the volume growth which is given this number which we are seeing.
Percy Panthaki
Got it. That’s all from me. Thanks and all the best. Thank you.
Operator
Thank you. Ladies and gentlemen, we request you to restrict to two questions per participant and rejoin the question queue. The next question comes from the line of Devanshu Bansal from Emkay Global. Please go-ahead.
Devanshu Bansal
Hi, thanks for taking my question. Actually, interestingly, you mentioned that in-between there was this small-size competition that has baked-in, which is eventually bound to consolidate because of a weaker unit metrics, right? So are you seeing some amount of competition emerging specifically in the space? That is number-one.
And secondly, are there any initial signs of consolidation happening for some of this competition?
Saurabh Kalra
So in terms of competition, there has always been competition, right? And that’s what’s grown this entire Western pass food market. So I don’t think it’s anything new for us. And from our point-of-view, competitive intensity in fact grows the market and allows players like us or Westlife to stand-out in terms of the offerings that we have.
In terms of consolidation, I mean, you will see what you normally see in the news. I don’t see anything different in terms of how it’s been operating. But I think what I’ll leave it at is that Westlife and brands like ours that stand-out in terms of the offerings and performance are the ones that are going to continue to lead the market.
Devanshu Bansal
Understood. Secondly, I also wanted to understand the divergence in trends across regions for us, right? So earlier there were some differences between the growth trends in South and West. So how it is trending now and if there is a gap, what are the steps that we’re taking to correct that?
Saurabh Kalra
So we don’t break it out in terms of numbers, but obviously, the West has been a very strong market for us from day-one. We built the brand brick-by-brick and I think in terms of our communication today, the West customer resonates and relates to us quite easily and we’ve seen very good traction in the West over the last few months.
In terms of South, I think that we’ve made a lot of traction, whether it’s in terms of launching the right offerings or increasing our footprint in terms of number of stores. The work to be done continues to remain the same, where we’re continuing to increase the strength of our brand relevance and our connect with the customers.
We’ve seen again good traction over there in terms of lead and lag indicators and we’re very confident that it will give us the return metrics that we aspire for very similar to the West in a matter of time.
Operator
Thank you. The next question comes from the line of Gaurav Jogani from JM Financial. Please go-ahead.
Gaurav Jogani
Thank you for the opportunity. Sir, my first question is with regards to, if you look at the last year, the last year base is now very favorable, especially the first-half. In this context, how should one look at the performance going ahead? Or should we reconsider I mean those basis? I mean, how should we look at the growth for FY ’26 because there is a lot of noise in the data in FY ’25?
Saurabh Kalra
So how I would recommend you to look at the data is unfortunately most like most consumer-led businesses, we are a habit-led business. And therefore, the moment there is a tough year, but this time gets reestablished. So we can’t look at what happened last year favorable, non-favorable, that’s not how we look at it.
I think we have started growing. Like Akshit said, we started gaining traction. Last quarter we’ve grown, this quarter we’ve grown. We see — we would like to foresee and we would plan to make sure this momentum continues. And then when we see better and better results, that’s how we would look at it.
Gaurav Jogani
Sure. I mean see the context of asking this question was, if you look at the average unit volume of stores also and that has also seen such a sharp dip now given that there is traction in your overall growth rates in terms of the check size also the guest count, should low-base shouldn’t help at least to achieve a mid-single-digit kind of an SSP in that context?
Saurabh Kalra
Yeah. So let me give you another breakup. I don’t think our comp restaurants have degrown dramatically. In fact, if anything, they’ve grown and that’s where you see the comp growth. While a lot of chunk of restaurants have been added in the last two years, which is pulling down the average unit volume and some of them are conscious calls.
To give you an example, we opened a restaurant in Delhi, Mumbai Expressway in a only small area between and Sura, which has been open.
Now obviously, we knew that its volume will be far lower. And restaurants like those sometimes drag your average unit volume down, but I would not look at it that way. I would look at it showing you have to invest to grow for the future. And then some of it is that arbitra which keeps on playing.
But on the average unit volume on the stores, like-to-like stores, I don’t see us de-growing. I see us again, like I said, gaining momentum from where we were last year.
Operator
Thank you. The next question comes from the line of Pranay Roop Chatterjee from Burman Capital Management. Please go-ahead.
Pranay Roop Chatterjee
Hi, good evening, sir. Am I audible?
Saurabh Kalra
Yes. Loud been clear.
Pranay Roop Chatterjee
Great. Sir, this question — my question is on-demand. First question. So this question has already been asked. So I’ll ask it in a different way. So a couple of your peers have released results already. So when I’m looking at the pizza Category, who is the main peer in the pizza category, they’ve been doing double-digit SSG for a couple of quarters now. But when I look at your other peer who is running a pizza chain and a fried chicken chain, they are flat, very similar numbers and your numbers are also on the low positive side. So is it possible to then break-down the demand traction by food category, is that the right thing to do or would you say some of the higher double-digit numbers could be aberration or driven by something else?
Saurabh Kalra
While I cannot comment on anyone else’s business, what I can say is, in reality, like I said, our business is a momentum business and even the category is a momentum category in category. There are times when a brand gives us traction, there are times when the brand gains traction. What we see in our business, like I said, we have now started to grow back after almost a period of one year where we were having really strong headwinds.
And then we have to try to fix some of the basics and you will see the momentum continuing how I would like to be.
Pranay Roop Chatterjee
Got it. Sir, my second and final question is on your gross margin. So what I was trying to do is trying to gauge your unit economics versus peers. When I look at your gross margin, there was a change in definition where a part of your outsourced input expenses was — which is processing fees was put into your other expenses.
So if I just add it back to COGS, your gross margins would be around 66% to 67% mark. When I look at your other listed burger chain peer, we are also at a similar margin level and, which is to 67% like-for-like. And they are actually guiding 70% GM in a couple of years. So my question is, if in your case, in case of your gross margins, is such a expansion of 200, 300, 400 bps on current levels possible?
Does that even make sense? And what can drive such?
Saurabh Kalra
See, I will not speak about anybody else. For us, our long-term vision, we have given that Vision 2027 is where we stay committed to and there are multiple levers including gross margin to be able to expand. But on why somebody else has given what guidance, I have no idea and I would not like to comment on it. Yeah, I think profitability guidance has been clearly laid out there and that’s what’s more important to us in terms of giving clarity.
Operator
Thank you. The next question comes from the line of Jasdip from Clockwine Capital. Please go-ahead.
Jasdeep Walia
Hi, sir. Thanks for taking my question. Sir, what kind of inflation are you seeing on the store staff level in terms of their salaries. So every year there is minimum wages inflation, there is inflation, otherwise any increased rates. If they remain stable, they’re all part of the things which we did both in our P&L and our projection, it’s typically wage rate anywhere between 5% to 10% is what the increase happens year-on-year and that continues to be our plan even this year.
Got it, sir. So on account of high-demand of source on the delivery side, everybody is increasing their delivery fleets. Aren’t you seeing the impact of that on — on salaries of the store stuff? Aren’t they going by higher than going up by higher-than-usual?
Saurabh Kalra
No, I think that entire phenomenon has kind of stabled out or sorry, stabilized. And I think that again, we managed our labor very intelligently in terms of the value proposition we also bring for our employees where they don’t just look at it as a job, they look at it as a career.
So I think that obviously month-to-month and year-to-year, you will — sorry, not month-to-month, but year-to-year, you will obviously see minimum wage increase, but we keep it at the minimum and we keep optimizing our productivity levels as well. So taking all of this into account, I think that we managed our labor line-item very well.
Operator
Thank you. Ladies and gentlemen, if you wish to ask a question, please press star and one. The next question comes from the line of Jignanshu Gor from Bernstein. Please go-ahead.
Jignanshu Gor
Hi, congratulations for a steady set of numbers. I had two questions. One was on the broader store guidance for ’27. If we take the current starting position and sort of draw our run-rate, we will need to increase our run-rate of around net additions of 41, which we, for example, did this year to at least 50 plus over the next 11 odd quarters to meet guidance, the lower-end of the guidance. So I think the question is are we holding on to that number? Do we — or do we expect an acceleration coming in-store ads? I mean that’s the first question, yeah.
Saurabh Kalra
So we continue to hold-on to our guidance in terms of Vision 2027, which is 580 to 630 restaurants by 2027.
Jignanshu Gor
Okay, all right. Second question was, should the inventory levels for this year have increased on a per restaurant basis also compared to last year materially. Should we read anything into it or it is more a seasonality effect?
Saurabh Kalra
No, it’s a more of a seasonality — seasonality effect and there — there could be some strategic buying, etc., that would have happened. There is nothing out of normal in that per trend and it would average out over as we move ahead into the year.
Operator
Thank you. The next question comes from the line of Rishi Modi from Investment Managers. Please go-ahead.
Rishi Mody
Hi, guys. Am I audible?
Saurabh Kalra
Yes. I didn’t care.
Rishi Mody
Yeah. So my first question was on the stores that you mentioned, right, because stores like the Highway, which are kind of dragging down your average unit value. I’m just trying to understand how much productivity are they coming at versus, say, your older stores and how much time did it take to come to a similar sales per store as your current average cohort and how much of your sales is coming from such kind of stores? If you could just give me this kind of data..
Saurabh Kalra
So Rishi, I was wanting to give a flavor. That’s why I gave the example of those two stores. Normally, we don’t give any breakups. Obviously, we have stated in the past also that sometimes it takes two to three years typically for a store to become at a system-level. Some takes more, something less, but on an average two to three years would be a way to look at it.
And versus say two, three years back, what the proportion of these floors have increased in your mix, it’s been largely similar. I don’t think we have given this as a typical guidance in the last two, three years, two, three years back, we had talked about two, three years. I don’t think that has changed dramatically or it’s about the number of stores. I think we’ve opened significant amount of stores and we see them maturing quite well.
Rishi Mody
So thank you.
Operator
The next question comes from the line of Shivam Chomal, an investor. Please go-ahead.
Shivam Chomal
Hi. So basically our TTM revenues per restaurant are around INR6 crores. Now I just wanted to understand how much percent of this revenue comes from our CASA business and how much of that comes from the restaurant business so we don’t give the cafe breakup in general.
We have given the guidance in the past that around 12% to 15% of the sales comes from cafe. But I would not look at it that way. I think there is — there is — there is a restaurant business and then there is a delivery business, which is off-premise and on-premise for which we always give a breakup.
Akshay Jatia
I think that’s a better way to give talk about because there are occasions of off-premise which are very different to occasion which are on-premise. So I would encourage you to more look at it from that split.
Shivam Chomal
Understood. Thanks.
Operator
Thank you. The next question comes from the line of Gaurav Jogani from JM Financial. Please go-ahead.
Gaurav Jogani
Sir, just one question from my end. The other income this quarter around has moved up sharply. So anything to call-out there?
Saurabh Kalra
Gaurav, these are part of the annual reconciliations that you do. So even if you see in the base here also, there was there have been the other income. There is nothing out of that. This is part of the annual — as you close the books, there could be some reconciliations, etc., which would come as part of the book close. It is business-as-usual.
Shivam Chomal
Okay. Thank you. That’s all from.
Operator
Thank you. The next question comes from the line of Devanshu Bansal from Emkay Global. Please go-ahead
Devanshu Bansal
. Hi, thanks for the opportunity. Sir, optimize growth has been relatively muted even this is now going slower and beyond thing.
Operator
Your voice is, your voice is, you repeat your question please. Yes, is it better now?
Devanshu Bansal
Yeah. Is it better now?
Operator
Yes.
Devanshu Bansal
Optimized growth has been negatively muted vis-a-vis optimized sales also now. So however, for other QSRs, this channel is specifically growing much faster, right? So what are the steps that we are taking to improve growth in this channel specifically?
Saurabh Kalra
Yeah. So again, can’t comment on other competitors, but I think delivery has been growing along with off-premise quite know well in the past few years. Current year and quarter has been marginally down, but we remain our leaders in this category, whether it’s through our partnerships with the platforms or even our own channel in which we continue to invest.
So definitely, we plan to accelerate growth over here and we do feel that while it’s dropped, it’s still growing and will continue to grow.
Devanshu Bansal
Understood. And sir, specifically wanted to understand the operational cost, right? So you have covered it in earlier questions, but specific to Q3 and Q4, despite opening around 30 odd stores, the employee cost has been decreasing sequentially, right? So is there any significant change that we have affected from an employee cost perspective, but that’s all what I wanted to understand.
Saurabh Kalra
Yeah. So I think that a lot of the gains we are seeing is through productivity initiatives. Obviously, as we’ve been adding to the base in terms of number of stores, on a percentage basis, we expect it to remain similar, but because of productivity gains in terms of optimizing our labor, making our labor more efficient per guest count that we serve. We’ve made a lot of good progress through multiple initiatives that we’ve deployed. Thank you.
Operator
Thank you. We take the next question from the line of Rishi Modi from ACLS Investment Managers. Please go-ahead.
Rishi Mody
Yeah, hi, guys, am I audible?
Saurabh Kalra
Yeah, Rishi.
Rishi Mody
Yeah. So just following-up on the delivery piece, right? Just trying to understand what’s the challenge here because you heard also call-out their delivery slowdown.
Saurabh Kalra
So just trying to understand what’s the reason for you because they might get impacted due to other reasons which could be favourable to you. So I’m just trying to understand your reasoning for a relative slowdown in delivery space.
I think our business at a significant level was also dependent on 3PO. While we had our own channel, our business was relatively over-indexed towards both the operators of and that and we’ve seen some amount of the growth trajectory has reduced for sure in both the channels.
So we are also working now to see how do we also expand our channel to be able to compensate for it and continue to be a growth business. But in the 3PO, would you have gained market-share like despite the slowdown similar. That’s what we hear. That’s what we hear from both the three pier partners that we have gained market-share.
Weakness to say market-share includes the number of stores also which we have able to.
Rishi Mody
Okay, all right, thank you.
Operator
Thank you ladies and gentlemen, if you wish to ask a question please press star and 1 a reminder, ladies and gentlemen, if you wish to ask a question, please press star and 1 the next question comes from the line of Jagadish Sharma, an investor. Please go-ahead.
Jagadish Sharma
Hi,, thanks for giving me in this opportunity. Am I audible?
Akshay Jatia
At least know your voice is also forming
Jagadish Sharma
Now I’m audible
Saurabh Kalra
Yes, yes,
Jagadish Sharma
Okay. So when compared to other passport chains and everything, there is a slowdown in the burger areas, right? And we are expecting — we are seeing this for quite some time. Why do you think that, sir?
Saurabh Kalra
I would not look at it that way. I will look at it in a — in a different manner. I think the informal eat out has been under a lot of pressure, which once upon a time, we used to have a significant amount of growth. We have been flattish to negative in the last one month, two years. Now in that, a lot of things which we see happening is row side vendor and dining places and informal Indian fast-food also having a lot of pressure.
While Western fast-food is growing on the back of a lot of new-store addition, that’s what we see. Now Western fast-food includes a lot of our — a lot of us includes and other brands like that. So a lot of growth has come out of new-store addition and some brands do well, some brands don’t do well. It’s part of the game, that’s how the life is.
So I would not — is that growing or further growing. I do think there is a more structural issue, which is the informan eat-out has been under pressure. So that’s the headline. And then obviously, like I said, we are a habit in our and acceleration led business. So momentum — when the momentum comes, you will see the brand which has got momentum building faster?
Jagadish Sharma
The question — I’m continuing on the same question. Like will we be able to say 3% to 4% by this year, like will we be able to be on the track or path by this year itself because we are seeing some greenfields over, right? And also we have seen.
Akshay Jatia
Yes. So just to answer, as we did earlier, we can’t give forward-looking guidance, but we are very confident that we will maintain the trajectory required to deliver Vision 2027.
Operator
Thank you. We take the next question from the line of Amrutha from Wealth Managers India Private Limited. Please go-ahead.
Amrutha
Hi. Yes, thank you for this opportunity. So I’ve got two questions. First is regarding the need of.
Operator
Hello, there is background. There is background voice
Amrutha
Hello, yes, is my voice clear now?
Operator
Yes.
Amrutha
So I just have two questions. One is you just mentioned about the SSSG that has been like the adjustment for the impact, am I right? If you could just explain about how big will — what impact does it have?
And my second question was regarding the Korean minute. So if you could share more color on what kind of — like how was the response that we received for the range and do we intend to kind of make it a permanent addition to the menu? Thank you.
Saurabh Kalra
Yeah. So, a leap year essentially last year was a leap year as there were 29 days in February. Current year is a regular 28 day week, right? So that’s one day short in a quarter. One on out of 90 days is about rounded in grounding it up by rounding it up 1% that we are looking at as an impact on the growth numbers, both overall as well as SSG. So that answers your question on impact.
And Korean is a LTO. At this point in time, it continues to be a LTO, which is limited time offering in our menu. There is no plan per se to make it as a permanent offering in our menu.
Amrutha
Thank you.
Operator
Thank you. Ladies and gentlemen, if you wish to ask a question, please press star and one. As there are no further questions, I now hand the conference over to the management for their closing comments. Thank you.
Saurabh Kalra
Thank you so much, everyone, and we’ll see you again next quarter. Have a great day.
Akshay Jatia
Thank you. Have a great day.
Chintan Jajal
Thank you.
Operator
Thank you. On behalf of Westlife Food World Limited, that concludes this conference. Thank you for joining us and you may now disconnect your line.