ECONOMY

Jubilant Foodworks Q1 Review – Capitalising On Opportunity, Accelerated Store Expansion: ICICI Securities

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Jubilant FoodWorks Ltd. likely surprised consensus by stepping-up its store expansion target (for Domino’s) to 150-175 for FY22.

Management’s confidence was reflected in the use of the words ‘hyper-growth’ (for Jubilant FoodWorks’ brands) and ‘inflection point’ (for the industry) on the call.

The intent and potential to leverage data analytics possibly gives a glimpse that the company can reposition as a food-tech platform (and not just a collection of few brands in silos).

Jubilant FoodWorks did manage operations in the second-wave well with Q1 FY22 revenue decline of just 6% over Q1 FY20 levels (includes (pricing) benefit from delivery charges, to be sure).

Performance of the delivery and takeaway channels have been impressive, mitigating the slowdown in dine-in.

Click on the attachment to read the full report:

ICICI Securities Jubilant Q1FY22 Results Update.pdf

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