Jubilant Foodworks Ltd
Jubilant Foodworks Ltd
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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44 extracted metrics + investor summaries across FY10–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 25.3%
Weaknesses
1- Stock is trading at 14.7 times its book value
Growth Rate
AI Analysis — Bull vs Bear
Jubilant Foodworks, the master franchisee for Domino's Pizza and Dunkin' in India, trades at a market cap of ₹31,402 Cr with a PE of 72x and P/B of 14x. The company has delivered strong TTM sales growth of 17% and profit growth of 108%, though the stock has declined 24% over the past year.
- TTM profit growth of 108% indicates a sharp recovery in earnings and improving operational leverage
- Compounded sales CAGR of 23% over both 3-year and 5-year periods demonstrates consistent top-line momentum
- ROE has improved to 21% in the last year from a 3-year average of 15%, showing rising capital efficiency
- 10-year compounded profit CAGR of 17% reflects a long track record of earnings compounding
- 10-year stock CAGR of 15% shows the company has generated meaningful long-term shareholder wealth
- Healthy dividend payout ratio of 25.3% signals management confidence in sustainable cash flows
- 10-year compounded sales CAGR of 15% demonstrates durable demand for its QSR brands across economic cycles
- PE ratio of 72x is significantly elevated relative to broader market averages and leaves little room for execution misses
- Stock is trading at 14x book value, implying extremely rich valuation relative to tangible assets
- Stock has declined 24% over the past 1 year, indicating sustained negative price momentum
- 5-year stock CAGR of -9% suggests investors have not been rewarded despite strong operational growth
- 3-year stock CAGR of 0% shows the market has not re-rated the company despite 23% sales CAGR over the same period
- Dividend yield of just 0.25% provides negligible income cushion for investors during periods of capital erosion
- 3-year compounded profit CAGR of only 8% versus 23% sales growth over the same period suggests margins were under pressure until recently
- 5-year compounded profit CAGR of 14% lags the 23% sales CAGR over the same period, indicating inconsistent margin expansion
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- PAT dips on higher depreciation Aug 14
PAT from continued operations fell 0.8% YoY in Q1FY27 despite 14.1% revenue growth, pressured by higher depreciation from new store infrastructure investments.
- Key leadership exits Jul 22
CIO Narottam Sharma resigned effective Jul 21, 2026 (last day Sep 18), and Company Secretary Mona Aggarwal will depart Nov 13, 2026, creating near-term leadership gaps.
- Revenue up 14% in Q1FY27 Aug 14
Consolidated revenue rose 14.1% YoY to ₹25,697 million in Q1FY27 with EBITDA growth of 14.2% and total consolidated PAT up 6.0% to ₹1,000 million aided by reduced Dunkin' losses.
- Popeyes surging 97% revenue growth Aug 14
Popeyes delivered 97% revenue surge in Q1FY27 and is expected to sustain 40-45% growth, well above normalization levels.
- 200 bps margin expansion target Aug 14
Management targets 5-7% annual growth and 200 bps EBITDA margin expansion driven equally by Domino's and emerging brands with focus on high-ROI store additions.
- Sri Lanka expansion step completed Jul 23
Completed LKR 666.9 million OCPS subscription in its Sri Lanka subsidiary, advancing South Asian expansion strategy.
- ₹1.20 per share dividend declared Jul 27
Board recommended ₹1.20 dividend per share for FY25-26, with record date tied to the Aug 27, 2026 AGM.
- ₹137 Cr block trade on BSE Jul 27
Approximately 32.08 lakh shares traded in a block deal at ₹427.05 per share totalling ₹137.01 crore, likely institutional rebalancing.
- AGM scheduled for Aug 27 Aug 1
31st AGM set for Aug 27, 2026 via video conferencing with remote e-voting from Aug 24-26. BRSR report for FY26 also filed.
- TDS rules for FY26 dividend Jul 20
TDS rates announced for the ₹1.20 per share dividend with document submission deadline of Aug 6, 2026.
TL;DR: Jubilant Foodworks is delivering solid top-line momentum with 14% revenue growth and a standout 97% Popeyes surge, while guiding for further margin expansion of 200 bps. Key risks include PAT pressure from depreciation on aggressive store buildouts and multiple senior leadership exits in recent weeks. The international expansion via Sri Lanka is progressing. Overall trend is improving on growth metrics, but investors should watch whether margin targets hold as infrastructure spending continues.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,335 | 1,369 | 1,378 | 1,574 | 1,933 | 1,955 | 2,151 | 2,095 | 2,261 | 2,340 | 2,429 | 2,499 | 2,570 |
| Expenses | 1,100 | 1,091 | 1,098 | 1,262 | 1,553 | 1,558 | 1,749 | 1,703 | 1,823 | 1,864 | 1,945 | 2,015 | 2,066 |
| Operating Profit | 235 | 277 | 280 | 311 | 380 | 396 | 402 | 392 | 438 | 476 | 484 | 485 | 504 |
| OPM % | 18% | 20% | 20% | 20% | 20% | 20% | 19% | 19% | 19% | 20% | 20% | 19% | 20% |
| Other Income | 9 | 42 | 20 | 196 | 14 | 25 | 6 | 5 | 19 | 102 | -18 | 13 | 20 |
| Interest | 54 | 57 | 62 | 114 | 134 | 138 | 133 | 116 | 111 | 106 | 103 | 117 | 120 |
| Depreciation | 136 | 142 | 152 | 169 | 184 | 201 | 208 | 210 | 220 | 230 | 247 | 269 | 255 |
| PBT | 54 | 121 | 86 | 224 | 77 | 82 | 67 | 71 | 126 | 242 | 116 | 111 | 148 |
| Tax % | 47% | 19% | 23% | 7% | 24% | 19% | 35% | 30% | 25% | 20% | 37% | 26% | 32% |
| Net Profit | 29 | 97 | 66 | 208 | 58 | 67 | 43 | 49 | 94 | 195 | 73 | 82 | 100 |
| EPS in Rs | 0.44 | 1.47 | 1 | 3.14 | 0.85 | 0.97 | 0.65 | 0.73 | 1.39 | 2.82 | 1.07 | 1.21 | 1.47 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,093 | 2,438 | 2,583 | 3,018 | 3,563 | 3,927 | 3,312 | 4,396 | 5,158 | 5,655 | 8,104 | 9,513 | 9,838 |
| Expenses | 1,836 | 2,173 | 2,339 | 2,576 | 2,961 | 3,045 | 2,532 | 3,290 | 4,022 | 4,496 | 6,511 | 7,610 | 7,890 |
| Operating Profit | 256 | 265 | 245 | 442 | 603 | 883 | 780 | 1,106 | 1,136 | 1,159 | 1,594 | 1,902 | 1,949 |
| OPM % | 12% | 11% | 9% | 15% | 17% | 22% | 24% | 25% | 22% | 20% | 20% | 20% | 20% |
| Other Income | 6 | 10 | -1 | 21 | 44 | 38 | 64 | 26 | 40 | 211 | 22 | 91 | 117 |
| Interest | 0 | 0 | 0 | 0 | 0 | 165 | 163 | 176 | 201 | 288 | 520 | 436 | 447 |
| Depreciation | 101 | 128 | 155 | 160 | 157 | 352 | 375 | 393 | 486 | 598 | 795 | 959 | 1,002 |
| PBT | 161 | 147 | 88 | 303 | 490 | 403 | 306 | 563 | 489 | 485 | 301 | 599 | 617 |
| Tax % | 31% | 34% | 35% | 35% | 35% | 31% | 25% | 26% | 28% | 18% | 28% | 26% | — |
| Net Profit | 111 | 97 | 58 | 196 | 318 | 279 | 231 | 418 | 353 | 400 | 217 | 444 | 450 |
| EPS in Rs | 1.69 | 1.47 | 0.88 | 2.97 | 4.85 | 4.24 | 3.51 | 6.37 | 5.35 | 6.05 | 3.19 | 6.49 | 6.57 |
| Div. Payout % | 15% | 17% | 29% | 17% | 21% | 28% | 34% | 19% | 22% | 20% | 38% | 18% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 66 | 66 | 66 | 66 | 132 | 132 | 132 | 132 | 132 | 132 | 132 | 132 |
| Reserves | 581 | 696 | 739 | 902 | 1,128 | 990 | 1,295 | 1,813 | 1,906 | 2,039 | 1,971 | 2,160 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 1,670 | 1,620 | 2,106 | 2,554 | 4,207 | 4,372 | 4,902 |
| Other Liabilities | 429 | 460 | 485 | 529 | 596 | 578 | 720 | 731 | 791 | 1,660 | 1,929 | 2,172 |
| Total Liabilities | 1,075 | 1,222 | 1,291 | 1,497 | 1,856 | 3,370 | 3,767 | 4,782 | 5,382 | 8,038 | 8,404 | 9,367 |
| Fixed Assets | 737 | 828 | 800 | 789 | 809 | 2,189 | 2,146 | 2,737 | 3,488 | 6,184 | 6,434 | 7,353 |
| CWIP | 20 | 26 | 61 | 14 | 16 | 41 | 29 | 47 | 184 | 118 | 255 | 160 |
| Investments | 75 | 91 | 94 | 263 | 181 | 51 | 517 | 927 | 822 | 308 | 176 | 199 |
| Other Assets | 243 | 277 | 336 | 430 | 850 | 1,089 | 1,076 | 1,072 | 888 | 1,428 | 1,538 | 1,654 |
| Total Assets | 1,075 | 1,222 | 1,291 | 1,497 | 1,856 | 3,370 | 3,767 | 4,782 | 5,382 | 8,038 | 8,404 | 9,367 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 276 | 212 | 204 | 409 | 424 | 728 | 751 | 930 | 1,026 | 1,010 | 1,658 | 1,894 |
| Investing | -262 | -200 | -188 | -332 | -457 | -99 | -602 | -654 | -595 | -1,285 | -850 | -1,084 |
| Financing | 1 | -18 | -15 | -35 | -17 | -461 | -289 | -307 | -426 | 377 | -839 | -780 |
| Net Cash Flow | 15 | -6 | 0 | 42 | -51 | 168 | -140 | -31 | 5 | 102 | -32 | 29 |
| Free Cash Flow | -10 | -15 | 4 | 293 | 258 | 439 | 533 | 474 | 188 | 162 | 787 | 889 |
| CFO/OP | 121 | 94 | 98 | 121 | 100 | 98 | 107 | 97 | 101 | 95 | 110 | 107 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 2 | 17 | 15 | 14 |
| Inventory Days | 30 | 35 | 35 | 31 | 32 | 35 | 67 | 59 | 52 | 112 | 66 | 42 |
| Days Payable | 168 | 186 | 182 | 185 | 173 | 166 | 268 | 198 | 164 | 215 | 146 | 139 |
| Cash Conversion Cycle | -136 | -150 | -144 | -153 | -139 | -129 | -199 | -137 | -110 | -86 | -65 | -84 |
| Working Capital Days | -49 | -43 | -43 | -44 | -42 | -52 | -71 | -55 | -51 | -66 | -52 | -99 |
| ROCE % | 27% | 21% | 13% | 34% | 44% | 30% | 16% | 21% | 16% | 11% | 13% | 15% |
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Company Information
Jubilant FoodWorks Limited (JFL/Company) is part of the Jubilant Bhartia Group and is one of the India’s largest food service Company. The Company holds the master franchise rights for two international brands, Domino’s Pizza and Popeyes in its food segment. The Company also launched its first homegrown brand – Hong’s Kitchen in Chinese cuisine segment. [1]