Jubilant FoodWorks
Jubilant FoodWorks
Leisure Services F&OKey Fundamentals
SmallcapQuick Service RestaurantLeisure ServicesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 25.3%
Weaknesses
1- Stock is trading at 12.8 times its book value
Growth Rate
AI Analysis — Bull vs Bear
Jubilant Foodworks has a market capitalisation of about ₹31,706 crore. It trades at a P/E of 69.9x and a P/B of 13.73x, and its dividend yield is 0.25%. Sales have grown at a 23% CAGR over both 3 and 5 years, and TTM profit growth has picked up to 42%. However, 3-year profit CAGR is only 8%, and the stock has fallen 20% over 1 year and at a 10% annualised rate over 5 years. ROE has recovered to 21% last year, up from a 3-year average of 15%.
- Revenue has grown strongly and consistently: compounded sales growth is 23% over both 3 and 5 years, above the 10-year CAGR of 15%. This suggests store expansion and revenue growth have sped up in recent years.
- Profits are recovering: TTM profit growth of 42% is well above the 3-year profit CAGR of 8%. This points to a possible turn after a period of margin pressure.
- Return on equity has improved to 21% last year, up from a 3-year average of 15% and a 5-year average of 17%. It is now above the 10-year average of 19%.
- Long-term compounding: 10-year profit CAGR of 17% and 10-year stock CAGR of 18% show the business has created value over a full cycle.
- TTM sales growth of 16% alongside 42% TTM profit growth suggests operating leverage. Profits are growing faster than revenue, which may mean costs are being spread over a larger base.
- The company pays a steady dividend with a 25.3% payout ratio. It returns cash to shareholders while keeping about 75% of earnings for store expansion.
- The stock has fallen 20% over 1 year and at a 10% annualised rate over 5 years, so part of the earlier high valuation has already unwound, even though the P/E is still 69.9x.
- The valuation is high. A P/E of 69.9x implies an earnings yield of about 1.4%, so there is little room for error if the profit recovery stalls.
- The P/B is 13.73x (about 14x per the listed cons) on an implied book value of about ₹2,300 crore. That is a steep premium to net assets.
- Profit growth has lagged sales: 3-year profit CAGR of 8% against 23% sales CAGR points to significant margin compression, from cost inflation, lower store-level profitability, or expansion costs.
- Shareholder returns have been poor: the stock has fallen at a 10% annualised rate over 5 years, fallen 4% annualised over 3 years, and dropped 20% over the past year, despite 23% sales growth.
- ROE has been volatile. The 3-year average of 15% is well below the 10-year average of 19%, so the recent 21% may not hold if margins come under pressure again.
- Dividend yield is only 0.25%, which offers little income support or downside cushion at current valuations.
- TTM sales growth has slowed to 16%, below the 3- and 5-year CAGR of 23%. This may mean top-line momentum is easing as the business gets bigger.
- The data provided has no debt-to-equity figure. As a QSR operator with a large leased store network and overseas operations, lease liabilities and leverage are key risks that these metrics do not show.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Supply chain head exits Sep 15
EVP & Head of Integrated Supply Chain Virender Singh Sehrawat resigned for an external opportunity and leaves on November 13, 2026. This is the second senior exit in under a week, at a time when supply chain execution matters for margins.
- CIO Narottam Sharma resigns Sep 11
SVP & Chief Information Officer Narottam Sharma resigned for an external opportunity, and his last working day was moved up to September 14, 2026. Losing the tech head is a risk for a business that relies on digital and delivery platforms.
- ₹1.20 FY26 dividend paid Sep 11
The company started electronic payment of its FY26 final dividend of ₹1.20 per share, as approved at the AGM on August 27, 2026. Shareholder payouts are continuing as planned.
- Jefferies India Forum participation Sep 10
Key Managerial Personnel met institutional investors at the Jefferies 5th India Forum on September 16, 2026, in Gurugram. The format included group and one-on-one sessions, which keeps institutional investors engaged.
- Trading window shut for Q2FY27 Sep 25
The trading window for designated persons closes from October 1, 2026, ahead of Q2FY27 results. It stays shut until 48 hours after the results are announced.
- Dividend withheld for incomplete KYC Sep 24
The FY26 dividend of ₹1.20 per share is being held back for shareholders with incomplete KYC or bank details. They need to update their records to claim the unpaid amount.
TL;DR: Jubilant Foodworks is meeting its shareholder commitments: it paid the ₹1.20 FY26 dividend and kept talking to institutional investors at the Jefferies forum. The main concern is leadership churn. The CIO and the supply chain head both resigned within a week, which raises questions about how well the company can keep up its tech and operations. There was no operating news this month, so the trend is roughly flat, with a slight negative from the management exits. Q2FY27 results after October 1 will be the next key test, especially margins and any update on leadership.
Quarterly Results
| Particulars | 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
| Particulars | 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
| Particulars | 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
| Particulars | 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
| Particulars | 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% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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64 extracted metrics + investor summaries across FY10–FY27.
Documents
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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]
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