Jubilant Foodworks Ltd., included within the yr 1995, is a Massive Cap firm (having a market cap of Rs 37188.88 Crore) working in Tourism & Hospitality sector.
Jubilant Foodworks Ltd. key Merchandise/Income Segments embrace Pizza, Others, Drinks, Desserts, Dips, Different Working Income and Others (Traded) for the yr ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2022, the corporate has reported a Consolidated Complete Earnings of Rs 1265.75 Crore, up 6.49 % from final quarter Complete Earnings of Rs 1188.61 Crore and up 40.43 % from final yr identical quarter Complete Earnings of Rs 901.35 Crore. Firm has reported internet revenue after tax of Rs 124.04 Crore in newest quarter.
Funding Rationale
Jubilant income was a slight miss, however the EBITDA margin got here in line. Income grew 10% on a three-year CAGR (HSIE 11%). Its like-for-like (LFL) development stood at +28% YoY (HSIE +40%), whereas the three-year CAGR was a mere 3%. In our understanding, quantity LFL three-year CAGR is down >2%. The brokerage believes that Q1 development was primarily led by excessive retailer additions prior to now few quarters. The corporate continued to develop, including 58 shops for Domino’s (reaching 349 cities, vs 337 in This fall). It fashions for 200 retailer additions in FY23 (steering is of 250) as gradual financial circumstances and prime degree transitions will restrict enlargement. The important thing spotlight of the quarter was sustaining the margin regardless of a number of headwinds, and each GM and EBITDA margin got here in line. With higher price management, it will increase FY23 EPS by 2%, whereas sustaining it for FY24/25. Its goal value is INR 500 (INR 470 for Domino’s at 45x P/E on Jun-24E EPS + INR 30 for different initiatives).
Promoter/FII Holdings
Promoters held 41.94 per cent stake within the firm as of 30-Jun-2022, whereas FIIs owned 29.8 per cent, DIIs 17.2 per cent.
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