Jubilant FoodWorks Q3 PAT up 10% YoY; board OKs stock split

2 Feb 2022 , 02:42 PM

EBITDA in Q3 FY22 was Rs 3,174 crore, up by 13.9% from Rs 2,786 crore in Q3 FY21. EBITDA margin was 26.6% in Q3 FY22 as against 26.4% in Q3 FY21.

Dominos Like-for-Like (LFL) sales growth stood at 7.5% in Q3 FY22 as compared to a negative 0.2% in Q3 FY21. LFL sales growth refers to the year-over-year growth in sales for non-split restaurants opened before previous financial year.

The quarter also saw record new store openings with a landmark 75 new Dominos stores being opened. The company forayed into 17 new cities during the quarter, it now reaches a total of 322 cities across India. The company has also recently announced that it has hit the milestone of 1,500 Dominos stores in India and is confident of continuing its network expansion in the period ahead. The company opened 1 new restaurant each for Dunkin and Hongs Kitchen during the quarter.

The company recently opened its first two Popeyes restaurants in Bengaluru, with one more scheduled to open shortly. The early customer response and feedback has been extremely encouraging. Chicken is one of the largest and fastest growing categories in India and is expected to grow rapidly in years to come. Popeyes is expected to become one of the key drivers of profitable growth for the company in the coming years.

The board of directors has approved and recommended for approval of shareholders, the sub-division of equity shares from face value of Rs 10 each to face value of Rs 2 each.

Shyam S. Bhartia, chairman and Hari S. Bhartia, co-chairman, Jubilant Foodworks, said, ?We have delivered a strong, all-round Q3FY22 performance, along with a record expansion of the Dominos store network. The company continues to create benchmarks, surpass key milestones and we remain excited with the growth opportunity that lies ahead.?

Pratik Pota, CEO and wholetime director, Jubilant Foodworks, said, ?We are proud of our strong performance in Q3FY22. We delivered healthy revenue growth and strong profitability in the face of COVID induced restrictions and significant inflationary headwinds, while accelerating our network expansion.

We made some important strategic investments during the quarter. The recent launch of Popeyes and our surpassing of 1500th Dominos stores milestone in India underscores our confidence as we stay focused on driving sustainable, profitable growth in the business.?

Jubilant Foodworks is a foodservice company. It holds the exclusive master franchise rights from Dominos Pizza Inc. to develop and operate the Dominos Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. JFL also enjoys exclusive rights to develop and operate Dunkin restaurants in India and Popeyes restaurants in India, Bangladesh, Nepal and Bhutan. In 2019, JFL launched its first owned-restaurant brand Hongs Kitchen in the Chinese cuisine segment. In 2020, it launched Ekdum! another new owned-restaurant brand which serves Biryani category. The company has recently forayed into the ready-to-cook segment with its ChefBoss range of sauces, gravies and pastes.

The scrip fell 1.63% to currently trade at Rs 3384.05 on the BSE.

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