Jubilant FoodWorks Posts Strong Q1 Results Amidst Strategic Expansion

Jubilant FoodWorks Limited has announced its financial results for the quarter ending June 30, 2024. 

Shyam S. Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman of Jubilant FoodWorks Limited, expressed satisfaction with the company's first-quarter results, highlighting broad-based growth across markets. The company crossed significant milestones, including operating over 3,000 stores at the Group level and surpassing 2,000 Domino’s stores in India. Growth in the Indian market was particularly strong, driven by a focus on value-for-money initiatives such as delivery fee waivers, along with continued network expansion. The company remains on track to become India's first foodservice company to cross $1 billion in group system sales.

Sameer Khetarpal, CEO and MD of Jubilant FoodWorks Limited, described the quarter as a "milestone" period for the company. The quarter was marked by growth across all business lines, store network expansion, and an improved margin trajectory. The company saw record-high monthly active users and the highest-ever rate of new customer acquisition, outperforming industry trends.

Revenue from Operations reached Rs 19,331 million, marking a 44.8 percent increase. Gross Profit rose by 38.8 percent to Rs. 14,034 million, with a gross margin of 72.6 percent. EBITDA increased by 38.9 percent to Rs 3,831 million, achieving an EBITDA margin of 19.8 percent. Profit After Tax (PAT) stood at Rs 608 million, with a PAT margin of 3.1 percent.

The India segment reported Revenue from Operations of Rs 14,396 million, a 9.9 percent growth primarily driven by an 8.5 percent increase in Domino’s India sales. Domino’s India saw a Like-for-Like (LFL) growth of 3.0 percent, with delivery LFL at 12.1 percent. The company added a net total of 52 stores across all brands in India during the quarter.

In the international markets of Turkey, Azerbaijan, and Georgia, Domino’s system sales totaled Rs 7,151 million, with Turkey seeing a 10.3 percent LFL growth. COFFY, another brand under the company’s portfolio, reported system sales of Rs 657 million and an LFL growth of 8.7 percent. The Revenue from Operations in these markets came in at Rs 4,614 million, with an EBITDA margin of 25.0 percent and a PAT margin of 9.2 percent. In Bangladesh, Domino’s reported a revenue of Rs 170 million, a 42.2 percent increase driven by network expansion, while in Sri Lanka, revenue rose by 17.0 percent to Rs 174 million. A total of 14 net stores were added across all international markets.

The quarter’s results underline Jubilant FoodWorks Limited’s robust growth strategy and its commitment to expanding its presence both in India and internationally. The company’s focus on value-driven initiatives, combined with strategic network expansion, continues to reinforce its leadership in the foodservice industry.