Correspondent, IndianRetailer.com & Retailer Media May 23, 2024/
Jubilant FoodWorks Limited, a major player in the emerging markets' food service sector, has announced its financial results for the fiscal year and quarter ending March 31, 2024.
Shyam S. Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited, noted, “FY'24 marked a significant shift as the acquisition of DP Eurasia enhances the profitable growth trajectory of the JFL Group. This acquisition further cements JFL's partnership with Domino's, the world's largest pizza company, to profitably grow in high-potential emerging markets. The Group also made significant strides during the year in supporting and nurturing new growth vectors, solidifying its position as a leading emerging markets’ foodservice company.”
Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited, commented, “The March quarter performance was remarkable as Domino's India's like-for-like trajectory turned around in Q4. This was achieved through several strategic interventions, including strengthened regional infrastructure, enhanced on-ground execution, a comprehensive brand revamp, and refining the value proposition with targeted delivery fee waivers during a period of weak demand. Moreover, the year saw substantial progress across every strategic priority, with increased business reinvestments that weigh on near-term margins but will be crucial to driving future growth across all brands and markets.”
The company's Revenue from Operations increased by 9.6 percent to Rs 56,541 million. The JFL Group network now includes 2,991 stores with a record 356 net new stores opened in the year. Gross Profit rose by 10.3 percent to Rs 43,130 million, with a gross margin of 76.3 percent. Operational EBITDA was Rs. 11,435 million, with an EBITDA margin of 20.2 percent. Profit after tax stood at Rs 4,008 million, with a PAT margin of 7.1 percent.
The Board of Directors has recommended a dividend of Rs 1.2 per equity share of face value of Rs. 2 each for the financial year ended March 31, 2024, amounting to Rs 792 million, pending shareholder approval at the Annual General Meeting.
For the quarter, Revenue from Operations rose by 23.9 percent to Rs 15,728 million. Gross Profit increased by 26.4 percent to Rs 12,055 million, with a gross margin of 76.6 percent. Operational EBITDA was Rs 3,103 million, with an EBITDA margin of 19.7 percent. Profit After Tax for the quarter was Rs 2,089 million, with a PAT margin of 13.3 percent.
Revenue from Operations in India grew by 6.3 percent to Rs 13,313 million, driven primarily by a 4.9 percent growth in Domino’s India. Domino’s like-for-like sales (LFL) growth was 0.1 percent, while Domino’s Delivery LFL was 7.8 percent. New brands contributed 1.4 percent to overall growth, with a total of 89 stores added across all brands in India.
Internationally, Revenue from Operations was Rs 2,427 million, driven primarily by a two-month revenue contribution of Rs 2,174 million from Turkey, Azerbaijan, and Georgia. Revenue from Domino’s Bangladesh grew by 52.1 percent to Rs 134 million, due to accelerated network expansion. Revenue from Domino’s Sri Lanka increased by 4.1 percent to Rs 119 million. A total of 23 stores were added across all international markets.
Indian quick-service restaurant operator Jubilant Food Ltd (JFL) has signed a memorandum of understanding (MoU) with Coca-Cola to purchase and market sparkling beverages and other products.
This move signals a change in JFL's beverage partnership strategy, as the company had been associated with PepsiCo since 2018 to supply beverages across its restaurant chains, including Domino's Pizza. The decision comes shortly after Jubilant Bhartia Group, JFL's parent company, acquired a 40 percent stake in Hindustan Coca-Cola Beverages, Coca-Cola’s bottling arm in India, in a deal valued at approximately Rs 10,000 crore.
As per the regulatory filing, the MoU sets out the principal terms for JFL to purchase Coca-Cola’s beverage portfolio from its authorized bottlers while also engaging in marketing activities for the brand.
JFL operates 3,130 stores across six markets, including India, Turkey, Bangladesh, Sri Lanka, Azerbaijan, and Georgia. The company manages a diverse portfolio of brands, including Domino’s Pizza, Popeyes, and Dunkin’. It has also developed its own brands, such as Hong's Kitchen, an Indo-Chinese QSR brand in India, and COFFY, a café brand in Turkey.
This new partnership with Coca-Cola marks a strategic step for JFL as it continues to expand its beverage offerings across its global restaurant network.
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.
Jubilant Foodworks Ltd (JFL), the company behind popular fast-food brands Domino's Pizza and Dunkin' Donuts, disclosed a consolidated net profit decrease of 18.23%, amounting to Rs 65.70 crore in the December quarter.
In the corresponding period of the previous year, Jubilant Foodworks Ltd (JFL) recorded a consolidated net profit of Rs 80.36 crore, as stated in a regulatory filing.
Nevertheless, the company reported a 3.47% rise in revenue from operations for the quarter, reaching Rs 1,378.11 crore, compared to Rs 1,331.81 crore in the corresponding period of the previous year.
The increase was propelled by a 6.2% rise in sales through Domino's Delivery channel. The average daily sales for mature Domino's stores amounted to Rs 80,111," stated JFL in its earnings report.
JFL recorded total expenses of Rs 1,311.94 crore in the December quarter, reflecting a 6.68% increase.
In the December quarter, the total revenue of JFL, the largest food service company in India, increased by 2.71% to reach Rs 1,382.27 crore.
In the quarter, JFL expanded its presence in India by inaugurating 58 new stores, bringing the total count across all brands to 2,007.
The company launched 40 additional outlets for its primary quick-service restaurant (QSR) brand, Domino's, marking entry into 10 new cities. According to JFL's earnings statement, this expansion increased the Domino's network to 1,928 stores spanning 407 cities.
JFL accelerated the expansion of the U.S.-based fried chicken brand Popeye by inaugurating 10 new restaurants, bringing the total network count to 32 establishments.
JFL expanded its Quick Service Restaurant (QSR) brands Hong's Kitchen and Dunkin' by launching four new restaurants each, bringing their cumulative counts to 22 and 25, respectively.
"Sustained delivery growth, highest ticket in nine quarters without a price increase in the last six quarters, adept cost optimisation making way for investments behind category development, and the accelerated expansion of Popeyes as an additional growth driver were the distinctive highlights from our quarter." said JFL Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia.
On Wednesday, shares of Jubilant Foodworks concluded at Rs 519.60 on the BSE, reflecting a 1.82% increase.
Ashish Goenka, the President, Chief Financial Officer (CFO) and a key managerial figure at Jubilant Foodworks resigned from the company.
The regulatory filing from the company mentioned that Ashish Goenka's final day serving as the CFO and KMP of Jubilant Foodworks would be on December 15, 2023.
"In my resignation letter, I am formally stepping down from the roles of President & CFO and as a Key Managerial Personnel at Jubilant FoodWorks Limited. I've chosen to pursue an external opportunity. I'm asking for my release from duties effective at the end of business hours on December 15, 2023," Goenka expressed in his letter.
He expressed gratitude to the Board of Directors, acknowledging, "I appreciate the trust placed in me and the consistent support extended during my time here."
Jubilant FoodWorks Limited is a significant player in India's foodservice industry is a part of the Jubilant Bhartia Group. Company is established in 1995 and possesses exclusive master franchise rights from Domino’s Pizza Inc. This allows them to oversee the growth and operations of the Domino’s Pizza brand across India, Sri Lanka, Bangladesh, and Nepal.
Jubilant FoodWorks Limited, India’s largest foodservice company, today announced its financial results for the quarter ended June 30, 2023.
Revenue from Operations of Rs. 13,097 million increased 5.6% versus the prior year. The growth was driven by Domino’s Delivery channel sales which increased by 8.4%. The ADS of mature stores, came in at Rs. 81,049, up by 2.7% sequentially. The Domino’s LFL came in at -1.3%.
In a challenging inflationary environment with key input costs holding firm, the company was able to expand its operating margins sequentially on account of higher productivity led-cost optimization initiatives. EBITDA came in at Rs. 2,764 million and EBITDA margin was 21.1%, higher by 97 bps sequentially. Profit After Tax came in at Rs. 752 million and PAT margin was 5.7%, higher by 195 bps sequentially.
Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited commented, “Our performance reflects our continuation of the strategic direction we have opted for in the current inflationary environment. We continue to bolster our value proposition further, look inwards to improvise our systems and processes while expanding margins and finally continue to make investments further to strengthen our unique competitive advantages in operations and technology.”
The Company opened 30 new stores in India, resulting in a network of 1,891 stores across all brands. With the addition of 23 new stores and entry in one new city.
Domino’s India expanded its network strength to 1,838 stores across 394 cities.
The Company opened four new restaurant for Popeyes and entered two new cities – Manipal and Coimbatore - taking the network tally to 17 restaurants across four cities.
In Hong’s Kitchen, two new stores enhanced the network to 15 stores across three cities. In Dunkin’, one new coffee-first store was opened. 9 out of 21 Dunkin’ stores are now as per the brand’s new Coffee-first identity.
The enrolment to loyalty program – Domino’s Cheesy Rewards – grew by 23.5% versus the prior quarter to 16.8 million and the loyalty order contribution reached 48% in June 2023. Consumer engagement remain elevated with all time-high quarterly app downloads at 10.0 million, up by 22.0% and MAU(App) came in at 10.3 million.
In Sri Lanka, the system sales growth was 13.1% and the Company opened two new stores taking the network strength to 50 stores.
“Our strategy of customer first and technology forward has started to yield positive results. ADS for mature stores grew by 2.7% sequentially, decline in ticket size was arrested, app-installs, loyalty enrolments reached a new peak, and we executed efficiently to expand EBITDA margin by 97 bps versus the previous quarter. I remain confident in our strategies and the organization's ability to overcome the slower growth phase and emerge stronger out of it,” added Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited.
Incorporated in 1995, Jubilant holds the exclusive master franchise rights from Domino’s Pizza Inc. to develop and operate the Domino’s Pizza brand in India, Sri Lanka, Bangladesh and Nepal, Dunkin’ restaurants in India and Popeyes restaurants in India, Bangladesh, Nepal and Bhutan. In 2019, Jubilant FoodWorks launched its first owned-restaurant brand ‘Hong’s Kitchen’ in the Chinese cuisine segment which now has 15 stores across three cities.
Jubilant FoodWorks, the company responsible for operating Domino's Pizza in India, intends to allocate Rs 750 crore for capital expenditure during the current fiscal year.
The funds will primarily be used to establish approximately 220 new outlets and support other expansion initiatives.
Sameer Khetarpal, the Managing Director and CEO of Jubilant FoodWorks, revealed that the company aims to introduce 30 to 35 additional Popeyes restaurants in the ongoing financial year, increasing the total store count to 50.
Presently, the company operates 18 Popeyes outlets.
According to a statement given to PTI, Jubilant FoodWorks plans to invest approximately Rs 200 to Rs 250 crore in constructing new factories and Rs 500 crore in store expansion annually.
This translates to a total capital expenditure ranging from Rs 700 crore to Rs 750 crore per year. In the current year, the company aims to open around 200 to 220 Domino's outlets and 32 to 35 Popeyes restaurants.
Jubilant FoodWorks possesses the sole master franchise rights granted by Domino's Pizza Inc.
Jubilant FoodWorks has been authorized to develop and manage the Domino's Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. However, the company has yet to commence operations in Nepal.
Presently, Jubilant FoodWorks operates a vast network of more than 1800 Domino's restaurants spanning across 393 cities.
Sameer Khetarpal emphasized that the company solely owns all of these stores and has no intentions of pursuing any alternative models.
He explained that the company's decision to own and operate the stores at the company level is driven by the fact that it generates a significant return on capital and delivers excellent returns to its shareholders.
In the fiscal year 2023, Jubilant FoodWorks reported revenues from operations amounting to Rs 5,096 crore, along with a net profit of approximately Rs 403 crore.
Owners of Dominos Pizza and Dunkin Donuts in India, Jubilant FoodWorks (JFL), on Friday said its board will next month consider a proposal of splitting the equity shares of the firm.
The board, in its scheduled meeting to be held on February 2, 2022, will consider a proposal for "alteration in the capital of the company by sub-division/ split of existing equity shares of the company having face value of Rs 10 each, fully paid up."
Shares of the company closed 0.35 per cent down at Rs 3,931.80 on BSE on Friday.
The board would also consider the standalone and consolidated financial results of the company for the quarter ended December 31, 2021, JFL said in a regulatory filing.
JFL, part of the Jubilant Bhartia Group, is India's largest food service company that currently operates more than 1,435 outlets for Domino's Pizza, Dunkin Donuts and Hong’s Kitchen.
It also has franchise rights for Popeyes, an American multinational chain of fried chicken fast-food restaurants, for India, Bangladesh, Nepal and Bhutan markets.
Operators of Domino’s Pizza and Dunkin Donuts in India, Jubilant Foodworks Ltd on Wednesday reported 58.11 per cent jump in consolidated net profit at Rs 119.82 crore for the second quarter ended September 30, 2021.
The food delivery brand shared that delivery and takeaway channels are one of the greatest contributors in the growth.
Jubilant logged a profit of Rs 75.78 crore in the year-ago period, it said in the regulatory filing.
Revenue from operations in the second quarter stood at Rs 1,116.19 crore as compared to Rs 816.33 crore in the same period a year ago.
“ The second quarter saw a strong all-round performance with revenue, profitability and store growth numbers hitting record highs.The new investments announced during the quarter will help steer the company towards its goal of becoming a multi-brand, multi-country business driven by technology and will create significant value for all stakeholders,” shared Shyam S Bhartia and Co-Chairman Hari S Bhartia in a joint statement.
During the quarter, JFL had announced key strategic investments in line with its stated goal of building a multi-brand and multi-country food business powered by technology. These included launching a reverse bookbuild process to enhance the company’s indirect shareholding in the Netherlands-based DP Eurasia N V, the fifth largest master franchisee of Domino’s Pizza, the company said.
Total expenses in the second quarter of this fiscal year were higher at Rs 963.47 crore as compared to Rs 747.01 crore in the year-ago period.
“Notwithstanding the operating challenges and inflationary headwinds, we delivered a robust topline growth, strong EBITDA margins and record new store openings. We are excited about the future and believe that we have the right strategy to lead growth in the exciting period that lies ahead,” added Pratik Pota, CEO, Jubilant FoodWorks.
Operators of Domino’s Pizza and Dunkin Donuts in India, Jubilant Foodworks Ltd (JFL), has acquired 25 per cent stake in Yuvraj Singh invested nutrition company Wellversed Health.
The Gurugram-based company provides healthier and nutritious food options including vegan, keto, low GI, low carbs and high protein options to name a few.
As per the regulatory filing, Jubilant Foodworks would invest Rs 10 crore in Wellversed in two tranches.
The first tranche of Rs 6.5 crore would be invested on the closing date as defined in the share subscription agreement and the second one of Rs 3.5 crore would be done nine months from the disbursement of the first tranche.
“This will be an investment by the company in Wellversed – a nutrition company offering a variety of food products tailored for specific nutrition and dietary needs including keto, gluten-free, vegan, high-protein, diabetic and immunity,” shared JFL.
Net revenue of Wellversed in 2019-20 was Rs 4.89 crore.
Jubilant FoodWorks Limited has announced its entry into the biryani segment
Called as ‘Ekdum’, the brand is opening three restaurants in Gurgaon for delivery, takeaway and dine-in.
They are also aiming at opening more restaurants across Delhi-NCR in the next few months.
Also Read: Jubilant FoodWorks plans kiosk-based model for Dunkin' Donuts
“Ekdum will offer the widest variety of biryanis from across India to choose from. The chefs at Ekdum have brought together a selection of twenty different biryanis curated from various parts of India using authentic ingredients that bring out the unique flavours and signature tastes associated with the region,” shared the release.
In addition to biryanis, it will also offer kebabs, curries, breads, desserts and beverages starting at ₹99.
You can also place order via an app, a mobile and desktop website.
The owner of Domino’s Pizza and Dunkin’ Chain also entered into the casual Chinese category last year.
May Interest: Jubilant Launches Chinese Restaurant 'Hong’s Kitchen’
"In line with our strategy of portfolio expansion, we are delighted to introduce Ekdum!,our new venture in the Biryani category. We see strong potential in this segment and are confident that Ekdum!, with its sharp and differentiated proposition will create a strong position for itself in the market," said Shyam S Bhartia, Chairman, and Hari S. Bhartia, Co-chairman, Jubilant FoodWorks Limited in a media release.
Jubilant runs 1,264 Domino’s Pizza restaurants across 281 cities with exclusive rights to develop and operate the pizza chain in India, Sri Lanka, Bangladesh and Nepal. It also operate 26 Dunkin’ Donuts restaurants in eight Indian cities.
21 July, 2017 will be the last working day of Sachin Sharma, President and key managerial personnel of the company has resigned from the services of the company, Jubilant said.
NEW DELHI: Jubilant FoodWorks, which operates Domino's Pizza and Dunkin' Donuts chains across India, today said its President and CFO Sachin Sharma has resigned.
"21 July, 2017 will be the last working day of Sachin Sharma, President and key managerial personnel of the company has resigned from the services of the company," Jubilant FoodWorks said in a BSE filing.
"The board will appoint his successor in due course," it added.
Sharma was appointed as the chief financial officer (CFO) and key managerial personnel in September last year.
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