Jubilant FoodWorks Secures Solid Growth with Strategic Acquisitions
Jubilant FoodWorks Secures Solid Growth with Strategic Acquisitions

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.

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