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Jubilant Foodworks Limited reports Q2FY22 earnings

Posted On: 2021-10-21 16:53:30 (Time Zone: IST)

Jubilant Foodworks Limited, India's largest Foodservice company, has announced results for the quarter ended 30th September, 2021.

Revenue from Operations came in at Rs. 11,007 million, an increase of 36.6% vs. last year. As compared to the pre-Covid period of Q2FY20, Domino's system sales grew by 11.6%. This was driven by continued strong momentum in Delivery and Takeaway channels as they grew by 36.8% and 72.2% vs. Q2FY20 respectively.

Q2FY22 EBITDA was Rs. 2,860 million, higher by 33.2% vs. last year with EBITDA margin being 26.0%. Profit After Tax was Rs. 1,215 million, higher by 58.0%, and Profit margin was 11.0%.

Q2FY22 also saw a record number of new stores, with 60 new stores opened during the quarter - 55 stores of Domino's, 2 stores each for Dunkin' and Hong's Kitchen and 1 store of Ekdum!.

The focus on Digital continued with 7.2 million App downloads during the quarter. There were several UI improvements and changes introduced on the App which helped improve the overall customer experience.

Sri Lanka and Bangladesh registered a system sales growth of 88.4% and 33.2% vs. last year respectively. Notably, in Sri Lanka, the Company achieved record sales in the quarter and also opened 3 new Domino's stores taking the store count to 31.

The Company also announced key strategic investments in line with its stated goal of building a multi-brand and multicountry food business powered by technology. A Reverse Bookbuild process was launched to enhance the Company's indirect shareholding in DP Eurasia N.V., the fifth largest master franchisee of Domino's Pizza. Additionally, JFL also initiated the process of enhancing its shareholding in Jubilant Golden Harvest Limited, Bangladesh to 90%, to strengthen its presence in the fast-growing and critical market of Bangladesh.

Commenting on the performance for Q2 FY22, Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant Foodworks Limited said, "Q2 FY22 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 multibrand, multi-country business driven by technology and will create significant value for all stakeholders."

Commenting on the performance for Q2 FY22, Mr. Pratik Pota, CEO and Wholetime Director, Jubilant Foodworks Limited said, "We are pleased with our strong performance in Q2 FY22. 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."

Shares of Jubilant Foodworks Limited was last trading in BSE at Rs. 3965.15 as compared to the previous close of Rs. 4334.60. The total number of shares traded during the day was 231360 in over 26314 trades.

The stock hit an intraday high of Rs. 4340.00 and intraday low of 3901.15. The net turnover during the day was Rs. 970494517.00.

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