Jubilant FoodWorks Q1 Review - Aggressive Store Expansion Plans: Dolat Capital
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Dolat Capital Report
Jubilant FoodWorks Ltd.’s Q1 FY22 revenue, Ebitda and adjusted profit after tax was below our estimate – as recovery in dine in business during June was below our estimate.
The company has reported strong recovery in past four quarters with - down 20/down 1.7/up 11.8/114.2% same store sales growth in Q2/Q3/Q4/Q1 FY22.
During April/May 2021, the company reported 6/12% decline respectively versus FY20, was commendable considering nationwide lock down.
However, flat growth during June was below our estimate.
During the quarter Jubilant FoodWorks added 20 net new Domino’s stores and three new store under Ekdum, Hong’s Kitchen and Dunkin Donut brand.
Sri Lanka/Bangladesh businesses witnessed 55/111% sales growth.
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