Jubilant FoodWorks Q2 Review - Beat Estimates; Delivery, Takeaway Sustains Momentum: IDBI Capital
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IDBI Capital Report
Jubilant FoodWorks Ltd. has reported above expected result for Q2 FY22. Revenue growth was supported by sustained growth momentum in delivery and take-away channels (stood at 136-172% above pre-Covid-19).
Revenue from dine-in channel remained impacted and stood at 47% pre-Covid-19. Small cities outperformed metro and tier-I cities.
On store addition; ~16% stores added in small cities with three to four lakh population while bulk of store (46 out of 55) were added in existing geographies.
Jubilant FoodWorks aims to add 175 stores during FY22 (added; 75 stores in H1 FY22). Management expects inflationary headwinds to persist.
The company’s expansion in international market (Eurasia and Bangladesh) should be value accretive as it aims to leverage existing strength of Dominos India franchise.
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