Jubilant FoodWorks Q4 Result - Missed Expectations, Q1 FY22 Resilient Despite Lockdown: Motilal Oswal
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
We cut our FY22E/FY23E earnings per share forecast of Jubilant FoodWorks Ltd. by 12.5%/5.2% on account of:
the company’s lower than expected Q4 FY21 result, and
the effect of the lockdown so far in Q1 FY22 due to the second Covid-19 wave.
The impact would have been more if not for the resilience shown in April-May 2021, as per the management commentary.
Continued strong growth in the delivery channel has meant that the severe impact on dine-in was mitigated to some extent at the broader level.
This led to ~90% recovery compared to the pre-Covid-19 run-rate in these two months.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.