The first quarter of FY25-26 has brought a strong yet mixed performance for Jubilant FoodWorks Limited (JFL). The company behind popular brands like Domino’s, Popeyes, Dunkin’, Hong’s Kitchen, and COFFY has reported double-digit growth in revenue and profits, but some margin pressures remain in focus. Let’s break down the financial highlights, positives, concerns, and shareholding trends for investors.
📊 Q1 FY25-26 Financial Highlights
- Consolidated Revenue: ₹22,609 million, up 17.0% YoY and 7.5% QoQ
- Standalone Revenue: ₹17,016 million, up 18.2% YoY
- PAT (Consolidated): ₹972 million, up 59.8% YoY
- EBITDA Margin (Pre-Ind AS 116): 12.9%, up 14 bps YoY
- EBITDA Margin (Reported): 19.4%, down 44 bps YoY
- EPS (Standalone): ₹1.01 vs ₹0.78 last year
- Total Stores: 3,387 globally, including 2,362 in India with 61 new Domino’s outlets added this quarter
🚀 Positives: What’s Driving the Growth
1. Robust Demand & Store Expansion
- Domino’s India revenue rose 17.7% YoY, with order growth up 17.3% YoY
- Delivery revenue surged 24.6% YoY, reflecting strong consumer appetite
- Store network grew with 61 new Domino’s stores across 9 new cities
2. Profit Growth & Operational Efficiency
- PAT jumped 59.8% YoY on the back of sales growth and cost optimization
- EBITDA margins (Pre-Ind AS 116) improved by 14 bps YoY
3. Digital & Loyalty Ecosystem
- Domino’s app users grew to 14.7 million, up 21.5% YoY
- Loyalty membership reached 37 million, ensuring repeat order momentum
⚠️ Concerns: Where Investors Should Stay Alert
- Gross Margin fell by 199 bps YoY due to higher raw material and delivery costs
- International markets like Turkey & Sri Lanka saw moderate growth amid macro challenges
- Operating expenses (employee & delivery costs) continue to rise, impacting profitability
📈 Promoter, FII & DII Shareholding Trends
While the official Q1 FY26 data wasn’t in the earnings report, based on Q4 FY25 filings:
- Promoter holding: Stable at 41.94%
- FII holding: Increased to ~33.5% from 32.8%
- DII holding: Rose to 17.2% from 16.6%
I can fetch the latest NSE/BSE shareholding pattern for Q1 FY26 if needed.
🧐 Investment Outlook
Bullish Triggers
- Strong revenue growth and order momentum
- Digital-first strategy boosting customer loyalty
- Aggressive store expansion in Tier-II & Tier-III markets
Bearish Triggers
- Margin pressure from raw material and delivery costs
- Currency headwinds in international markets
- Rising competition in the QSR sector
Verdict:
Despite near-term margin concerns, Jubilant FoodWorks remains a strong long-term play with digital transformation, store growth, and rising consumption trends supporting its growth story.
Indian Stock Results 