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Dolat Capital Report
During the quarter, Jubilant FoodWorks Ltd. delivered strong performance with 5.0% like-for-like growth, outperforming key competitors that reported mid-single-digit declines. The company plans to continue expanding across multiple brands, including Domino's, Popeyes, and Hong's Kitchen.
The acquisition of DP Eurasia is expected to further enhance profitability, with continued store additions in Turkey under the Domino's and COFFY brands.
With a diversified brand portfolio and growing geographic footprint, Jubilant FoodWorks' long-term growth outlook remains robust. In Q3, the company added 78 net new stores across its domestic brands.
As Q3 revenues were in line, Dolat Capital has maintained its revenue estimates for FY26/27/28E, but lowers Ebitda estimates to factor in the anticipated increase in operational expenses due to changes in labor code. Further, the brokerage have downward revised adjusted profit aftet tax estimates to factor in Q3 performance and higher interest and depreciation expenses.
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