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IDBI Capital Report
Jubilant Foodworks Ltd. has reported in-line result for Q4 FY22. Revenue growth at 13%YoY (10% three year compound annual growth rate) driven by 6% YoY like-for-like growth is healthy.
Revenue from dine-in was impacted in January 2022 due to Omicron but recovered strongly during February-March 2022.
Gross margins sustained at 77% plus levels (led by price hikes) despite input cost pressure. Record addition of highest-ever 80 Domino's Pizza stores and guidance to add 250 stores in FY23E is encouraging.
Positively, Jubilant FoodWorks added four stores in Popeyes during Q4 FY22 while guides for 250 stores in medium term. International business tracks well.
Appointment of the new Chief Executive Officer Mr. Sameer Khetarpal is positive given his back-ground in the business-to-consumer tech-sector.
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