Jubilant FoodWorks - Demand Weakness Persists; Strengthening Core: HDFC Securities
Addressing portfolio whitespaces through menu interventions across price spectrum.
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HDFC Securities Institutional Equities
In the long term, Jubilant FoodWorks Ltd. remains focused on mid-teen revenue growth (5-6% like-for-like) on the back of -
stepping up store expansion and store format innovation (e.g. container stores);
plugging product gaps and strengthening value offering;
improving cost efficiency and productivity;
elevating customer experience (reimaging stores; 20 minutes delivery); and
longterm strategic initiatives (commissary).
We maintain our earnings per share estimates and value Jubilant at 55 times price/earning on Sep’25 EPS to arrive at a target price of Rs 500. Maintain 'Add'.
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