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Jubilant FoodWorks Q3 Results Review — Nirmal Bang Maintains 'Hold' On The Stock On Fair Valuations

While growth is better than peers’, the stock is now trading at fair valuations of ~37x FY26E Pre-Ind AS Ebitda, says Nirmal Bang.

<div class="paragraphs"><p>Jubilant FoodWorks Ltd. reported broadly in line set of numbers but profitability (especially gross margins) was impacted more than expected.</p><p>(Representative image. Photo source: Vijay Sartape/NDTV Profit)</p></div>
Jubilant FoodWorks Ltd. reported broadly in line set of numbers but profitability (especially gross margins) was impacted more than expected.

(Representative image. Photo source: Vijay Sartape/NDTV Profit)

While Jubilant FoodWorks has announced expansion plans for all key brands across geographies for FY25, granular details on Popeyes India business and DP Eurasia business are still not available, leading to a lack of clarity on the trajectory towards eventual profitability improvement.
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