Jubilant FoodWorks

₹482.5 -3.4 | 0.7%

WEBSITE BSE:533155 NSE : JUBL FOOD 09 Jun, 13:55

Market Cap ₹31838 Cr.

Stock P/E 90.2

P/B 15.6

Current Price ₹482.5

Book Value ₹ 30.9

Face Value 2

52W High ₹652.2

Dividend Yield 0.25%

52W Low ₹ 412.2

Edit Ratio

Jubilant FoodWorks Research see more...

Jubiliant Foodworks Limited

Jubilant Foodworks: The QSR Giant

Overview Inc. Year: 1995Industry: Consumer Food

Jubilant FoodWorks Ltd is an India-based food service organisation. The Company operates through its beverages and food segment. The Company is engaged in retail sales of food through home-grown and international brands addressing different food market segments. Its international brands include Dunkin’ Donuts, Popeyes and Domino’s Pizza. The Company has rights to open and operate Domino’s Pizza Restaurants in India, Bangladesh,Nepal and Srilanka. The Company directly operates Domino’s Pizza in India and through its subsidiaries in Sri Lanka and Bangladesh. Its home grown brands include ChefBoss, Ekdum and Hong’s Kitchen. Its Hong’s Kitchen is engaged in Chinese cuisine segment. Ekdum offers a range of biryanis curated from various parts of India using authentic ingredients along with a range of kebabs, curries, breads, desserts and beverages. The Company operates approximately 1,500 outlets for Domino's Pizza, Dunkin' Donuts and Hong's Kitchen.

Jubilant FoodWorks Share Price

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Peer Comparison

Jubilant FoodWorks Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	1069	1038	893	1116	1211	1176	1255	1301	1332	1270
Other Income	16	13	8	9	11	13	11	10	10	20
Total Income	1085	1051	901	1126	1222	1189	1266	1312	1341	1290
Total Expenditure	789	787	681	829	892	886	951	990	1045	1021
Operating Profit	296	263	220	297	330	302	315	322	296	269
Interest	41	38	42	42	45	46	47	50	52	53
Depreciation	90	88	91	93	103	106	107	115	133	132
Exceptional Income / Expenses	0	0	-6	-1	-0	-0	0	0	0	0
Profit Before Tax	165	138	81	161	182	150	161	158	112	84
Provision for Tax	41	33	21	41	46	38	37	43	31	25
Profit After Tax	124	105	61	120	136	112	124	115	80	60
Adjustments	0	0	9	0	-2	-16	-11	17	-0	-31
Profit After Adjustments	124	105	70	120	134	97	113	132	80	29
Adjusted Earnings Per Share	1.9	1.6	1.1	1.8	2	1.5	1.7	2	1.2	0.4

Jubilant FoodWorks Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	1019	1414	1736	2093	2438	2583	3018	3563	3927	3312	4396	5158
Other Income	6	8	9	8	12	15	23	47	70	73	41	51
Total Income	1025	1422	1746	2100	2450	2598	3041	3611	3997	3385	4437	5209
Total Expenditure	831	1173	1487	1838	2174	2342	2578	2963	3052	2541	3287	4007
Operating Profit	194	250	259	263	275	256	463	647	945	844	1150	1202
Interest	0	0	0	0	0	0	0	0	165	163	176	202
Depreciation	38	56	79	101	128	155	160	157	352	375	393	487
Exceptional Income / Expenses	-4	0	0	0	0	-12	0	0	-25	0	-7	0
Profit Before Tax	152	194	180	161	147	88	303	490	403	306	563	515
Provision for Tax	49	63	62	50	50	30	107	172	124	76	145	136
Profit After Tax	103	131	118	111	97	58	196	318	279	231	418	379
Adjustments	0	0	0	0	0	0	0	2	1	1	2	-25
Profit After Adjustments	103	131	118	111	97	58	196	320	280	232	420	354
Adjusted Earnings Per Share	1.6	2	1.8	1.7	1.5	0.9	3	4.8	4.2	3.5	6.4	5.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	33%	7%	11%	16%
Operating Profit CAGR	36%	21%	35%	19%
PAT CAGR	81%	10%	48%	15%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-8%	13%	12%	16%
ROE Average	25%	22%	24%	24%
ROCE Average	42%	42%	41%	38%

Jubilant FoodWorks Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	296	430	550	646	762	805	968	1260	1122	1427	1945
Minority's Interest	0	0	0	0	0	0	0	3	11	9	10
Borrowings	0	0	0	0	0	0	0	0	0	0	120
Other Non-Current Liabilities	13	26	46	71	73	70	55	50	1450	1386	1735
Total Current Liabilities	158	196	266	358	387	416	474	543	1373	1615	1818
Total Liabilities	467	652	862	1075	1222	1291	1497	1856	3955	4438	5628
Fixed Assets	254	395	546	737	828	800	789	809	2189	2145	2737
Other Non-Current Assets	69	84	128	149	168	251	202	235	908	1454	1969
Total Current Assets	143	172	188	188	225	239	505	812	859	838	922
Total Assets	467	652	862	1075	1222	1291	1497	1856	3955	4438	5628

Jubilant FoodWorks Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	9	11	30	24	39	33	34	79	28	196	56
Cash Flow from Operating Activities	167	209	225	276	212	204	409	424	728	751	930
Cash Flow from Investing Activities	-167	-191	-233	-262	-200	-188	-332	-457	-99	-602	-654
Cash Flow from Financing Activities	2	1	1	1	-18	-15	-35	-17	-461	-289	-307
Net Cash Inflow / Outflow	2	20	-6	15	-6	0	42	-51	168	-140	-31
Closing Cash & Cash Equivalent	11	30	24	39	33	34	76	28	196	56	25

Jubilant FoodWorks Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	1.59	2.01	1.81	1.69	1.47	0.88	2.97	4.85	4.24	3.51	6.37
CEPS(Rs)	2.17	2.86	3.01	3.24	3.42	3.23	5.4	7.21	9.56	9.18	12.29
DPS(Rs)	0	0	0	0.5	0.5	0.5	1	1	1.2	1.2	1.2
Book NAV/Share(Rs)	4.55	6.58	8.41	9.85	11.42	12.03	14.61	19.02	16.91	21.52	29.33
Core EBITDA Margin(%)	18.44	17.09	14.37	12.19	10.82	9.33	14.58	16.83	22.3	23.29	25.22
EBIT Margin(%)	14.93	13.71	10.38	7.72	6.03	3.42	10.04	13.74	14.46	14.16	16.82
Pre Tax Margin(%)	14.93	13.71	10.38	7.72	6.03	3.42	10.04	13.74	10.26	9.24	12.81
PAT Margin (%)	10.14	9.27	6.81	5.31	3.97	2.24	6.5	8.92	7.1	6.96	9.51
Cash Profit Margin (%)	13.84	13.2	11.34	10.14	9.23	8.25	11.81	13.34	16.07	18.3	18.45
ROA(%)	26.81	23.43	15.62	11.47	8.44	4.6	14.08	18.97	9.6	5.49	8.31
ROE(%)	42.36	36.11	24.14	18.57	13.87	7.48	22.34	28.66	23.51	18.18	24.92
ROCE(%)	62.38	53.42	36.79	27	20.88	11.26	34.19	43.97	47.7	36.79	42.35
Receivable days	1.89	1.87	1.8	1.82	1.82	2.02	1.92	2.21	2.05	1.84	1.61
Inventory Days	5.9	5.51	6	6.66	7.37	8.19	7.55	7.24	7.98	12.56	12.22
Payable days	130.51	119.44	123.28	143.87	169.39	176.54	167.55	166.8	161.05	246.28	197.26
PER(x)	73.6	61.93	59.03	87.29	86.48	126.26	78.24	59.55	69.3	165.94	82.73
Price/Book(x)	25.66	18.89	12.69	15.01	11.15	9.2	15.93	15.17	17.38	27.08	17.97
Dividend Yield(%)	0	0	0	0.17	0.2	0.23	0.21	0.35	0.41	0.21	0.23
EV/Net Sales(x)	7.45	5.71	4.01	4.61	3.42	2.81	5.04	5.21	4.77	11.44	7.81
EV/Core EBITDA(x)	39.14	32.39	26.86	36.78	30.32	28.37	32.87	28.66	19.83	44.9	29.85
Net Sales Growth(%)	50.22	38.81	22.77	20.53	16.5	5.96	16.84	18.05	10.22	-15.67	32.74
EBIT Growth(%)	64.44	27.5	-7.06	-10.41	-8.96	-39.96	243.33	61.58	16	-17.46	57.69
PAT Growth(%)	43.99	26.92	-9.81	-6.05	-12.78	-40.37	239.64	62.05	-12.32	-17.32	81.37
EPS Growth(%)	42.79	26.52	-10.02	-6.24	-13.07	-40.51	239.44	62.97	-12.45	-17.26	81.47
Debt/Equity(x)	0	0	0	0	0	0	0	0	0	0	0.06
Current Ratio(x)	0.91	0.88	0.71	0.53	0.58	0.58	1.07	1.49	0.63	0.52	0.51
Quick Ratio(x)	0.86	0.81	0.62	0.42	0.44	0.43	0.94	1.35	0.56	0.44	0.42
Interest Cover(x)	0	3054.29	0	0	0	0	0	0	3.44	2.88	4.2
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

Jubilant FoodWorks Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	41.94	41.94	41.94	41.94	41.94	41.94	41.94	41.94	41.94	41.94
FII	39.43	40.87	41.72	41.41	39.77	31.87	29.8	28.66	26.77	25.39
DII	13.07	11.68	10.76	11	11.5	15.72	17.34	19.94	20.89	21.85
Public	5.56	5.51	5.58	5.66	6.79	10.47	10.92	9.46	10.4	10.82
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	5.53	5.53	5.53	5.53	5.53	5.53	27.67	27.67	27.67	27.67
FII	5.2	5.39	5.51	5.46	5.25	4.21	19.66	18.91	17.67	16.75
DII	1.73	1.54	1.42	1.45	1.52	2.07	11.44	13.15	13.78	14.42
Public	0.73	0.73	0.74	0.75	0.9	1.38	7.21	6.24	6.86	7.14
Others	0	0	0	0	0	0	0	0	0	0
Total	13.2	13.2	13.2	13.2	13.2	13.2	65.98	65.98	65.98	65.98

Pros

Company has delivered good profit growth of 48% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 22%
Debtor days have improved from 246.28 to 197.26days.
Company is almost debt free.

Cons

Promoter holding is low: 41.94%.
Stock is trading at 15.6 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.