Jubilant FoodWorks shares surged 5% to a new high of Rs 3,331.85 on the BSE intraday as the firm announced a more than three-fold increase in its consolidated net profit of Rs 105.30 crore for the fourth quarter ended March 2021. (Q4FY21). In the previous quarter, it made a profit of Rs 32.53 crore.
Jubilant FoodWorks is the parent company of the fast-food restaurants Domino’s Pizza and Dunkin’ Donuts. For the fiscal year 2020-21, the board has proposed a final dividend of Rs 6 per equity share, or 60% of the face value of Rs 10 per share.
The stock outperformed its previous high of Rs 3,250.15 set on June 11, 2021. In the last month, it has outpaced the market by over 20%, compared to an 8% rise in the S&P BSE Sensex.
During Q4FY21, the company’s revenue from operations increased 14.2 percent year on year (YoY) to Rs 1,038 crore. In the comparable quarter of fiscal year 2019-20, the amount was Rs 909 crore. “This was driven by Domino’s Like-for-Like (LFL) sales growth (adjusted for temporary restaurant closures) of 15.1 per cent and same-store growth (SSG) of 11.8 per cent. Domino’s witnessed continued momentum in delivery and takeaway channels which grew by 28.7 per cent and 76.9 per cent, respectively,” they said.
The EBITDA margin (earnings before interest, taxes, depreciation, and amortisation) increased by 540 basis points year on year to 24.3 percent.
Despite low dine-in, the firm saw a 90 percent rebound in both April and May compared to pre-COVID levels. Cheese and edible oil prices are rising, but management does not expect cost cuts to have a major impact on profitability.
Motilal Oswal Securities reduced their EPS estimates for FY22E and FY23E by 12.5 percent and 5.2 percent, respectively, due to the lockdowns caused by the second COVID wave, which impacted the dine-in business. Nonetheless, the trading firm highlighted that the company continues to demonstrate excellent progress in the delivery and takeout channel.
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Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.
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