Jubilant Foodworks Ltd
Jubilant FoodWorks Limited (JFL/Company) is part of the Jubilant Bhartia Group and is one of the India’s largest food service Company. The Company holds the master franchise rights for two international brands, Domino’s Pizza and Dunkin' Donuts addressing two different food market segments and now has Popeyes in its food segment. The Company also launched its first homegrown brand – Hong’s Kitchen in Chinese cuisine segment. [1]
- Market Cap ₹ 39,142 Cr.
- Current Price ₹ 593
- High / Low ₹ 797 / 565
- Stock P/E 131
- Book Value ₹ 32.8
- Dividend Yield 0.20 %
- ROCE 13.1 %
- ROE 10.4 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 26.6%
Cons
- Stock is trading at 18.1 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 13.7% over last 3 years.
* 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.
Peer comparison
Consumer Discretionary Consumer Services Leisure Services Restaurants
Part of BSE 500 BSE 200 BSE Dollex 200 Nifty 500 BSE MidCap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,736 | 2,093 | 2,438 | 2,583 | 3,018 | 3,563 | 3,927 | 3,312 | 4,396 | 5,158 | 5,655 | 8,142 | 8,855 | |
| 1,486 | 1,836 | 2,173 | 2,339 | 2,576 | 2,961 | 3,045 | 2,532 | 3,290 | 4,022 | 4,496 | 6,560 | 7,150 | |
| Operating Profit | 250 | 256 | 265 | 245 | 442 | 603 | 883 | 780 | 1,106 | 1,136 | 1,159 | 1,582 | 1,704 |
| OPM % | 14% | 12% | 11% | 9% | 15% | 17% | 22% | 24% | 25% | 22% | 20% | 19% | 19% |
| 9 | 6 | 10 | -1 | 21 | 44 | 38 | 64 | 26 | 40 | 211 | 42 | 138 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 165 | 163 | 176 | 201 | 288 | 523 | 466 |
| Depreciation | 79 | 101 | 128 | 155 | 160 | 157 | 352 | 375 | 393 | 486 | 598 | 807 | 872 |
| Profit before tax | 180 | 161 | 147 | 88 | 303 | 490 | 403 | 306 | 563 | 489 | 485 | 294 | 504 |
| Tax % | 34% | 31% | 34% | 35% | 35% | 35% | 31% | 25% | 26% | 28% | 18% | 26% | |
| 118 | 111 | 97 | 58 | 196 | 318 | 279 | 231 | 418 | 353 | 400 | 217 | 382 | |
| EPS in Rs | 1.81 | 1.69 | 1.47 | 0.88 | 2.97 | 4.85 | 4.24 | 3.51 | 6.37 | 5.35 | 6.05 | 3.19 | 5.59 |
| Dividend Payout % | 0% | 15% | 17% | 29% | 17% | 21% | 28% | 34% | 19% | 22% | 20% | 38% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 16% |
| 3 Years: | 23% |
| TTM: | 29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | -6% |
| 3 Years: | -20% |
| TTM: | 23% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 3% |
| 3 Years: | 3% |
| 1 Year: | -15% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 17% |
| 3 Years: | 14% |
| Last Year: | 10% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 65 | 66 | 66 | 66 | 66 | 132 | 132 | 132 | 132 | 132 | 132 | 132 | 132 |
| Reserves | 485 | 581 | 696 | 739 | 902 | 1,128 | 990 | 1,295 | 1,813 | 1,906 | 2,039 | 1,971 | 2,036 |
| 0 | 0 | 0 | 0 | 0 | 0 | 1,670 | 1,620 | 2,106 | 2,554 | 4,207 | 4,372 | 4,564 | |
| 312 | 429 | 460 | 485 | 529 | 596 | 578 | 720 | 731 | 791 | 1,660 | 1,929 | 2,046 | |
| Total Liabilities | 862 | 1,075 | 1,222 | 1,291 | 1,497 | 1,856 | 3,370 | 3,767 | 4,782 | 5,382 | 8,038 | 8,404 | 8,778 |
| 546 | 737 | 828 | 800 | 789 | 809 | 2,189 | 2,146 | 2,737 | 3,488 | 6,184 | 6,434 | 6,744 | |
| CWIP | 20 | 20 | 26 | 61 | 14 | 16 | 41 | 29 | 47 | 184 | 118 | 255 | 263 |
| Investments | 94 | 75 | 91 | 94 | 263 | 181 | 51 | 517 | 927 | 822 | 308 | 176 | 111 |
| 202 | 243 | 277 | 336 | 430 | 850 | 1,089 | 1,076 | 1,072 | 888 | 1,428 | 1,538 | 1,660 | |
| Total Assets | 862 | 1,075 | 1,222 | 1,291 | 1,497 | 1,856 | 3,370 | 3,767 | 4,782 | 5,382 | 8,038 | 8,404 | 8,778 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 225 | 276 | 212 | 204 | 409 | 424 | 728 | 751 | 930 | 1,026 | 1,010 | 1,668 | |
| -233 | -262 | -200 | -188 | -332 | -457 | -99 | -602 | -654 | -595 | -1,285 | -850 | |
| 1 | 1 | -18 | -15 | -35 | -17 | -461 | -289 | -307 | -426 | 377 | -849 | |
| Net Cash Flow | -6 | 15 | -6 | 0 | 42 | -51 | 168 | -140 | -31 | 5 | 102 | -32 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 2 | 17 | 15 |
| Inventory Days | 27 | 30 | 35 | 35 | 31 | 32 | 35 | 67 | 59 | 52 | 112 | 65 |
| Days Payable | 140 | 168 | 186 | 182 | 185 | 173 | 166 | 268 | 198 | 164 | 251 | 145 |
| Cash Conversion Cycle | -111 | -136 | -150 | -144 | -153 | -139 | -129 | -199 | -137 | -110 | -122 | -65 |
| Working Capital Days | -41 | -49 | -43 | -43 | -44 | -42 | -52 | -71 | -55 | -51 | -66 | -52 |
| ROCE % | 37% | 27% | 21% | 13% | 34% | 44% | 30% | 16% | 21% | 16% | 11% | 13% |
Documents
Announcements
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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
1d - Income Tax rectification reduced demand from Rs.216.19 Cr to Rs.190.21 Cr; appeal filed (Dec 4, 2025).
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Grant Of Options Under JFL Employees Stock Option Scheme 2025
1 Dec - Granted 10,23,160 ESOPs on Dec 1, 2025; exercise price Rs.2; vesting from July 31, 2028.
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Disclosure Under Regulation 30 Of Listing Regulations
25 Nov - Dividend Rs.1.20/share approved Aug 28, 2025; withheld for shareholders lacking KYC per SEBI June 23, 2025.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
19 Nov - Transcript of Conference Call for Q2FY26 and H1FY26 results.
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Response /Clarification On Increase In Volume Received From BSE
17 Nov - Clarified BSE on increased trading volume; affirmed disclosures; unaudited Q2/H1 results filed Nov 13, 2025.
Annual reports
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Concalls
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT
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Mar 2025TranscriptAI SummaryPPT
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Feb 2025Transcript PPT REC
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Nov 2023Transcript PPT REC
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Jul 2022TranscriptAI SummaryPPT
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Oct 2021TranscriptAI SummaryPPT
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Jul 2021Transcript PPT
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Nov 2020Transcript PPT
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Sep 2020Transcript PPT
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Jun 2020TranscriptAI SummaryPPT
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Oct 2019Transcript PPT
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Oct 2018Transcript PPT
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Jul 2018TranscriptAI SummaryPPT
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Oct 2017Transcript PPT
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Feb 2017TranscriptAI SummaryPPT
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Oct 2016TranscriptAI SummaryPPT
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May 2016TranscriptAI SummaryPPT
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Nov 2015TranscriptAI SummaryPPT
Brand Portfolio
1) Domino’s: The company is a leading player in the pizza segment, holding exclusive rights to operate Domino’s Pizza outlets in India, Sri Lanka, Bangladesh, Nepal, Turkey, Azerbaijan, and Georgia.
2) Popeyes: It exclusively operates Popeyes in India. Popeyes is the world’s 2nd-largest chicken QSR, offering Louisiana-style Cajun fried chicken and chicken sandwiches.
3) Dunkin’: The company holds exclusive rights to develop and operate Dunkin' restaurants in India, the largest coffee and donut brand in the USA, serving coffee and baked goods.
4) Hong’s Kitchen: Hong’s Kitchen is the company’s first homegrown brand and India’s only Chinese QSR.
5) COFFY: Through the acquisition of DP Eurasia, the company has entered Turkey’s high-frequency coffee consumption market under the “COFFY” brand, which ranks as the 8th largest café brand in Turkey. [1] [2] [3]