Jubilant FoodWorks (JUBLFOOD) Q4 18/19 earnings summary

Executive summary

• FY19 revenue grew 18.5% YoY to ₹353,066.94 lakh standalone, with Domino’s India SSG of 16.4%, the highest in seven years.

• Profitability improved on operating leverage, cost rationalisation and stronger sales; Dunkin’ Donuts reached breakeven in Q3 and sustained it in Q4.

• Growth priorities: strengthen Domino’s India, invest in digital and customer experience, scale Hong’s Kitchen and build international operations.

Financial highlights

• Standalone FY19 revenue from operations ₹353,066.94 lakh, up 18.5%; EBITDA ₹60,776.58 lakh, up 36.2%; PAT ₹32,280.48 lakh, up 56.4%.

• Consolidated FY19 revenue ₹356,314.46 lakh, up 18.1% YoY; EBITDA ₹59,976.14 lakh, up 36.3%; PAT ₹31,798.04 lakh, up 62.1%.

• Standalone EPS ₹24.46 versus ₹15.64 in FY18; consolidated EPS ₹24.23 versus ₹14.87, with prior-year share counts adjusted for the bonus issue.

• Standalone PBT includes a ₹793 lakh exceptional impairment provision for closed Sri Lanka stores; reported PBT was ₹49,447.58 lakh, up 57.9%.

Outlook and guidance

• Five-year strategic themes include expanding Domino’s India network, scaling Hong’s Kitchen and other cuisines, and growing in Sri Lanka, Bangladesh and beyond.

• Planned emphasis on delivery and dine-in experience, technology and data science, value-for-money offers, product quality and brand strength.

• Dunkin’ focus remains cost optimisation and growth, aiming to move gradually into profitable territory after breakeven in Q3 FY19.