Jubilant FoodWorks (JUBLFOOD) Q1 24/25 earnings summary

Executive summary

• Achieved a milestone of 3,000 stores across five brands and six countries, including 2,000 Domino's stores in India, now serving 427 cities; Domino's India, COFFY Turkey, and Popeyes India crossed 2,000, 100, and 50 store marks respectively, highlighting rapid network expansion.

• Group system sales reached INR 22,365 million in Q1 FY25, with strong execution on strategic priorities and record new customer acquisition in Domino's India, up 32% year-over-year.

• Enhanced digital engagement with Domino's India app MAU at 12.1 million (+17.5% yoy) and loyalty membership nearing 25 million, contributing over 50% of business.

• Strong quarter with order-led and new customer-led growth, outperforming industry trends and acquiring new customers at a record rate.

• Consolidated revenue from operations for Q1 FY25 was INR 13,345.42 million, with total income at INR 13,438.79 million.

Financial highlights

• Consolidated revenue for Q1 FY25 was INR 19,331 million, up 44.8% year-on-year; EBITDA at INR 3,831 million, up 38.9% yoy, with a margin of 19.8%.

• PAT stood at INR 608 million, up 110.3% yoy, with a margin of 3.1%.

• Domino's India standalone revenue grew 9.9% yoy to INR 14,396 million; LFL growth at 3.0%.

• DPEU (Turkey, Azerbaijan, Georgia) revenue was INR 4,614 million, up 15.4% yoy, with Op. EBITDA margin of 25.0% and PAT margin of 9.2%.

• Domino's Bangladesh and Sri Lanka revenues grew 42.2% and 17.0% yoy respectively.

Outlook and guidance

• No change in network expansion guidance; targeting 180 new Domino's India stores in FY25.

• Margin improvement expected from Q4 FY24 lows, with continued focus on value and customer acquisition.

• No price increases planned for Domino's; focus remains on value and operational efficiency.

• Focus on volumetric growth, market share gains, and value-driven customer acquisition.

• Continued innovation across value and premium segments, with cost optimization to expand margins.