Jubilant FoodWorks (JUBLFOOD) Q1 26/27 earnings summary

Executive summary

• Unaudited standalone and consolidated Q1 FY27 results for the quarter ended June 30, 2026, were approved by the Board on August 13, 2026.

• Popeyes grew 40%-45%, while Domino’s Q1 LFL growth was 2.5% versus 11.6% a year earlier; management expects Q2 improvement and sees Popeyes as a second growth engine.

• The 5%-7% LFL growth target and 200 bps EBITDA-margin expansion ambition remain in place; emerging brands are ahead of track on their 100 bps contribution.

Financial highlights

• Standalone revenue from operations was INR 18,488.51 million versus INR 16,929.09 million; net profit was INR 696.21 million versus INR 667.00 million in Q1 FY26.

• Consolidated revenue from operations was INR 25,696.54 million versus INR 22,521.88 million; net profit was INR 1,000.28 million versus INR 943.37 million in Q1 FY26.

• Gross margin was 75.5%, with a 20 bps QoQ contraction after pricing actions and efficiencies offset much of the cost pressure.

• Personnel costs rose 12% YoY standalone and 15.6% consolidated; store productivity and supply-chain headcount leverage helped offset wage pressure per store.

• Delivery volumes grew, but the INR 99 minimum order value weighs on EBITDA per order as delivery costs are incurred against lower order value.

Outlook and guidance

• FY27 CapEx guidance remains INR 750 crore-INR 900 crore, increasingly directed to new stores, existing-store experience and technology.

• Management expects Q2 LFL growth to outperform Q1 and retains its 5%-7% target as comparison bases normalize.

• Calibrated price increases may be used if cost inflation worsens, after pursuing internal efficiencies; guidance is maintained despite external cost pressures.

• Labour Code developments are being monitored, with financial provisions to be adjusted as needed.