Jubilant FoodWorks (JUBLFOOD) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 saw consolidated revenue of INR 24,372.19 million, up 13.3% year-on-year, with reported EBITDA growing 20% and PAT rising over 90% year-on-year; India maintained double-digit growth and EBITDA margin improved by over 100 basis points year-on-year.

• Domino's India achieved positive like-for-like growth for the eighth consecutive quarter, and Popeyes delivered high double-digit LFL growth, reflecting strong brand acceptance.

• International businesses in Sri Lanka, Bangladesh, and Turkey reported impressive top-line and bottom-line growth, with Turkey servicing its acquisition debt through internal cash flows.

• The company added 114 stores in Q3, reaching 3,594 stores globally, with 2,530 in India.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved by the Board on February 10, 2026, with no material misstatements identified.

Financial highlights

• Consolidated revenue for Q3 FY26 was INR 24,372.19 million, up from INR 21,507.63 million year-on-year; India revenue was INR 18,015.09 million, up from INR 16,110.59 million year-on-year.

• Domino's India LFL growth was 5% on a strong base; overall Domino's revenue grew 10.7% year-on-year, driven by 10% order growth.

• Gross margin in India expanded sequentially by 52 basis points to 74.9%, and EBITDA margin improved by over 100 basis points year-on-year to 20.5%.

• Standalone profit after tax from continuing operations before exceptional items grew 27% year-on-year; consolidated PAT before exceptional items grew 94% year-on-year, with PAT margin up 167 basis points.

• For the nine months ended December 31, 2025, consolidated revenue was INR 81,417.26 million and net profit was INR 3,618.16 million.

Outlook and guidance

• Management targets 5%-7% LFL growth for Domino's and 15% overall top-line growth for standalone business, aiming for pre-IND AS EBITDA margin close to 15%.

• CapEx guidance remains in the INR 700-850 crore range annually, with continued investment in technology and store expansion; 1,000 new stores planned over the next three years.

• Mumbai commissary to be operational by end of Q4FY26, with supply chain capex peaking to support medium-term growth.

• The company continues to monitor regulatory changes, particularly the implementation of new Labour Codes, and will adjust financial provisions as needed.

• Popeyes expected to contribute 1.5% to growth in the near term, with potential for accelerated expansion if key metrics are met.