Jubilant FoodWorks (JUBLFOOD) Q4 20/21 earnings summary

Executive summary

• FY 2021 operations were disrupted by COVID-19 restrictions, but delivery, digital ordering, cost controls and a broader brand portfolio supported recovery; Domino's sales recovery reached 100.3% in December 2020.

• Consolidated revenue was ₹331,187.13 lakh, EBITDA ₹77,119.24 lakh at a 23.29% margin, and PAT ₹23,052.17 lakh.

Financial highlights

• Consolidated revenue from operations fell to ₹331,187.13 lakh from ₹392,727.40 lakh in FY 2020; total income was ₹338,494.90 lakh.

• Consolidated EBITDA declined to ₹77,119.24 lakh from ₹87,559.27 lakh; EBITDA margin improved to 23.29% from 22.30%.

• Consolidated PAT was ₹23,052.17 lakh versus ₹27,879.89 lakh; basic and diluted EPS were ₹17.55 versus ₹21.22.

• Standalone revenue was ₹326,887.27 lakh, down 15.88% YoY; EBITDA fell 12.60% to ₹76,655.87 lakh and net profit fell 15.16% to ₹23,368.64 lakh.

Outlook and guidance

• Long-term QSR outlook was viewed positively, supported by under-penetration, rising disposable incomes, changing lifestyles, online delivery and technology adoption.

• Priorities include continued delivery and takeaway growth, digital investment, product innovation, and disciplined scaling of new brands; no numeric FY 2022 guidance was stated.