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Jubilant FoodWorks Ltd * Jublfood has witnessed a decisive breakout from a bullish Cup and Handle price pattern with noticeable volumes. * Stock has reclaimed its key moving averages, adding to the positivity. * The chart pattern along with strong volumes and momentum suggests upmove to continue. * We thus recommend creating fresh longs in the mentioned zone. BuyJubilant FoodWorks Ltd CMP 517.65; Range 514-518; SL 498; Target 555 ...
Stock of the day : Buy Jubilant FoodWorks Ltd For Target Rs. 555 - Religare Broking Ltd
Providing value to customer to lift LFL growth in Q2 JUBI’s Q1 print was in-line; standalone revenue grew 5.6% led by decline in LFL (-1.3%), yet EBIDA/PAT declined by 9.2%/41.1%. Given strong base (41.1% growth), despite IPL event, stretched consumer spends saw 2.7% growth in ADS QoQ. Dine-in/delivery channel grew flat/8.4%. With 48% order contribution, enrolment for loyalty program grew 23.5% (16.8mn customers), yet with 10.0mn app download its MAU at 10.3mn grew 3.0% YoY. JUBI ste...
Buy Jubilant Foodworks Ltd For Target Rs.570 - Centrum Broking Ltd
Private equity firm Everstone Capital is in talks to sell its roughly 41% stake in Restaurant Brands Asia Ltd, the master franchisee of Burger King in India and Indonesia, CNBC Awaaz reported on Thursday. The Singapore-headquartered buyout firm is in talks with Jubilant Foodworks, which operates Domino's in India, as well as a consortium of PE firms Advent International and General Atlantic, the report said. Everstone Capital, through its investment vehicle QSR Asia Pte Ltd, held a ...
Everstone in talks to sell stake in India`s Burger King franchisee
Popeyes: Right ingredients for significant rampup (some impact for KFC is inevitable) We returned impressed from Popeyes first store in Chennai (Phoenix Mall, Velachery), which marks its entry into Chennai and expansion from Bangalore (12 stores), in the fried chicken market. The store atmosphere is appealing with vibrant colours and a contemporary look and feel, self-ordering kiosk, good lighting and highest seating capacity amongst Popeyes India outlets (with a separate section for &lsqu...
Buy Jubilant Foodworks Ltd For Target Rs.630 - ICICI Securities
Jubilant FoodWorks is currently trading at Rs. 432.50, down by 24.10 points or 5.28% from its previous closing of Rs. 456.60 on the BSE. The scrip opened at Rs. 444.95 and has touched a high and low of Rs. 444.95 and Rs. 425.00 respectively. So far 348852 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 706.75 on 02-Feb-2022 and a 52 week low of Rs. 425.00 on 02-Feb-2023. Last one week high and low of the scrip s...
Jubilant FoodWorks declines on reporting 40% fall in Q3 consolidated net profit
Jubilant FoodWorks is currently trading at Rs. 512.20, up by 1.50 points or 0.29% from its previous closing of Rs. 510.70 on the BSE. The scrip opened at Rs. 514.65 and has touched a high and low of Rs. 514.65 and Rs. 507.60 respectively. So far 165346 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 756.00 on 20-Jan-2022 and a 52 week low of Rs. 451.60 on 12-May-2022. Last one week high and low of the scrip stoo...
Jubilant FoodWorks gains on planning to add 3,000 Domino`s stores in next 12-18 months
Jubilant FoodWorks is currently trading at Rs. 504.15, up by 8.55 points or 1.73% from its previous closing of Rs. 495.60 on the BSE. The scrip opened at Rs. 495.05 and has touched a high and low of Rs. 505.90 and Rs. 493.00 respectively. So far 22327 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 784.27 on 18-Jan-2022 and a 52 week low of Rs. 451.60 on 12-May-2022. Last one week high and low of the scrip stood...
Jubilant FoodWorks jumps on launching first restaurant of US Fried chicken brand Popeyes in Chennai
Jubilant FoodWorks is currently trading at Rs. 531.40, up by 10.55 points or 2.03% from its previous closing of Rs. 520.85 on the BSE. The scrip opened at Rs. 529.80 and has touched a high and low of Rs. 534.45 and Rs. 524.65 respectively. So far 87746 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 805.47 on 14-Jan-2022 and a 52 week low of Rs. 451.60 on 12-May-2022. Last one week high and low of the scrip stoo...
Jubilant FoodWorks surges as its Domino`s Pizza launches 20-minutes delivery across 20 zones in India
Apollo Tyre Ltd Buy Apollo Tyre Ltd @ 312-313 CMP 315.95 Stop Loss 309.30 Target 315.40/318.50 Jubliant Food Ltd Buy Jubliant Food Ltd @ 535-537 CMP 535.65 Stop Loss 541.10 Target 531.10/526.00 To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631 Above vi...
Stock Picks - Apollo Tyre Ltd And Jubliant Food Ltd By ICICI Direct
Container Corporation Ltd Buy Container Crorporation Ltd @ 768-770 CMP 769.80 Stop Loss 762.10 Target 775.40/782.00 Jubilant Foodworks Ltd Buy Jubilant Foodworks Ltd @ 543-545 CMP 538.70 Stop Loss 549.30 Target 539.20/534.30 To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registra...
Stock Picks - Container Corporation Ltd And Jubilant Foodworks Ltd By ICICI Direct
Chasing growth with pangs (read weak internals) Simply put – JUBI’s headline growth is not a problem. What’s concerning (to the street) is the quality of this growth with two issues – (1) Stagnant revenue per store with accelerated store expansion (mainly Domino’s) & big price hikes and (2) Execution in new brands – it has utilised a lot of the management bandwidth with a (still) sub-par outcome. On the first bit – the thing to ponder is wou...
Buy Jubilant Foodworks Ltd For Target Rs.720 - ICICI Securities
In-line performance; LFL healthy at 8.4% * JUBI’s 2QFY23 results were mostly in line. 8.4% ‘Like-for-like’ (LFL) growth was healthy, given the unfavourable base. * Demand environment continues to be positive. Both the start of regionalization of product mix and strong response to the loyalty program are encouraging. While material cost pressures remain, there appear to be no material concerns on lease rentals and employee costs. We reiterate our Buy rating on the stock...
Buy Jubilant FoodWorks Ltd For Target Rs.740 - Motilal Oswal Financial Services
Weak revenue/store persists in Q2; Store adds impressive JUBI’s Q2 PAT was 10-14% lower than Street/our estimates, led by a 1-3% miss on topline, a 40-70bps miss on EBITDA margin and higher depreciation on stronger store additions at 76 for Domino’s in Q2. The topline miss was owing to a weaker growth in revenue-per-store, and margin miss was on account of higher gross-margin decline of ~200bps, led by elevated prices of cheese. Factoring-in the accelerated expansion and the lo...
Hold Jubilant FoodWorks Ltd For Target Rs.595 - Emkay Global Financial Services
Jubilant FoodWorks Ltd, which runs the Domino's Pizza chain of restaurants in India, reported a near-10% jump in second-quarter profit on Tuesday, as people dined out more following the easing of COVID-19 restrictions. Profit rose to 1.32 billion Indian rupees ($16.12 million) in the three months ended Sept. 30, from 1.2 billion rupees a year earlier. "Dine-in and takeaway channels combined witnessed strong year-on-year growth," said the restaurant operator. Restaurants...
Domino`s India franchisee Jubilant`s Q2 profit rises 10% on dine-in demand
Jubilant FoodWorks is currently trading at Rs. 642.25, up by 8.50 points or 1.34% from its previous closing of Rs. 633.75 on the BSE. The scrip opened at Rs. 638.15 and has touched a high and low of Rs. 652.20 and Rs. 638.15 respectively. So far 160899 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 915.49 on 13-Oct-2021 and a 52 week low of Rs. 451.60 on 12-May-2022. Last one week high and low of the scrip stoo...
Jubilant FoodWorks surges after its arm increases stake in DP Eurasia
Jubilant FoodWorks is currently trading at Rs. 604.70, up by 2.35 points or 0.39% from its previous closing of Rs. 602.35 on the BSE. The scrip opened at Rs. 606.55 and has touched a high and low of Rs. 615.00 and Rs. 603.85 respectively. So far 14945 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 915.49 on 13-Oct-2021 and a 52 week low of Rs. 451.60 on 12-May-2022. Last one week high and low of the scrip stood...
Jubilant FoodWorks inches up on acquiring 29.42% stake in Roadcast
Britannia Industries on Friday said that its board has elevated Varun Berry as executive vice-chairman and managing director with immediate effect and also appointed Rajneet Singh Kohli as executive director and chief executive officer. In an exchange filing, the company said that Kohli's appointment will be effective from 26 September 2022 for a perioid of five years and he will report to Varun Berry. He is not debarred from holding the office of director by virtue of any SEBI order or a...
Britannia appoints Varun Berry as executive VC, MD & Rajneet Kohli as CEO
ubilant FoodWorks is currently trading at Rs. 628.25, up by 5.40 points or 0.87% from its previous closing of Rs. 622.85 on the BSE. The scrip opened at Rs. 620.00 and has touched a high and low of Rs. 633.80 and Rs. 618.00 respectively. So far 22725 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 915.49 on 13-Oct-2021 and a 52 week low of Rs. 451.60 on 12-May-2022. Last one week high and low of the scrip stood ...
Jubilant FoodWorks trades higher on incorporating subsidiary in Luxembourg
Likely improvement in trajectory as long-term competitive advantages are intact We upgrade JUBI to BUY. Drivers of our optimism are (1) loyalty program potentially driving higher order frequency (~15% of Domino’s customers account for ~56% of revenues – a classic marketing case of heavy-user dependency - which is good, in our view), (2) continued network expansion ahead of competition, (3) likely positive surprise in Popeye’s execution and ramp-up (consensus may start asc...
Buy Jubilant Foodworks Ltd For Target Rs.750 - ICICI Securities
Strong performance; well on track to meet its store expansion guidance * JUBI’s 1QFY23 result was broadly in line with our estimates on all fronts. With 58 stores added in 1Q, the management is well on track to meet its 250 store opening guidance for FY23. * Delivery sales continued to deliver healthy growth, despite a higher base, with dine-in reviving to nearly 100% of pre-COVID levels. * The management stated that price increases taken in 3QFY22 and subsequently in 1QFY23 ar...
Buy Jubilant FoodWorks Ltd For Target Rs.720 - Motilal Oswal Financial Services
Weak Q1 leads to earnings cut; Maintain Hold * Q1 EBITDA was ~11% below our expectations. The 3Y revenue CAGR was ~10%, but it came in below our estimate of 12% on lower avg. rev/store CAGR of 1% vs. est. of 3%. Despite double-digit price hikes, gross margins fell 50bps vs. our est. of 30bps gain. * Slowing SSG profile is a key challenge for the incoming CEO. JUBI expects better SSG with the new loyalty program, faster delivery (20min) and innovations. However, we expect relativel...
Hold Jubilant FoodWorks Ltd For Target Rs.595 - Emkay Global Financial Services Ltd
Growth prospects attractive, moats widening In this report, we present the key takeaways from Jubilant Foodworks’ (JUBI’s) FY22 Annual Report. * JUBI continues to build extensively on its three key moats of delivery expertise, supply chain efficiency and technological superiority. * The emphasis on its ‘value for money’ proposition was also highlighted with the company choosing not to hike the price of its ‘Every Day Value (EDV)’ offering eve...
Buy Jubilant FoodWorks Ltd For Target Rs.720 - Motilal Oswal Financial Services Ltd
Derivative Ideas JUBLFOOD gained 0.92% and closed at 556 on 1st Jun. The stock has seen a good upmove with addition of OI implying Fresh Longs. After the stock gave a trendline breakout at 545, it has been resting in a narrow range for a couple of sessions. The chart indicators pointing towards the resumption of the up move. Holding 535, the stock is poised to see 580 levels in the coming days. We thus recommend initiating Fresh Longs as per the given levels. Strategy:- BUY JUBLFOOD @ 5...
Buy Jubiland Foodworks Ltd For Target Rs.580 - Religare Broking
Key News Jubilant Foods to buy remaining 10% stake in JV with Golden Harvest Jubilant Food Works on Tuesday said it will acquire the remaining 10 per cent share in its joint venture Jubilant Golden Harvest from Golden Harvest. After this, Jubilant Food Works (JFL) would have Golden Harvest's 49 per cent stake in the JV, making JGHL, which offers domino's pizza in Bangladesh, a wholly-owned subsidiary, the company said in a regulatory filing HC allows Invesco appeal against or...
Key News - Jubilant FoodWorks, OYO Rooms,Vedantu, Nissan Motor India By ARETE Securities
Shares of quick service restaurant Jubilant FoodWorks fell 28 per cent in the year-to-date period of 2022. The stock of Jubilant Foodworks witnessed heavy selling amidst large volumes last week after Pratik Pota resigned from the post of CEO and whole-time Director. "During his tenure of 5 years, the stock generated almost 10X returns before starting a downtrend in October 2021," said brokerage house Ventura Securities. The brokerage said though the stock always enjoyed pre...
Shares of Jubilant FoodWorks falls 28% in 2022, challenge for new leadership
Strategy may be potentially interpreted as pointing towards caution Jubi (for now) has stopped disclosing same-store growth (SSG) data. We would've been at peace with this, provided this is an acceptable global industry practice in retail, restaurant businesses. We are unsure. Importantly, this makes us wonder about the reasons, (1) likely relative performance (note that there are six restaurant stocks listed now in India versus two just two years back), (2) the focus on 20-minute deli...
Add Jubilant Foodworks Ltd For Target Rs.3,302 - ICICI Securities
SSG disappointment drives earnings cut * JUBI’s revenue and PAT missed our/Street expectations by 6-16%. Revenues grew by 13%, with a 2-year CAGR of ~6%, largely driven by an increase in the store count. Revenue per store remained largely flat vs. pre-Covid levels. LFL growth was 7.5%. SSG was lower due to store splits. * Management attributed the weaker revenue performance to lower operational hours, trade restrictions and the impact of store splits (46% of new adds). Net store a...
Hold Jubilant FoodWorks Ltd For Target Rs.3,600 - Emkay Global
A quick launch: Popeyes clucks in Ten months after acquiring the franchise rights, Jubilant FoodWorks (JFL) has launched the first Popeyes store in India (Bengaluru). Prima facie, the following aspects stand out: i) The new franchise is not competing on pricing, similar to the brand’s global approach. Entrylevel pricing is higher than peers. ii) The focus is more on the variety of offerings with different flavours vis-a-vis other chicken brands. iii) Wider vegetarian menu. iv) Store ...
Buy Jubilant FoodWorks Ltd For Target Rs.5,045 - Edelweiss Financial Services
Beat-upgrade cycle taking a pause for now; our 5-year optimism is intact Key Jubi narratives now are - store expansion, industry-leading revenue growth, resilient margins, unlock-led recovery, digital capabilities, high quality management, platform potential, market opportunity. What’s not ticking (for consensus) is the international expansion which JUBI has aspirations for – while it is bound to have (1) capital allocation concerns and (2) debatable valuation (lower India prem...
Add Jubilant Foodworks Ltd For Target Rs.4,200 - ICICI Securities
Result better than expected, immense growth opportunity * JUBI reported a beat on all fronts in its 2QFY22 result. Both store expansion and SSSG were ahead of our estimates. Earnings in 2QFY22 were strong, despite the recovery in dine-in still ~47% of pre-COVID levels. * With the lifting of lockdown restrictions, dine-in levels are picking up significantly compared to the early part of 2QFY22. Delivery is sustaining at much higher than pre-COVID levels. * JUBI has the best business m...
Buy Jubilant FoodWorks Ltd For Target Rs.4,870 - Motilal Oswal
Record performance; Outlook positive Jubilant FoodWorks (JFL) is a leading quick service restaurant (QSR) company. It owns franchise for Domino’s in India, Nepal, Sri Lanka and Bangladesh and also for Dunkin’ Donuts in India. * Standalone revenue surged 36.6% YoY in Q2FY22, reaching an all-time quarterly high of Rs. 1,101cr, aided by improved demand and record stores expansion. * As a result, EBITDA grew 33.2% YoY, although EBITDA margin contracted 70bps YoY to 26.0% due...
Large Cap : Buy Jubilant Foodworks Ltd For Target Rs.4,220 - Geojit Financial
Offline surge with Foodtech evolution Jubilant FoodWorks (JFL) reported an overall beat with QoQ margin improvement being the key highlight. Other key points: i) SSSG/LTL growth came in at 26%/29% (SSSG estimate: 30%). ii) Added 55 Domino’s stores, on track for the 150–175 target. iii) App downloads increased QoQ/YoY by 7mn/28mn (up 63% YoY) to a total of 71mn. Factoring in sustained higher store addition, we are increasing the target to 48x FY23E EV/EBITDA (40x Dec-22E earl...
Buy Jubilant FoodWorks Ltd For Target Rs.5,045 - Edelweiss Financial Services
CMP-Rs3,750 Target Price-Rs4,200 Jubilant Foodworks(JFL) is a food service company engaged in retail sales of food through two strong international brands, Domino’s Pizza and Dunkin’ Donuts addressing different food market segments. During 2QFY22, JFL has reported strong sales growth (~37% yoy) and Profit grew by ~58%. Going forward, we expect JFL to report a healthy top-line and bottom-line mainly due to new product launches, store addition ( currently store is 1,435) an...
Buy Jubilant Foodworks Ltd For Target Rs. 4200 By Angel One Ltd
Soft SSSG in the quarter but record store openings points to strong outlook ahead View ‐ The stock is trading at rich valuations of 63x FY24E but is developing into a solid 2‐3‐year growth story. We expect rich valuations to sustain given increasing aggression on footprint expansion and technology advancement, multiple levers to protect margins despite competition and a strong long‐term growth potential with entry into multiple new brands and geographies. It remains a good stock to ke...
Update On Jubilant Foodworks Ltd By Yes Securities
Key News India expected to see higher salary with 9.3% hike in 2022: Report Higher salaries in India are making a comeback with 9.3 per cent hike being expected in 2022, from 8 per cent in 2021, and with companies planning to give employees larger raises as they face mounting challenges of attracting and retaining employees, according to a report. Salaries are projected to see a median salary increase of 9.3 per cent next year compared to the actual median salary increase of 8 per cent...
Key News - Jubilant Foodworks Ltd, Oriental Hotels Ltd, L&T Finance Holdings Ltd, Havells India Ltd By ARETE Securities
Raises stake in DP Eurasia and Bangladesh subsidiary DP Eurasia transaction * Jubilant FoodWorks (JUBI) had acquired 32.81% stake in DP Eurasia in Feb’21 via its wholly-owned subsidiary: Jubilant Foodworks Netherlands (JFN). It has now announced a further acquisition of 17.18% stake in DP Eurasia. This would take its total stake to 49.99% in the company. * JFN intends to acquire the ordinary shares of DP Eurasia at 95 pence per ordinary share (v/s its CMP of 81 pence) via a rev...
Buy Jubilant FoodWorks Ltd For Target Rs.4830 - Motilal Oswal
Building on strengths, growth prospects buoyant JUBI’s FY21 annual report highlights the management’s efforts to stay ahead of its peers and reap the tremendous opportunities in the Indian QSR space. * Boosting its technological capabilities: In addition to its delivery and value moat, JUBI is boosting its technological moat to enhance its lead over its QSR peers and aggregators. Improving its pre-order experience, usage of Hindi and regional languages, and setting up of its...
Buy Jubilant Foodworks Ltd For Target Rs.4,830 - Motilal Oswal
Below are Views On Geared for opportunities once COVID-19 ends By Mr. Pratik Pota, CEO, Jubilant FoodWorks - Motilal oswal Financial Services Ltd. Strong focus on technology to continue JUBI will focus on three technology areas: a) improved customer experience, b) improved employee experience, and c) the drive to improve efficiency. With technology touching all parts of the business, it will increasingly be a source of competitive advantage. The management aims to offer i...
Geared for opportunities once COVID-19 ends By Mr. Pratik Pota, CEO, Jubilant FoodWorks - Motilal Oswal
Derivative Ideas JUBLFOOD SEPT FUTS added around 12% in open interest in as LONG buildup was seen in it . Current chart pattern also indicates further up move in its price. We suggest buying in JUBLFOOD as per below levels. Strategy:- BUY JUBLFOOD BETWEEN 3810-3815 SL 3775 TARGET 3890. To Read Complete Report & Disclaimer Click Here Please refer disclaimer http://ex.religareonline.com/disclaimer SEBI Registration number is INZ0001743...
Buy Jubilant FoodWorks Ltd Target Rs. 3890 - Religare Broking
Add Jubilant Foodworks Ltd For Target Rs.3,500 Capitalizing on the opportunity (per our expectations) - accelerated store expansion JUBI likely surprised consensus by stepping-up its store expansion target (for Domino’s) to 150-175 for FY22. Management’s confidence was reflected in the use of the words ‘hyper-growth’ (for JUBI’s brands) and ‘inflection point’ (for the industry) on the call. The intent and potential to leverage data analy...
Add Jubilant Foodworks Ltd : Capitalizing on the opportunity - accelerated store expansion By ICICI Securities
Derivative Ideas JUBLFOOD FUTS added around 14% in open interest as LONG buildup was seen in it. Current chart pattern also indicates further up move in its price. We suggest buying in JUBLFOOD as per below levels. Strategy:- BUY JUBLFOOD BETWEEN 3870-3875 SL 3830 TARGET 3990. To Read Complete Report & Disclaimer Click Here Please refer disclaimer http://ex.religareonline.com/disclaimer SEBI Registration number is INZ000174330 &nb...
Buy Jubilant FoodWorks Ltd Target Rs. 3990 - Religare Broking
COVID improves structural outlook, right-to-win strengthening * While Jubilant FoodWorks (JUBI)’s sales were broadly in line with our expectations, margins surprised positively. * The management believes the QSR business in India is at a significant inflection point. In line with this, the company has not only increased its store expansion guidance (150–175 stores from 135 earlier) but also announced investments to boost the supply chain. Moreover, in an interesting new thru...
Buy Jubilant FoodWorks Ltd For Target Rs. 3,630 - Motilal Oswal
Steady quarter, multiple levers for aggressive growth and tackling competition; Buy on dips View ‐ The stock is trading at rich valuations of 64x FY23 and 51x FY24 earnings but is developing into a solid 2‐3‐year growth story. We expect the rich valuations to sustain given increasing aggression on footprint expansion and technology advancement, multiple levers to protect margins despite competition and a strong long‐ term growth potential with entry into multiple new brands and geogra...
Update On Jubilant FoodWorks Ltd By Yes Securities
Below is quote on Jubilant Foodworks -1QFY22 - Result Update by Mr. Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd For 1QFY22, Jubilant Foodworks (JFL)’s top-line grew by ~130% yoy to Rs893cr.This was driven by Domino’s LFL Sales growth of 120.4% and SSG of 114.2%. The growth in Delivery channel, which grew by 123.7%, mitigated the impact on account of Dine-in channel being shut for a long time and mobility restrictions impacting the takeaway channel. Current...
Quote on Jubilant Foodworks -1QCY21 - Result Update By Mr. Amarjeet Maurya, Angel Broking Ltd
Key News Bharti Airtel-Intel network deal to speed up 5G service roll-out Bharti Airtel on Wednesday announced a collaboration with Intel Corporation for 5G network development by leveraging virtual and open radio access network (O-RAN) technologies and making indigenous solutions. Airtel and other telecommunications (telecom) operators are conducting 5G trials in select cities across India. “The collaboration is part of Airtel’s 5G road map for India as it transforms its ne...
Key News - Bharti Airtel Ltd, Ceat Ltd, Jubilant Foodworks Ltd, Havells India Ltd, Gland Pharma Ltd by ARETE Securities
Stage set for a (virtuous) snowball effect JUBI delivered a broadly in-line revenue print – while growth in Jan (+6%) was a tad underwhelming, improvement in Feb and March was encouraging (given March 2H again had some disruption). Performance of the delivery and takeaway channels have been impressive, mitigating the slowdown in dine-in. Benefits from (1) developing superior tech capabilities (over long-term) and (2) ramping up digital marketing initiatives, are now visible. Disrupti...
Add Jubilant Foodworks Ltd For Target Rs. 3,500 - ICICI Securities
Result below our expectations, 1QFY22 resilient despite the lockdown * We cut our FY22E/FY23E EPS forecast by 12.5%/5.2% on account of: a) JUBI’s lower than expected 4QFY21 result, and b) the effect of the lockdown so far in 1QFY22 due to the second COVID wave. * The impact would have been more if not for the resilience shown in AprMay’21, as per the management commentary. Continued strong growth in the Delivery channel has meant that the severe impact on Dine-in was mitigat...
Neutral Jubilant FoodWorks Ltd For Target Rs.2,970 - Motilal Oswal
Result below our expectations, 1QFY22 resilient despite the lockdown We cut our FY22E/FY23E EPS forecast by 12.5%/5.2% on account of: a) JUBI’s lower than expected 4QFY21 result, and b) the effect of the lockdown so far in 1QFY22 due to the second COVID wave. * The impact would have been more if not for the resilience shown in AprMay’21, as per the management commentary. Continued strong growth in the Delivery channel has meant that the severe impact on Dine-in was mitigated...
Neutral Jubilant FoodWorks Ltd For Target Rs.2,970 - Motilal Oswal
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