Jubilant Foodworks Q4 PAT seen up 52% at Rs 29cr

Its EBITDA is seen up 58% at Rs 52 crore versus Rs 33 crore, YoY.

Its OPM is seen at 18.3% versus 17.1%.

The company's PAT is seen up 52% at Rs 29 crore versus Rs 19 crore. (Can be lower due to jump in effective tax rate from 25% to 32% on YoY basis)

Expectations from Q4FY12 Results

*Operating leverage will continue to deliver benefits

*Sales growth will be driven by price increase and continued momentum in SSS growth

*Expecting SSS growth at over 25% (vs 31% in 9MFY12) due to promotion offers, high ad spends, new product launches

*Expect ~22 new store additions this quarter

*Price increase will have partially help in expanding Gross Margins and EBITDA margins

*LTL sales growth is estimated at ~30% on a high base of 33.2% in 4QFY11

Key things to watch out for

*Management commentary on consumer slowdown

*Like-To-Like (LTL) growth ((which recovered from 20% in Q2 to 23-24% in Q3))

*If the company does not take adequate price hikes sustaining high SSS growth will be a challenge