Jubilant Food Q3 preview: Brokerages expect steady quarter on better sales

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26 Aug, 2025 12:21

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Brokerages expect a steady quarter for Jubilant FoodWorks, the operator of Domino’s Pizza in India. While profit could range between Rs 75 crore and 92 crore, the same-store-sales growth is likely to be in the range of 10-13 percent due to better sales from ‘Everyday Value’ offers.

Here is a gist of what brokerages anticipate from its results for December quarter.

Brokerage: Edelweiss | Profit: Rs 82.1 crore

The brokerage house said that same-store-sales growth (SSSG) could be around 10 percent year-on-year, aided by festive season, focus on promoting everyday value offer and implied price hikes.

It expects gross margins to improve in light of softening of cheese prices.

“Higher online ordering to improve the operating leverage, however, increased delivery costs to slightly offset the impact. Having said this, we would see EBITDA margin expansion,” analysts at the firm wrote in their report.

Brokerage: Emkay | Profit: Rs 83.3 crore

Emkay said that it estimates topline growth to be driven by a slower but still healthy SSG of 13%, despite the high base. Commodity prices are benign but rising employee costs and crude-led inflation may keep margins flat, the report further added.

Brokerage: Kotak Institutional Equities | Rs 92.3 crore

The research firm is modelling 12.5% SSSG as the base starts getting tough; however, Everyday Value 99 offer should continue to help.

“We expect EBITDA margin to expand 120 bps yoy, despite flat gross margins, aided by better leverage and cost saving initiatives,” the report further stated.

Brokerage: Prabhudas Lilladher | Profit: Rs 88.5 crore

Gains from extention of "Everyday value Offer" to small Pizzas is expected to continue with 15% SSSG despite high base of 17.8% SSSG. It estimates 23 store openings in 3Q in line with the guided 75 openings in FY19.

Brokerage: Motilal Oswal | Profit: Rs 74.8 crore

Motilal Oswal expects revenue to rise 11.5 percent to Rs 890 crore, while SSSG could be 10 percent for the quarter. Gross margin is likely to see an expansion of 30bp YoY to 74.8%.

We expect EBITDA margin to contract by 100bp YoY to 16.2% and EBITDA to grow by 5% YoY to Rs 140 crore.

Brokerage: Reliance Securities | Profit: Rs 85 crore

The brokerage estimates 14% SSSG for the quarter along with seeing strong EBITDA growth. Earnings growth is likely to be helped by operating leverage, analysts at the firm wrote in their report.

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