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Jubilant FoodWorks: Recovery likely to be by March 2021

Bright prospects, resilient business but valuations of Jubilant FoodWorks are expensive

September 03, 2020 / 02:28 PM IST
Jubilant FoodWorks: Recovery likely to be by March 2021

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Jubilant FoodWorks (JFL) (CMP: Rs 2,252; Market capitalization: Rs 29,723 crore), one of the largest foodservice companies and a master franchisee of Domino’s Pizza, posted June 2020 quarter results that were above Street expectations. JFL saw overall like-for-like sales recovery of 52.7 percent in the June quarter, 77.8 percent for July, and nearly 89.3 percent in August. (image) Source: Company presentation Nearly 83 percent of the Domino’s store network was open in August. JFL has undertaken various cost optimization initiatives such...

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