Buy Jubilant FoodWorks: target of Rs 3145: Sharekhan

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Sharekhan's research report on Jubilant FoodWorks

Jubilant Foodworks (JFL) has expanded its platter by foraying into the Biryani segment under the brand name -Ekdum! by opening three restaurants in Gurgaon. This is inline with its strategy expand its portfolio to include products that Indian consumers prefer. The expected rise in QSR sector, shift to trusted brandspost COVID-19 and higher ordering through online platforms will be the key growth drivers for such ventures in the near term. Core business recovered m-o-m (in October,business bounced back to 96%). With stores operating at optimal levels and the on-going festive/cricket season, online orders will orders will get a boost in the near term. JFL is an established player with 1264 Domino’s Pizzastores, wide portfolio and efficient delivery model will maintain stock’s premium valuations.

Outlook

We maintain a Buy on the stock with a revised price target of Rs. 3145.

For all recommendations report, click here

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