Buy Jubilant Foodworks: target of Rs 4707: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Jubilant Foodworks

Industry data suggest that the QSR space registered a growth of 29% and 5% in the month of Oct,21 and Nov,21 respectively vs. pre-covid level sales. We expect the December,21 to be another strong quarter in view of strong traction on delivery platform in last few days of the month. JFL with its strong delivery model is expected to report same-store-sales growth (SSSG) of low double digit in Q3FY2022 with the base normalising as business recovered to 100% of pre-COVID level in Q3FY2021. With the company likely to add 55-60 stores in Q3, revenue growth will be 20% during the quarter. As the company implemented mid-single digit price increase in its menu, gross margin is expected to remain almost flat. OPM is expected to remain at 25-26%, in-line with management’s guidance.

Outlook

We maintain Buy on Jubilant Foodworks Limited (JFL) with an unchanged PT of Rs. 4,707. Recent correction of 21% provides a good entry opportunity in the established QSR play valued at 47.4x its FY2024E EPS (25.3x its FY2024E EV/EBIDTA).

More Info

At 15:22 hrs Jubilant Foodworks was quoting at Rs 3,631.50, up Rs 26.65, or 0.74 percent.

It has touched an intraday high of Rs 3,652.75 and an intraday low of Rs 3,564.40.

It was trading with volumes of 24,148 shares, compared to its thirty day average of 19,925 shares, an increase of 21.20 percent.

In the previous trading session, the share closed down 1.39 percent or Rs 50.70 at Rs 3,604.85.

The share touched its 52-week high Rs 4,577.45 and 52-week low Rs 2,545.00 on 13 October, 2021 and 01 February, 2021, respectively.

Currently, it is trading 20.67 percent below its 52-week high and 42.69 percent above its 52-week low.

Market capitalisation stands at Rs 47,924.56 crore.

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