Jubilant FoodWorks reported a consolidated net profit of Rs 208.2 crore in March quarter, which was Rs 28.5 Crore last year same time.
Revenue reported are Rs 1,572.7 crore, which is 23.8 % rise from Rs 1,269.8 Crore a year-ago..
EBIDTA for the quarter was Rs 310.5 crore grown by 24.7 %. Margins have improved by 10 bps YoY to 19.7 %.
The company has reported an exceptional gain of Rs 170 crore.
The Board of Directors of the Company has recommended a dividend of Rs 1.2 per equity share of face value of Rs. 2 each for the financial year ended 31st March 2024, this is to be approved by the share holders.
Company has given the reason for exceptional gain :- During the financial year ended March 31, 2024, Jubilant Foodworks Netherlands B.V. (“JFN”), wholly owned subsidiary of the Parent Company has acquired further stake in DP Eurasia N.V. (DPEU) for an aggregate consideration of INR 7,702.69 million and JFN holds 94.33% in DPEU as on March 31, 2024. Pursuant to the aforesaid acquisition, DPEU has become subsidiary of JFN and accordingly the Group has accounted for its investment in accordance with IND AS 103 “Business Combinations” and Ind AS 110 “Consolidated Financial Statements” w.e.f. February 1, 2024. Consequent to the same a gain of INR 1,701.65 million on remeasurement of previously held equity interest at acquisition date fair value has been disclosed under exceptional item in the financial results. Further, results of DPEU duly inflation adjusted in accordance with IAS 29 on “Financial Reporting in Hyperinflationary Economies” are consolidated in these results and accordingly results of the quarter and year ended March 31, 2024 are not comparable with that of previous periods/ year. Based on the Purchase Price Allocation carried out by the independent valuer, the purchase consideration has been assigned as follows i) INR 9,718.10 million on identifiable intangibles (INR 5,761.30 million for master franchise agreement and INR 3,956.80 million for Coffy brand) and ii) INR 7,706.44 million is accounted for as goodwill.
Introduction to Jubilant FoodWorks
Jubilant FoodWorks Limited, a prominent player in the Indian food service industry, has established itself as a formidable force with a robust portfolio that includes the widely recognized Domino’s Pizza and Dunkin’ Donuts brands. The company’s journey began in 1995, marking its entry into the burgeoning Indian market. Since its inception, Jubilant FoodWorks has demonstrated a remarkable growth trajectory, underpinned by strategic expansions and a keen understanding of consumer preferences.
Over the years, Jubilant FoodWorks has achieved numerous milestones, with one of the most significant being the launch of Domino’s Pizza in India in 1996. This move not only revolutionized the fast-food segment but also set the stage for Jubilant FoodWorks to become the largest food service company in India. The introduction of Dunkin’ Donuts in 2012 further diversified its portfolio, catering to a different segment of the market and solidifying its foothold in the industry.
The company’s expansion strategies have been instrumental in its success. By focusing on rapid outlet growth, embracing technology-driven solutions, and innovating its menu offerings, Jubilant FoodWorks has managed to carve out a significant market share. As of the latest reports, it operates over 1,600 Domino’s outlets across India, making it the leading quick-service restaurant chain in the country. Dunkin’ Donuts, though smaller in scale, has also garnered a loyal customer base.
Jubilant FoodWorks’ mission is to be the most customer-centric food service company, delivering delightful experiences and great value. Its vision is to be the best food service company in the world by ensuring the highest quality standards and leveraging innovation. Core values such as customer focus, excellence, and teamwork drive the company’s operational ethos, ensuring consistent growth and customer satisfaction.
Accolades and awards have been a testament to Jubilant FoodWorks’ industry leadership. It has received numerous recognitions, including the Golden Peacock National Quality Award and the CNBC Awaaz Consumer Award, underscoring its commitment to excellence and customer satisfaction. These achievements reflect the company’s relentless pursuit of quality and its strategic vision for sustained growth in the competitive food service landscape.
Disclaimer :- All the facts & the figure presented in the article are taken from internet and all the opinion presented in the article are authors personal opinion and this is not at all an investment suggestion. Before any buying and selling in the stock, please check with your investment advisor.
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