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Jubilant FoodWorks Q4 & FY25 Results: Delivery Growth, Store Expansion & Financial Insights

Lesson 137/151 | Study Time: 5 Min

Course: Quarterly Result Updates & Analysis

Jubilant FoodWorks Q4 & FY25 Results: Delivery Growth, Store Expansion & Financial Insights

FairValue: Jublfoods

https://docs.google.com/spreadsheets/d/e/2PACX-1vSeF24FDAnx216IPTtEYMJHTQahjapNLxHLzwBrQjcrOM0nevK5pzIUScWyyZ9nrw/pubhtml?gid=79313943&single=true

🏢 Company Overview

Jubilant FoodWorks Ltd. (JFL) is India’s largest QSR operator managing Domino’s Pizza, Popeyes, Dunkin’, and COFFY. With deep tech integration and operational strength, JFL concluded FY25 with a total of 3,316 stores across India and five international markets.

📈 Q4 FY25 Financial Highlights

Revenue ₹15,872 Mn 🟢 +19.1% YoY
EBITDA ₹3,056 Mn 🟢 +19.7% YoY | EBITDA Margin 19.3%
PAT ₹495 Mn 🟢 +31.5% YoY | PAT Margin 3.1%
EPS ₹0.74 🟢 vs ₹0.57 YoY
Delivery Revenue 🟢 +27.1%
Like-for-Like Growth (Domino’s) 🟢 12.1%
Mature Store ADS ₹84,011

📅 FY25 Full-Year Performance

Metric	FY25	YoY Growth
Consolidated Revenue	₹81,417 Mn	🟢 +44.0%
Standalone Revenue	₹61,047 Mn	🟢 +14.3%
EBITDA	₹11,807 Mn	🟢 +7.8%
PAT	₹1,941 Mn	🔴 -17.0%
EPS	₹3.41	🔴 vs ₹3.52

🛒 Network & Segmental Insights

India Stores 2,304 (Domino’s 2,179)
International Stores 763
Net Additions in FY25 🟢 +325 Stores
City Presence Expanded to 475 🟢 +54 new cities

📊 Income Snapshot (₹ Mn)

Metric	Q4 FY25	FY25	YoY Trend
Revenue	₹15,872	₹61,047	🟢 +14.3%
EBITDA	₹3,056	₹11,807	🟢 +7.8%
PAT	₹495	₹1,941	🔴 -17.0%
PAT Margin	3.1%	3.2%	🔴 Decline
EPS (₹)	₹0.74	₹3.41	🔴 Lower YoY

⚙️ Key Financial Ratios (Standalone)

Debt-to-Equity 0.60 🔴 Higher than FY24
Current Ratio 1.12 🟢 Stable
PBV (Price to Book) 4.27x 🟢 Valuation Correction
Trade Receivables ₹3,301 Mn 🔴 +25% YoY

💸 Cash Flow Summary (₹ in Mn)

CFO (Operating) ₹16,680 🟢 Strong Growth
CFI (Investing) ₹-8,500 🟢 Reduced Outflow
CFF (Financing) ₹-8,495 🔴 Shift to repayments
Net Cash Flow ₹-315 🔴 Negative balance

🛠 Operational & Digital Innovation

Big Big Pizza launched with 6-flavor slices
ELATE Android-based PoS deployed
App MAUs 13.1 Mn 🟢 +17% YoY
Loyalty Members 33.7 Mn 🟢 Expanding base

🔮 FY26 Outlook & Strategic Direction

India Expansion planned 250 stores
Turkey Expansion planned 30–50 stores
Focus areas include dual product innovation, operating efficiency, digital ordering, and scaling Popeyes and COFFY brands

📘 Valuation Update

CMP ₹680
EPS FY25 ₹3.41
P/E Ratio 199.1x 🔴 Very High
Book Value per Share ₹159.26
P/BV Ratio 4.27x 🟢 Below 5-year average

🔍 Long-Term Watchlist for Investors

PAT margin expansion above 5 percent
Consistent SSSG above 10 percent YoY
Positive free cash flow trend
Scaling contribution from Popeyes and COFFY
ROE improvement and steady dividend payout

🧠 Key Investor Takeaways

🟢 Strong leadership in Indian QSR delivery segment
🟢 Growing digital and loyalty-driven customer base
🟢 Efficient cash generation despite expansion

🔴 Valuation premium not yet backed by earnings growth
🔴 Negative free cash flow and high P/E
🔴 Margin pressures in international operations

📢 Disclaimer

This report is for educational purposes only. It is not investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.

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Piyush Patel

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