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ANALYSIS

Jubilant Foodworks’ Q1 FY19 operating revenues worth Rs 8,551 million
Wednesday, 08 August, 2018, 08 : 00 AM [IST]
Our Bureau, New Delhi
Jubilant FoodWorks Limited (JFL) reported its financial results for the quarter ended June 30, 2018. Operating revenues for the first quarter of financial year 2019 (Q1 FY19) stood strong at Rs 8,551 million, representing a growth of 26 per cent over the corresponding quarter of the previous year (Q1 FY18), and a sequential growth of 9.6 per cent over the preceding quarter. The growth was on the back of a strong same store growth (SSG) of 25.9 per cent in Domino’s Pizza.

Overall profitability also improved, with the earnings before interest, taxes, depreciation and amortisation (EBITDA) margin for Q1 FY19 coming in at Rs 1,421 million, up by 490 basis points (bps) at 16.6 per cent of revenue, a growth of 78.5 per cent over Q1 FY18. Profit after tax in Q1 FY19 stood at Rs 747 million at 8.7 per cent of revenue (up by 520 bps) and a growth of 213.2 per cent over Q1 FY18.

Domino’s’ strong performance in Q1 FY19 was on account of a good response to the Every Day Value (EDV) offer on regular pizzas, which was rolled out nationally in March 2018, and which was supported aggressively during the IPL T20 cricket season. It was one of the sponsors of Royal Challengers Bangalore. In addition to this, the continued success of the all-new Domino’s product upgrade, launched last year, also drove a strong growth in core pizza orders.

In addition, Dunkin’ Donuts made sustained progress towards its goal of breaking even with a slew of innovations that drove sales growth and which was accompanied by disciplined cost management.

Commenting on the performance for Q1 FY19, Shyam S Bhartia, chairman, and Hari S Bhartia, co-chairman, Jubilant FoodWorks Limited, said, “We are pleased to start the year on a strong note with our robust performance in Q1 FY19. The strong growth in Domino’s came on the back of a superior product, value-for-money delivery and growing digital contribution. This, together with our focus on achieving break-even in Dunkin’ Donuts by the end of the financial year, will continue to drive profitable growth for us.”

Commenting on the performance for Q1 FY19, Pratik Pota, chief executive officer and whole-time Director, Jubilant FoodWorks Limited, said, “We delivered a strong quarter in both Domino’s and Dunkin’ Donuts.”

“In Domino’s, the extension of EDV to regular pizzas received a very good response with an increase in both new customer acquisition as well as existing customer frequency. Dunkin’ Donuts too saw encouraging growth and made good progress towards profitability on the back of successful innovations and disciplined cost management.”

Store Matrix


Domino’s Pizza

Particulars

Q1 FY19

Q1 FY18

SSG

25.9%

6.5%

Network data

Restaurants at the beginning of the period

1,134

1,117

New restaurants

13

13

Closed restaurants

3

5

Restaurants at the end of the period

1,144

1,125

Number of new cities added

2

1

There were 1,144 restaurants across 268 cities as of June 30, 2018.

Two new cities (Ballari and Shoolagiri) were added in Q1 FY19.

Online data

Particulars

Q1 FY19

Q1 FY18

Online orders (OLO) to delivery sales percentage

65%

51%

Mobile ordering sales to OLO percentage

83%

69%

App Download Count cumulative (in mn)

10.9

7.5


Dunkin’ Donuts

Network data

Particulars

Q1 FY19

Q1 FY18

Restaurants at the beginning of the period

37

63

New restaurants

1

1

Closed restaurants

1

9

Restaurants at the end of the period

37

55

Number of new cities added

0

0

Thirty-seven restaurants as of June 30, 2018 across 10 cities



 
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