Jubilant FoodWorks (JUBLFOOD) Q1 24/25 earnings summary

Executive summary

• Achieved a milestone of over 3,000 stores across five brands and six countries, including 2,029 Domino's stores in India, 100 COFFY stores in Turkey, and 50 Popeyes stores in India, reflecting rapid network expansion and strategic execution.

• Group system sales reached INR 22.4 billion in Q1 FY25, with record new customer acquisition in Domino's India, up 32% year-on-year.

• Enhanced digital engagement with Domino's India app MAU at 12.1 million (+17.5% yoy) and loyalty membership exceeding 25 million, contributing over 50% of business.

• Consolidated DP Eurasia for the full quarter, contributing to elevated growth and profitability.

• Consolidated revenue from operations for Q1 FY25 was INR 13,345.42 million, with net profit attributable to owners at INR 558 million.

Financial highlights

• Consolidated revenue for Q1 FY25 was INR 19.3 billion, up 44.8% year-on-year; system sales reached INR 22.4 billion, up 13.5% in constant currency.

• Group EBITDA margin at 19.8%, down 85 bps year-on-year but up 8 bps sequentially; PAT margin at 3.1%, up 98 bps year-on-year.

• Domino's India standalone revenue grew 9.9% yoy to INR 14.4 billion; LFL growth at 3.0%; EBITDA margin at 19.3%.

• DP Eurasia revenue at INR 4.6 billion, up 15.4% year-on-year in constant currency; EBITDA margin at 25%, PAT margin at 9.2%.

• Earnings per share (basic and diluted) for Q1 FY25 were INR 0.89, up from INR 0.44 in Q1 FY24.

Outlook and guidance

• Network expansion guidance reaffirmed, targeting 180 new Domino's India stores this year with increased pace expected in Q2.

• No price increases planned for Domino's for the eighth consecutive quarter; focus remains on value and customer acquisition.

• Continued innovation across value and premium segments, with cost optimization to expand margins.

• The consolidated results for Q1 FY25 are not directly comparable to previous periods due to the acquisition of DP Eurasia N.V.