Jubilant FoodWorks (JUBLFOOD) Q2 24/25 earnings summary

Executive summary

• Consolidated revenue for Q2 FY25 rose 42.8% year-over-year to INR 19,547 million, driven by convenience, innovation, and value focus, with EBITDA up 43.8% and margin at 20.4%.

• Standalone revenue grew 9.1% year-over-year to INR 14,669 million, with EBITDA up 1.3% and margin at 19.4%.

• Network expanded to 3,130 stores, adding 139 net new stores across all markets, including 73 in Q2.

• Domino's India saw 8.1% revenue growth, 20.2% order growth, and record-high new customer acquisition (+29% yoy), with highest app engagement at 12.8 million MAUs.

• The acquisition of DP Eurasia N.V. in February 2024 impacts year-over-year comparability.

Financial highlights

• Q2 FY25 consolidated revenues reached INR 19,547 million, up 42.8% year-on-year, with EBITDA margin at 20.4%.

• Q2 FY25 consolidated PAT was INR 665 million, down from INR 972 million in Q2 FY24, with margin at 3.7%.

• H1 FY25 consolidated revenue was INR 38,878 million (+43.8% yoy), EBITDA INR 7,816 million (+41.3% yoy), PAT INR 1,323 million (+4.9% yoy).

• Delivery channel revenue grew 15.9% year-on-year, with record order growth of 32.3%.

• H1 system sales reached INR 45.1 billion.

Outlook and guidance

• Growth momentum from Q1 and Q2 is carrying into Q3, with strong performance during festive periods.

• Continued focus on operational excellence, marketing investments, product innovation, and digital engagement to sustain growth.

• Management expects gradual margin recovery as growth is prioritized over immediate margin expansion.

• Continued investments in technology, supply chain, and new brands planned.