Jubilant FoodWorks (JUBLFOOD) Q2 24/25 earnings summary

Executive summary

• Achieved strong growth momentum in Q2 and H1 FY25, with consolidated revenue reaching INR 19,547 million, up 42.8% year-over-year, driven by convenience, innovation, and value focus.

• Investments in technology, direct-to-consumer apps, and a 20-minute delivery model enhanced operational excellence and customer experience.

• Group network expanded to 3,130 stores, with 139 net new stores in H1 FY25 and strong digital engagement (12.8 million MAU, 27.8 million loyalty members).

• Net profit for Q2 FY25 was INR 665 million, down from INR 972 million in Q2 FY24, impacted by higher costs and DP Eurasia consolidation.

• The acquisition of DP Eurasia N.V. in February 2024 impacts comparability of current period results.

Financial highlights

• Q2 FY25 consolidated revenue: INR 19,547 million (+42.8% yoy); EBITDA: INR 3,986 million (+43.8% yoy); EBITDA margin: 20.4% (+14 bps yoy); PAT: INR 665 million (-26.4% yoy); PAT margin: 3.7%.

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

• India segment revenue at INR 14,669 million, up 9.1% year-on-year; Domino's India growth at 8.1%.

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

• Gross margin stable at 76.1% in Q2 FY25.

Outlook and guidance

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

• Continued investments in technology, supply chain, and new brands to drive growth.

• Focus on operational excellence, marketing investments, and product innovation to sustain growth.

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

• The company continues to focus on its core Food and Beverages segment, with recent international expansion through acquisitions.