For
quarter ended March 2022, conslidated net sales (including other operating income) of Jubilant Foodworks has increased 13.31% to Rs 1175.97 crore compared to quarter ended march 2021.
Operating profit margin has jumped from 24.14% to 24.64%, leading to 15.66% rise in operating profit to Rs 289.80 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 21.08% to 21.74%. Purchase of finished goods cost fell from 1.41% to 1.18%. Employee cost decreased from 19.55% to 17.39%. Other expenses rose from 33.79% to 34.98%. Other income fell 2.24% to Rs 12.63 crore. PBIDT rose 14.78% to Rs 302.43 crore. Provision for interest rose 22.70% to Rs 46.06 crore. Loan funds rose to Rs 2,106.10 crore as of 31 March 2022 from Rs 1,619.98 crore as of 31 March 2021. Inventories rose to Rs 161.18 crore as of 31 March 2022 from Rs 133.13 crore as of 31 March 2021. Sundry debtors were higher at Rs 22.05 crore as of 31 March 2022 compared to Rs 16.80 crore as of 31 March 2021. Cash and bank balance rose to Rs 563.36 crore as of 31 March 2022 from Rs 539.18 crore as of 31 March 2021. Investments rose to Rs 926.78 crore as of 31 March 2022 from Rs 516.74 crore as of 31 March 2021 . PBDT rose 13.46% to Rs 256.37 crore. Provision for depreciation rose 20.67% to Rs 106.03 crore. Fixed assets increased to Rs 2,719.56 crore as of 31 March 2022 from Rs 2,135.26 crore as of 31 March 2021. Intangible assets increased from Rs 38.80 crore to Rs 63.58 crore. Profit before tax grew 8.88% to Rs 150.34 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 37.67 crore, compared to Rs 32.77 crore. Effective tax rate was 28.18% compared to 23.73%. Minority interest decreased 581.82% to Rs -0.75 crore. Net profit attributable to owners of the company decreased 8.21% to Rs 96.76 crore. Equity capital stood at Rs 131.97 crore as of 31 March 2022 to Rs 131.97 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 41.94% as of 31 March 2022 ,compared to 41.94% as of 31 March 2021 . Promoters pledged stake was 1.67% as of 31 March 2022 ,compared to 2.17% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of Jubilant Foodworks has increased 32.74% to Rs 4396.12 crore. Operating profit margin has jumped from 23.29% to 25.22%, leading to 43.77% rise in operating profit to Rs 1,108.78 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 20.55% to 21.24%. Purchase of finished goods cost fell from 1.41% to 1.34%. Employee cost decreased from 22.54% to 17.46%. Other expenses rose from 32.22% to 34.75%. Other income fell 43.42% to Rs 41.35 crore. PBIDT rose 36.23% to Rs 1150.13 crore. Provision for interest rose 8.23% to Rs 176.09 crore. Loan funds rose to Rs 2,106.10 crore as of 31 March 2022 from Rs 1,619.98 crore as of 31 March 2021. Inventories rose to Rs 161.18 crore as of 31 March 2022 from Rs 133.13 crore as of 31 March 2021. Sundry debtors were higher at Rs 22.05 crore as of 31 March 2022 compared to Rs 16.80 crore as of 31 March 2021. Cash and bank balance rose to Rs 563.36 crore as of 31 March 2022 from Rs 539.18 crore as of 31 March 2021. Investments rose to Rs 926.78 crore as of 31 March 2022 from Rs 516.74 crore as of 31 March 2021 . PBDT rose 42.91% to Rs 974.04 crore. Provision for depreciation rose 4.70% to Rs 393.05 crore. Fixed assets increased to Rs 2,719.56 crore as of 31 March 2022 from Rs 2,135.26 crore as of 31 March 2021. Intangible assets increased from Rs 38.80 crore to Rs 63.58 crore. Profit before tax grew 89.75% to Rs 580.99 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 145.17 crore, compared to Rs 75.65 crore. Effective tax rate was 25.77% compared to 24.71%. Minority interest decreased 101.75% to Rs -2.30 crore. Net profit attributable to owners of the company increased 81.46% to Rs 420.39 crore. Equity capital stood at Rs 131.97 crore as of 31 March 2022 to Rs 131.97 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 41.94% as of 31 March 2022 ,compared to 41.94% as of 31 March 2021 . Promoters pledged stake was 1.67% as of 31 March 2022 ,compared to 2.17% as of 31 March 2021 .
Other Highlights
Board Recommended
dividend of Rs 1.20 (60%) per equity share of face value of Rs 2 each for
Financial Year 2021-22.
In Q4
FY22, company opened 80 new Domino’s stores. This is the highest ever number of
new store openings by any franchisee in any quarter in any market. In FY22
company opened 230 new Domino’s stores.
The
Company entered 17 new cities during the quarter to expand its reach to 337
cities across India. The Company also opened 4 new restaurants for Popeyes and
1 new restaurant each for Dunkin’, Hong’s Kitchen and Ekdum! during the
quarter.
During the
quarter, in Sri Lanka, the Company registered system sales growth of 80.6% YoY and
opened 3 new stores taking the network strength to 35 stores. In Bangladesh,
system sales grew by 44.5% YoY. With the opening of 1 new outlet, the store
count in Bangladesh has reached 9 stores. The Company has also completed 100%
acquisition of its subsidiary with an intention to further strengthen presence
and scale of operations in the fast-growing and critical market of Bangladesh.
In Q4
FY22, OLO (Online Order) contribution to delivery sales stood at 97.9%.
In Q4
FY22, Domino’s LFL (Like-for-like) sales Growth was 25%.
Management Comments :
Mr. Shyam
S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks,
said, “We are now a multi-country, multi-brand company with deep investments in
technology. We are looking to further our investments across our portfolio of
brands to become a food tech powerhouse. Sameer, with his strengths in building
digital first businesses in related spaces will provide the necessary
leadership to our business. He is a strong, dynamic and values-driven leader with
an impressive track record of delivering consistent high-quality performance in
tough consumer businesses. The Board warmly welcomes Sameer to the role and
wishes him every success”.
Mr. Shyam
S. Bhartia, Chairman and Mr. Hari S. Bhartia, CoChairman, Jubilant Foodworks
Limited said, “This has been a momentous year for the Company on two accounts.
A series of timely, strategic investments in strengthening digital ecosystem
for delivery and setting up an integrated supply chain network has helped
Company register record revenue, profitability and store growth numbers even in
the face of adversity and inflationary challenges. This in turn has enabled us
to foray in new categories and make strategic investments which will continue
to create significant future value for all stakeholders.”
Mr. Pratik
Pota, CEO and Wholetime Director, Jubilant Foodworks Limited said, “Today, our
results reinforce our conviction that a vast array of actions we have
undertaken over past quarters has helped us strike a remarkable balance of
strong top-line growth, bottom-line growth, cash generation, and record network
expansion. JFL is a profoundly different, much stronger and more profitable
company poised to lead while transitioning to become a multi-brand,
multi-country foodtech powerhouse.”
Mr. Sameer
Khetarpal, said, “As India’s largest food service company, JFL is uniquely
poised to scale non-linearly across multiple businesses and geographies. The
company has an exceptional track record of innovation and serving customers with
exemplary standards. I am honoured to join Jubilant FoodWorks and look forward
to working closely with the Jubilant team, to serve millions of customers by
building businesses driven by technology and operations excellence.”
| Jubilant Foodworks : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,175.97 | 1,037.86 | 13.31 | 4,396.12 | 3,311.87 | 32.74 | | OPM (%) | 24.64 | 24.14 | 50 bps | 25.22 | 23.29 | 194 bps | | OP | 289.80 | 250.57 | 15.66 | 1,108.78 | 771.20 | 43.77 | | Other Inc. | 12.63 | 12.92 | -2.24 | 41.35 | 73.08 | -43.42 | | PBIDT | 302.43 | 263.49 | 14.78 | 1,150.13 | 844.28 | 36.23 | | Interest | 46.06 | 37.54 | 22.70 | 176.09 | 162.70 | 8.23 | | PBDT | 256.37 | 225.95 | 13.46 | 974.04 | 681.58 | 42.91 | | Depreciation | 106.03 | 87.87 | 20.67 | 393.05 | 375.4 | 4.70 | | PBT | 150.34 | 138.08 | 8.88 | 580.99 | 306.18 | 89.75 | | Share of Profit/(Loss) from Associates | -16.27 | 0 | - | -10.4 | 0 | - | | PBT before EO | 134.07 | 138.08 | -2.90 | 570.59 | 306.18 | 86.36 | | EO Income | -0.39 | 0 | - | -7.33 | 0 | - | | PBT after EO | 133.68 | 138.08 | -3.19 | 563.26 | 306.18 | 83.96 | | Taxation | 37.67 | 32.77 | 14.95 | 145.17 | 75.65 | 91.90 | | PAT | 96.01 | 105.31 | -8.83 | 418.09 | 230.53 | 81.36 | | Minority Interest (MI) | -0.75 | -0.11 | -581.82 | -2.3 | -1.14 | -101.75 | | Net profit | 96.76 | 105.42 | -8.21 | 420.39 | 231.67 | 81.46 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 96.76 | 105.42 | -8.21 | 420.39 | 231.67 | 81.46 | | EPS (Rs)* | 1.47 | 1.60 | -7.94 | 6.45 | 3.51 | 83.83 | | | * EPS is on current equity of Rs 131.97 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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