For
quarter ended Sept 2023, consolidated Net sales (including other operating income) of Jubilant Foodworks has increased 5.16% to Rs 1368.63 crore compared to quarter ended Sept 2022. Operating profit margin has declined from 23.96% to 20.25%, leading to 11.12% decline in operating profit to Rs 277.18 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 22.47% to 22.70%. Purchase of finished goods cost fell from 1.51% to 1.38%. Employee cost increased from 17.62% to 18.88%. Other expenses rose from 34.49% to 36.84%. Other income fell 32.31% to Rs 7.06 crore. PBIDT fell 11.81% to Rs 284.24 crore. Provision for interest rose 14.48% to Rs 56.84 crore. Loan funds rose to Rs 2,607.88 crore as of 30 September 2023 from Rs 2,325.60 crore as of 30 September 2022. Inventories rose to Rs 260.49 crore as of 30 September 2023 from Rs 185.36 crore as of 30 September 2022. Sundry debtors were higher at Rs 35.35 crore as of 30 September 2023 compared to Rs 24.02 crore as of 30 September 2022. Cash and bank balance declined from Rs 417.52 crore as of 30 September 2022 to Rs 117.49 crore as of 30 September 2023. Investments declined from Rs 928.69 crore as of 30 September 2022 to Rs 730.68 crore as of 30 September 2023.
PBDT fell 16.59% to Rs 227.4 crore. Provision for depreciation rose 23.76% to Rs 141.88 crore. Fixed assets increased to Rs 3,780.72 crore as of 30 September 2023 from Rs 3,105.18 crore as of 30 September 2022. Intangible assets increased from Rs 101.46 crore to Rs 162.20 crore.
Profit before tax down 45.87% to Rs 85.52 crore. Share of profit/loss was 112.18% higher at Rs 35.01 crore. Provision for tax was expense of Rs 23.33 crore, compared to Rs 42.97 crore. Effective tax rate was 19.36% compared to 24.62%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 26.10% to Rs 97.20 crore. Equity capital stood at Rs 131.97 crore as of 30 September 2023 to Rs 131.97 crore as of 30 September 2022. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 41.94% as of 30 September 2023 ,compared to 41.94% as of 30 September 2022 . Promoters pledged stake was 0.80% as of 30 September 2023 ,compared to 1.67% as of 30 September 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Jubilant Foodworks has increased 5.73% to Rs 2703.17 crore. Operating profit margin has declined from 24.09% to 20.46%, leading to 10.22% decline in operating profit to Rs 553.02 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 22.17% to 22.61%. Purchase of finished goods cost fell from 1.58% to 1.52%. Employee cost increased from 17.09% to 18.91%. Other expenses rose from 35.11% to 36.52%. Other income fell 22.24% to Rs 16.4 crore. PBIDT fell 10.62% to Rs 569.42 crore. Provision for interest rose 15.17% to Rs 111.16 crore. Loan funds rose to Rs 2,607.88 crore as of 30 September 2023 from Rs 2,325.60 crore as of 30 September 2022. Inventories rose to Rs 260.49 crore as of 30 September 2023 from Rs 185.36 crore as of 30 September 2022. Sundry debtors were higher at Rs 35.35 crore as of 30 September 2023 compared to Rs 24.02 crore as of 30 September 2022. Cash and bank balance declined from Rs 417.52 crore as of 30 September 2022 to Rs 117.49 crore as of 30 September 2023. Investments declined from Rs 928.69 crore as of 30 September 2022 to Rs 730.68 crore as of 30 September 2023.
PBDT fell 15.22% to Rs 458.26 crore. Provision for depreciation rose 25.19% to Rs 277.6 crore. Fixed assets increased to Rs 3,780.72 crore as of 30 September 2023 from Rs 3,105.18 crore as of 30 September 2022. Intangible assets increased from Rs 101.46 crore to Rs 162.20 crore.
Profit before tax down 43.33% to Rs 180.66 crore. Provision for tax was expense of Rs 48.73 crore, compared to Rs 79.74 crore. Effective tax rate was 27.87% compared to 24.62%.Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 48.37% to Rs 126.12 crore.
Equity capital stood at Rs 131.97 crore as of 30 September 2023 to Rs 131.97 crore as of 30 September 2022. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 41.94% as of 30 September 2023 ,compared to 41.94% as of 30 September 2022 . Promoters pledged stake was 0.80% as of 30 September 2023 ,compared to 1.67% as of 30 September 2022 .
Cash flow from operating activities decreased to Rs 476.20 crore for YTD ended September 2023 from Rs 550.95 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets during the YTD ended September 2023 stood at Rs 421.43 crore, compared to Rs 393.09 crore during the YTD ended September 2022.
Full year results analysis.
Net sales (including other operating income) of Jubilant Foodworks has increased 17.34% to Rs 5158.25 crore. Operating profit margin has declined from 25.22% to 22.32%, leading to 3.86% rise in operating profit to Rs 1,151.56 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 21.24% to 22.70%. Purchase of finished goods cost rose from 1.34% to 1.58%. Employee cost increased from 17.46% to 17.55%. Other expenses rose from 34.75% to 35.87%. Other income rose 21.91% to Rs 50.41 crore. PBIDT rose 4.51% to Rs 1201.97 crore. Provision for interest rose 14.28% to Rs 201.23 crore. Loan funds rose to Rs 2,553.74 crore as of 31 March 2023 from Rs 2,106.10 crore as of 31 March 2022. Inventories rose to Rs 177.00 crore as of 31 March 2023 from Rs 161.18 crore as of 31 March 2022. Sundry debtors were higher at Rs 28.73 crore as of 31 March 2023 compared to Rs 22.05 crore as of 31 March 2022. Cash and bank balance declined from Rs 563.36 crore as of 31 March 2022 to Rs 256.91 crore as of 31 March 2023. Investments declined from Rs 926.78 crore as of 31 March 2022 to Rs 821.81 crore as of 31 March 2023.
PBDT rose 2.74% to Rs 1000.74 crore. Provision for depreciation rose 23.62% to Rs 485.89 crore. Fixed assets increased to Rs 3,534.05 crore as of 31 March 2023 from Rs 2,719.56 crore as of 31 March 2022. Intangible assets increased from Rs 63.58 crore to Rs 137.96 crore.
Profit before tax down 11.38% to Rs 514.85 crore. Share of profit/loss was 151.15% lower at Rs -26.12 crore. Provision for tax was expense of Rs 135.7 crore, compared to Rs 145.17 crore. Effective tax rate was 27.77% compared to 25.77%.
Minority interest increased 92.61% to Rs -0.17 crore. Net profit attributable to owners of the company decreased 15.98% to Rs 353.20 crore.
Equity capital stood at Rs 131.97 crore as of 31 March 2023 to Rs 131.97 crore as of 31 March 2022. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 41.94% as of 31 March 2023 ,compared to 41.94% as of 31 March 2022 . Promoters pledged stake was 1.66% as of 31 March 2023 ,compared to 1.67% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 1,026.16 crore for year ended March 2023 from Rs 930.02 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 842.03 crore, compared to Rs 458.38 crore during the year ended March 2022.
Other Highlights
Domino’s
Cheesy Rewards membership base reaches 19.5 million with 50.1% Order
Contribution in Sept 23.
In
Q2 FY24, company Opened 60 new stores in India, total store count reached 1,949.
In
H1 FY24, Company opened 90 new stores across all brands in India. Out of the
new stores, it opened five new restaurant for Popeyes and entered two new
cities – Hyderabad and Madurai.
In
Q2 FY24, Like-for-Like Growth was negative 1.3% YoY.
In
Q2 FY24, in Sri Lanka, revenue growth was 2% YoY. In Bangladesh, revenue grew
by 85.6% YoY and the network expanded to 23 stores.