|
The standalone net sales for the quarter ended June 2017 increased by 11% to Rs 678.82 crore. This was driven by a robust Same Store Sales growth of 6.5% in Domino's Pizza, the highest since Q1 FY16. Same store sales growth (SSG) of Domino for Q1 FY18 was at 6.5%. 13 new stores of Domino's were opened and 5 stores were closed in the quarter. The total number stores at the end of quarter were 1125. The company has 55 Dunkin' Donuts restaurants in India at the end of the quarter. The company opened 1 new restaurant and closed 9 in the quarter. 55 restaurants as of 17th July 2017 across 15 cities. The operating profit margins inclined by 220 bps to 11.7%. The net profit has increased by 26% to Rs 23.84 crore.
Standalone Performance
Performance for the quarter ended June 2017 (YoY)
The net sales increased by 11% to Rs 678.82 crore. This was driven by a robust Same Store Sales growth of 6.5% in Domino's Pizza, the highest since Q1 FY16
Same store sales growth (SSG) of Domino for Q1 FY18 was at 6.5% against -7.5% in Q4 FY17, -3.3% in Q3 FY17, 4.2% in Q2 FY17 and -3.2% in Q1 FY17.
13 new stores of Domino's were opened and 5 stores were closed in the quarter. The total number stores at the end of quarter were 1125. 1125 restaurants as of 17th July 2017 across 264 cities.
Average OLO contribution to delivery sales in Q1 FY18 was around 51% against 44% in Q1 FY17. Mobile Ordering sales contribution to overall OLO was around 69%. Currently, there are over ~7.5mn downloads of the Domino's Pizza mobile ordering app across various smartphones.
New products launched during Q1 FY18 are:- 3 new format of chicken presented with International & trending flavours to build excitement among customers:- Roasted Chicken Wings in Peri-Peri & Classic Hot Sauce; Boneless Chicken Wings In Peri-Peri & Lemon Pepper sauce and Chicken Meatballs in Peri-Peri & Srisacha sauce
The company has 55 Dunkin' Donuts restaurants in India at the end of the quarter. The company opened 1 new restaurant and closed 9 in the quarter. 55 restaurants as of 17th July 2017 across 15 cities. New products launched during Q1 FY18 are:- Big Joy Mayo Burger and Shaken Iced Coffee.
The operating profit margins inclined by 220 bps to 11.7% mainly due to fall in staff cost, rent cost and other expenses to adjusted net sales. The operating profit inclined by 38% to Rs 79.57 crore.
Other income decreased by 3% to Rs 3 crore. Depreciation rose by 42% to Rs 46.21 crore. The PBT inclined by 29% to Rs 36.36 crore.
Tax outgo inclined 36% to Rs 12.51 crore. The effective tax rate was at 34.4%, up from 32.7%. The net profit has increased by 26% to Rs 23.84 crore.
Performance year ended March 2017 (YoY)
The net sales increased by 6% to Rs 2546.07 crore The operating profit margins declined by 160 bps to 9.7% The operating profit declined by 9% to Rs 246.59 crore.
Other income increased by 28% to Rs 14.48 crore. Depreciation rose by 22% to Rs 151.15 crore. The PBT and EO declined by 31% to Rs 109.92 crore.
EO for the year stood at Rs 12.17 crore. Tax outgo declined 42% to Rs 30.50 crore. The effective tax rate was at 31.2%, down from 32.9%. The net profit has decreased by 37% to Rs 67.25 crore.
Management comments on performance:
Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, said:
We are happy to report a strong, all-round Q1 FY18 performance. We took a number of actions in the quarter towards driving innovation, delivering value and controlling costs, and we are pleased to see that our disciplined focus on driving profitable growth has begun having the desired impact. The performance strengthens our confidence in the underlying growth potential of our brands and the ability of our business model to unleash it.
Mr. Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said
At the beginning of the quarter, we had unveiled our new strategy for driving profitable growth. Today I am pleased to share encouraging progress in the execution of the strategy as reflected in our strong Q1FY18 performance.
Our focus on delivering better Value for money and driving innovation has helped bring back strong growth in Domino's Pizza. We have also made significant progress towards reducing losses and building a sustainable business in Dunkin' Donuts. Additionally, our discipline of controlling costs and driving efficiencies has helped improve overall operating margins.
Other Developments
Mr. Sachin Sharma, President & CFO and Key Managerial Personnel of the Company has resigned from the services of the Company. His last working day will be July 21, 2017. Second CFO exit in last 12 month apart from CEO resignation during the same period.
Other Information
The promoter's shareholding stood at 44.95%.
The scrip is trading around Rs 1264 on the BSE
|