12.1% Revenue Growth, EBITDA Margin of
23.8%, 40 stores opened
Noida, October 22,
2019 – Jubilant FoodWorks Limited (JFL) today reported strong
financial results for the quarter and half year ended 30th September, 2019.
Operating Revenues for Q2 FY20 stood at Rs.9,882
million, a growth of 12.1% over Q2 FY19. Like
for Like (LFL) Sales growth for
Domino’s Pizza stood at 6.5% for the quarter (i.e. sales growth of stores
that were not spilt this FY and PY). Same Store Growth (SSG) for Domino’s Pizza
was 4.9%, lapping a high base of 20.5%
EBITDA for Q2 FY20 stood at Rs.2,350 million at 23.8%
of revenue. Profit after Tax in Q2 FY20 was at Rs.759 million, and Normalized
PAT (before One-time Tax Charge and Exceptional
Item) was Rs.961 million, a normalized margin of 9.7%
The Company opened 40 new Domino’s stores during
the quarter, highest in the last 15 quarters, taking the total store count up
to 1,283 stores across 276 cities. All these stores were based on the new store
Domino’s Pizza Bangladesh continues to perform very
well. The company opened another store in Bangladesh.
Commenting on the performance for Q2 FY20, Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said, “In the face of a challenging external environment, we are glad to report that our strategy of offering value for money and superior customer experience has resulted in a strong, double digit revenue growth, along with a sequential improvement in margins. We believe that the Indian Food Services industry is structurally attractive and we have the right strategy and levers in place to help us drive profitable growth.”
Commenting on the performance for Q2 FY20, Mr. Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said, “We delivered a strong performance in Q2 FY20 with a revenue growth of 12.1% and a sequential improvement in margins. We stepped up the pace on network expansion, opening 40 new Domino’s Pizza stores during the quarter, the highest in the last 15 quarters. Other emerging growth drivers such as Bangladesh and Hong’s Kitchen also recorded a strong performance.”
1 city/state added (Agartala, Tripura), 1 city exited (Ramnagar, Karnataka) in Q2 FY20
* “Like-for-like” (LFL) Sales Growth refers to the year-over-year growth in sales for non-split restaurants opened before previous financial year
** “Same store growth” (SSG) refers to the year-over-year growth in sales for restaurants opened before previous financial year
Figures have been rounded off for the purpose of reporting.
2. All financial data in this presentation is
derived from reviewed standalone IND-AS financial statements.
3. The financials of Dunkin’ Donuts have been
included in the results & related financial discussion.
1st April 2019, the company has adopted Modified Retrospective Approach for
transition to IND-AS 116. Similar to Q1, current quarter and H1FY20 numbers are
as per IND-AS 116. Consequently, operating lease expenses have changed from
rent/other expenses to depreciation and amortization expenses and finance
costs. This approach does not require restatement of comparative information. For
the purpose of comparison, tax expense has been recalculated on memorandum basis
on the profit before tax as per Old Reporting Standard.
EBITDA for Q2 FY20 (without the impact of IND-AS 116) at Rs.1,618
million higher by 9.7%; EBITDA Margin at 16.4%.
Profit After Tax for Q2 FY20 (without the impact of IND-AS 116) at
Rs. 1,216 million, higher by 56.5%; PAT Margin at 12.3%.
Normalized PAT (before One-time Tax Charge and Exceptional Item)
for Q2 FY20 (without the impact of IND-AS 116) at Rs. 1,046 million, higher by
34.7%; PAT Margin at 10.6%.
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