{"id":136392,"date":"2022-11-10T08:23:37","date_gmt":"2022-11-10T13:23:37","guid":{"rendered":"https:\/\/44.250.171.167\/?p=136392"},"modified":"2022-11-17T09:15:30","modified_gmt":"2022-11-17T14:15:30","slug":"jubilant-foodworks-limited-q2-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/jubilant-foodworks-limited-q2-fy23-earnings-conference-call-insights\/","title":{"rendered":"Jubilant FoodWorks Limited Q2 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/eQd73udCwH8?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<p><strong>Key highlights from Jubilant FoodWorks Limited (<a href=\"https:\/\/44.250.171.167\/symbol\/JUBLFOOD\/\">JUBLFOOD<\/a>) Q2 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Management Update:<\/strong><\/p>\n<ul>\n<li>[00:03:56] JUBLFOOD added 76 new stores and entered 22 new cities in India. Overall, the company opened 134 new Domino&#8217;s stores in the first half and said it is well on track to achieve the store guidance of opening 250 stores in FY23.<\/li>\n<\/ul>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:16:16] Nihal Jham of Nuvama asked about RM price like cheese being at an all-time high and if JUBLFOOD will look at a pricing action if that sustains. Ashish Goenka CFO replied that the company had instituted two rounds of price increase earlier in 2022 and late in 2021. Currently, JUBLFOOD is not looking at any further price increase.<\/li>\n<\/ul>\n<ul>\n<li>[00:17:30] Nihal Jham with Nuvama enquired that for the new city additions, how is productivity and profitability work from a supply chain cost perspective. Ashish Goenka CFO said, JUBLFOOD is making deeper inroads into Tier 3 and Tier 4 towns, which is part of a concerted strategy and believes the model will continue to work in future.<\/li>\n<\/ul>\n<ul>\n<li>[00:27:11] Kunal Vora from BNP Paribas asked about how to look at loyalty program enrollment and its trends. Ashish Goenka CFO answered that the program is doing well. The full mix went live only in Aug. and in 2Q23 JUBLFOOD saw an overall enrollment of 7 million. One-third of orders are coming from enrolled customers.<\/li>\n<\/ul>\n<ul>\n<li>[00:33:06] Jaykumar Doshi from Kotak enquired that if it\u2019s right to say that of the 1,250 store network pre-pandemic, the price increases taken has not translated into proportionate revenue increase as consumers are downtrading. \u00a0Ashish Goenka CFO answered that JUBLFOOD is seeing order and volume growth. But consumers are downtrading to some extent and also reducing item per order. Channel mix is also impacting revenue.<\/li>\n<\/ul>\n<ul>\n<li>[00:36:49] Percy Panthaki from IIFL enquired how many more quarters the company expects YoY EBITDA margins to be down as in 2Q23. Ashish Goenka CFO said that almost entire contribution of this margin dilution is because of commodity price inflation as EBITDA margins have been reflecting GM dilution that reduced by 200 bp YonY.<\/li>\n<\/ul>\n<ul>\n<li>[00:44:07] Vivek Maheshwari from Jefferies asked about areas of attention and potential for improvement for JUBLFOOD. Sameer Khetarpal CEO replied that JUBLFOOD sees it more as opportunities for growth and margin expansion. One priority is to get the new brands to accelerate faster and also doubling down on Domino\u2019s.<\/li>\n<\/ul>\n<ul>\n<li>[00:48:22] Vivek Maheshwari from Jefferies also asked about how the company account for the loyalty program. \u00a0Ashish Goenka CFO replied that it is accounted as discounts as per the accounting norms. And JUBLFOOD accounted basis a certain ratio of redemption based on the past trend.<\/li>\n<\/ul>\n<ul>\n<li>[00:51:17] Arnab Mitra from Goldman Sachs asked about store expansion, any approx. ratio of split store vs. completely new store and if the gap between LFL and SSSG is steady or increasing. Ashish Goenka CFO replied that split stores are one-third of total stores. Also the LFL and SSSG gap is steady. There is no deviation from what\u2019s seen in the past.<\/li>\n<\/ul>\n<ul>\n<li>[00:53:10] \u00a0Arnab Mitra from Goldman Sachs enquired if there is any inflation on the rent side. Ashish Goenka CFO answered that the company has not seen any significant inflation on the rental side. For the existing properties, JUBLFOOD has long contracts in place.<\/li>\n<\/ul>\n<ul>\n<li>[00:54:52] Avi Mehta with Macquarie Group enquired about the sudden increase in capex number in 1H23. Ashish Goenka CFO answered that overall capex has followed the company\u2019s store expansion. The per store capex has seen a margin increase in line with inflation of about 8-10%. The increase is also due to some of the opening liabilities. Overall, JUBLFOOD expects capex of close to INR650-700 crores for FY23.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Jubilant FoodWorks Limited (JUBLFOOD) Q2 FY23 Earnings Concall Management Update: [00:03:56] JUBLFOOD added 76 new stores and entered 22 new cities in India. Overall, the company opened 134 new Domino&#8217;s stores in the first half and said it is well on track to achieve the store guidance of opening 250 stores in [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Jubilant FoodWorks Limited Q2 FY23 Earnings Conference Call Insights #JUBLFOOD #Q2 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,6351,392],"tags":[10573,10169,2833,10574],"class_list":["post-136392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-consumer-stocks","category-earnings","tag-dominos","tag-earnings","tag-food-and-beverages","tag-pizza"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":130531,"url":"https:\/\/alphastreet.com\/india\/jubilant-foodworks-limited-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":136392,"position":0},"title":"Jubilant FoodWorks Limited Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"June 7, 2022","format":false,"excerpt":"https:\/\/youtu.be\/u_kWHBcF1k0 Key highlights from Jubilant FoodWorks Limited (JUBLFOOD) Q4 FY22 Earnings Concall Management Update: JUBLFOOD said it opened the highest ever 80 new stores in a quarter for Domino's India and entered 17 new cities, thereby enhancing its reach to 337 cities. The company added that it intends to continue\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":135819,"url":"https:\/\/alphastreet.com\/india\/jubilant-foodworks-limited-q2-fy23-revenue-increased-by-16-6\/","url_meta":{"origin":136392,"position":1},"title":"Jubilant Foodworks Limited Q2 FY23; Revenue Increased By 16.6%","author":"Hardik Bhandare","date":"November 8, 2022","format":false,"excerpt":"Jubilant Foodworks Limited (NSE: JUBLFOOD) reported Q2FY23 result with a Revenue growth of 16.6% up to \u20b91,301.48 Crores from \u20b91,116.18 Crores year on year. The Net Profit increased by 9.7% to \u20b9131.52 Crores from \u20b9119.82 Crores in the same period. The Earnings per share is \u20b91.99 for this quarter.","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/0c7a4d99-6187-4a68-9766-baf5c5e86bdf-1-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/0c7a4d99-6187-4a68-9766-baf5c5e86bdf-1-scaled.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/0c7a4d99-6187-4a68-9766-baf5c5e86bdf-1-scaled.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/0c7a4d99-6187-4a68-9766-baf5c5e86bdf-1-scaled.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/0c7a4d99-6187-4a68-9766-baf5c5e86bdf-1-scaled.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/0c7a4d99-6187-4a68-9766-baf5c5e86bdf-1-scaled.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":139772,"url":"https:\/\/alphastreet.com\/india\/jubilant-foodworks-limited-q3-fy23-net-profit-slides-by-40\/","url_meta":{"origin":136392,"position":2},"title":"Jubilant Foodworks Limited Q3 FY23; Net Profit Slides By 40%","author":"Hardik Bhandare","date":"February 1, 2023","format":false,"excerpt":"Jubilant Foodworks Limited (NSE: JUBLFOOD) reported an increased of 10% in Revenue year over year, to \u20b91,331.81 Crore from \u20b91,210.77 Crore. The Consolidated PAT slides 40% to \u20b980.36 Crore from \u20b9133.19 Crore year on year. Earnings per share is \u20b91.22 for this quarter.","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/dd4c48ae-c921-4ab0-9b95-0849cf6ed0ba-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/dd4c48ae-c921-4ab0-9b95-0849cf6ed0ba-scaled.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/dd4c48ae-c921-4ab0-9b95-0849cf6ed0ba-scaled.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/dd4c48ae-c921-4ab0-9b95-0849cf6ed0ba-scaled.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/dd4c48ae-c921-4ab0-9b95-0849cf6ed0ba-scaled.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/dd4c48ae-c921-4ab0-9b95-0849cf6ed0ba-scaled.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":124821,"url":"https:\/\/alphastreet.com\/india\/jubilant-foodworks-ltd-jublfood-q1-fy22-earnings-concall\/","url_meta":{"origin":136392,"position":3},"title":"Jubilant FoodWorks Ltd (JUBLFOOD) Q1 FY22 Earnings Concall","author":"Sahil_Anand","date":"July 21, 2021","format":false,"excerpt":"Jubilant FoodWorks Ltd (NSE:JUBLFOOD) Q1 FY22 Earnings Concall dated\u00a0July. 21, 2021","rel":"","context":"In &quot;Consumer&quot;","block_context":{"text":"Consumer","link":"https:\/\/alphastreet.com\/india\/category\/consumer-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/09\/Jubilant-FoodWorks-Ltd-Q1-FY22-Earnings-Concall.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/09\/Jubilant-FoodWorks-Ltd-Q1-FY22-Earnings-Concall.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/09\/Jubilant-FoodWorks-Ltd-Q1-FY22-Earnings-Concall.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/09\/Jubilant-FoodWorks-Ltd-Q1-FY22-Earnings-Concall.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/09\/Jubilant-FoodWorks-Ltd-Q1-FY22-Earnings-Concall.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/09\/Jubilant-FoodWorks-Ltd-Q1-FY22-Earnings-Concall.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":143019,"url":"https:\/\/alphastreet.com\/india\/earnings-summary-of-jubilant-foodworks-limited-for-q3-fy23\/","url_meta":{"origin":136392,"position":4},"title":"Earnings Summary Of Jubilant Foodworks Limited For Q3 FY23","author":"Hardik Bhandare","date":"February 28, 2023","format":false,"excerpt":"Jubilant FoodWorks Limited (NSE: JUBLFOOD) is one of the largest food service companies in India. It is the master franchisee of Domino's Pizza in India, Sri Lanka, Bangladesh, and Nepal, and also has its own brand of quick service restaurants called \"Hong's Kitchen.\" JFL operates over 1,300 Domino's Pizza outlets\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":170133,"url":"https:\/\/alphastreet.com\/india\/jubliant-foodworks-q1-fy26-earnings-results\/","url_meta":{"origin":136392,"position":5},"title":"Jubliant FoodWorks Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"August 13, 2025","format":false,"excerpt":"Jubilant FoodWorks Limited (JFL), part of the Jubilant Bhartia Group, is one of India\u2019s largest food service companies. It holds the master franchise rights for international brands Domino\u2019s Pizza and Dunkin' Donuts, catering to different food segments, and recently added Popeyes to its portfolio. The company also launched its first\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"JUBLFOOD Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/jub.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/jub.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/jub.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/jub.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/jub.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/jub.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/136392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=136392"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/136392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=136392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=136392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=136392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}