Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Sep
Source: Bse
Jubilant Foodworks Limited (JUBLFOOD)
Mid CapConsumer stocks · Mid cap · NSE
Jubilant FoodWorks is a multi-brand food-tech company operating 3,636 QSR stores across India, Turkey, Bangladesh, Sri Lanka, Azerbaijan, and Georgia. It is the largest QSR player for 30 years, 1.7x the size of its nearest competitor, focusing on delicious food, breakthrough technology, and operational excellence.
Data qualityFresh enough for analysisQuote updated 21 Oct, 09:17 am ISTDetails
Quote21 Oct, 09:17 am IST
Base fundamentals16 Oct 2026 · screener
Latest result13 Aug, 02:30 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
31BearishSMA20 -7.7% / mo · MACD − · near 52W low · sector -3.9pp vs Nifty 500 (3M)
Stock trend: 28
Sector RS: 35
Sector 3M: -8.3% vs Nifty 500 -4.4%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
JUBLFOODD candles · FIT view-14.2%TODAY · PROVISIONALLatest price ₹414.10 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
+0.1%
RSI
32
MACD hist
-2.75
52W pos
3%
2026-10-21O ₹413.50H ₹415.00L ₹412.80C ₹414.10Vol 22,812 shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
JUBLFOODNifty Consumer DurablesNifty 500
- JUBLFOOD
- -2.7%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- +2.9 pp
Chart stats
19 Oct 2026- From 52W high
- -33.6%
- 52W range position
- 2%
- ATR (14)
- 3.1%
- Volume vs 20D
- 0.50x
- Avg traded value
- ₹66.3 Cr
- 20D price channel
- ₹412 - ₹503.6
₹623
₹408.6 - ₹623
₹13
Latest completed session
20-session average
34.7% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management trust is supportive, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST39
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average45
Revenue +13.7% · PAT +6.4% YoY
Technical
Bearish31
Price trend and sector-relative-strength timing.
Valuation
Legacy model-89.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Healthy Trust82
medium confidence · 4/4 claims checked
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 45/100Rev +14% YoY · PAT +6% YoY · margin expansion
Filed 13 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,570 Cr | +13.7% | +2.8% |
| EBITDA | ₹504 Cr | +15.1% | +3.9% |
| Operating margin | 20.0% | +100 bps | +100 bps |
| PAT | ₹100 Cr | +6.4% | +21.9% |
| PAT margin | 3.9% | -27 bps | +61 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 73.20
- P/B
- 12.19
- EV/EBITDA
- 12.63
- Market Cap
- 27898.00Cr
Profitability
- ROE
- 21.00%
- ROCE
- 14.80%
- ROA
- 4.80%
- Dividend Y
- 0.28%
Growth (CAGR)
- Revenue 5Y
- 23.00%
- EPS 5Y
- 14.00%
- Revenue 3Y
- 23.00%
- EPS 3Y
- 8.00%
Balance Sheet
- Debt/Equity
- 2.14
- Interest Coverage
- 3.57×
- Altman Z
- 4.39
- Book Value
- 34.70
Cash Flow
- FCF Yield
- 2.90%
- FCF Positive Y
- 10/5
- OCF
- 1894.00 Cr
- EPS TTM
- 6.57
Shareholding
- Promoter Hold
- 40.27%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 7%
Financial History
Updated 18/10/2026
Revenue
₹ CrLatest: 2,570+2.8% vs prev
Net Profit
₹ CrLatest: 100+22.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 32.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~9.1% over last month) — short-term momentum negative.
- RSI(14) at 32 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
20
RS percentile
Stage 1 Base / Transition
1M return
-17.3%
3M return
-2.7%
6M return
-16.1%
1Y return
-31.2%
RS 1D
-2
RS 20D
-19
Sector rank
#8
Industry rank
#21
Stage evidence
- Price is 8.8% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed -1.3% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 70.27-0.04%
RS vs Nifty 50070
Valuation & peers
U-Score 39 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 39 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth12/25
Quality13/20
Balance Sheet1/15
Cash Flow7/10
Piotroski
7/9 (+5)
Penalties
1
Raw sum
39
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
39/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 7/9.
- Cash flow contributes 7/10 to the score.
- Quality contributes 13/20 to the score.
Main drags
- Fair-value margin of safety is negative at -89.3%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Balance sheet is weaker at 1/15; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
73.2
PB
12.2
EV/EBITDA
12.6
ROE
21.0%
ROCE
14.8%
FCF Yield
2.9%
Debt/Equity
2.1
MoS
-89.3%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
39
Previous: 39
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-89.3%
Previous: -89.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
39
39
39
39
39
39
39
39
39
39
39
39
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹71.62
-478.2% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹218.78
-89.3% MoS
PEG
6.31
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
VGUARD
Micro
V-Guard Industries Limited
Retail
match 99
39
33.9
14.4%
-9%
WATCHLIST
SWANDEF
Small
Swan Defence and Heavy Industries Limited
Retail
match 98
24
44.4
-124.0%
-33%
OVERVALUED
TRAVELFOOD
Large
Travel Food Services Limited
Retail
match 98
60
33.2
35.3%
+1%
UNDERVALUED
MANYAVAR
Micro
Vedant Fashions Limited
Retail
match 97
56
31.8
18.8%
+4%
FAIR VALUE
WESTLIFE
Micro
WESTLIFE FOODWORLD LIMITED
Retail
match 96
24
—
-3.8%
-576%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-06-15T07:13:21.462Z
Management commentary snapshot
Q4FY26 consolidated revenue grew 19.3% YoY with EBITDA margin up 69bps. India standalone revenue grew 6.4% YoY, but LFL growth for Domino's was a weak 0.2% YoY despite 10.4% order growth, indicating pricing pressure. International markets showed strong growth.
The strong consolidated top-line and international performance mask underlying weakness in the core India Domino's business, where LFL growth is near flat despite robust order growth. This suggests significant pricing pressure or mix degradation. While gross margins improved in India, operating leverage was offset by wage and energy inflation, leading to a YoY decline in standalone PAT margin.
Current business mix
Revenue by Geography (Q4FY26)
Latest issuer-disclosed distribution across 4 reported categories.
India67.2%
Turkey (incl. Azerbaijan & Georgia)30.6%
Sri Lanka1.5%
Bangladesh0.8%
Growth engines
International Market Expansion
Turkey, Sri Lanka, and Bangladesh delivered strong revenue growth (59.2%, 61.4%, 29.4% YoY respectively in Q4FY26) and LFL growth.
Store Network Expansion
Added 69 net stores worldwide in Q4FY26 and 351 net stores in FY26, expanding Domino's to 10 new cities in India.
Popeyes Growth Trajectory
Popeyes showed strong growth with SSG of 28% in FY26 and added 5 stores in Q4FY26, expanding to Pune.
Digital & Tech Innovation
Own apps' MAU grew 25% YoY and MTU grew 18% YoY in Q4FY26, driven by tech innovation like GenAI Chatbot and Popeyes 2.0 App.
Capacity and execution
Global Store Additions (Q4FY26)
69 net stores added worldwide, including 59 in India and 8 in Turkey.
Global Store Additions (FY26)
351 net stores added worldwide, including 289 in India, 58 in Turkey, 3 in Sri Lanka, and 1 in Bangladesh.
India Domino's City Expansion
Expanded Domino's footprint to 10 new cities in India during Q4FY26.
India Popeyes Footprint
Added 5 Popeyes stores in Q4FY26, increasing total to 78, and entered Pune.
Tailwinds
Favorable Demographics
Median age in JFL's operating markets is under 35, driving strong QSR demand from GenZ and Gen Alpha.
Rising Discretionary Spending
Expanding middle-income class and increasing discretionary spend, with consumers gravitating towards branded chains for trusted quality.
Digital Adoption Trend
Rapid growth in smartphone penetration and increasing adoption of online commerce in key markets.
International Refinancing Benefits
Improvement in Turkey's PAT margins due to refinancing of a loan from Lira to Euro.
Headwinds
Domestic Cost Inflation
India standalone Adjusted EBITDA margin shrunk by 10 bps YoY in Q4FY26 due to inflation in wage cost and energy cost.
Risk radar
India Domino's Pricing Power
Strong 10.4% order growth in India Domino's but only 0.2% LFL growth in Q4FY26 suggests potential pricing pressure or adverse mix shift.
Discontinued Operations
Dunkin reclassified as discontinued operations in current and prior periods, indicating challenges in managing certain brand portfolios.
Currency and Inflation Volatility
International financials, particularly Turkey, are subject to inflation-adjusted accounting (IAS 29) and currency conversion risks.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The QSR business experiences seasonal demand fluctuations, making year-over-year comparisons more reliable for assessing underlying performance trends and growth. The presentation primarily highlights YoY changes for key financial metrics.
Sector KPIs management disclosed
India Domino's LFL Growth
LFL growth of 0.2% YoY in Q4FY26.
India Domino's Order Growth
Strong order growth of 10.4% YoY in Q4FY26.
India Standalone Gross Margin
Gross Margin expanded ~100 bps YoY to 75.5% in Q4FY26, driven by accretive SKUs and reduced wastage.
India Standalone Adjusted EBITDA Margin
Adjusted EBITDA margin shrunk by 10 bps YoY to 12.0% in Q4FY26 due to inflation in wage and energy costs.
Management forward view
India LFL Growth Outlook
Management expects Domino's LFL growth to be within the medium-term guidance range of 5-7%, despite Q4FY26 being 0.2%.
Gross Margin Improvement Drivers
India's gross margin expanded due to increasing share of gross margin accretive SKUs and reduction in wastage.
Cash Flow Generation
International business continues to generate strong cash flows and repatriate dividends.
RoCE Expansion
India's RoCE expanded in FY26, driven by improved utilization of supply chain and tech assets as the business scaled.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| India Domino's LFL Growth | 0.2% YoY in Q4FY26 | Return to management's medium-term guidance range of 5-7% and narrowing gap with order growth. |
| India Standalone Adjusted EBITDA Margin | 12.0% in Q4FY26 (down 10bps YoY) | Stability or improvement amidst ongoing wage and energy cost inflation. |
| International Market Profitability | Turkey PAT margin 7.5% in Q4FY26 | Sustained PAT margins and continued strong revenue/LFL growth across international geographies. |
| Own App User Growth | MAU up 25% YoY, MTU up 18% YoY in Q4FY26 | Continued momentum in digital adoption and user engagement to drive direct orders. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
revenue outlookdeliveredquantified
India Domino's business is targeted to increase store expansion by 7-10%.
Timeframe: implied for the period of 15% overall growthDirection: increaseConfidence: high
"we should increase 7% to 10% on the store expansion."
Outcome check: Revenue YoY averaged 16.1% across 2 later quarter(s).
revenue outlookdeliveredquantified
India Domino's business is targeted to grow closer to 15% year-on-year.
Timeframe: year-on-yearDirection: increaseConfidence: high
"we want the India Domino’s business to grow closer to 15% year-on-year."
Outcome check: Revenue YoY averaged 16.1% across 2 later quarter(s).
revenue outlookdeliveredquantified
India Domino's business is targeted to achieve 5-7% like-for-like growth.
Timeframe: implied for the period of 15% overall growthDirection: increaseConfidence: high
"roughly 5% to 7% should come from like-for-like growth"
Outcome check: Revenue YoY averaged 16.1% across 2 later quarter(s).
revenue outlookdelivered
Sales momentum will carry forward in Q3 2026.
Timeframe: Q3 2026Direction: positive/increaseConfidence: high
"We see momentum carrying forward in Q3 2026"
Outcome check: Revenue YoY averaged 16.1% across 2 later quarter(s).
Trust Score
82Healthy Trust · medium confidenceClaim-tested Trust
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Management has 100% delivered/partly-delivered outcomes on 4 checked claims. It ranks around the 94th percentile of the scored universe and 97th percentile within Consumer. Main check: balance sheet trust is weak at 48/100.
High Trust: 4/4 extracted management claims have outcome checks; 100% were fully delivered and 0 were partially delivered. 4/4 matched management claims were delivered.
Computed 21 Oct 2026
management-trust-v1
52 extracted concalls · 4/4 claims matched
Score band
Healthy Trust
Generally investable credibility. Look for weak sub-scores before increasing position size.
Relative rank
94th percentile
overall median 67 · Consumer: 97th pctile, median 66 · Mid: 81st pctile, median 76
Evidence depth
Early sample
4/4 claims checked. Use as directional, not final.
Claim delivery
100% delivered or partly delivered
4/4 claims checked · No contradicted claim yet
How to read this Trust Score
Healthy Trust · medium confidenceWhat it measures
Reliability of management and financial delivery, using management claims matched with later outcomes.
Confidence
Useful directional evidence exists, but still verify the latest filings.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
48
watch · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
90
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.9%.
- ▸10 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Debt/equity is 2.14.
- ▸3 older quarters in the 8-quarter window had PAT decline worse than 25% YoY.
Continue researching Jubilant Foodworks Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep - Please find attached Schedule of Institutional Investor Conference
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Aug
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.