Jubilant FoodWorks Q2 Review - Result Better Than Expected, Immense Growth Opportunity: Motilal Oswal

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Motilal Oswal Report

Jubilant FoodWorks Ltd. reported a beat on all fronts in its Q2 FY22 result. Both store expansion and same-store-sales-growth were ahead of our estimates.

Earnings in Q2 FY22 were strong, despite the recovery in dine-in still ~47% of pre-Covid-19 levels. With the lifting of lockdown restrictions, dine-in levels are picking up significantly compared to the early part of Q2 FY22.

Delivery is sustaining at much higher than pre-Covid levels.

Jubilant FoodWorks has the best business model in the quick service restaurant space to take advantage of the enhanced growth opportunity after the lifting of Covid-related restrictions.

Its technological and logistical moats are also being strengthened further.

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