JUBLFOOD

May 7 (Reuters) - Sapphire Foods India SAPI.NS, which operates Pizza Hut and KFC restaurants in the country, reported a quarterly revenue that missed estimates on Wednesday, as demand failed to pick up despite discounts.

The restaurant operator posted revenue from operations of 7.11 billion rupees ($83.98 million) for the fourth-quarter ended March 31, compared to 6.32 billion rupees a year earlier, according to a regulatory filing.

Analysts had expected 7.14 billion rupees, according to data compiled by LSEG.

($1 = 84.6600 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Ananta Agarwal in Bengaluru)

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By Shivani Tanna and Praveen Paramasivam

May 5 (Reuters) - India's Jubilant FoodWorks' JUBI.NS strong sales growth for the March quarter is set to outpace rivals whose franchisees are expected to report muted growth despite value-focused promotions, several analysts said.

Operators of U.S. chains KFC YUM.N, McDonald's MCD.N and Burger King QSR.TO are likely to report a decline to mid-single-digit growth in same-store sales, as inflation-hit consumers cut back and local competition intensifies, according to six brokerages.

Jubilant, however, has already flagged a 12.1% increase in like-for-like sales in India in its quarterly update, which analysts say has benefited from its focus on online sales, discounts on third-party platforms, and a waiver of delivery fees on app orders.

Other franchisees have not issued sales updates. Sapphire kicks off earnings for the sector on Wednesday.

"Competitive intensity is growing in fried chicken and burger and the larger existing players like KFC and McDonald's don't have anything different to offer versus rivals," said Karan Taurani, an analyst at Elara Securities.

"Jubilant is performing the best of the lot," Taurani said, adding that its investments into 20-minute in-house delivery and app-led orders are helping reduce its reliance on third-party platforms, which rivals are heavily dependent on.

India's fast-food sector is cooling as inflation-hit consumers cut back, with franchisees relying on discounts to stay competitive in a crowded market.

Unlike Jubilant, which has pushed delivery and app-based offers, KFC and McDonald's franchisees rely more on dine-in traffic and face growing pressure from local cafes and restaurants, analysts said.

Jubilant reported a 34% jump in consolidated revenue to 21.07 billion rupees ($250.05 million) for the March quarter.

While Jubilant's digital strategy has delivered steady outperformance through the year, analysts expect its profit margins — like those of other operators — to remain under pressure in the March quarter, partly due to rising raw material and marketing costs.

Three brokerages expect Jubilant's core earnings margin — a metric the restaurant operator aims to boost over the next few quarters by tightening its costs — to be unchanged from a year earlier.

However, some analysts see fried chicken as a key long-term growth category, despite the challenge of sameness.

"If you see from a longer-term perspective, the next growth driver is the overall fried chicken category in India, but there would be some pressure for one or two quarters," said Preeyam Tolia of Axis Securities.

($1 = 84.2630 Indian rupees)

(Reporting by Shivani Tanna and Bharath Rajeswaran in Bengaluru and Praveen Paramasivam in Chennai; Editing by Nivedita Bhattacharjee)

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April 23 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• JUBILANT FOODWORKS - GETS TAX DEMAND OF 179.1 MILLION RUPEES, PENALTY OF 179.1 MILLION RUPEES

Source text: ID:nBSEbPmRP2

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March 27 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• LAUNCHES ANDROID-BASED POS SYSTEM 'ELATE'

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March 20 (Reuters) - ** Shares of Jubilant FoodWorks JUBI.NS fall as much as 2.73% to 620 rupees apiece

** Drop after CLSA says depreciation of Turkish lira is a potential risk for food service company

** Lira depreciated 5% on Wednesday and is down 8.5% YTD

** In early 2024 JUBI acquired DP Eurasia, which operates in Turkey, Azerbaijan and Georgia, and contributed 31% of JUBI's overall sales in December quarter

** JUBI's debt stands at 12.3 billion rupees ($142 million), of which 80% is payable from Turkish cashflow

** "Depreciation of the Lira would lead to additional interest cost burden for JUBI in repayment of debt taken to acquire DP Eurasia," says Aditya Soman, analyst at CLSA

** Average rating of 28 analysts tracking JUBI is "buy"; median TP is 700 rupees - data compiled by LSEG

** JUBI shares down 12.5% YTD vs 11% drop in midcap index .NIFMDCP100

($1 = 86.3825 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

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Feb 28 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• GETS ORDER DEMANDS GST OF 27.2 MILLION RUPEES

Source text: ID:nBSE15rSWK

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Feb 25 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• JUBILANT FOODWORKS- RECEIVED STATEMENT FROM SHYAM BHARTIA, CHAIRMAN, JUBILANT BHARTIA

• JUBILANT FOODWORKS- BHARTIA DENIES ALL ALLEGATIONS REGISTERED IN FIR BY POLICE

Source text: ID:nBSE9MJzdW

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Feb 12 (Reuters) - India's Jubilant Foodworks JUBI.NS reported a drop in third-quarter profit on Wednesday, as the Domino's Pizza DPZ.N franchisee's margins were dented by higher wage costs as well as raw materials such as vegetable and meat.

Jubilant reported profit of 429.1 million rupees for the quarter ended December 31, compared to a year ago profit of 657.09 million rupees

(Reporting by Ananta Agarwal in Bengaluru; Editing by Eileen Soreng)

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** Domino's India operator Jubilant FoodWorks JUBI.NS rises as much as 5% to 796.75 rupees, highest since Jan. 17, 2022

** Stock set for fourth straight session of gains

** Co says its Q3 consol rev from ops up 56.2% Y/Y, standalone rev from ops up 18.9% Y/Y

** JUBI logs most active trading session since Nov. 12, 2024, with more than 6.1 mln shares traded - 3.2x the 30-day avg

** Stock rated "hold" on avg; median PT is 630.50 rupees - LSEG

** JUBI rose 5.3% in December quarter - its third straight quarterly gain

(Reporting by Ashish Chandra in Bengaluru)

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** Domino's India-operator Jubilant FoodWorks JUBI.NS climbs 2.3% to 755.65 rupees, highest since Jan. 2022

** Jefferies ("buy") hikes PT to Street-high of 1,000 rupees, implying a 35% upside to last close

** Motilal Oswal ("neutral") raises PT by 28% to 800 rupees, 2nd-highest on Street and an 8.2% upside to last close

** All the other 26 brokerages have a PT that is below JUBI's current price, per LSEG data; their avg rating is "hold"

** Jefferies expects growth boosters --such as no delivery fee, dine-in meal at 99 rupees --to lift same-store sales growth

** JUBI CEO Sameer Khetarpal told Motilal he was optimistic on margin recovery as order volumes, operational efficiencies improve

** JUBI gained 27% in 2024, biggest annual jump since 2021

(Reporting by Manvi Pant in Bengaluru)

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Dec 26 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• ENTERED INTO A MEMORANDUM OF UNDERSTANDING WITH COCA-COLA INDIA

• PACT FOR TERMS FOR PURCHASE OF PORTFOLIO OF SPARKLING BEVERAGE PRODUCTS, OTHER PRODUCTS FROM COCA-COLA

  
  

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Corrects media packaging code; no changes to text

Dec 11 (Reuters) - Jubilant Bhartia Group said on Wednesday it will buy a 40% stake in Hindustan Coca-Cola Beverages, the largest Coca-Cola bottler in India.

(Reporting by Indranil Sarkar in Bengaluru; Editing by Savio D'Souza)

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** Shares of Jubilant Foodworks JUBI.NS jump 7.9% to 649.75 rupees

** Domino's Pizza India restaurant operator posts positive same-store sales growth for second quarter in a row, while peers still in negative territory nL4N3MI0PZ

** Jefferies says it likes JUBI's strategy of "growth over margins" and avoiding price hikes; maintains "buy"

** Elara Capital ("reduce") says JUBI will benefit most from rising trend of ordering in, rather than dining out

** Over 10.9 mln shares traded, 6x 30-day avg volume

** Analysts rate JUBI "hold", on avg -LSEG data

** But at least 9 PT hikes, incl by Jefferies and Elara, lifts the median to 620 rupees from 600 rupees last month

** JUBI extends YTD gains to 15%, most among restaurant operators

(Reporting by Nandan Mandayam in Bengaluru)

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Adds background, revenue in paragraphs 4-7

Nov 11 (Reuters) - Jubilant FoodWorks JUBI.NS, which operates the Domino's Pizza DPZ.N brand in India, posted a smaller-than-expected fall in second-quarter profit on Monday, as cheaper menu items attracted budget-conscious customers.

Consolidated net profit fell to 640.5 million rupees ($7.59 million) for the quarter ended Sept. 30 from 972 million rupees a year earlier.

Analysts had estimated 635.2 million rupees, according to data compiled by LSEG.

Persistently high inflation has prompted consumers in the world's most populous country to pare back their dine-out spending, forcing fast-food chains to roll out cheaper menu items such as Domino's' four-course meal for 99 rupees ($1.2).

This, as well as its move to open more stores, paid off as Jubilant's revenue from operations rose nearly 43% to 19.55 billion rupees for the September quarter.

The results come in contrast to Jubilant's peers' numbers.

Sapphire Foods India SAPI.NS, which operates Pizza Hut and KFC, posted a surprise loss, while Burger King operator Restaurant Brands Asia RESR.NS booked a bigger loss. Profit at Westlife Foodworld WEST.NS, which runs McDonald's, slid.

($1 = 84.3550 Indian rupees)

(Reporting by Praveen Paramasivam and Ashna Teresa Britto; Editing by Janane Venkatraman)

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Nov 7 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• JUBILANT FOODWORKS - TO INVEST UPTO 400 MILLION RUPEES IN JUBILANT FOODWORKS NETHERLANDS B.V.

Source text: [ID:]

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Oct 24 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• GOT TAX DEMAND ORDER FOR 2.16 BILLION RUPEES

Source text for Eikon: ID:nBSE1cpV7F

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- Source link: (https://shorturl.at/Cl158)

- Note: Reuters has not verified this story and does not vouch for its accuracy

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Oct 1 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• GETS FINAL ASSESSMENT ORDER RAISING TAX DEMAND OF 707.9 MILLION RUPEES

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By Praveen Paramasivam

CHENNAI, Sept 25 (Reuters) - Indian fast-food chain Wow Momo Foods plans to go public within two years, its CEO said, as the popular dumpling brand aims to replicate the rapid expansion of Domino's Pizza in the world's most populous country.

India's $5 billion fast-food sector has seen significant growth, driven by rising demand among low- and middle-income families.

Valued at 25 billion rupees ($299.33 million) with a network of 650 stores, Wow Momo plans to become the first major local fast-food chain to go public, riding on this shift in consumer behavior.

Tiger Global-backed Wow Momo, which reported revenue of nearly 4.8 billion rupees ($57.47 million) for the fiscal year ending in March, is aiming to double its revenue to 10 billion rupees over the next 30 months, co-founder and CEO Sagar Daryani told Reuters late on Tuesday.

"The public markets are really, really growing ... One homegrown fast-food chain IPO in India will change the script for fast-food play (in the country)," Daryani said.

India's booming stock market .NSEI has hit record highs over 50 times this year, with nearly 200 companies, including e-scooter maker Ola Electric OLAE.NS and telecom operator Bharti Hexacom BHAX.NS, raising billions.

In the restaurant sector, franchisees of Western brands like KFC, McDonald's MCD.N, Burger King, and Domino's DPZ.N have gone public in the past decade. One of the most recent local listing was of Barbeque-Nation Hospitality BARQ.NS, which went public three years ago.

Shares of Bengaluru, Karnataka-based Barbeque-Nation have climbed nearly 28% from their IPO price despite seeing some challenges with footfalls among inflation-weary consumers.

Daryani said he plans to replicate Jubilant FoodWorks JUBI.NS's success, which has expanded Domino's from a single store in India in 1996 to over 1,800 outlets.

Wow Momo, which offers savory dumplings priced between 109-369 rupees ($1.31-$4.42) per serving, plans to increase its store count to 1,000 and become profitable on the basis of a core earnings metric within two years.

While the company experienced a dip in same-store sales from October to May, mirroring a broader slowdown in the Indian fast-food space, sales have recovered, turning positive from June to September, Daryani added.

($1 = 83.5200 Indian rupees)

(Reporting by Praveen Paramasivam; Editing by Nivedita Bhattacharjee)

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BENGALURU, Aug 9 (Reuters) - Jubilant FoodWorks JUBI.NS, Domino's Pizza's DPZ.N Indian franchisee, reported a rise in first-quarter profit on Friday, as value meals attracted budget-conscious customers.

Consolidated net profit rose to 558 million rupees ($6.65 million) for the quarter ended June 30, from 289.2 million rupees a year earlier, it said in an exchange filing.

($1 = 83.9250 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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June 28 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• PROPOSED INTERNAL RESTRUCTURING OF CERTAIN OVERSEAS UNITS IS BEING DEFERRED TILL FURTHER INTIMATION

Source text for Eikon: ID:nBSE8LMcqX

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Adds analyst estimates on likely inflows into Adani Ports in paragraph 5

By Bharath Rajeswaran

BENGALURU, May 24 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS will replace Wipro WIPR.NS in the 30-stock blue-chip S&P BSE Sensex .BSESN, the operator of the index said on Friday.

The BSE, in its semi-annual rebalancing exercise, included the country's largest private port operator, making it the first Adani Group company to join the Sensex, effective June 24.

The Sensex ended the session muted ahead of the announcement. .BO

Two Adani Group companies - Adani Enterprises ADEL.NS and Adani Ports are already part of the other benchmark index NSE Nifty 50 .NSEI.

Adani Ports could see inflows of $252 million after inclusion into the Sensex, while Wipro will likely witness outflows worth $161 million, said Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research.

Adani Ports' inclusion into the Sensex came on the same day when shares of Adani Enterprises recovered in intraday trade to levels last seen in January 2023, before a report by Hindenburg Research triggered a sell-off in Gautam Adani's ports-to-power conglomerate.

Since that report, Adani Ports and Adani Power ADAN.NS have been the best-performing group stocks, rising 86.04% and 157.4%, respectively. They were also the first two Adani companies to bounce back from the drop.

Earlier in May, Adani Ports posted a 76% rise in its fourth-quarter profit, helped by record cargo volumes.

Its stock has jumped 6% this week, its best weekly performance since early February.

Besides the Sensex rejig, REC RECM.NS, HDFC Asset Management HDFA.NS, Canara Bank CNBK.NS, Cummins India CUMM.NS and Punjab National Bank PNBK.NS have been included in the BSE 100 index .BSE100.

The stocks replaced in that index are Page Industries PAGE.NS, SBI Cards and Payment Services SBIC.NS, ICICI Prudential Life Insurance ICIR.NS, Jubilant FoodWorks JUBI.NS and Zee Entertainment Enterprises ZEE.NS.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sohini Goswami and Varun H K)

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** Shares of Jubilant Foodworks JUBI.NS up as much as 4.7%to 502.40 rupees; last up 1.2%

** Domino's India franchisee reported a jump in Q4 profit, benefiting from a one-time gain and more store openings

** Profit before tax stood at 2.25 bln rupees ($27 mln) for the March-qtr, which included a one-time gain of 1.70 bln rupees from revaluing its investment in DP Eurasia N.V. when it acquired more shares

** Nuvama Institutional Equities flags that for JUBI's valuations to improve, a revival in same store sales growth and like-for-like growth is critical

** Expecting a gradual recovery, FY25 and FY26 earnings estimates are cut by 6% and 1%, respectively; revised target price is 487 rupees from 498 rupees - Nuvama

** Average rating of 28 analysts covering stock is "hold"; median PT is 499 rupees - LSEG data

** Including session's move, stock is down 14.6% YTD

($1 = 83.2940 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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BENGALURU, May 22 (Reuters) - Jubilant FoodWorks JUBI.NS reported a more than seven fold jump in quarterly profit on Wednesday as the Domino's Pizza's DPZ.N Indian franchisee benefited from steady online demand and easing prices of some ingredients.

Consolidated net profit rose to 2.08 billion rupees ($25 million) for the fourth-quarter ended March 31, from 285.4 million rupees a year earlier, Jubilant said in an exchange filing.

($1 = 83.2410 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru and Praveen Paramasivam in Chennai; Editing by Janane Venkatraman )

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Adds details

BENGALURU, May 10 (Reuters) - Sapphire Foods India SAPI.NS, which operates the Pizza Hut and KFC chains of restaurants, posted its biggest profit fall since listing and missed estimates on Friday, as inflation-weary customers continued to cut back on dining out and ordering in.

The Yum Brands YUM.N franchisee's consolidated net profit fell 98% to 23.9 million Indian rupees ($286,271.4) for the quarter ended March 31, marking its fourth straight quarterly profit fall.

Analysts, on average, had expected a profit of 44.5 million rupees, according to LSEG data.

Shares of the company, which went public in November 2021, fell as much as 3.3% after the results.

India's quick-service restaurants struggled throughout the fiscal year to lure in customers, who cut back spending due to sticky inflation. The country's food inflation, which accounts for nearly half of the overall consumer price basket, has remained high so far this year.

Sapphire Foods's restaurants launched new items at lower prices, as well as valued-added meals such as Pizza Hut's launch of a cheesy pizza-sandwich meal called Melts priced at 259 rupees and above, but customers could not be swayed.

Expenses rose 15% as raw material prices climbed 9.4%. Revenue climbed 12.7% to 6.2 billion rupees.

Rival McDonald's India franchisee Westlife WEST.NS also posted a 96% slide in fourth-quarter profit on frail demand.

Devyani International DEVY.NS, which also operates KFC outlets in the country, and Domino's India-franchisee Jubilant FoodWorks JUBI.NS are yet to report results.

($1 = 83.4872 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Janane Venkatraman)

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By Navamya Ganesh Acharya and Praveen Paramasivam

BENGALURU/CHENNAI, April 24 (Reuters) - Top fast-food franchisees in India are likely to report a slump in quarterly earnings as cash-strapped consumers continued to cut back on dining out and ordering in, analysts said, spurning the hundreds of new restaurants that operators opened in 2023.

Pizza franchisees such as Jubilant Foodworks JUBI.NS, Devyani International DEVY.NS and Sapphire Foods India SAPI.NS struggled throughout 2023 due to heightened competition, with burger chains also joining the struggle later in the year due to inflation.

Even new affordable menu items, such as Burger King's 99-rupee combination of burger, beverage, and fries, introduced last year, failed to lure customers as India's monthly inflation rate remained above the target rate so far this year.

"Earlier you might be visiting (fast-food chains) three or four times monthly. Now everyone is restricting to once or twice," said Kranthi Bathini, equity strategist at WealthMills Securities.

Analysts polled by LSEG estimate net income slumping between 54% and 97% in the March quarter for Devyani and Sapphire, which run the Pizza Hut chain of restaurants, and McDonald's operator Westlife Foodworld WEST.NS.

They expect a net loss at Burger King operator Restaurant Brands Asia RESR.NS to widen sequentially, also marking at least a 12th consecutive quarterly loss.

Same-store sales are also likely to fall across the board, analysts say, with the decline expected to be more pronounced at Pizza Hut stores at more than 10%.

However, this has not deterred franchisees - including Sapphire and Devyani, which also run KFC stores, - from opening new restaurants nationwide, from Kalimpong hill town in West Bengal to Shoolagiri village in Tamil Nadu.

While restaurant operators and analysts expect the aggressive store opening plans to drive long-term growth, it has not immediately translated to earnings growth, also squeezed by stiff competition from local rivals.

Local pizzerias such as La Pino'z are mounting pressure on international counterparts, while Restaurant Brands and Westlife face competition from regional players such as Jumboking and Biggies Burger.

Westlife kicks off restaurant earnings on May 8 in India, while others are expected to report in the following days.

Like consumer goods analysts, restaurant experts also expect a rebound in demand in the second half of the financial year - roughly from October onwards - on rising expectations of the cost of living easing.

(Reporting by Navamya Ganesh Acharya in Bengaluru and Praveen Paramasivam in Chennai; Editing by Janane Venkatraman )

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March 29 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• JUBILANT FOODWORKS - ACQUIRES STAKE IN O2 RENEWABLE ENERGY XVI

Source text for Eikon: ID:nBSE8ctN6Q

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March 27 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• RECEIVED AN ORDER LEVYING DEMAND OF 171.2 MILLION RUPEES

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March 1 (Reuters) - Jubilant Foodworks Ltd JUBI.NS:

• SUMAN HEGDE JOINS AS CHIEF FINANCIAL OFFICER OF JUBILANT FOODWORKS

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Adds stock reaction; paragraphs 8, 14

By Dhwani Pandya and Praveen Paramasivam

MUMBAI, Feb 27 (Reuters) - India's western state of Maharashtra will inspect outlets of global fast-food brands to check if they use cheese alternatives in products wrongly promoted as containing real cheese, widening scrutiny beyond a crackdown on McDonald's, a top official said.

The checks threaten to cause a headache for global brands after recent inflationary pressure hit consumption of burgers and pizzas that are pricey for many Indian consumers, prompting firms to launch of discounted offerings.

McDonald's MCD.N biggest India franchisee, Westlife Foodworld, WEST.NS has been defending its use of "real cheese" after media reported that state authorities last year found some products made use of so-called cheese analogues of vegetable oil, rather than real cheese.

The McDonald's franchisee disagreed with the findings, but in December it dropped the word "cheese" from the names of many burgers and nuggets it sells statewide, letters seen by Reuters show.

It renamed a "corn and cheese burger" as an "American vegetarian burger", for example.

Inspectors of the state's Food and Drug Administration will now visit all McDonald's outlets, as well as those of other major brands, to check for similar violations of display and labelling rules, its chief, Abhimanyu Kale, told Reuters.

"We are planning to check all outlets of McDonald's," he said. "We will also take action on other well-known and frequently visited global fast-food chain outlets," he added, but declined to identify the brands being targeted.

Shares of Westlife plunged as much as 6.7% after the Reuters report.

Another senior state government official, who sought anonymity, said inspectors would visit Indian franchisee outlets of brands such as Domino's DPZ.N, Pizza Hut, Burger King and KFC.

Indian state authorities have the power to suspend the licences of restaurants found to have infringed food and safety regulations in a way that misleads consumers.

Westlife, which runs McDonald's in west and south India, will welcome any inspections and maintains the "highest standards", its managing director, Saurabh Kalra, said.

Domino's franchisee Jubilant FoodWorks JUBI.NS, Burger King operator Restaurant Brands Asia RESR.NS and Devyani International DEVY.NS, which operates Yum Brands' YUM.N Pizza Hut and KFC in India, did not respond to Reuters queries.

Another Pizza Hut operator, India's Sapphire Foods SAPI.NS, declined comment.

Devyani shares slipped on Tuesday's news to trade down 4%.

India's western state of Maharashtra is its second most populous. Home to the financial capital Mumbai, which has about 100 McDonald's outlets, and many other urban cities, it is a key market for global fast-food brands.

In the McDonald's case, state food inspectors suspended the licence of one outlet east of Mumbai in November for allegedly using analogues in products promoted as containing cheese.

The suspension was later revoked on appeal by Westlife, the franchisee.

The company reassured many consumers online who voiced concerns about its cheese offerings, saying on social network X that it uses "globally approved gold-standard suppliers".

"Our cheese is made from real milk only and we do not use any substitutes or cheese analogues," it said on Monday.

(Editing by Aditya Kalra and Clarence Fernandez)

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