We reiterate our HOLD rating on the stock with a revised target price of Rs 1,240 based on 40x FY21E adj. EPS. Revenue growth supported by SSG against strong Q1 last year JFL registered strong growth in revenue of 9.9% YoY to Rs. 940cr (+8.7% QoQ), with improved customer demand amidst Cricket World Cup Season during the quarter. Company achieved SSG of 4.1% in Domino's Pizza, although the growth has slowed down from the double digit growth of 25.9% recorded in Q1FY19 mainly due to the company's splitting store strategy in order to tap the market and improve customer...