However, we now believe that JUBI will be among the key beneficiaries of the cut in corporate tax to 25.2%, as it adds around 13% to its PAT. On the third factor, the corporate tax cuts provide an opportunity to JUBI to offer discounts and promotions and thus eat into the share of unorganized players. It can spend a significant part of the INR450-500m incremental PAT on promotions/price offs in an attempt to gain market share. Four points are competitors would have such windfall gains, and if they choose to match JUBIs efforts on promotions and price offs, they would end up bleeding further. corporate tax cuts offer multi-year benefits to JUBI, providing it with incremental benefit every year until competitors scale up well. Aggression in terms of price cuts/promotional spends if judicial will also drive faster conversion of customers from other restaurant businesses to Dominos.