Jubilant Foodworks Ltd. share price target

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Jubilant FoodWorks’ (JFL) Q1FY27 provides early evidence of an improving operating momentum. Domino’s India LFL recovered to 2.5% from 0.2% in Q4FY26, while 6.5% YoY order growth and 12.1% delivery revenue growth indicate better underlying demand than the LFL headline suggests.

JUBI reported 9% YoY standalone revenue growth in 1QFY27 (in line). Domino’s LFL growth improved to 2.5% (0.2% in 4QFY26) on a high base of 12%, and orders grew 6.5% YoY.

*over or under performance to benchmark index JLF continues to demonstrate strong brand strength, healthy delivery traction, in its medium-term growth path. Management also remains focused on customer value, cost control, supply-chain efficiency, and improving execution across newer brands, which should aid business quality over time. However, the latest quarter suggests that demand in the dine-in and takeaway segments remains softer than expected, while the competitive environment has required sharper value actions that could delay margin recovery. At the same time, near-term pressure from employee...

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Domino's India sustained a strong delivery-led momentum, with 10%+ of order growth and a continued network expansion

In Q3FY26, the company demonstrated double-digit revenue growth, margin expansion, operational efficiency and rapid store expansion across markets. Robust growth in the Sri Lanka and Bangladesh businesses, along with the Turkey business meeting its acquisition debt obligations through its own cash flows, is expected to increase shareholder value in the future. Judicious capital allocation, along with continued investment in the supply chain, technology and store expansion to over a target of 5,000 stores , is expected to drive long-term growth. Rising middle-income class with increased discretionary spending, rapid smartphone penetration, online...

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Domino's India maintains a steady momentum with consistent growth and a dominant share in the Delivery channel

We maintain Buy on JUBI with unchanged TP of Rs825 (34x Sep-27 EBITDA), on assuring management commentary around delivering mid-teen topline growth along with gradual margin gains – both have been key investor concerns in our view.

Among all QSR players, Jubilant FoodWorks (JUBI) has delivered the best performance in Q2FY26, with 9.1% YoY LFL growth in Domino’s India led by strong 16.5% YoY LFL growth in delivery channel.

Jubilant FoodWorks (JUBI) reported 16% YoY growth in standalone revenue to INR17b in 2QFY26 (in line). Domino’s reported order growth of 15% with LFL growth of 9%.

Demand has remained steady but has yet to show material pickup. JUBI expects demand recovery to begin from 3QFY26, supported by GST reforms.

JFL delivered robust financial results in Q1FY26, marked by healthy top-line growth and disciplined profitability, despite navigating a challenging demand environment. The demand environment is expected to improve on a QoQ basis. The company has accelerated key initiatives, including menu innovation, expansion of digital assets and enhancements to delivery capabilities, with a focus on achieving 20-minute delivery. Concurrently, Popeyes is being scaled up with the aim to establish it as...

JFL clocked an 11.6% LFL growth (delivery LFL growth of 20.1%) in Domino’s’ India in Q1FY26 amid subdued demand.

JUBI is sustaining focus on aggressive growth through store expansion, digital investment and calibrated price hikes product innovations and digital investments. We expect healthy double digit earnings growth in coming quarters led by 1) improving demand scenario and 2) robust innovation and 3) sustained efforts on providing superior value to...

JFL delivered 12.1% LFL growth (delivery LFL growth of 21.9%) in Domino’s’ India in Q4FY25 amid subdued demand, beating peers for another quarter. Standalone performance was good, with revenues growing by 19.2% y-o-y to Rs. 1,587 crore on strong delivery-led growth in Domino’s.

with LFL growth of 12.1% (12.5% in 3Q) 2) Lower discounting amidst robust extended version of Rs 99( 4-course meal lunch) at higher price for delivery customers. We increase our FY26/FY27 standalone EPS estimates by 10.4/12.1% as 250 dominos store opening guidance and stromg LFL growth will...

High valuations overshadow strong growth