Weak margin; focus on expanding the store network

23 May 2024
5 Min read 
  • Jubilant FoodWorks (JUBI) sales grew 6% YoY to INR13.3b in 4QFY24.
  •  Dominos LFL turned positive after four quarters at 0.1%.
  •  The delivery business performed well, growing at 12% YoY and increasing its share to 68%.
  •  Dominos added 67 new stores and entered 14 new cities in 4Q.
  •  Weak operating margin due to higher depreciation and reinvestment in the business.
  •  Reiterate Neutral with a TP of INR480.
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