Weak margin; focus on expanding the store network

Company

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.