Mumbai-Jubilant FoodWorks Limited (JFL) today reported its financial results for the quarter and year ended 31st March, 2019.
Operating Revenues for Q4 FY19 stood at Rs. 8,652 million, representing an increase of 10.9% over the same period last year. The revenue growth was driven by Same Store growth (SSG) of 6.0% and new stores opened during the year in Domino’s Pizza.
EBITDA for Q4 FY19 was Rs. 1,476 million, or 17.1% of revenue, a growth of 15.5% over Q4 FY18 and a margin expansion of 70 bps.
Profit after Tax in Q4 FY19 stood at Rs. 739 million, or 8.5% of revenue, a growth of 8.6% over Q4 FY18.
For the full year FY 2018-19, Operating Revenues stood at Rs.35,307 million, up by 18.5% over last year, driven by robust Same Store Growth of 16.4% in Domino’s Pizza.
Profitability increased strongly with FY19 EBITDA at Rs.6,078 million at 17.2% of revenue, a growth of 36.2% over FY18. FY19 Profit after Tax stood at Rs.3,228 million at 9.1% of revenue, a growth of 56.4% over FY18.
Highlights of the Quarter
The store opening momentum for Domino’s Pizza in India remained strong with 30 new stores added during the quarter. During the quarter, Domino’s Online sales grew faster and now contribute 75% of the total Delivery sales.
Jubilant FoodWorks ventured into Chinese Fast Casual segment with its first home-grown brand ‘Hong’s Kitchen’. Hong’s Kitchen opened its first restaurant in Gurugram.
Domino’s Pizza was officially launched in Bangladesh with grand opening of its first restaurant in Dhaka. The store got off to a strong start and broke the global Domino’s record for the highest number of orders for its first week and the first month of operations.
The Company introduced 10 new Cricket-themed Pizzas, five each in veg. & non-veg. categories, as part of its ‘World Pizza League’ offering. These included African Peri Peri, Aussie Barbecue, Jamaican Jerk, Indi Tandoori & English Cheddar.
Dunkin’ Donuts sustained its performance momentum after reporting break-even in Q3 FY19. It remains on track to achieve profitability driven by focus on the core portfolio of Donuts and Beverages.
Commenting on the performance for Q4 & FY19, Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said,
“We are pleased with our results in FY19, it was one of our strongest years in recent times both in terms of growth and profitability. During the year, we also expanded our footprint into Bangladesh and entered the Chinese food category with our brand, ‘Hong’s Kitchen’. We continue to remain optimistic about the long term growth prospects of the Food service category and are confident that JFL is best placed to drive this growth.”
Commenting on the performance for Q4 & FY19, Mr. Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said,
“Lapping our strongest quarter from last year, we delivered a robust revenue growth of 10.9% in Q4. We closed the year with revenue growth of 18.5% for FY19, driven by a 7-year high same-store sales growth (SSSG) of 16.4%. We are confident that Domino’s will continue to drive strong growth in the year ahead.
This quarter also marked our entry into the Chinese Fast Casual segment as also into the Bangladesh market with the launch of our first Domino’s Pizza restaurant in Dhaka. I am delighted to share that both of these are off to strong starts and should be significant growth drivers for us in the future”.
Key Highlights – Q4 FY19
- The Board of Directors has recommended Dividend of Rs. 5.00 per equity share of Rs. 10 each fully paid up for the Financial Year ended 31st March 2019 (amounting to Rs. 659.8 million excluding the dividend distribution tax thereon Rs 135.6 million) subject to approval of the shareholders in Annual General Meeting.
- Ventured into Chinese Fast Casual segment with its first home-grown brand ‘Hong’s Kitchen’; opened first restaurant in Gurugram
- Domino’s Pizza opened its first store in Bangladesh; breaks global record for the first week and the first month
- Domino’s Pizza – 30 Stores opened and 3 Stores closed. Total store count at 1,227.
- Introduced 10 new Cricket-themed Pizzas bringing together the best of flavors from the cricketing playing nations
- Dunkin’ Donuts sustained performance momentum; second straight quarter of breakeven