Jubilant Foodworks Limited · NSE:JUBLFOOD
Jubilant Foodworks — Q3 FY24 Earnings Presentation
35 slides from Jubilant Foodworks's earnings presentation, Feb 1, 2024
Slide 1: Cover letter to BSE and NSE
JFL/NSE-BSE/2023-24/113 January 31, 2024 BSE Ltd. National Stock Exchange of India Limited P.J. Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex Mumbai – 400001 Bandra(E), Mumbai – 400051 Scrip Code: 533155 Symbol: JUBLFOOD Sub: - Press Release along with Earnings Presentation Ref: Regulati
Slide 2: Press Release - Financial Results for Q3 FY24 and 9M FY24
Jubilant FoodWorks Limited Press Release - Financial Results for Q3 FY24 and 9M FY24 QUARTERLY HIGHLIGHTS § Revenue up by 2.9%; Gross Margin at 76.7%; EBITDA margin at 20.9% § Network in India crosses 2,000 milestone - Opened 58 new stores, total store count reached 2,007 across all brands § With 40
Slide 3: Press release continued: network and loyalty update
business. The accretive DP Eurasia acquisition marks a new chapter of utilizing our Domino’s experience to aid their business and also in the process create additional value for our shareholders.” With the addition of 40 new stores and entry in 10 new cities, Domino’s India expanded its network stre
Slide 4: Domino's Pizza India Particulars Q3 FY24
Domino’s Pizza India Particulars Q3 FY24 Q3 FY23 Like-for-Like Growth(non-split stores)* (2.9)% 0.3% Network Restaurant at the beginning of the period 1,888 1,701 New Restaurants 40 60 Closed restaurants 0 1 Restaurants at the end of the period 1,928 1,760 Number of New Cities added 10 16 1,928 rest
Slide 5: About Jubilant FoodWorks Limited
About Jubilant FoodWorks Limited: Jubilant FoodWorks Limited (NSE, BSE: JUBLFOOD) is India’s largest foodservice company and is part of the Jubilant Bhartia Group. Incorporated in 1995, the Company holds the exclusive master franchise rights from Domino’s Pizza Inc. to develop and operate the Domino
Slide 6: Earnings Presentation Q3FY24 and 9MFY24
Earnings Presentation Q3FY24 and 9MFY24
Slide 7: Key Messages
Key Messages 2 • R ev enue grow th cam e in at 2 .9% y oy – Growth in Delivery(+6.2%) was partially offset by decline in Dine-in(-5.6%) – Achieved highest ticket in the last nine quarters organically(without taking a price increase since last six quarters) – Delivery growth continues to be positive.
Slide 8: Revenue Trends (Standalone)
Revenue Trends(Standalone) 3 Revenue Revenue Growth (Rs. million) (%) 13,448 13,551 13,166 13,097 41.1% 12,868 12,403 12,523 16.9% 10.3% 8.2% 5.6% 4.5% 2.9% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Domino’s Mature Store ADS Domino’s LFL Growth
Slide 9: Profitability Trends (Standalone)
Profitability Trends(Standalone) 4 Gross margin back at elevated level Gains of GM expansion invested back in category development Gross Margin EBITDA Margin PAT Margin 24.6% 24.3% 22.0% 21.1% 20.9% 20.9% 9.3% 20.1% 8.1% 76.7% 76.7% 6.7% 76.4% 5.7% 5.4% 76.2% 76.0% 3.8% 4.5% 75.5% 75.3% Q1FY23 Q2FY2
Slide 10: 9MFY24 Performance Summary (Standalone)
9MFY24 Performance Summary(Standalone) 5 Revenue Domino’s India Network Network in India(all brands) (Rs. million) 4.3% growth 168 net addition 193 net addition 2,007 40,096 1,928 38,437 1,760 1,814 9M FY23 9M FY24 9M FY23 9M FY24 9M FY23 9M FY24 Gross Margin EBITDA Margin PAT Margin (%) (%) (%) 76.
Slide 11: The JFL Network
The JFL Network 6 Network in India crossed 2,000 store milestone; Overall network inching towards 3,000 store milestone Sri Lanka and Azerbaijan India Turkey Total Bangladesh and Georgia Stores Total Corporate Franchised Total Total Franchised Total 1,928 82 596 678 76 16 2,698 32 - - - - - 32 25 -
Slide 12: Domino's India Network
Domino’s India Network 7 Added 40 new stores and entered 10 new cities in the quarter On-track to meet new store guidance for FY24 Store Count City Coverage 168 net store addition in last one year Entered 26 new cities in last one year 1,928 407 1,888 1,838 397 393 394 1,816 387 1,760 1,701 371 1,62
Slide 13: Stepped up the pace of conversion of stores under re-image program
Stepped up the pace of conversion of stores under re-image program 8 W ith 33 re-imaged stores in Q3 FY24, 66 stores are now re-imaged till 9M FY24; on track to reimage 100 stores in FY’24 Before Re-image After Re-image Operational Excellence Linkage to Strategic Priorities
Slide 14: Utilizing demand signals to expand delivery service area
Utilizing demand signals to expand delivery service area for the existing store network 9 Objective is to maximize utilization of existing stores while minimizing the impact on customer metrics What are we doing? – Utilizing demand signals from existing app customers to expand delivery service cover
Slide 15: Delivery continues to dominate Domino's India Channel Mix
Delivery continues to dominate Domino’s India Channel Mix 10 Sustained momentum in delivery channel; Dine-in channel facing category-wide headwinds Delivery Channel Mix Delivery – Delivery channel revenue up by 6.2% y-o-y 65.5% 65.2% 64.3% 63.6% 62.4% 62.8% 62.5% – The growth was order and ticket le
Slide 16: Mega brand refresh exercise launched in December
Mega brand refresh exercise launched in December 11 Objective is to pivot from being transaction focussed to building brand love with an aim to increase occasion share Customer and Market First Linkage to Strategic Priorities
Slide 17: Mega brand refresh across all brand assets
Mega brand refresh exercise launched in December 12 Change is being effected across all brand assets 3D Billboards were used to communicate unique moments that are elevated by presence of Pizza Customer and Market First Linkage to Strategic Priorities
Slide 18: Introduced premium Gourmet Range - Domino's Viva Roma
Introduced a new, improved premium Gourmet Range – Domino’s V iva Roma 13 Objective is to establish a strong foothold in an emerging niche market with premium offerings Customer and Market First Linkage to Strategic Priorities
Slide 19: Domino's Digital Metrics Trend
Domino’s Digital Metrics Trend 14 Cheesy Rewards Program membership count crosses 21 mn mark and its order contribution reached 53% in December Domino’s Cheesy Rewards Installs MAU Cumulative Membership (million) (million) (million) 21.5 19.5 16.8 13.6 11.1 11.3 11.1 10.6 10.3 10.8 10.5 10.0 10.0 10
Slide 20: Online Ordering Metrics
Domino’s Digital Metrics Trend 15 Online Ordering Metrics continue to remain at an elevated level Online Ordering Metrics (%) 98.1% 98.2% 98.2% 97.9% 97.7% 97.7% 97.7% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 98.8% 98.9% 98.6% 98.2% 98.3% 98.2% 98.0% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24
Slide 21: Inhouse development of custom-built Domino's App on ONDC
Inhouse development of custom-built Domino’s App on ONDC 16 Objective is to unleash a new era by being the first foodservice Company to integrate with and embrace the power of ONDC JFL Ecosystem Future Seller Apps Future Buyer Apps Buyer Buyer-Apps Seller-App Delivery Ecosystem Data and Technology F
Slide 22: Launched in-house Tablet POS
Launched in-house Tablet POS(Point of Sale) 17 Continued digitization of store operations Benefits – Multiple use cases gets unlocked with Tablet usage: ü Function as a mobile POS ü Process table-side order ü Acquire customer from outside the store as well – Significantly enhanced consumer convenien
Slide 23: Stepped up the pace of Popeyes' network expansion
Stepped up the pace of Popeyes’ network expansion 18 32 Popeyes restaurants now serving consumers across 10 cities in India Mohali Hyderabad – Opened ten new restaurants and entered four new cities Manipal Bengaluru Mangalore Chennai Mysore Cuddalore – Opened the first restaurant in North India with
Slide 24: Glimpses of select new Popeyes restaurants
Glimpses of select new Popeyes restaurants 19 Customer and Market First Linkage to Strategic Priorities
Slide 25: Accelerated Hong's Kitchen network expansion and new wraps
Accelerated Hong’s Kitchen’ network expansion and launched a new range of wraps 20 20 Hong’s Kitchen is now serving customers Launched affordable wraps thereby addressing with its 22 stores across 4 cities a key whitespace in our portfolio Customer and Market First Linkage to Strategic Priorities
Slide 26: Chairmen and CEO Perspectives
Chairmen and CEO Perspectives 21 Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Mr. Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited commented, Jubilant FoodWorks Limited commented, “A series of proactive, strategic decisions being taken on a continual basis is “Sustain
Slide 27: Standalone Financial Statements Q3
Standalone Financial Statements 22 Particulars (Rs. mn) Q3 FY24 Q3 FY23 % Change Q2 FY24 % Change Revenue from operations 13,551 13,166 2.9% 13,448 0.8% Other Income 40 93 -57.5% 69 -42.2% Total Income 13,590 13,260 2.5% 13,517 0.5% Raw Material and Beverage Cost 3,164 3,229 -2.0% 3,174 -0.3% Gross
Slide 28: Standalone Financial Statements 9M
Standalone Financial Statements 23 Particulars (Rs. mn) 9M FY24 9M FY23 % Change Revenue from operations 40,096 38,437 4.3% Other Income 199 302 -34.1% Total Income 40,295 38,739 4.0% Raw Material and Beverage Cost 9,478 9,174 3.3% Gross Profit 30,618 29,263 4.6% Margin 76.4% 76.1% Personnel Expense
Slide 29: Consolidated Financial Statements Q3
Consolidated Financial Statements 24 Particulars (Rs. mn) Q3 FY24 Q3 FY23 % Change Q2 FY24 % Change Revenue from operations 13,781 13,318 3.5% 13,686 0.7% Other Income 42 96 -56.6% 71 -41.1% Total Income 13,823 13,414 3.0% 13,757 0.5% Raw Material and Beverage Cost 3,244 3,283 -1.2% 3,261 -0.5% Gros
Slide 30: Consolidated Financial Statements 9M
Consolidated Financial Statements 25 Particulars (Rs. mn) 9M FY24 9M FY23 % Change Revenue from operations 40,813 38,884 5.0% Other Income 206 307 -33.0% Total Income 41,018 39,191 4.7% Raw Material and Beverage Cost 9,737 9,313 4.6% Gross Profit 31,075 29,571 5.1% Margin 76.1% 76.0% Personnel Expen
Slide 31: Strategic Priorities
26 Strategic Priorities Customers, technology, operations and organization’s culture to drive sustained profitable growth
Slide 32: Key competitive advantage: multi-brand commissary based sourcing model
27 Key competitive advantage: Unique, multi-brand, commissary based sourcing and manufacturing model The Integrated Supply chain model helps JFL enjoys one of highest fill rates - 99.6% - globally 8 Commissaries and 4 Distribution Centers ‘Jubilant Food Park Bangalore’ has commenced operations Work
Slide 33: Key competitive advantage: data and technology strengths
28 Key competitive advantage: Continued investments for building data and technology strengths Our 'Data and Technology Forward’ Pillars Advanced Analytics and Immersive Customer Experience Next Level Platform Capabilities Digitizing Value Chain Data Science • Si n gl e St e p • M u l t i - Cou n t
Slide 34: Sustainability Progress
Sustainability Progress 29 Sustainability is deeply embedded in our multi-stakeholder business model, as a key tenet of generating long-term value Responsible Emissions, Energy and Benefit Baking Goodness Sourcing Waste Management People and Communities • The Company empower dairy farmers with • All
Slide 35: About Us
About Us 30 Jubilant FoodWorks Limited (NSE, BSE: JUBLFOOD) is India’s largest foodservice company and is part of the Jubilant Bhartia Group. Incorporated in 1995, the Company holds the exclusive master franchise rights from Domino’s Pizza Inc. to develop and operate the Domino’s Pizza brand in Indi