Jubilant Foodworks Limited · NSE:JUBLFOOD
Jubilant Foodworks — Q1 FY2024 Earnings Presentation
30 slides from Jubilant Foodworks's earnings presentation, Jul 25, 2023
Slide 1: Cover letter to stock exchanges
JFL/NSE-BSE/2023-24/41 July 25, 2023 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 alongwith Earnings Presentation Ref: Regulation 30
Slide 2: Press Release - Financial Results for Q1FY24
Jubilant FoodWorks Limited Press Release - Financial Results for Q1FY24 • Revenue up by 5.6%; EBITDA margin at 21.1%; PAT margin at 5.7% • Domino’s Cheesy Rewards membership base reaches 16.8 million with 48% Order Contribution in June ‘23 • Domino’s quarterly App downloads at 10.0 mn reaches new al
Slide 3: Standalone Financial Highlights
Mr. Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited commented, “Our strategy of customer first and technology forward has started to yield positive results. ADS for mature stores grew by 2.7% sequentially, decline in ticket size was arrested, app-installs, loyalty enrolments reached a new p
Slide 4: Popeyes, Dunkin' and Hong's Kitchen network
Popeyes Network Particulars Q1 FY24 Q1 FY23 Restaurants at the beginning of the period 13 4 New Restaurants 4 2 Closed restaurants 0 0 Restaurants at the end of the period 17 6 Dunkin’ Network Particulars Q1 FY24 Q1 FY23 Restaurants at the beginning of the period 21 28 New Restaurants 1 0 Closed res
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 Domin
Slide 6: Earnings Presentation – Q1FY24
Earnings Presentation – Q1FY24
Slide 7: Q1FY24 Highlights (Standalone)
Q1FY24 Highlights(Standalone) 2 ● Revenue was Rs. 13,097 mn, higher by 5.6%; LFL came in at -1.3% ● The ADS of Mature Stores(1,378 stores as at end of June 30) came in at Rs. 81,049, up by 2.7% sequentially Revenue ● Growth was order led partially offset by decline in ticket; sequentially, both orde
Slide 8: Q1FY24 Highlights
Q1FY24 Highlights 3 ● Opened 35 stores, ending the quarter with 1,961 stores across all brands and all markets § India: Opened 30 stores, ending the quarter with 1,891 stores across all brands o Opened 23 new Domino’s stores and entered one new city, with a total of 1,838 stores across 394 cities o
Slide 9: Revenue Trends
Revenue Trends 4 Order-led growth; ticket price also improved sequentially Revenue growth in Q1FY24 was 5.6%, LFL came in at -1.3%; ADS of mature store up by 2.7% sequentially Revenue Revenue Growth (Rs. million) 13,166 41.1% 13,097 12,868 12,403 12,523 16.9% 10.3% 8.2% 5.6% Q1FY23 Q2FY23 Q3FY23 Q4F
Slide 10: Domino's India Channel Mix Trends
Domino’s India Channel Mix Trends 5 Delivery channel continue to strengthen further; Workstreams identified to seize Dine-in growth opportunity Delivery Channel Mix ● Delivery channel revenue up by 8.4% y-o-y ● The growth was order led partially offset by decline in ticket 37.6% 37.2% 37.5% 36.4% 35
Slide 11: Re-image Program for Bottom Decile Stores
Re-image Program for Bottom Decile Stores 6 Before Re-image After Re-image
Slide 12: Continued Investments in Next-gen Stores
Continued Investments in Next-gen Stores 7 1,400+ Stores are now as per the new ACE and Pizza Theatre Design
Slide 13: Profitability Trends
Profitability Trends 8 Key input costs holding firm; sequential margin expansion on account of robust cost management Gross margin at 76.0%; EBITDA margin at 21.1% Gross Margin EBITDA Margin PAT Margin 24.6% 24.3% 9.3% 22.0% 21.1% 8.1% 20.1% 6.7% 5.7% 3.8% 76.7% 76.2% 76.0% 75.5% 75.3% Q1FY23 Q2FY23
Slide 14: Domino's Digital Metrics Trend
Domino’s Digital Metrics Trend 9 Consumer engagement remains at an elevated level Cheesy Rewards Enrollment grew 23.5% q-o-q to 16.8 million and its Order Contribution reached 48% in June Domino’s Cheesy Rewards Installs MAU Cumulative Membership (million) (million) (million) 16.8 13.6 11.1 11.3 11.
Slide 15: Domino's Digital Metrics Trend
Domino’s Digital Metrics Trend 10 Online Ordering Metrics continue to remain at an elevated level Online Ordering Metrics (%) 98.1% 97.9% 97.7% 97.7% 97.7% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 98.6% 98.2% 98.3% 98.2% 98.0% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 OLO Contribution to Delivery Sales (%) Mobil
Slide 16: Domino's India Network
Domino’s India Network 11 Added 23 new stores and entered one new city in the quarter; To add 200-225 new Domino’s stores in FY24 Store Count City Coverage 213 net store addition in last one year Entered 45 new cities in last one year 1838 1816 393 394 1760 387 1701 1625 371 349 Q1FY23 Q2FY23 Q3FY23
Slide 17: Introduced Domino's Red Hot Spicy Pizza range
Introduced Domino’s Red Hot Spicy Pizza range comprising of four new Pizzas 12 12 New spicy range starting at an affordable price-point of Rs 179, addressing a key whitespace in our portfolio Blazing Onion & Paprika Fiery Onion & Paprika Blazing Chicken & Paprika Fiery Sausage & Paprika Red Hot Pizz
Slide 18: Targeted Menu Intervention across the Price Spectrum
Targeted Menu Intervention across the Price Spectrum 13 New Menu Innovation, Addressing Whitespace in Portfolio and Launching New Offerings across Price Points Red Hot Pizzas Range No. of Pizzas: 4 Q1 FY’24 Rs. 179 – Rs. 669 Introduced in Q1 FY’24 Q4 Viva Roma (Gourmet Range) Pizza Mania Range No. o
Slide 19: Popeyes
Popeyes 14 Popeyes is now loved by millions in India Targeting to open 30-35 new Popeyes restaurants in FY24 Hyderabad Bengaluru Manipal Chennai • Opened four new restaurants and entered two new cities – Manipal and Coimbatore Coimbatore • In July, opened Popeyes’ 18th store in Hyderabad thereby enh
Slide 20: Glimpses of Popeyes New City Entry
Glimpses of Popeyes New City Entry 15 Coimbatore Manipal Hyderabad
Slide 21: Domino's Sri Lanka
Domino’s Sri Lanka 16 Opened 50th store in Sri Lanka • Overall system sales growth in Q1: 13.1% • Added two new stores taking the network tally to 50 stores • Introduced Domino’s Roasties – stuffed roasted bread with the delightful local Sri Lankan twist • OLO Contribution to Delivery Sales was 67%
Slide 22: Domino's Bangladesh
Domino’s Bangladesh 17 Stepped up the pace of network expansion • Overall system sales growth in Q1: 69.6% o All channels registered healthy growth • Opened three new store during the quarter taking the network tally to 20 stores • Introduced Choco Breadstick • OLO Contribution to Delivery Sales was
Slide 23: The JFL Network
The JFL Network 18 Management Control Board Representation Total Sri Lanka India DP Eurasia and Bangladesh Domino’s 1,838 70 674 2,582 Popeyes 17 - - 17 Dunkin’ 21 - - 21 Hong’s Kitchen 15 - - 15 COFFY - - 40 40 All Brands 1,891 70 714 2,675 Note: Overall Restaurant network pertaining to Jubilant Fo
Slide 24: Chairmen and CEO Perspectives
Chairmen and CEO Perspectives 19 Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant Mr. Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited commented, FoodWorks Limited commented, “Our strategy of customer first and technology forward has started to yield “Our perform
Slide 25: Standalone Financial Statements
Standalone Financial Statements 20 Particulars (Rs. mn) Q1 FY24 Q1 FY23 % Change Q4 FY23 % Change Revenue from operations 13,097 12,403 5.6% 12,523 4.6% Other Income 91 106 -14.2% 195 -53.4% Total Income 13,188 12,509 5.4% 12,718 3.7% Raw Material and Beverage Cost 3,141 2,888 8.7% 3,097 1.4% Gross
Slide 26: Consolidated Financial Statements
Consolidated Financial Statements 21 Particulars (Rs. mn) Q1 FY24 Q1 FY23 % Change Q4 FY23 % Change Revenue from operations 13,345 12,551 6.3% 12,698 5.1% Other Income 93 107 -12.4% 198 -52.7% Total Income 13,439 12,658 6.2% 12,896 4.2% Raw Material and Beverage Cost 3,232 2,927 10.4% 3,165 2.1% Gro
Slide 27: Key Competitive Advantage: Multi-Brand Integrated Supply Chain Network
Key Competitive Advantage: Multi-Brand Integrated Supply Chain Network 22 8 Commissaries and 4 Distribution Centers Upcoming Bengaluru Commissary ● Built over a CAPEX of Rs. 2,700 million ● Production to commence in August ’23 ● Capacity to serve over 750 store network of JFL
Slide 28: Key Competitive Advantage: Data and Technology Strengths
Key Competitive Advantage: Continued Investments for Building Data and Technology Strengths 23 Our 'Data and Technology Forward’ Pillars Advanced Analytics and Immersive Customer Experience Next Level Platform Capabilities Digitizing Value Chain Data Science • Self Ordering Kiosks • Single Step • Mu
Slide 29: Key Focus Areas
Key Focus Areas 24 Customers, technology, operations and organization’s culture to drive sustained profitable growth Customer and Market First Data and Technology Forward Sustained and Profitable Growth Operational Excellence Foundation of People and Culture
Slide 30: About Jubilant FoodWorks Limited
25 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 Do