Jubilant FoodWorks shares fall 2% after receiving GST demand notice for ₹47 crore; all you need to know

Jubilant FoodWorks shares fell as much as 2.2% to touch an intraday low of ₹420.80 apiece on Tuesday, July 14, as the firm received a GST demand notice.

In a regulatory filing, the quick-service restaurant chain operator said it has received a demand notice of ₹46.9 crore. The company, however, said it will challenge the GST department's notice.

The show cause notice alleges that the Input Tax Credit (ITC) has been reversed in the “incorrected table” while filing the GST return of JFL, said the flagship company of the Jubilant Bhartia Group.

“The company has received a show cause notice (SCN) from the GST Department proposing a GST demand amounting to Rs 46,90,96,051,” said JFL, which has franchise rights for global QSR (quick-service restaurant) brands as Dominos and Popeyes.

The Bhartiya family-promoted firm said it “believes that the SCN issued has not considered the merits” of the submissions filed by the company.

“The company is in the process of filing detailed objections within the stipulated timelines as per the SCN. Post such filings, the impugned SCN and proposed demand is likely to be dropped,” it said.

Jubilant FoodWorks also said that the "alleged wrong presentation/classification of ITC reversal" has "no financial impact" on the company.

The firm received the show cause notice on July 13.

Jubilant FoodWorks share price trends

At 3:06 PM, Jubilant FoodWorks shares were trading at ₹422.6 apiece on the National Stock Exchange, falling 2.04%.

From the beginning of the year, Jubilant FoodWorks shares have fallen 23.5%. Over a six months’ time, the stock has tanked 20%.

Shares of the company had touched their one-year high of ₹695.50 apiece on July 17, 2025, while their 52-week low of ₹408.80 was hit on April 7, 2026.

Jubilant FoodWorks Q4 earnings

The quick service restaurant chain operator had reported a 66.23% year-on-year (YoY) jump in its consolidated net profit to ₹79.79 crore in the fourth quarter ended March 31, 2026. The company, which operates chains like Domino's, Popeyes, and Hong's Kitchen, had posted a consolidated net profit of ₹48 crore in the corresponding quarter of the preceding fiscal.

Its consolidated revenue from operations in the fourth quarter stood at ₹2,499.46 crore, marking a 19.3% YoY surge from ₹2,095.02 crore in the year-ago period, it added. Its total expenses in the period under review were higher at ₹2,401.46 crore compared to ₹2,028.97 crore in the March quarter of the 2024-25 fiscal year (Q4 FY25), the company said.

Its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, increased 23.7% YoY to ₹484.9 crore and its reported EBITDA margin expanded by 69 basis points (bps) YoY to 19.4% during the quarter under review.

For FY26, its consolidated net profit jumped 103.3% YoY to ₹428.48 crore against ₹210.76 crore in FY25.

Jubilant FoodWorks has a total market capitalisation of ₹27,894.96 crore as of July 14, 2026, according to data on the NSE.