Jubilant Foodworks shares tank post-Q4 update; what disappointed the Street?

The food services player said that its consolidated revenue from operations for the fourth quarter of the financial year 2025-26 stood at ₹2,505.8 crore, reflecting a jump of 19.1% year-on-year (YoY). The standalone revenue rose and advanced 6.2% YoY to ₹1,686 crore in Q4 FY26.

For the fiscal year 2026, the revenue grew by 17.2% YoY to ₹9,544.1 crore.

Domino’s India recorded a like-for-like (LFL) growth of 0.2% in the latest March quarter, according to the regulatory filing. Domino’s Turkey saw an LFL growth of 9.0% (post Ind AS 29).

During the quarter, net 69 stores were added to the Jubilant FoodWorks group network, taking the total store count to 3,663. Domino's India added around 59 stores, taking its total tally to 2,455 stores. Domino's Turkey said the addition of 4 new stores would take the store count to 787.

Here’s what analysts said

Analysts at Morgan Stanley said Jubilant FoodWorks reported standalone (India business) Q4 revenue growth of 6.2% YoY, below their estimate of 10.5% and slower than 12% growth in Q3, with like-for-like (LFL) growth at 0.2% compared to 5% in the previous quarter and their estimate of 4%.

On a consolidated basis, revenue rose 19.1% YoY, with implied international revenues growing 59% compared to 18% in Q3, the analysts added.

Macquarie analysts in a note on Tuesday said weaker-than-expected like-for-like growth for Domino's India, at 0.2%, was a key takeaway from the pre-Q4 update, reflecting same-store sales growth after adjusting for store splits.

They added that store additions for Domino’s India remained healthy, while international geographies, particularly Turkey, delivered strong sales performance.

Recent updates

On April 1, Jubilant FoodWorks said that it has entered into a Master Franchise Agreement with Domino’s Pizza International Franchising Inc. for the renewal of the exclusive franchise rights to develop and run Domino’s Pizza stores in India for 15 years, with a possibility for further renewal for an additional period of ten years.

In an exchange filing on March 30, the company also stated that it has decided to not renew its franchise agreement for development and operation of the Dunkin' brand in India upon expiry of the current term on December 31, 2026.

"The Company will, in an orderly and phased manner, evaluate and undertake such actions as may be considered appropriate in respect of its existing Dunkin’ brand operations, including rationalisation and/or cessation of certain operations and/or sale, transfer or disposal of assets and/or assignment or transfer of franchise rights, as may be required, in consultation with owners of the Dunkin' brand and strictly in accordance with the terms of the MUDFA, applicable laws, regulatory requirements and contractual obligations," it said.

Jubilant Foodworks share price

On Tuesday, shares of Jubilant Foodworks lost 11.3% to touch a 52-week low of ₹408.80 apiece on NSE.

Over a month’s time, the stock has fallen more than 15%, while it has tumbled 33% in the last six months. From the beginning of the year, Jubilant Foodworks shares have slumped 25%.

The company has a total market capitalisation of ₹27,235.11 crore, according to data on the NSE.