Jubilant Foodworks Limited · NSE:JUBLFOOD
Jubilant Foodworks — Q2 FY24 Earnings Presentation
40 slides from Jubilant Foodworks's earnings presentation, Oct 26, 2023
Slide 1: Stock exchange cover letter: Press Release with Earnings Presentation
JFL/NSE-BSE/2023-24/77 October 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
Slide 2: Press Release - Financial Results for Q2 FY24 and H1 FY24
Jubilant FoodWorks Limited Press Release - Financial Results for Q2 FY24 and H1 FY24 QUARTERLY HIGHLIGHTS • Revenue up by 4.5%; Gross Margin at 76.4%; EBITDA margin at 20.9% • Opened 60 new stores in India, total store count reached 1,949 across all brands • With 50 new Domino’s stores and entry in
Slide 3: Standalone Financial Highlights and Domino's Pizza India
- taking the network tally to 22 restaurants across six cities. In Hong’s Kitchen, four new stores enhanced the network to 18 stores across three cities. In Dunkin’, one new store was opened with entry in one new city. 11 out of 21 stores are now as per the brand’s coffee-first identify The enrolmen
Slide 4: Popeyes, Dunkin' and Hong's Kitchen Network
Popeyes Network Particulars Q2 FY24 Q2 FY23 Restaurants at the beginning of the period 17 6 New Restaurants 5 2 Closed restaurants 0 0 Restaurants at the end of the period 22 8 Dunkin’ Network Particulars Q2 FY24 Q2 FY23 Restaurants at the beginning of the period 21 25 New Restaurants 1 1 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 Domino
Slide 6: Earnings Presentation – Q2FY24 and H1FY24
Earnings Presentation – Q2FY24 and H1FY24
Slide 7: Q2FY24 Highlights (Standalone)
Q2FY24 Highlights(Standalone) 2 ● Revenue was Rs. 13,448 mn, higher by 4.5%; Domino’s LFL came in at -1.3% ● The ADS of Mature Stores(1,368 stores as at end of September 30) came in at Rs. 81,658, up by 1.4% sequentially Revenue ● Growth was order led; decline in ticket is now arrested; sequentially
Slide 8: Q2FY24 Highlights
Q2FY24 Highlights 3 ● Opened 63 stores, ending the quarter with 2,022 stores across all brands and all markets § India: Opened 60 stores, ending the quarter with 1,949 stores across all brands o Opened 50 Domino’s stores and entered three new city, with a total of 1,888 stores across 397 cities v La
Slide 9: Revenue Trends
Revenue Trends 4 Order-led growth continues; declining y-o-y trend in ticket now arrested; ticket continue to grow sequentially Revenue growth was 4.5%, LFL came in at -1.3%; ADS of mature store up by 1.4% sequentially Revenue Revenue Growth (Rs. million) 41.1% 13,448 13,166 13,097 12,868 12,403 12,
Slide 10: H1 FY24 Performance Summary (Standalone)
H1 FY24 Performance Summary(Standalone) 5 Resilient performance in an environment of weak consumer demand Revenue Domino’s India Network Network in India(all brands) (Rs. million) (Rs.) 5.0% growth 202 net addition 187 net addition 1,949 26,545 1,888 25,270 1,747 1,701 H1 FY23 H1 FY24 H1 FY23 H1 FY2
Slide 11: Domino's India Channel Mix – Quarterly Trends
Domino’s India Channel Mix – Quarterly Trends 6 Sustained momentum in delivery channel; Workstreams underway to transform Dine-in experience and capture the growth opportunity Delivery Channel Mix ● Delivery channel revenue up by 7.9% y-o-y ● The growth was order led 37.6% 37.2% 37.5% 36.4% 35.7% 34
Slide 12: Domino's New Flagship Format Launched – ACE 2.0
Domino’s New Flagship Format Launched – ACE 2.0 7 First Domino’s ACE 2.0 store launched in Sec 29, Gurgaon Customer and Market First Linkage to Strategic Priorities
Slide 13: Glimpses of Select New Domino's Stores
Glimpses of Select New Domino’s Stores 8 Customer and Market First Linkage to Strategic Priorities
Slide 14: Re-image Program on Track for Bottom Decile Stores
Re-image Program on Track for Bottom Decile Stores 9 33 stores reimaged till H1 FY24; on track to reimage 100+ stores in FY’24 Re-image leads to higher footfalls, higher LFL and significantly improve customer experience Before Re-image After Re-image Operational Excellence Linkage to Strategic Prior
Slide 15: Adjusting Domino's management structure for sharper execution
Adjusting Domino’s management structure for sharper on-ground execution and to become more agile 10 Transitioned from a 4 region structure to 7 region structure in Domino’s Advantages of the new structure 1 2 ● Enhanced span of control 4 ● Faster decision making 5 ● Regional teams will be closer to
Slide 16: Strengthening People and Culture with #IamDomino's
Strengthening the foundation of People and Culture with #IamDomino’s 11 Organized bootcamp for Domino’s Cluster Leaders to permeate model leadership traits Foundation of People and Linkage to Strategic Priorities Culture
Slide 17: Regional Menu Innovation: New Bangla and Eastern pizzas
Regional Menu Innovation: New range of pizzas inspired from authentic Bangla and Eastern regional cuisine 12 Domino’s debuts mutton and prawn pizzas in India for the first time Customer and Market First Linkage to Strategic Priorities
Slide 18: Profitability Trends
Profitability Trends 13 Deployment of multiple levers through Project Vijay and disciplined cost control led to Gross Margin Expansion Gross margin at 76.4%; EBITDA margin at 20.9% Gross Margin EBITDA Margin PAT Margin 24.6% 24.3% 9.3% 22.0% 21.1% 20.9% 8.1% 20.1% 6.7% 5.7% 5.4% 76.7% 76.2% 76.4% 3.
Slide 19: Domino's Digital Metrics Trend
Domino’s Digital Metrics Trend 14 Steady improvement in consumer engagement; Cheesy Rewards Program and App installs scale a new historic high Cheesy Rewards Enrollment grew 16.1% q-o-q to 19.5 million and its Order Contribution crosses 50% in September ‘23 Domino’s Cheesy Rewards Installs MAU Cumul
Slide 20: Domino's Digital Metrics Trend
Domino’s Digital Metrics Trend 15 Online Ordering Metrics continue to remain at an elevated level Online Ordering Metrics (%) 98.1% 98.2% 97.9% 97.7% 97.7% 97.7% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 98.6% 98.8% 98.2% 98.3% 98.2% 98.0% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 OLO Contribution t
Slide 21: Launched OSSOM App for Store Operations and Management
Launched OSSOM App – One Stop Shop for Store Operations and Management 16 A big thrust towards digitizing operations by providing a custom made App for store teams Benefits of the App ● A single App for store teams to streamline their daily tasks ● Digital helpdesk for assistance and quick query res
Slide 22: Domino's India Network
Domino’s India Network 17 Added 50 new stores and entered three new cities in the quarter; On track to open 200-225 new Domino’s stores in FY24 Store Count City Coverage 187 net store addition in last one year Entered 26 new cities in last one year 1,888 394 397 1,838 393 1,816 387 1,760 1,701 1,625
Slide 23: Popeyes
Popeyes 18 22 Popeyes restaurants now serving consumers across six cities in India On track to open 30 new Popeyes restaurants in FY24 Hyderabad Bengaluru Manipal Chennai • Opened five new restaurants and entered two new cities – Hyderabad and Madurai Coimbatore Madurai • Delivery channel mix is now
Slide 24: Glimpses of select new Popeyes Restaurants
Glimpses of select new Popeyes Restaurants 19 Madurai Besant Nagar, Chennai TC Palya, Bengaluru ECR, Chennai Customer and Market First Linkage to Strategic Priorities
Slide 25: Strengthened Beverage Portfolio with three new Coolers
Strengthened Beverage Portfolio with the launch of three refreshing Coolers 20 Customer and Market First Linkage to Strategic Priorities
Slide 26: New Tibet Range launched in Hong's Kitchen
New Tibet Range launched in Hong’s Kitchen after a successful Limited Time Tibet Food Fest 21 21 Introduced seven new starters from Tibet curated with renowned chef Doma Wong and chef Sachiko Seth Customer and Market First Linkage to Strategic Priorities
Slide 27: Glimpses of Select New Hong's Kitchen Restaurants
Glimpses of Select New Hong’s Kitchen Restaurants 22 Customer and Market First Linkage to Strategic Priorities
Slide 28: Domino's Bangladesh
Domino’s Bangladesh 23 Domino’s Bangladesh network more than doubled in last one year • Revenue growth in Q2: 85.6% y-o-y o All channels registered healthy growth • Opened three new store during the quarter taking the network tally to 23 stores • Added one new dessert - Orange Lava Delight - and a n
Slide 29: Domino's Sri Lanka
Domino’s Sri Lanka 24 Domino’s Sri Lanka became the fastest QSR in the country to scale to 50 stores • Revenue growth in Q2: 2.0% y-o-y • Considering the current macro-economic environment, no further expansion in FY’24 • OLO Contribution to Delivery Sales was 78%, higher by 7% pt. y-o-y • Domino’s
Slide 30: The JFL Network
The JFL Network 25 Management Control Board Representation Total Sri Lanka India DP Eurasia and Bangladesh Domino’s 1,888 73 691 2,652 Popeyes 22 - - 22 Dunkin’ 21 - - 21 Hong’s Kitchen 18 - - 18 COFFY - - 51 51 All Brands 1,949 73 742 2,764 Note: Overall Restaurant network pertaining to Jubilant Fo
Slide 31: Chairmen and CEO Perspectives
Chairmen and CEO Perspectives 26 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, “The growth continues to be order led with elevated level of consumer “We are focused on
Slide 32: Standalone Financial Statements
Standalone Financial Statements 27 Particulars (Rs. mn) Q2 FY24 Q2 FY23 % Change Q1 FY24 % Change Revenue from operations 13,448 12,868 4.5% 13,097 2.7% Other Income 69 103 -33.2% 91 -24.4% Total Income 13,517 12,971 4.2% 13,188 2.5% Raw Material and Beverage Cost 3,174 3,056 3.8% 3,141 1.0% Gross P
Slide 33: Standalone Financial Statements
Standalone Financial Statements 28 Particulars (Rs. mn) H1 FY24 H1 FY23 % Change Revenue from operations 26,545 25,270 5.0% Other Income 160 209 -23.6% Total Income 26,705 25,479 4.8% Raw Material and Beverage Cost 6,314 5,945 6.2% Gross Profit 20,231 19,325 4.7% 1 Margins 76.2% 76.5% Personnel Expe
Slide 34: Consolidated Financial Statements
Consolidated Financial Statements 29 Particulars (Rs. mn) Q2 FY24 Q2 FY23 % Change Q1 FY24 % Change Revenue from operations 13,686 13,015 5.2% 13,345 2.6% Other Income 71 104 -32.3% 93 -24.4% Total Income 13,757 13,119 4.9% 13,439 2.4% Raw Material and Beverage Cost 3,261 3,103 5.1% 3,232 0.9% Gross
Slide 35: Consolidated Financial Statements
Consolidated Financial Statements 30 Particulars (Rs. mn) H1 FY24 H1 FY23 % Change Revenue from operations 27,032 25,566 5.7% Other Income 164 211 -22.3% Total Income 27,196 25,777 5.5% Raw Material and Beverage Cost 6,493 6,030 7.7% Gross Profit 20,539 19,536 5.1% Margins1 76.0% 76.4% Personnel Exp
Slide 36: Strategic Priorities
Strategic Priorities 31 Customers, technology, operations and organization’s culture to drive sustained profitable growth
Slide 37: Key Competitive Advantage: Multi-Brand Integrated Supply Chain Network
Key Competitive Advantage: Multi-Brand Integrated Supply Chain Network 32 8 Commissaries and 4 Distribution Centers New Bengaluru Commissary to commence Operations soon Work on New Mumbai Commissary has started
Slide 38: Key Competitive Advantage: Continued Investments in Data and Technology
Key Competitive Advantage: Continued Investments for Building Data and Technology Strengths 33 Our 'Data and Technology Forward’ Pillars Advanced Analytics and Immersive Customer Experience Next Level Platform Capabilities Digitizing Value Chain Data Science • Single Step • Multi-Country, Multi-Bran
Slide 39: Jubilant For ALL
Jubilant For ALL 34 Sustainability is deeply embedded in our multi-stakeholder business model, as a key tenet of generating long-term value Responsible Baking Emissions and Energy Benefit Sourcing Goodness Management People and Communities • Authentic ingredients sourced from • With 8,400+ EVs, the
Slide 40: About Jubilant FoodWorks Limited
35 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