What should investors do with Jubilant FoodWorks post-Q2 earnings: buy, sell or hold?

Asia's Tech News Daily

#Buzzing Stocks, Jubilant FoodWorks

Jubilant FoodWorks share price fell 4 percent in the early trade on October 21, a day after the company that operates fast-food chains such as Domino’s Pizza and Dunkin’ Donuts in India came out with its September quarter earnings.

Jubilant FoodWorks reported a 58.11 percent jump in consolidated net profit at Rs 119.82 crore for the second quarter ended September 30, 2021 aided by higher sales.

The company had a profit of Rs 75.78 crore in the same period last fiscal, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.

Revenue from operations stood at Rs 1,116.19 crore as compared to Rs 816.33 crore in the corresponding period of the last fiscal.

Here is what brokerages have to say about the stock and the company after the September quarter earnings:

Morgan Stanley

The research house has kept an “overweight” call on the stock with the target at Rs 5,000 as Q2 earnings beat estimates as well as consensus.

The broking firm remains bullish on the growth potential and a correction could be a good opportunity for long-term investors to engage, it said.

Credit Suisse

The research house has kept a “neutral” call with the target at Rs 3,800.

Same-store sales growth trend was underwhelming in the context of strong consumer discretionary recovery.

Domino’s has a relatively lower market share in food delivery compared to dine-in and in the current phase, where consumers are going back to dine-in, Domino’s may see a slower recovery.

CLSA

CLSA has maintained an outperform call, with the target at Rs 4,050.

The management is upbeat on growth prospects but is cautious on the near-term margin outlook.

CLSA likes the company’s ambition and aggression to build a portfolio of brands by leveraging its existing capabilities.

Jefferies

The research firm downgraded the stock to “hold” but raised the target to Rs 4,100 as Q2 revenues were in-line but better GM drove EBITDA surprise.

The management commentary remains positive on growth and despite cost inflation, confidence is high on maintaining margin.

At 09.18 am, Jubilant FoodWorks was quoting at Rs 3,844.85, down Rs 120.30, or 3.03 percent, on the BSE.

The share touched a 52-week high of Rs 4,577.45 on October 13, 2021 and a 52-week low of Rs 2,099.60 on November 2, 2020. It is trading 16 percent below its 52-week high and 83.12 percent above its 52-week low.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

With inputs from PTI

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