Jubilant Foodworks Q1 sales grow, but experts disagree on stock outlook

Jubilant FoodWorks has maintained its growth momentum in Q1 FY26, as per the company’s latest business update shared on July 7. Despite strong top-line numbers, brokerages remain divided in their outlook on the stock.

Strong revenue growth, store expansion

The company’s consolidated revenue rose by 17% year-on-year to ₹2,261.4 crore for the June quarter. Its standalone revenue also saw an impressive 18.2% increase, reaching ₹1,701.6 crore.

Domino’s India, the flagship brand, reported like-for-like (LFL) growth of 11.6%, reflecting sustained demand in the domestic market. During the quarter, the company added 61 new Domino’s stores, bringing the total count to 2,240 stores across India.

Brokerages give mixed views

Morgan Stanley remains optimistic, reiterating an “overweight” rating on the stock. It set a price target of ₹781 per share, implying a potential upside of around 10% from the last close of ₹710.4.

The brokerage highlighted that the standalone revenue growth aligned with its estimates, supported by continued strong LFL growth and store additions.

Morgan Stanley also noted that consolidated revenue came in 3% above its expectations, even as Domino’s Turkey saw a 2.2% decline in LFL growth compared to the previous quarter’s modest increase. Domino’s Turkey added six new stores, taking its total to 752 stores.

On the other hand, CLSA maintains caution with an “underperform” rating and a price target of ₹519 per share, suggesting a potential downside of nearly 27%.

CLSA pointed out that the standalone sales growth, though robust at 18%, was 1% below its estimates. Similarly, the consolidated net sales growth was slightly behind forecasts, partly due to weak performance in Turkey.

Also Read: AWL Agri Business Q1 FY26 Update: Revenue Climbs 21% Despite Volume Decline; Quick Commerce and Castor Oil Exports Shine

The brokerage added that investors will be closely watching the company's profitability when detailed quarterly results are announced, to see if high LFL growth translates into better margins.

Key Highlights

• Consolidated revenue: ₹2,261.4 crore (up 17% YoY)
• Standalone revenue: ₹1,701.6 crore (up 18.2% YoY)
• Domino’s India LFL growth: 11.6%
• New stores added in India: 61 (total now 2,240)
• Domino’s Turkey LFL growth: down 2.2% (total now 752 stores)
• Morgan Stanley target: ₹781 (Overweight)
• CLSA target: ₹519 (Underperform)