Jubilant Foodworks hits 52-week low on FY26 LFL

Stock slides after muted like-for-like update

Shares of Jubilant Foodworks fell nearly 9% to a 52-week low of INR 420.30 after an update showed Domino’s India recorded like-for-like growth of 0.2% for the quarter ended March. The move underlined how closely investors are tracking same-store trends for the country’s largest listed quick-service restaurant operator. The decline came even as the company reported year-on-year revenue growth in the same quarter. The stock reaction also reflects the market’s sensitivity to demand signals in the pizza category, where competition and value-led offerings remain key drivers.

March quarter FY26: revenue rises, but LFL stays near-flat

For the March quarter, the company’s standalone revenue stood at INR 16.86 billion, up 6.2% on year. In the same quarter, like-for-like growth for Domino’s India was just 0.2%, a sharp contrast to periods when the brand has delivered stronger same-store momentum. Operationally, Jubilant Foodworks added 59 new Domino’s Pizza stores in India during the quarter. This took the Domino’s store count in India to 2,455.

FY26 operations: full-year revenue growth reported

On a standalone basis, the company’s revenue from operations for FY26 (Apr-Mar) grew nearly 13% on year to INR 68.88 billion. The full-year number indicates that reported growth has been supported by continued network expansion and operating scale. But the market reaction to the quarter-end update suggests investors are also focused on the quality of growth, especially like-for-like performance. For consumer-facing QSR businesses, LFL trends often influence margin expectations and store-level economics.

FY25 Q4: sharp profit drop despite revenue growth

In another set of results for Q4 FY25 (January to March), Jubilant Foodworks reported a 76.86% decline in consolidated net profit to Rs 48 crore from Rs 207.5 crore a year earlier, according to a stock exchange filing. Over the same period, revenue from operations rose 33.6% to Rs 2,103 crore from Rs 1,574 crore in Q4 FY24. Total expenses increased 32.31% to Rs 2,044.9 crore from Rs 1,545.4 crore. EBITDA rose 24.7% year-on-year to Rs 389 crore from Rs 312 crore, while EBITDA margin declined to 18.5% from 19.8%.

Domino’s operating metrics: volumes and network footprint

For Q4 FY25, the company reported that Domino’s recorded 18.8% growth in revenue, supported by a 24.6% increase in order volumes. It added 52 new Domino’s outlets and entered nine new cities, taking the network to 2,179 stores across 475 cities. Another update around the March quarter noted the company added a net 56 new stores during the quarter, taking its total network to 3,316 stores across geographies, including 52 new Domino’s India outlets and 12 closures.

What brokerages are saying: targets and ratings

Brokerage views cited across reports have been mixed. Of nine brokerage reports available with Informist, seven carried a ‘buy’ recommendation with a target price of INR 730 per share, while two had a ‘hold’ recommendation. Separately, Bloomberg data showed 18 of 31 analysts rated the stock ‘buy’, eight recommended ‘hold’, and five suggested ‘sell’, with a 12-month consensus target price of Rs 702.27.

Intraday moves and recent price context

In one session following a quarterly update, the stock fell as much as 4.36% to Rs 650 on the NSE and was trading 2.77% lower at Rs 660.75, while the Nifty 50 was down 3.97% at that time. In another market update, shares closed 1.26% lower at Rs 692.85 on the NSE. Separately, the stock was also described as having shed over 23% since the start of January and trading close to its 52-week lows.

Dividend proposal noted for FY25

The board proposed a final dividend of Rs 1.2 per equity share for FY25, subject to shareholder approval at the upcoming Annual General Meeting. Such distributions are typically watched alongside profit trends and cash generation, particularly when the company is also expanding its store network.

Key numbers at a glance

Why the update matters for investors

Across the cited updates, the central tension is between headline revenue growth and the pace of like-for-like sales. Store additions continued in both FY25 and FY26-related disclosures, but the near-flat 0.2% LFL reading for the quarter ended March (FY26 context) triggered a sharp stock reaction. At the same time, the FY25 fourth-quarter results showed how rising expenses can compress profitability even when revenue expands. Analyst targets and ratings suggest expectations differ on how quickly LFL and margins can normalise, especially as the company continues to open stores and manage costs.

Conclusion

Jubilant Foodworks’ recent disclosures show continued network growth and rising revenue, but the market is reacting strongly to changes in like-for-like momentum and profitability. The next key datapoints for investors will be subsequent quarterly LFL trends, margin performance, and any updates around the proposed FY25 dividend approval at the AGM.