Jubilant FoodWorks share price skids over 3%: HDFC Securities says this - What investors should know
Jubilant reported a mixed Q2 with a marginal miss in revenue and beat in the margin. Revenue/EBITDA was up -19/-9% YoY vs. the expectation of -17/-18%. SSG was at -20% (expectation of -15%), while LFL (like-for-like) was at -13% if we remove the store closure impact. Sequential growth was healthy (much better than peers), as system sales recovered to 85/92/96% of last year in Aug/Sep/Oct. Recovery has been driven by strong growth in delivery and takeaway channels, as dine-in has continued to remain under pressure.
HDFC Securities roll forward their target price to Sep-22E EPS and value Jubilant Food at 45x P/E to derive a target price of Rs 1800: Reuters