Jubilant FoodWorks (JUBI IN) – Q1FY27 Result Update – Healthy demand outlook, higher inflation key headwind – BUY
Published on 13 Aug 2026
Management reiterated confidence on delivering ~200bps EBITDA margin expansion over FY24 adjusted EBITDA despite near term headwinds, led by operating leverage and supply chain initiatives .We expect ~90bps EBITDA margin expansion over FY26–FY28 driven by: 1) higher average ticket size, 2) supply chain efficiencies, and 3) benefits from tech investments and healthy LTL outlook, though expect margins to remain flat in FY27 amidst elevated input costs and overheads.We estimate 32.8% standalone EPS CAGR over FY26-28 on a low base. We have assigned 26x FY28 EV/EBIDTA to standalone nos and arrive at value of Rs506/share and 22x PAT to dp eurraisa (Rs 68/share) on its CY27 earnings. We assign an SOTP based target price of Rs574 (Rs576 earlier). Retain Buy.
