Jubilant FoodWorks (JUBI IN) – Q2FY27 Result Update – Steady demand outlook, rising inflation key headwind – BUY
Published on 07 Nov 2026
JUBI 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 ~70bps EBITDA margin expansion over FY27–FY29 driven by: 1) higher average ticket size, 2) supply chain efficiencies, and 3) benefits from tech investments and healthy LTL outlook, with expected improvement from Q3FY27.We estimate 44.4% standalone EPS CAGR over FY27-29 on a low base. We have assigned 25x FY28 PRE IND AS EV/EBIDTA to standalone nos and arrive at value of Rs464/share and 22x PAT to dp eurraisa (Rs 68/share) on its CY27 earnings. We assign an SOTP based target price of Rs532 (Rs553 earlier). Retain Buy.
