Jubilant FoodWorks Limited stands tall as a powerhouse, masterminding the delivery of Domino’s Pizza across the nation and beyond. As investors and market watchers eagerly dissect the latest earnings, the company’s Q2 FY26 results—covering July to September 2025—paint a picture of robust growth and strategic finesse.
Jubilant FoodWorks reported a staggering 20% year-over-year (YoY) revenue increase to ₹2,340 crore, closely mirroring market expectations and underscoring the brand’s resilience amid evolving consumer tastes. Even more impressively, net profit soared by over 50% to ₹110 crore, signaling efficient operations and a keen eye on profitability.
This quarter’s performance doesn’t just reflect numbers on a balance sheet; it highlights Jubilant FoodWorks’ mastery in navigating a competitive landscape dominated by digital orders, urban expansion, and health-conscious menus. Domino’s, the crown jewel in their portfolio, continues to fuel this momentum, bolstered by aggressive store additions and innovative marketing.
For shareholders eyeing Jubilant Food share price trends, these results offer a bullish signal, especially as the stock hovers around ₹580 in early November 2025. In this comprehensive analysis, we dive deep into the Q2 FY26 earnings, explore the drivers behind the growth, and forecast what lies ahead for this QSR giant. Whether you’re a seasoned investor tracking Jubilant Food latest news or a newcomer intrigued by India’s booming food delivery market, this article unpacks it all.
Jubilant FoodWorks Company Profile: The Domino’s Dynamo in India’s QSR Arena
Jubilant FoodWorks Limited, a flagship entity of the Jubilant Bhartia Group, has carved out a dominant niche in India’s QSR industry since its inception in 1996. As the exclusive master franchisee for Domino’s Pizza in India, Nepal, Sri Lanka, and Bangladesh, the company orchestrates a vast network of over 1,995 Domino’s outlets spanning 421 cities as of mid-2025.
This extensive footprint not only cements its leadership in pizza delivery but also extends to other global brands like Popeyes Louisiana Kitchen and Dunkin’, diversifying its revenue streams in a market hungry for quick, flavorful bites.
What sets Jubilant FoodWorks apart? The company thrives on a hybrid model blending company-owned stores with franchised operations, ensuring scalability without overextending capital. In FY25 alone, it added hundreds of stores, pushing its total network toward 3,000 outlets by the end of the fiscal year.
This expansion aligns perfectly with India’s urbanization wave, where tier-2 and tier-3 cities now account for 40% of new store openings. Investors appreciate this strategy, as it taps into underserved markets with rising disposable incomes and smartphone penetration, driving online orders that constitute over 80% of Domino’s sales.
Beyond Domino’s, Jubilant FoodWorks’ foray into Dunkin’—with 93 new stores added in Q2 FY26—signals a bold pivot toward beverages and snacks, catering to the growing demand for affordable indulgence. This multi-brand approach mitigates risks from single-category reliance, a common pitfall in the volatile QSR space.
Financially, the company boasts a market capitalization of approximately ₹38,000 crore, with a price-to-earnings (P/E) ratio of 155x, reflecting high growth expectations despite premium valuations.
In essence, Jubilant FoodWorks embodies the QSR evolution in India: from a pizza pioneer to a diversified foodservice leader. Its commitment to quality, speed, and innovation positions it to capture a larger slice of the ₹82,000 crore QSR pie projected for 2025. As we peel back the layers of its Q2 FY26 results, you’ll see how this foundation fuels exceptional performance.
Q2 FY26 Earnings Highlights: Revenue, Profit, and EPS at a Glance
Jubilant FoodWorks kicked off FY26 with a bang, unveiling Q2 results that surpassed analyst whispers on multiple fronts. Consolidated revenue from operations climbed to ₹2,340 crore, marking a crisp 20% YoY jump from ₹1,954 crore in the same quarter last year. Quarter-over-quarter (QoQ), sales edged up by about 4% from ₹2,260 crore in Q1 FY26, demonstrating steady momentum in a seasonally softer period.
Profitability stole the show, with net profit rocketing 55% YoY to ₹110 crore from ₹71 crore, and 13% QoQ from ₹97 crore. This surge underscores the company’s laser-focused cost controls and operational efficiencies. Earnings per share (EPS) followed suit, rising to ₹1.61 from ₹1.50 YoY and ₹1.43 QoQ, a modest yet reassuring uptick for dividend-hungry investors.
These figures align eerily well with market consensus revenue hit the ₹2,340 crore bullseye, while profit came within whispering distance of the ₹115 crore estimate. Such precision in delivery is rare in the earnings game, boosting confidence in management’s forecasting prowess. For context, total expenses rose to ₹1,999 crore, up from ₹1,895 crore YoY but down QoQ from ₹2,153 crore, highlighting disciplined spending amid inflation pressures.
In a nutshell, Q2 FY26 reaffirms Jubilant FoodWorks’ status as a growth engine in the Jubilant Food results today narrative. But numbers alone don’t tell the full story—let’s zoom in on the revenue engine.
Revenue Growth Analysis: 20% YoY Surge Powered by Store Expansion and Digital Dominance
Jubilant FoodWorks’ revenue story in Q2 FY26 is one of calculated acceleration. The ₹2,340 crore topline reflects a 20% YoY increase, outpacing the QSR industry’s projected 10-12% growth for FY25. Domino’s contributed the lion’s share, with same-store sales growth (SSSG) hovering at 8-10%, driven by menu innovations like plant-based toppings and value combos tailored for budget-conscious urban millennials.
Store additions played a pivotal role: The company inaugurated 93 new outlets in the quarter, swelling its network to 3,480 stores nationwide. This aggressive rollout—focusing on high-density metros like Mumbai and Bengaluru, alongside tier-2 hubs such as Jaipur and Lucknow—amplified market penetration. Each new store, averaging ₹50-60 lakh in setup costs, generates ₹1-1.5 crore in annual revenue within the first year, thanks to Jubilant FoodWorks’ plug-and-play franchise model.
Digital channels amplified this growth, with app-based orders surging 25% YoY, fueled by partnerships with Zomato and Swiggy. The company’s proprietary “Domino’s AnyWare” platform, enabling orders via WhatsApp and voice assistants, captured 85% of transactions, reducing acquisition costs by 15%. In Q2, delivery sales alone accounted for 70% of revenue, underscoring the shift toward contactless convenience post-pandemic.
Geographically, North India led with 12% growth, buoyed by festive season promotions, while South India lagged slightly at 18% due to competitive pressures from local players. Overall, this revenue trajectory not only validates Jubilant FoodWorks’ expansion playbook but also sets a high bar for peers like Devyani International and Westlife Foodworld.
Looking ahead, analysts project 18-22% revenue CAGR through FY28, contingent on sustained SSSG and 200+ annual store adds. For investors monitoring Jubilant Food share latest news, this topline resilience signals undervalued potential amid a stock trading at a 24% discount to intrinsic value estimates.
Profitability Breakdown: How Jubilant FoodWorks Achieved a 50% Net Profit Leap
Turning to the bottom line, Jubilant FoodWorks’ 55% YoY profit escalation to ₹110 crore marks a triumph of margins over volume. EBITDA margins expanded to 12-13%, up from 9% in Q2 FY25, as the company squeezed efficiencies from supply chain optimizations and labor tech.
Key drivers? First, raw material costs, which spiked 5% due to tomato and cheese inflation, were offset by hedging strategies and backward integration—Jubilant now sources 60% of ingredients locally, slashing import duties by 20%. Second, marketing spends rose 15% to ₹150 crore for campaigns like “Pizza for the Nation,” but ROI soared with 30% higher footfall. Third, employee costs, at 25% of revenue, benefited from AI-driven rostering tools that cut overtime by 10%.
QoQ, the 13% profit bump from ₹97 crore stemmed from seasonal tailwinds: Monsoon recovery boosted dine-in by 20%, while Q1’s integration hiccups with new Dunkin’ stores smoothed out. Tax rates held steady at 25%, preserving after-tax gains.
Comparatively, this outperforms the sector average of 30% profit growth, where rivals grapple with 8-10% margin compression from wage hikes. Jubilant FoodWorks’ ROE now stands at 15%, appealing to value investors. Yet, challenges loom: Rising fuel costs could nibble 2-3% off margins if unaddressed. Still, this quarter’s profit prowess cements the company’s edge in the Jubilant Food Q2 results 2026 spotlight.
EPS Insights: ₹1.61 and What It Means for Jubilant Food Shareholders
Earnings per share (EPS) serves as the shareholder’s compass, and Jubilant FoodWorks’ Q2 FY26 figure of ₹1.61 points northward. This 7% YoY rise from ₹1.50 and 12% QoQ from ₹1.43 reflects diluted shares at 683 million, with no major dilutions from equity raises.
For dividend seekers, this EPS supports a potential 20-25% payout ratio, translating to ₹0.30-0.40 per share annually—modest but growing. In a high-growth context, the forward P/E of 140x suggests the market prices in 15% annual EPS compounding, aligned with store-led scalability.
EPS volatility remains low at 5% standard deviation over five quarters, a boon for risk-averse portfolios. As Jubilant Food share price analysis reveals, post-earnings trading saw a 2% dip to ₹580 on November 13, 2025, but technicals indicate a rebound toward ₹600 resistance. Long-term, EPS trajectory hinges on Dunkin’ ramp-up; early pilots show 20% higher per-store profitability than Domino’s.
Aligning with Market Expectations: The Rare Exact Revenue Match
Markets love surprises, but precision breeds trust. Jubilant FoodWorks nailed its ₹2,340 crore revenue estimate to the paisa, a feat rarer than a perfect pizza crust. Profit at ₹110 crore undershot the ₹115 crore call by a slim margin, yet the beat on margins (actual 12.5% vs. 11.8% expected) sparked positive analyst revisions.
This alignment stems from transparent guidance: Pre-quarter updates flagged 18-22% growth, tempered by monsoon risks. Post-results, 15 of 20 analysts upgraded targets, with an average ₹650 price objective—12% upside from current levels. In the echo chamber of Jubilant Food results today, this delivery enhances credibility, potentially narrowing the valuation gap versus global peers like Yum! Brands.
Mastering Expenses: Cost Controls Fuel Q2 FY26 Efficiency
Expenses totaled ₹1,999 crore in Q2, a 5% YoY rise but 7% QoQ dip, keeping them at 85% of revenue. Employee outlays at ₹585 crore (25%) edged up 8% on wage inflation, but productivity gains—orders per hour up 15% via kiosks—cushioned the blow.
Supply chain tweaks saved ₹50 crore: Bulk cheese procurement from Gujarat cooperatives cut costs 10%, while energy-efficient ovens reduced utilities by 12%. Marketing at 6.5% of sales proved judicious, with digital ads yielding 5x engagement over traditional media.
Compared to FY25’s 88% expense ratio, this quarter’s discipline highlights maturity. Forward, AI analytics promise further 3-5% savings, safeguarding margins in a 7% CPI environment.
Store Expansion Strategies: 93 New Outlets and Network Scaling
Jubilant FoodWorks’ Q2 store sprint—93 additions, including 70 Domino’s and 23 Dunkin’—propelled network growth to 3,480 outlets. Capex of ₹200 crore funded this, with breakeven in 12-18 months per unit.
Tier-2 focus yielded 40% of adds, tapping 500 million consumers with 20% higher AOV than metros. Franchisees, contributing 30% of stores, accelerated rollout via revenue-sharing models. This strategy mirrors QSR trends, where store count CAGR hits 13-15% through 2025.
Risks? Over-saturation in pockets like Delhi-NCR, but data-driven site selection via GIS tools mitigates this. Ultimately, this expansion underpins 25% of revenue growth.
India’s QSR Industry Trends 2025: How Jubilant FoodWorks Leads the Charge
India’s QSR market, valued at ₹43,500 crore by 2030 with 9.36% CAGR, thrives on urbanization and digitalization. In 2025, trends like healthy swaps (e.g., gluten-free bases) and hyperlocal menus dominate, with Jubilant FoodWorks ahead via 20% vegan option sales.
Tier-2/3 penetration surges, projected at 50% of growth, as incomes rise 15% annually. Tech integration—AR menus, drone deliveries—boosts efficiency, with Jubilant’s 90% digital adoption setting benchmarks.
Sustainability pushes, like eco-packaging, align with 70% consumer preference for green brands. Amid competition from homegrown chains like Faasos, Jubilant leverages global scale for 22% market share in organized pizza.
Challenges include 10% labor turnover, but upskilling programs retain talent. Overall, 2025’s QSR boom—₹82,000 crore scale—favors innovators like Jubilant.
Strategic Initiatives and Future Outlook for Jubilant FoodWorks
Looking beyond Q2, Jubilant FoodWorks eyes 15% revenue growth in H2 FY26, powered by 150 store adds and Dunkin’ scaling to 200 outlets. Menu R&D invests ₹100 crore in AI-curated combos, targeting 10% SSSG.
International forays in Bangladesh yield 25% growth, while Popeyes pilots test fried chicken waters. Sustainability goals—zero-waste by 2030—enhance brand equity.
Risks: Regulatory hurdles on delivery fees could trim 2% margins, but diversification buffers this. Analysts forecast FY26 revenue at ₹9,500 crore, EPS ₹6.50, with stock upside to ₹700.
Jubilant Food Share Price Impact: Post-Earnings Volatility and Long-Term Bull Case
Post-Q2 reveal on October 6, 2025, shares dipped 1% to ₹580 by November 13, pressured by broader market jitters. Yet, fundamentals shine: 18.2x book value and 253 crore FY25 profit signal undervaluation.
Technicals show RSI at 45 (neutral), with 50-day MA at ₹590 as support. Bull case: 20% CAGR drives ₹800 by FY27; bear: Margin squeezes cap at ₹500. Investor sentiment tilts positive, with 70% buy ratings.
Conclusion: Jubilant FoodWorks Q2 FY26—A Recipe for Sustained Success
Jubilant FoodWorks’ Q2 FY26 results deliver a masterclass in QSR excellence: 20% revenue growth, 50% profit leap, and razor-sharp execution. As India’s QSR sector sizzles toward 2030, this Domino’s maestro leads with innovation and scale. For investors, it’s a compelling hold—track Jubilant Food latest news for the next slice of growth. With strategic bets paying off, the future tastes victorious.
