Stock Verdict Jubilant Food. 2023-05-15

Report as on 15 May 2023 at 06:45 PM
POOR GROWTH IN
LONG TERM NET SALES
Negative Jubilant
Results in Dec 22
Food.
Mildly Bearish
Technical Trend Sell
Expensive CMP: 469.10

Valuation
STOCK INFO:
Market
BSE – 533155/ NSE – JUBLFOOD
Market Cap - Large Cap (Rs. 30,953 cr)
Underperformance
Sector – Lifestyle
52 w H/L (Rs.) – 652.2/412.2
Dividend Yield: 0.26%
Last 1 Year Debt Equity: 0.88%
Return on Equity: 22.98%
Price to Book: 14.96
www.marketsmojo.com
Jubilant Food.
CMP: 469.10 35 Sell
Report as on 15 May 2023 at 06:45 PM
Strong Sell Sell Hold Buy Strong Buy
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WHY IT’S A SELL? IS THIS STOCK FOR YOU?

Medium Risk, Low Return (1 Year)
Poor long term growth as Net Sales has grown by
an annual rate of 9.18% and Operating profit at Absolute Risk Volatility
9.92% over the last 5 years Adjusted
The company has declared negative results in Jubilant Food. -1.28% -0.04 31.66%
Dec'2022 after 2 consecutive positive quarters SENSEX 18.09% 1.33 13.59%
-PAT(Q) At Rs 80.36 cr has Fallen at -32.4 %
- OPERATING PROFIT TO INTEREST (Q) Lowest at 5.53 How much should you sell? - All quantity irrespective of
whether you are making profits or losses
times
When to re-enter? - We will constantly monitor the
-OPERATING PROFIT TO NET SALES(Q) Lowest at company and review our call based on new data
21.51%
Stock is technically in a Mildly Bearish range RETURNS SUMMARY (Price + Dividend)
-The stocks MACD and KST technical factors are also The stock gave a total returns of -1.03% in the last 1 year
Bearish Underperforming Sensex returns of 18.09%
With ROCE of 20.4, it has a Expensive valuation 300%
with a 8.4 Enterprise value to Capital Employed 200%

-The stock is trading at a discount compared to its
average historical valuations
100%
-Over the past year, while the stock has generated a 0%

return of -1.28%, its profits have fallen by -2.9%
-100%
Underperformed the market in the last 1 year
O 20
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-Even though the market (BSE 500) has generated
M
returns of 15.26% in the last 1 year, the stock has Jubilant Foodworks Ltd SENSEX
hugely underperformed and has generate negative
returns of -1.28% returns
Investors Returns (3 years) –
Period 6M 1Y 2Y 3Y
WHAT ARE OTHER FACTORS? Stock (%) -16.37% -1.03% -15.1% 42.74%
Sector (%) -5.78% -5.78% 40.44% 140.48%
High Management Efficiency with a high ROCE of
54.26% Sensex (%) 0.76% 18.09% 27.93% 100.48%
DO YOU HAVE OTHER BETTER CHOICES?

Within same sector Within same market cap
There are no stocks in Lifestyle industry which we would IndusInd Bank Ltd.
recommend at this point
Get Verdict Report
MOJO PROFESSIONAL 1
Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM
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GROWTH
POOR LONG TERM GROWTH AS NET SALES

HAS GROWN BY AN ANNUAL RATE OF
9.18% AND OPERATING PROFIT AT 9.92%
OVER THE LAST 5 YEARS
Poor Growth in Net Sales 6000Cr
of 9.2% CAGR 5,064
9.2% Net Sales has seen a high growth of

4,258
CAGR 18.93% over previous period

4000Cr
3,445
3,853
3,140
2000Cr
0Cr
Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022
Poor Growth in Operating 1000Cr
Profit of 9.9% CAGR

9.9% No clear trend in Operating Profit
750Cr 694
731
CAGR numbers 562
500Cr 437
313
250Cr
0Cr
Net Profit of 8.1% CAGR 600Cr
8.1% No clear trend in Net Profit numbers

434 421
CAGR 400Cr
341
316
200Cr 177
0Cr
MOJO PROFESSIONAL 3
FINANCIAL TREND
THE COMPANY HAS DECLARED NEGATIVE

RESULTS IN DEC'2022 AFTER 2
CONSECUTIVE POSITIVE QUARTERS
Near term PBT trend is negative 170.54 164.07
Rs 101.9 PBT less Other Income (Rs Cr)

Lowest at Rs 101.89 cr.
150.15
cr
121.44
101.89
in the last five quarters
PBT - Quarterly
Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
Near term PAT trend is very 133.95 131.53

negative
-32.4% 97.04
112.75
PAT (Rs Cr) 80.36

PAT Growth At Rs 80.36 cr has Fallen at -32.4 %
over average PAT of the previous four quarters of Rs
118.82 Cr
The company's ability to manage 7.02

6.49
interest payments is deteriorating
6.29 6.28
5.5 times 5.53
Operating Profit to Interest

Interest Lowest at 5.53 times
Coverage Ratio - in the last five quarters
Quarterly
MOJO PROFESSIONAL 4
FINANCIAL TREND
Company's efficiency has 26.35
21.5% deteriorated 24.64 24.23 23.96

21.51
Operating Profit to Sales

Operating Profit Lowest at 21.51% and Fallen
Margin - each quarter in the last five quarters
Quarterly
Near term Operating Profit trend

is negative 319.08
Rs 286.4
304.13 311.86
289.79 286.44
cr Operating Profit (Rs Cr)

Lowest at Rs 286.44 cr.
Operating Profit in the last five quarters
- Quarterly
Declining profitability; company

Rs 1.2 cr has created lower earnings for
shareholders
2.03 1.99
1.71
Earnings per 1.47
EPS (Rs) 1.22
Share (EPS) -
Lowest at Rs 1.22
Quarterly
in the last five quarters
MOJO PROFESSIONAL 5
FINANCIAL TREND
Short Term liquidity is

deteriorating
Rs 417.5
755.01
655.88
cr Cash and Cash Equivalents

Lowest at Rs 417.52 cr
539.18
429.19
563.36
417.52
Cash and Eqv - in the last six half yearly periods
Half Yearly
Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022
Dec'22 Sep'22 Change%

Net Sales 1,331.8 1,301.5 2.3%
Key Operating Profit (PBDIT) excl Other Income 286.4 311.9 -8.2%
Result Interest 51.8 49.7 4.4%
Highlights Exceptional Items 0.0 0.0
Consolidated Net Profit 80.4 131.5 -38.9%
Operating Profit Margin (Excl OI) 21.5 24.0 -2.5%
Consolidate- figures in Rs
Cr
MOJO PROFESSIONAL 6
TECHNICALS
STOCK IS TECHNICALLY IN A MILDLY

BEARISH RANGE
Mildly Bearish Daily Moving Averages indicating near term price weakness
Current Price 50 Day Moving Average 200 Day Moving Average
469.10 444.92 525.21
Factors with downward momentum

Indicator Technical Trend
MACD Bearish (monthly)
Bollinger Band Mildly Bearish (monthly)
KST Bearish (monthly)
Dow Theory Mildly Bearish (monthly)
Consistent Underperformance against the benchmark over the last 3 years

3 Months 1 Year 3 Years
3.45% 3.42% 15.26%
107.71%
40.58%
-1.28%
Stock BSE 500 Stock BSE 500 Stock BSE 500
MOJO PROFESSIONAL 7
VALUATION
WITH ROCE OF 20.4, IT HAS A EXPENSIVE

VALUATION WITH A 8.4 ENTERPRISE
VALUE TO CAPITAL EMPLOYED
Expensive
Expensive Devyani Intl. Page Industries
valuation
PVR Inox Jubilant Food.
Valuation
as compared to its Fundamentals Raymond
Attractive
Weak Fundamental Strong
Very
Enterprise value to Capital Employed vs ROCE
160 60
Fundamental
Attractive
Valuation
80 30
0 0
as compared to its
3
18
19
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22
8
02
01
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past valuations
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Company Valuation Price to Book PE Ratio PEG Ratio Dividend

Ratio Yield
Key
Jubilant Food. Expensive 15 73.4 0 0.3%
Valuation
Multiples Page Industries Very Expensive 35.9 69 1.4 0.6%
vs Peers Devyani Intl. Very Expensive 26.8 75.2 0 0%
PVR Inox Expensive 10.4 -134.3 0 0%
Raymond Very Attractive 3.7 19.9 0.7 0.2%
MOJO PROFESSIONAL 8
RETURNS
UNDERPERFORMED THE MARKET IN THE

LAST 1 YEAR
Even though the market 300%
(BSE 500) has generated
returns of 15.26% in the 200%
last 1 year, the stock has

-1.28%
100%
hugely underperformed 0%
DOWN and has generate

negative returns of -1.28% -100%
returns
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Jubilant Foodworks Ltd BSE500
Underperfomer against Large Cap companies

Jubilant Foodworks Ltd has been in the Third
and Fourth Quartile in the last 1 year
4th
Quartile
4th
Quartile
3rd
Quartile
Stock has been in the 4th quartile in 2022
and in the 1Y period
1Y 2022 2021
-8.52% -28.84% 28.68%
Company 1 Month 3 Month 1 Year 3 Years

Jubilant Food. 7.75% 3.45% -1.28% 40.58%
Return Page Industries 12.06% 10.06% 1.11% 139.59%
Comparison
Devyani Intl. 17.44% 19.9% 20.6% -
with Peers
Closest peers by PVR Inox -4.15% -14.51% -16.09% 71.65%
market cap Raymond 22.46% 25.53% 107.67% 623.59%
MOJO PROFESSIONAL 9
FACTORS
WORKING
FOR THE COMPANY

MOJO PROFESSIONAL 10
MANAGEMENT RISK
HIGH MANAGEMENT EFFICIENCY WITH A

HIGH ROCE OF 54.26%
ROCE
The company has been able to generate a Return on Capital
54.26% ROCE
Employed (avg) of 54.26% signifying high profitability per unit
of total capital (equity and debt)
Dividend Payout Ratio

An average Dividend Pay-out ratio of 18.84% may signify the
18.84%
Dividend Payout Ratio
company is not able to payback profits to shareholders at this
point
Tax Ratio
High Tax Ratio signifies that the profits generated by the
25.59% Tax Ratio
company are real and it is making adequate contributions
towards by paying due taxes
Institutional Holding
High Institutional Holdings at 47.66%- These investors have
47.66%Institutional Holding
better capability and resources to analyse fundamentals of
companies than most retail investors
CAPITAL STRUCTURE
STRONG ABILITY TO SERVICE DEBT AS THE

COMPANY HAS A LOW DEBT TO EBITDA
RATIO OF 0.76 TIMES
Total Debt Debt to Equity Ratio
Low Debt to Equity Ratio Dec 2022 2,325.60 0.41
Company’s average Debt to Equity ratio over the past few years Dec 2021 1,720.03 0.28
is low at 0.41 times
Dec 2020 1,628.13 -0.14
No clear trend in Debt to Equity Ratio numbers Dec 2019 - -0.32
Total Debt Debt to EBITDA Ratio

Low Debt to EBITDA Ratio Dec 2022 2,325.60 0.76
Company’s average Debt to EBITDA ratio over the past few Dec 2021 1,720.03 0.58
years is low at 1.99 times
Dec 2020 1,628.13 0.4
No clear trend in Debt to EBITDA Ratio numbers
Total Debt EBIT to Interest

Healthy EBIT to Interest Dec 2022 2,325.60 79.18
Company has healthy average EBIT to Interest ratio of 79.18 Dec 2021 1,720.03 98.03
times
Dec 2020 1,628.13 100
EBIT to Interest has seen a high fall of -19.39% over previous Dec 2019 - 100
period
SHAREHOLDING
INSTITUTIONAL INVESTORS COLLECTIVELY

HOLD 47.24 % OF THE COMPANY
These investors have better capability and resources 60%
to analyse fundamentals of companies than most 51.27%

47.59% 48.60% 47.66%
47.14% 47.24%
retail investors.
40%
20%
0%
Dec 21 Mar 22 Jun 22 Sep 22 Dec 22 Mar 23
Insurance
Companies
FIIs
25.39%
Shareholding Snapshot : Mar 23
4.05% Other Majority shareholders : Promoters
0.18%
Mutual Funds
15.59% Non Instituti… Pledged Promoter Holdings : 1.66
10.82%
Mutual Funds : Held in 29.00 Schemes (15.59%)
Other DIIs
2.21% FIIs : Held by 562 FIIs (25.39%)
Promoters Promoter with highest holding : Jubilant Consumer Private Limited
(41.94%)
41.94%
Highest Public shareholder : Uti Flexi Cap Fund (2.77%)

Individual Investors Holdings : 8.3%
FII
40%
holding has decreased by -

31.87%
29.80%
30% 28.66%
26.77%
1.38% 25.39%
Number of FIIs holding stake in the company has 20%
decreased to 562 from 583

10%
0%
Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
SIZE
SECOND BIGGEST COMPANY IN THE

INDUSTRY LIFESTYLE.
Jubilant Food. is
cap)
18.59% of the entire Lifestyle Industry (by market
Contribution to Industry Size
Contribution to Industry Size

150
100 100 100 100 100

100
Jubilant Food. has been the second largest
company in the industry for the past 2 years 68.18 62.34 72.72 79.98 81.41
50
The size of the company’s contribution to
Industry’s Market Cap has decreased for the last 3 31.82 37.66 27.28 20.02 18.59
consecutive years
0
DEC-2019 DEC-2020 DEC-2021 DEC-2022 May-2023
Rest industry Jubilant Food.
Jubilant Food. contributes 12.81% of the

industry’s Sales and 13.36% of Profits
87.19% 86.64%
12.81% 13.36%
Jubilant Food. Rest of the Industry
Companies which form a sizable part of the industry generally enjoy a competitive edge due to the scale of their business
RESULT
ANALYSIS 
QUARTERLY VARIANCE
QUARTER RESULTS VARIANCE ANALYSIS

Dec'22 Sep'22 QoQ Dec'21 YoY Comments
Total Operating income 1,332 1,301 2.3% 1,211 10% QoQ and YoY increase
Total Expenditure (Excl Depreciation) 1,045 990 5.6% 892 17.2% High Growth in previous quarter
and same quarter last year
Operating Profit (PBDIT) excl Other Income 286 312 -8.2% 319 -10.2% Fall in previous quarter and same
quarter last year
Other Income 10 10 -8.3% 11 -13.8% Fall in previous quarter and same
quarter last year
Operating Profit (PBDIT) 296 322 -8.2% 330 -10.4% Fall in previous quarter and same
quarter last year
Interest 52 50 4.4% 45 14.1% QoQ and YoY increase
Exceptional Items 0 0 0% -0 -100%
Depreciation 133 115 15.7% 103 28.6% High Growth in previous quarter
and same quarter last year
Profit Before Tax 111 175 -36.1% 182 -38.6% Fall in previous quarter and same
quarter last year
Tax 31 43 -27.6% 46 -32.2% Fall in previous quarter and same
quarter last year
Provisions and contingencies 0 0 0% 0 0%

Net Profit 80 115 -30% 136 -40.7% Fall in previous quarter and same
quarter last year
Share in Profit of Associates -0 17 -100.7% -2 -95.1% Fall in previous quarter and same
quarter last year
Minority Interest 0 0 0% -1 -100%
Other related items 0 0 0% 0 0%
Consolidated Net Profit 80 132 -38.9% 134 -40% Fall in previous quarter and same
quarter last year
Consolidate results triggered in Rs Cr
Margins
Dec'22 Sep'22 Jun'22 Mar'22 Dec'21 Avg. (4 Comments
Qtrs)
OPM 21.5% 24.0% 24.2% 24.6% 26.4% 24.8% Lower than average (4 Qtrs)
GPM 18.3% 21.0% 21.4% 21.8% 23.5% 21.9% Lower than average (4 Qtrs)
NPM 6.0% 10.1% 9.0% 8.2% 11.0% 9.6% Lower than average (4 Qtrs)
ANNUAL RESULT
NET SALES - YOY GROWTH IN YEAR ENDED

MAR 2022 IS 32.74% VS -15.67% IN MAR
2021
Consolidated Net Profit: YoY Growth in year ended Mar 2022 is 81.46% vs -17.25% in Mar
2021
Operating Profit (PBDIT) excl Other Income: YoY Growth in year ended Mar 2022 is
43.77% vs -11.92% in Mar 2021
Interest: YoY Growth in year ended Mar 2022 is 8.23% vs -1.54% in Mar 2021 32.74%
Operating Profit Margin (Excl OI): YoY Growth in year ended Mar 2022 has improved from NET SALES
Mar 2021
Mar'22 Mar'21 Change(%)

Net Sales 4,396.12 3,311.87 32.74%
Key Operating Profit (PBDIT) excl Other Income 1,108.77 771.19 43.77%
Annual Interest 176.09 162.70 8.23%
Results
Exceptional Items -7.33 0.00
Consolidated Net Profit 420.39 231.67 81.46%
Operating Profit Margin (Excl OI) 25.22 23.29 1.93%
Figures in Rs Cr | Seasonal companies are compared with the same quarter last year
Net Sales-YoY Growth in year ended Mar 2022 is 32.74% vs - Consolidated Net Profit-YoY Growth in year ended Mar 2022
15.67% in Mar 2021 is 81.46% vs -17.25% in Mar 2021
5000 4,396.12 500
420.39
3,927.27
3,563.14 3,311.87
3,018.40 319.79
279.98
231.67
2500 250 196.23
0 0
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Operating Profit (PBDIT) excl Other Income-YoY Growth in Operating Profit Margin (Excl OI)-YoY Growth in year ended
year ended Mar 2022 is 43.77% vs -11.92% in Mar 2021 Mar 2022 has improved from Mar 2021
2000 40
23.29 25.22
1,108.77 22.30
1000 875.59 771.19 20 16.83
14.58
599.76
440.09
0 0
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Figures in Rs Crore
BALANCESHEET AND CASHFLOW
BALANCE SHEET AND CASH FLOW

ANALYSIS
0.0% Borrowings
Mar'22
119.83
Mar'21
0.00
Change%
Increase
Other Long Term Liabilities 1,787.65 1,469.30 21.67%
Fixed Assets 1,141.65 904.04 26.28%
Investments 827.13 435.32 90.01%
in Borrowings in quarter Current Assets 922.36 838.22 10.04%
ended Mar 2022 vs in
Figures in Rs Cr
Mar 2021
Other Long Term Liabilities: YoY Growth in year ended Mar 2022 is 21.67% vs -3.67% in Mar 2021
Fixed Assets: YoY Growth in year ended Mar 2022 is 26.28% vs 0.63% in Mar 2021
Investments: YoY Growth in year ended Mar 2022 is 90.01% vs 14,50,966.67% in Mar 2021
Current Assets: YoY Growth in year ended Mar 2022 is 10.04% vs -2.43% in Mar 2021
Cash From Operation - YoY Growth in year ended Mar

23.90% 2022 is 23.90% vs 3.14% in Mar 2021
Mar'22 Mar'21 Change%
GROWTH Cash Flow from Operating Activities 930.02 750.64 23.90%
Figures in Rs Cr
1000 930.02
727.79 750.64
500 423.52
409.01
0
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
PEER COMPARISION
PEER COMPARISON
Jubilant Food. Page Industries Devyani Intl. PVR Inox Raymond
Size
Market Cap (Cr.) 30,947 47,153 22,120 14,390 10,646
Annual Sales (TTM) (Cr.) 5,064 4,931 2,834 3,146 8,215
Annual Net Profit (TTM) (Cr.) 422 683 294 -107 536
Growth Factors (TTM)
Net Sales Growth 1 year 18.9% 34.9% 0.9% 222.6% 33%
Operating Profit Growth 1 year 5.4% 47.9% 638% 140.2% 104.5%
Net Profit Growth 1 year -2.9% 48.1% 239% 84.1% 27.4%
Net Sales Growth 5 year 9.2% 15.1% 22.9% 7.1% 6.8%
Operating Profit Growth 5 year 9.9% 14.7% 185.2% 4.9% 30.2%
Net Profit Growth 5 year 8.1% 16.4% 77.4% -201.6% 34.8%
Capital Structure Factors
EBIT to Interest 3.8 24.7 2.8 0.5 3.7

Debt to EBITDA 1.9 0.2 3 7 2.1
Net Debt to Equity 0.9 0.1 1.1 3.5 0.5
Sales to Capital Employed 1.3 3.5 1.2 0.5 1.9
Management Quality Factors
ROCE (latest) 20.4% 71% 16.7% 2.2% 22.9%
ROE(latest) 23% 52% 34.6% -9.7% 18.5%
Tax Ratio 25.6% 23.9% -14.6% 28.3% 27.4%
Operating CF to Net Profit 218.4% 60.9% 259.8% -34.2% 161.1%
Dividend Payout Ratio 18.8% 76.9% - - 7.7%
Valuation Factors
PE Ratio 73.4 69 75.2 -134.3 19.9
Price to Book 15 35.9 26.8 10.4 3.7
PEG Ratio - 1.4 - - 0.7
Dividend Yield 0.3% 0.6% - - 0.2%
EV to EBITDA 27.5 47.4 36.5 21.8 10
EV to Capital Employed 8.4 34.1 10.7 3.1 2.8
Shareholding
Promoter Holdings 41.9% 46.1% 62.8% 27.5% 49.2%
Promoter Pledged Holdings 1.7% - - 2.4% 21.9%
Total Institutional Holding 47.2% 44.3% 19.4% 61.4% 21.8%
FII Holdings 25.4% 22.4% 9.8% 31.2% 16.7%
Returns
1 Month 7.7% 12.1% 17.4% -3.9% 22.5%
3 Months 3.4% 10.1% 19.9% -14.3% 25.5%
YTD -8.2% -1.4% 1.6% -14.5% 9%
1 Year -1.3% 1.2% 20.6% -15.8% 107.7%
3 Years 40.6% 139.7% - 72.2% 623.6%
COMPANY BACKGROUND
COMPANY BACKGROUND
About the Company

Jubilant FoodWorks Limited (JFL), part of the Jubilant Bhartia Group, is India's
INDUSTRY : Lifestyle largest food service Company that operates brands like Domino's Pizza, Dunkin'
Donuts and Hong's Kitchen. It recently added Indian cuisines like biryani, kebabs,
Indian breads and more to the portfolio by launching Ekdum across three
30,953 cr (Large Cap) restaurants in Gurugram. In response to shifting consumption habits, Company
has begun offering their brandowned, ready-to-cook range, ChefBoss, comprising
sauces, gravies and pastes.
Part of NIFTY FREE
MIDCAP 100
Board of Directors
Shyam S Bhartia Chairman & Director
Hari S Bhartia Co-Chairman and Director
Mona Aggarwal Company Sec. & Compli. Officer
Aashti Bhartia Non-Exec & Non-Independent Dir
Berjis Desai Non-Exec. & Independent Dir.
6 more board of directors
Company Coordinates
Company Details: Registrat Details:

Plot No.1a, Sector - 16a Noida Uttar Pradesh : 201301 Link Intime India Pvt Ltd., Narang Tower 44, Community
Email: investor@jublfood.com Centre, Naraina Industrial Area , Phase - 1, New Delhi
Website: www.jubilantfoodworks.com / www.dominos.co.in / Email: Delhi@Intimespectrum.com
www.dunkinindia.com
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Stock Verdict Jubilant Food. 2023-05-15

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Stock Verdict Jubilant Food. 2023-05-15

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Report as on 15 May 2023 at 06:45 PM

Expensive CMP: 469.10

WHY IT’S A SELL? IS THIS STOCK FOR YOU?

With ROCE of 20.4, it has a Expensive valuation 300%

with a 8.4 Enterprise value to Capital Employed 200%

-Over the past year, while the stock has generated a 0%

DO YOU HAVE OTHER BETTER CHOICES?

BEFORE PROCEEDING AHEAD

This Real-Time Stock Analysis Report was

Some factors/data, as well as the buy/sell/hold call

To access the LATEST version of this report.

Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM

POOR LONG TERM GROWTH AS NET SALES

Poor Growth in Net Sales 6000Cr

of 9.2% CAGR 5,064

9.2% Net Sales has seen a high growth of

CAGR 18.93% over previous period

Poor Growth in Operating 1000Cr

Profit of 9.9% CAGR

CAGR numbers 562

Net Profit of 8.1% CAGR 600Cr

8.1% No clear trend in Net Profit numbers

Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM

THE COMPANY HAS DECLARED NEGATIVE

Near term PBT trend is negative 170.54 164.07

Rs 101.9 PBT less Other Income (Rs Cr)

Near term PAT trend is very 133.95 131.53

PAT (Rs Cr) 80.36

The company's ability to manage 7.02

5.5 times 5.53

Operating Profit to Interest

Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM

Company's efficiency has 26.35

21.5% deteriorated 24.64 24.23 23.96

Operating Profit to Sales

Near term Operating Profit trend

cr Operating Profit (Rs Cr)

Declining profitability; company

Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM

Short Term liquidity is

cr Cash and Cash Equivalents

Dec'22 Sep'22 Change%

Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM

STOCK IS TECHNICALLY IN A MILDLY

469.10 444.92 525.21

Factors with downward momentum

Consistent Underperformance against the benchmark over the last 3 years

Stock BSE 500 Stock BSE 500 Stock BSE 500

Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM

WITH ROCE OF 20.4, IT HAS A EXPENSIVE

Expensive Devyani Intl. Page Industries

as compared to its Fundamentals Raymond

Company Valuation Price to Book PE Ratio PEG Ratio Dividend

Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM

UNDERPERFORMED THE MARKET IN THE

last 1 year, the stock has

DOWN and has generate

Underperfomer against Large Cap companies

Company 1 Month 3 Month 1 Year 3 Years

Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM

Jubilant Food. SELL | Report as on 15 May 2023 at 06:45 PM

HIGH MANAGEMENT EFFICIENCY WITH A

Dividend Payout Ratio