Jubilant Foodworks Share Price

Jubilant FoodWorks Ltd

Jubilant FoodWorks Limited (JFL), part of the Jubilant Bhartia Group, is India’s largest food service company. It operates some of the most recognized food service brands, including Domino’s Pizza, Dunkin’ Donuts, and Hong’s Kitchen. Recently, the company diversified further into Indian cuisine by launching the Ekdum brand, which offers biryani, kebabs, Indian bread, and other traditional dishes across its three restaurants in Gurugram. To address the changing consumption patterns in India, JFL also introduced ChefBoss, a brand-owned ready-to-cook product line featuring sauces, gravies, and pastes. In addition, the company entered into an exclusive Master Franchise and Development Agreement to establish and operate Popeyes restaurants in India, Bangladesh, Nepal, and Bhutan.

Early Days and Incorporation

Jubilant FoodWorks Limited was incorporated on March 16, 1995, under the name Domino’s Pizza India Pvt. Ltd., marking the start of its journey in the food service industry. The company entered into a master franchise agreement with Domino’s International to operate Domino’s Pizza outlets in the north and west regions of India. The first Domino’s Pizza outlet in India was opened in January 1996. Subsequently, the company was converted into a public limited entity in September 1996, and its name was changed to Domino’s Pizza India Ltd.

In 1998, the company extended its master franchise agreement to cover all of India and Nepal. It later entered into a tie-up with Hindustan Coca-Cola Beverages Pvt. Ltd. in 2001 to enhance its product offerings. By 2003, it became a subsidiary of Jubilant Enpro Pvt. Ltd., and in 2004, the company launched the now-iconic "30 minutes or free" delivery campaign, which resonated strongly with Indian consumers.

Achieving Major Milestones

In FY 2015, Domino’s Pizza India surpassed Domino’s UK in terms of restaurant count, becoming the largest market for Domino’s Pizza outside the United States. The company achieved its goal of opening 150 new restaurants that year and expanded into 46 new cities, positively impacting the Jubliant FoodWorks share price. Despite external economic challenges, the company maintained its focus on innovation by launching new products like exotic Italian pizzas, double-crunch pizzas, and even a vegetarian Navaratri menu at select outlets, which received widespread appreciation.

Dunkin’ Donuts continued its steady growth, with the number of outlets reaching 54 across 19 cities by the end of FY 2015. The brand solidified its position as a hybrid between QSR and café markets by introducing items like the Crunchy Joe Burger and a range of new donuts and beverages.

Entry into the QSR and Café Market

In FY 2012, Jubilant FoodWorks leveraged its expertise in the food service industry to bring Dunkin’ Donuts to India. This move was aimed at tapping into the QSR (Quick Service Restaurant) and café markets. By the end of FY 2014, Dunkin’ Donuts had 26 outlets across multiple cities and had launched innovative menu items like Mojo Burgers and Dunkaccino coffee varieties to cater to the evolving tastes of urban youth.

Domino’s Pizza India, meanwhile, continued its aggressive expansion. In FY 2014, the company added 150 new outlets, reaching a milestone of 700 outlets nationwide. During the same period, the brand introduced Fresh Pan Pizzas and other products like Spicy Baked Chicken and Calzone Pockets. The launch of the Pizza Theatre concept, featuring an open-display kitchen design, enhanced customer engagement and offered a unique dining experience.

Dunkin’ Donuts India: Strategic Realignment

Dunkin’ Donuts adopted a focused strategy to cater to the sweet spot between QSR and café formats, emphasizing beverages and value-driven menu innovations like Big Joy Burger and signature donuts. However, with an emphasis on profitability, the network was rationalized from 63 outlets in FY2017 to 24 by FY2021.

International Expansion: Sri Lanka and Bangladesh

Jubilant FoodWorks Lanka Pvt Ltd steadily grew Domino’s Pizza operations in Sri Lanka, reaching 24 outlets by March 2021. A joint venture with Golden Harvest QSR Ltd. led to the establishment of Domino’s Pizza in Bangladesh, growing from 9 stores in FY2022 to 17 by FY2023. Localized menu offerings and Every Day Value propositions played key roles in building brand loyalty.

New Ventures and Formats

The company ventured into new food formats with Hong’s Kitchen and Ekdum! to tap into the Chinese and Indian cuisine segments. As of FY2023, these ventures added to a diversified portfolio, complementing the core Domino’s and Dunkin’ brands.

Technological Advancements and Infrastructure

To enhance operational efficiency, JFL commissioned a state-of-the-art commissary in Greater Noida in FY2018, capable of supporting 550 Domino’s and 100 Dunkin’ outlets. It also introduced advanced digital platforms, including mobile apps, to elevate the consumer experience.

Global Partnerships and Acquisitions

JFL’s expansion strategy included significant investments in international markets:

• Acquired a 32.81% stake in DP Eurasia, operating Domino’s in Turkey, Russia, Azerbaijan, and Georgia.
  
• Entered a master franchise agreement with Popeyes for India, Bangladesh, Nepal, and Bhutan.
  
• Diversified investments through associate companies like Roadcast Tech Solutions and Wellversed.
  

Focus on Sustainable Growth

Aligned with its strategic pillars of product innovation, value for money, and customer experience, JFL reported consistent SSG improvements, achieving 13.9% growth in FY2018. The company also leveraged GST rate reductions to strengthen its value proposition while driving profitability through cost optimization measures.

Recent Achievements and Product Innovations

By FY2023, JFL introduced an all-new Domino’s Pizza Mania range with flavors like Desi Makhani and Videshi (Hot & Sweet). Continuous network expansion led to the addition of 134 Domino’s outlets in FY2021 alone, underscoring its commitment to growth across both domestic and international markets.

Strengthening Infrastructure

Jubilant FoodWorks invested heavily in infrastructure development to support its growing operations. By FY 2015, the company had operational commissaries in Noida, Mohali, Mumbai, Kolkata, and Bengaluru. It also established new commissaries in Hyderabad, Nagpur, and Guwahati to meet increasing demand. These centralized food production facilities ensured consistent quality and efficient supply chain management.

Continued Growth in Domino’s and Dunkin’

In FY 2016, Domino’s Pizza India reached another significant milestone by opening its 1,000th restaurant. With this, India became only the second country after the United States to achieve this landmark for Domino’s. The company also introduced a revamped mobile ordering application and redesigned its website to enhance the customer experience. Innovations such as the Pizza Theatre Plus design further elevated the dining experience, making Domino’s a preferred choice for consumers.

Dunkin’ Donuts also witnessed significant developments during this period, launching innovative products and expanding its reach. The brand introduced a range of wraps, burgers, and beverages that appealed to the younger demographic, reinforcing its brand positioning.

Commitment to Innovation and Consumer-Centric Growth

Jubilant FoodWorks has always prioritized innovation and consumer satisfaction. The company continues to develop new products and services tailored to changing consumer preferences. The introduction of digital ordering platforms and a robust delivery network has strengthened JFL’s position as a leader in the food service industry.

Future Prospects

With a diverse portfolio of brands and a strong commitment to growth, Jubilant FoodWorks is well-positioned to capitalize on opportunities in the fast-growing food service industry. The company’s focus on innovation, infrastructure development, and strategic expansion ensures that it remains a dominant player in India and neighboring markets. As JFL continues to evolve, it is expected to set new benchmarks in the QSR and café segments, further solidifying its leadership in the industry.