Market cheers Jubilant results, stock touches all-time high
The company's expansion plans continue on target and it will launch its Dunkin Donut store in the next quarter
Jubilant Foodworks' shares hit a life-time high of Rs 1,048.45 percent on Thursday on the back of market-beating results for the December-ended quarter. The stock finally closed at Rs 1,031.
The company delighted investors as net sales rose by 49 percent to Rs 276 crore, and net profit jumped even higher by 56 percent to Rs 29.5 crore.
"This year has been exciting for us...we are successfully enhancing our market share and fortifying our leadership in the quick service industry as we have grown Domino's Pizza's network to 439 stores as of 31 December. In view of our expression philosophy, plans to launch Dunkin Donuts are advancing well and are at par with our previously set timeline to launch it in the first half of calendar year 2012", said Chairman Shyam S Bhartia and Co-chairman Hari S Bhartia said in the company's press release.
The company's expansion plans continue on target and it will launch its Dunkin Donut store in the next quarter. At the initial stage, they plan to roll out 80-100s stores in a span of five years.
The company's progress was anticipated by investors, local and foreign. In the three months to December, foreign investors' stake in the company shot up bya whopping 14.8 percentage points to 35.9 percent since last December. Even the public shareholding in the company increased by 3.5 percentage points to 42.26 percent in the same period.
However, domestic institutions offloaded a major portion of their stakes in 2011.
To see its press release and view the presentation, click here.
Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply
Jubilant FoodWorks, which has the master franchise for Dunkin' Donuts outlets in the country, has said it will enter the Mumbai and Bangalore markets within next six months.
#JubilantFoodWorks yesterday reported a 75.88 percent fall in standalone net profit at Rs 6.71 cr in Q4
The company will invest major chunck of this sum in product upgrade and rest on marketing campaigns.