Q3 2024 Jubilant Foodworks Ltd Earnings Call Transcript
Key Points
- Jubilant Foodworks Ltd (BOM:533155) has crossed the milestone of a 2,000-plus store network in India, indicating strong expansion.
- Delivery channel performance is significantly ahead of pre-COVID levels, driven by consumer preference for convenience.
- Highest ever ticket size in the last nine quarters achieved without any price increase in the last six quarters.
- Cheesy Rewards program has seen a 102% year-on-year increase in enrolled customers, now at 21.5 million.
- The newly commissioned Jubilant Food Park in Bangalore is expected to enhance back-end efficiencies with a payback period of four years.
- Observed softer demand post-Diwali and in December, indicating potential volatility in consumer spending.
- Dine-in sales have been under pressure, with a negative like-for-like growth of 2.9% in the last quarter.
- Despite festive season boosts, performance was subdued on non-occasion days.
- Inflationary pressures continue to impact mass discretionary consumption, affecting overall demand.
- The current slowdown appears cyclical, reflecting broader economic challenges and impacting the foodservice industry outlook.
Ladies and gentlemen, good day, and welcome to the Jubilant FoodWorks Limited Q3 FY24 conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Deepak Jajodia. Thank you, and over to you, sir.
Good evening, everyone, and welcome to Jubilant FoodWorks Limited Q3 FY24 and nine months FY24 earnings call for investors and analysts. We are joined by our Board members, Mr. Shyam S. Bhartia, our Chairman; and our CEO and MD, Mr. Sameer Khetarpal. We will commence with key thoughts from Mr. Shyam S. Bhartia and then turn to our CEO and MD, to share his perspective.
After the opening remarks from the management, the forum will be open for the question-and-answer session. As you are aware, Jubilant FoodWorks Netherlands B.V., which is the wholly-owned subsidiary of Jubilant FoodWorks Limited, has launched a cash offer to acquire the remaining issued and outstanding share capital of DP Eurasia, not already
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