Please find attached Transcript of Conference Call for Analysts and Investors for Q4FY26 and FY26 results.
JUBLFOOD · price
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Jubilant FoodWorks (JFL) hosted its Q4FY26 & FY26 earnings call with CEO Sameer Khetarpal and CFO Suman Hegde addressing analyst questions. Q4 like-for-like growth decelerated to 6% on 2-year CAGR from 9% in Q3, with Q4 itself showing only 0.2% LFL growth. Management reaffirmed its 5-7% long-term growth target and 200 basis point margin improvement goal. Near-term margin pressures are expected due to energy inflation (LPG/PNG - ~120 bps impact), labor inflation (wage hikes in 11 states, Labour Code - ~40-50 bps), and commodity costs. The company has taken 1.2% price increases to offset energy costs and is converting ovens from LPG to electric/PNG. Delivery now constitutes 76% of sales and the company is opening smaller format stores (600-700 sq ft vs 1,500 sq ft previously), reducing capex per store by 20% for three consecutive years. New brands (Popeyes, Hong's, Dunkin') continue to be a drag on margins but ahead of plan. Management remains optimistic on achieving both growth and margin targets through operational efficiency, premium product launches, and supply chain improvements.
JFL faces near-term margin pressure from energy and labor inflation but reaffirms its 200 bps margin improvement target. The company is gaining market share per Nielsen data and remains confident in its long-term growth algorithm despite short-term headwinds.