Latest news with #Jubilant
Time of India
28-06-2025
- Business
- Time of India
India's chicken craze takes wing as Gen Z, millennials drive unprecedented surge in demand
It's not every day that you catch the chief executive of an Rs 8,000 crore restaurant empire spending his morning hunting for… chicken wings. Yet that's exactly what Sameer Khetarpal , CEO of Jubilant FoodWorks , the company that runs the pizza chain Domino's in India, has been doing of late. A sudden demand surge for chicken wings has caught the company off guard, sending its CEO scrambling to secure enough meat and forcing him to ration supplies. 'I spend every Monday morning with my sourcing team to source chicken wings because we are constrained on supply of chicken wings,' Khetarpal told analysts during an earnings call last month. 'So we had to ration chicken wings and, in fact, stop the business in North and West to serve South and East (which are larger non-veg markets),' he said. The shortage stems from the unexpectedly demand the company is seeing for its new fried-chicken menu. The Jubilant CEO said he never expected the February launch of the new menu would 'exceed expectations', calling it a Rs 1,000 crore business potential segment. Across the restaurant industry, a similar trend is emerging. Chicken legs are losing flavour among younger consumers. Gen Z and Millennials are gorging on chicken wings and fried chicken, driving an unprecedented demand for the meat, says restaurant chains and the fresh meat industry. The demand surge comes as relief for restaurant industry that has been grappling with consumers cutting back on eating out for eight quarters. But the demand has outstripped supplies for now. 'Wings have become a go-to choice for group occasions, party orders, and OTT binging. They're easy to eat, easy to share, and low-commitment—fitting perfectly into India's growing 'snackification' trend, where consumers prefer multiple smaller, tasty meals over one heavy main,' says Kapil Grover, group chief marketing and digital officer, Restaurant Brands Asia that owns Burger King in India. Chicken legs, on the other hand, are finding themselves in a tough spot. Despite being meatier, they don't feel as juicy nor do they pack the crispy, dip-friendly punch of wings, industry executives said. They're also costlier per serving. Global influences are also frying up the demand. There's a lot of Western and South Korean cultural influence on younger consumers, many of whom find pairing fried chicken and wings with beer or gin trendy. Grover said the rise of Korean pop culture—from K-Pop to K-Dramas—has led to a surge in Korean cuisines such as wings. To be sure, the supply shortage has not reached crisis level yet even as demand forecasts and supply plans have gone haywire for now. While some—like Domino's—are forced to ration and manage regional supplies, most have reached out to their vendors to increase supplies. Another reason for the current situation: a bird has only two wings while chicken is mostly sold as whole. The founder of a leading fresh meat ecommerce platform said 'there is a huge demand right now for wings. But if you don't need the whole bird, then how do you price the wings only?' 'How many kilos of chicken do you need to go through to get the desired number of wings?' he said, requesting anonymity. According to Euromonitor International, the market size of chicken limited restaurants defined as restaurants where the primary offering is chicken only, inclusive of dine-ins and take away, was estimated to be Rs 6,750 crore for the calendar year 2024. This market is expected to expand at a CAGR of 9% till 2029. Kabir Jeet Singh, founder, Burger Singh, said, 'It's a bit of an elitist item on the menu, as you need to sell at least six of them in one serving,' he said. Arvind RP, chief marketing officer at McDonald's India (West and South), said despite launching fried chicken during the pandemic, the category has demonstrated consistent growth especially in the South, where it has significantly boosted the average unit volumes.
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Business Standard
04-06-2025
- Business
- Business Standard
Indian cos raise over ₹12k cr through bonds ahead of RBI policy outcome
Indian firms including Vedanta, Jubilant and HUDCO raised over Rs 12,000 crore from bonds ahead of the RBI's expected 25 bps repo rate cut, with strong demand from mutual funds Subrata Panda New Delhi Listen to This Article Several major Indian companies, including metals-to-mines conglomerate Vedanta, Jubilant Beverages, Housing and Urban Development Corporation (HUDCO), and Bajaj Housing Finance, together raised more than Rs 12,000 crore from the domestic debt capital market on Wednesday. This comes ahead of the Reserve Bank of India's rate-setting panel's policy decision, which is expected to cut the repo rate by another 25 basis points (bps). Vedanta Ltd has raised Rs 5,000 crore in three tranches. It raised Rs 2,400 crore through bonds maturing in two years and five months at a coupon rate of 9.31 per cent. Additionally, it raised Rs 1,750 crore
Time of India
15-05-2025
- Business
- Time of India
QSR growth faces headwinds as online food platforms capture investor focus: Pankaj Pandey
"When you look at steel as a sector, the context is that the price is at a four-year low, then we had imports at a 10-year high and with 12% kind of a safeguard duty, our sense is that for a company like Tata Steel which did somewhere about Rs 12,000 per tonne kind of a ebitda in the domestic side and with company guiding for a 3,000 kind of overall price appreciation, the numbers are going to get better for Tata Steel," says Pankaj Pandey , Head Research, As bullish the commentary maybe from Jubilant, the street has been more hooked up with the Q-Comm platforms, the online retailers when it comes to food delivery as opposed to the QSR traditional spaces. Do you think it makes sense perhaps to have exposure to both in your portfolio? Pankaj Pandey: So, see, from a consumption perspective, our sense is that the wallet share which is increasing is increasing for say hotels, hospitals, or even from investment side AMCs, unlike what you see for FMCG and other categories. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Overall sense is that a lot of these trades are crowded and so our sense is that there are two-three categories which are structurally looking positive. Demand is expected to be about 6 odd percent, supply is going to grow at 2%, and we have seen ARRs inching up and hospitals is no different. And the other consumption category could be on the premium side be it autos or be it two-wheeler or four-wheeler. And in addition to that within BFSI or non-BFSI segments, for example the AMCs look very attractive to us whether it is a largecap performing or midcap performing. Live Events These are the categories which we feel are expected to do a lot more better than a food delivery because that looks more crowded to us. Do you think there is an investment opportunity when it comes to steel, specifically perhaps led by Tata Steel? We were just looking at the numbers and they look pretty okay. The visibility for both the UK as well as the Netherlands business as well seems like FY26 is going to be the year, India demand in any case was intact. Pankaj Pandey: Oh yes. When you look at steel as a sector, the context is that the price is at a four-year low, then we had imports at a 10-year high and with 12% kind of a safeguard duty, our sense is that for a company like Tata Steel which did somewhere about Rs 12,000 per tonne kind of a ebitda in the domestic side and with company guiding for a 3,000 kind of overall price appreciation, the numbers are going to get better for Tata Steel. And even their UK business, the kind of cost reduction what they are taking, that will be visible in the next year. So, from that perspective Tata Steel is expected to do very well. We like the entire steel as a pack. Even Hindalco 's number, Novelis especially ebitda per tonne was better than our estimates. So, cement and steel are the two sectors where we are constructively seeing a material improvement on a quarter-on-quarter basis. Steel will see a better set of numbers in Q1. So, the maximum opportunities are going to lie there. I will not really say the same thing about the sail because see typically in a scenario when the prices go up, the most inefficient player sees the highest price appreciation. So, from that perspective, we would still want to prefer Tata Steel or JSW Steel or Jindal Steel & Power. How are you viewing the entire paint segment especially Asian Paints ? You think the negatives are all priced in because this is the one which had that big shake-off and pretty much got downgraded across the board and derated so to speak when Birla Opus came into the market. Pankaj Pandey: So, on the paint side, when I look at say Asian Paints, last two quarters the volume growth has been about two-three odd percent which is substantially lower than the long-term growth of low-double digit what we expect, while margin pressure is expected because Birla Opus is offering nearly 10% kind of a lower prices and while the price damage in Asian Paints largely looks done because valuation-wise it is trading somewhere about 44 times on a forward basis, but for us to look at this stock or the entire paint segment constructively, I think the volume growth needs pinch up. Till that time it does not happen, it is going to remain sideways or in case if the price intensity goes up, I would not rule out a minor correction as well from a price perspective.
Time of India
15-05-2025
- Business
- Time of India
Jubilant FoodWorks shares in focus after Q4 profit jumps 93% YoY. Should you buy, sell, or hold?
Shares of Jubilant FoodWorks will be under the spotlight on Thursday after the quick‑service restaurant operator reported a 93% year‑on‑year jump in standalone net profit, to Rs 49.5 crore for Q4 ended March 31, 2025, up from Rs 25.6 crore a year earlier. Standalone revenue from operations rose 19.1% to Rs 1,587 crore, compared with Rs 1,332.3 crore in Q4 FY24. At the operating level, standalone EBITDA climbed 19.7% to Rs 305.4 crore versus Rs 255.2 crore in Q4 FY24, lifting the EBITDA margin slightly to 19.2% from 19.1%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The 1 Ingredient That Instantly Hydrates Crepey Skin! New Skin Discovery Undo Should you buy, sell, or hold Jubilant FoodWorks' stock? Here's what brokerages say: Goldman Sachs Goldman Sachs maintained its Neutral rating on Jubilant FoodWorks but raised its target price to Rs 730 from Rs 700, citing the company's strong Q4 performance across key metrics. The brokerage highlighted that revenue momentum remains robust, driven by healthy like‑for‑like sales growth, while operating leverage continued to play out, resulting in an upward trend in EBITDA margins. Overall, Goldman Sachs believes Jubilant FoodWorks is well positioned to sustain its recent operational strength, warranting the upward revision in its price target. Live Events Citi Citi reiterated its Buy rating on Jubilant FoodWorks while raising its target price to Rs 805 from Rs 750. The broker highlighted Jubilant's continued market‐share gains and strong profitability metrics, noting that like‑for‑like (LFL) sales growth is outpacing other quick‑service restaurant peers. Citi sees clear scope for a valuation re‑rating as Jubilant cements its leadership in the QSR space, maintaining the stock as its preferred pick in the sector. Antique Antique reiterated its Hold rating on Jubilant FoodWorks while raising the target price to Rs 653 from Rs 564. The broker highlighted that affordable consumer offers and a strong delivery channel have supported volume‑led growth despite soft demand. Internal efficiencies have helped maintain profitability, and Antique expects further margin expansion driven by productivity gains and operating leverage. While Antique has trimmed its FY26 earnings forecast by 19%, it has lifted its FY27 estimate by 7%, reflecting confidence in the company's medium‑term outlook. Also Read: 8 Nifty Microcap stocks that can jump 100-230% in the next 12 months ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
15-05-2025
- Business
- Economic Times
Jubilant FoodWorks shares in focus after Q4 profit jumps 93% YoY. Should you buy, sell, or hold?
Should you buy, sell, or hold Jubilant FoodWorks' stock? Here's what brokerages say: Goldman Sachs Live Events Citi Antique (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Jubilant FoodWorks will be under the spotlight on Thursday after the quick‑service restaurant operator reported a 93% year‑on‑year jump in standalone net profit, to Rs 49.5 crore for Q4 ended March 31, 2025, up from Rs 25.6 crore a year revenue from operations rose 19.1% to Rs 1,587 crore, compared with Rs 1,332.3 crore in Q4 FY24. At the operating level, standalone EBITDA climbed 19.7% to Rs 305.4 crore versus Rs 255.2 crore in Q4 FY24, lifting the EBITDA margin slightly to 19.2% from 19.1%.Goldman Sachs maintained its Neutral rating on Jubilant FoodWorks but raised its target price to Rs 730 from Rs 700, citing the company's strong Q4 performance across key brokerage highlighted that revenue momentum remains robust, driven by healthy like‑for‑like sales growth, while operating leverage continued to play out, resulting in an upward trend in EBITDA margins. Overall, Goldman Sachs believes Jubilant FoodWorks is well positioned to sustain its recent operational strength, warranting the upward revision in its price reiterated its Buy rating on Jubilant FoodWorks while raising its target price to Rs 805 from Rs broker highlighted Jubilant's continued market‐share gains and strong profitability metrics, noting that like‑for‑like (LFL) sales growth is outpacing other quick‑service restaurant peers. Citi sees clear scope for a valuation re‑rating as Jubilant cements its leadership in the QSR space, maintaining the stock as its preferred pick in the reiterated its Hold rating on Jubilant FoodWorks while raising the target price to Rs 653 from Rs broker highlighted that affordable consumer offers and a strong delivery channel have supported volume‑led growth despite soft demand. Internal efficiencies have helped maintain profitability, and Antique expects further margin expansion driven by productivity gains and operating leverage. While Antique has trimmed its FY26 earnings forecast by 19%, it has lifted its FY27 estimate by 7%, reflecting confidence in the company's medium‑term outlook.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
