Jubilant FoodWorks Limited is a food service company and engaged in retail sales of food through strong international and home grown brands addressing different food market segments. International brands include Domino’s Pizza, Dunkin’ Donuts and Popeyes.
Jubilant FoodWorks Limited Profile
Jubilant FoodWorks Limited and its subsidiaries are engaged in retail sales of food through strong international and home grown brands addressing different food market segments. International brands include
- Domino’s Pizza,
- Dunkin’ Donuts and
For Domino’s Pizza, the Company has exclusive rights to open and operate Domino’s Pizza Restaurants in India, Sri Lanka, Bangladesh and Nepal. Currently, Domino’s Pizza is operated by the Company in India and by its subsidiaries in Sri Lanka
Jubilant FoodWorks Limited is a public limited Company domiciled in India and incorporated under the provisions of Companies Act, 1956. The Company was incorporated in 1995 and initiated operations in 1996. The Company’s share is listed on National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
Home grown brands include Hong’s Kitchen and Ekdum through which the Company has entered into Chinese and Indian cuisine segments respectively. Leveraging its strong Supply Chain the Company has also entered into FMCG food vertical with its brand ChefBoss. The registered office of the Company is located at Plot No. 1A, Sector 16-A, Noida-201301, UP, India.
Jubilant Foodworks Subsidiaries
Jubilant Foodworks Netherlands B.V and DP Eurasia N.V.
Jubilant Netherlands is a wholly owned subsidiary of the Company in Netherlands. During the financial year, Jubilant Netherlands acquired 8.51% equity stake in DPEU through Reverse Bookbuild process and direct market purchases. With an intent to consolidate the entire shareholding of DPEU into Jubilant Netherlands and simplification of the corporate structure, Fides Food Systems Coöperatief U.A. (‘Fides’), step down subsidiary of the Company in Netherlands has been merged with its holding company, Jubilant Netherlands effective January 1, 2022.
With this, Fides ceases to be step-down subsidiary of the Company. Further, consequent to the merger, the Company through Jubilant Netherlands is holding 60,072,476 ordinary shares in DPEU representing 41.32% of its issued share capital as on March 31, 2022. DPEU is a public company listed with London Stock Exchange PLC, and is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia.
Jubilant Golden Harvest Limited (‘Jubilant Bangladesh’)
Jubilant Bangladesh has exclusive rights to develop and operate Domino’s stores in Bangladesh. The performance of Jubilant Bangladesh was encouraging. Domino’s in Bangladesh was a dine-in centric business, over the last two years, efforts were made towards growth of delivery business. Jubilant Bangladesh with its continued efforts and potential, saw sustained recovery led by online delivery sales.
During the financial year, the Company exercised call options for acquiring additional 49% equity stake in Jubilant Bangladesh from Golden Harvest QSR Limited (‘Golden Harvest’) at a consideration amounting to BDT 3,890.15 lakhs (equivalent to INR 3,402.46 lakhs). Accordingly, post-completion of acquisition on May 10, 2022, Company’s stake in Jubilant Bangladesh increased from 51% to 100% (with 1 share of Jubilant Bangladesh being held by a nominee of the Company in order to comply with local law requirements in Bangladesh). During the year, Jubilant Bangladesh launched 4 stores taking the total count to 9 stores.
Jubilant FoodWorks Lanka (Private) Limited
Jubilant Sri Lanka is a wholly owned subsidiary of the Company in Sri Lanka. Jubilant Sri Lanka has exclusive rights to develop and operate Domino’s stores in Sri Lanka. During the year, Jubilant Sri Lanka delivered its highest ever system sales growth of 80.9%.
The pace of store expansion increased with the launch of 9 stores taking the total count to 35. The launch of an enhanced
mobile app helped in significantly enhancing online order growth. The focus remained on profitable growth managed through various initiatives like rationalizing discounts, reducing wastages and targeted marketing activities.