Jubilant FoodWorks' Q2 business update showed below-expectation growth with moderated same store sales, prompting brokerage commentary from Morgan Stanley and CLSA

Thu 8 Oct 2026

Consolidated revenue growth

12 percent

Standalone revenue growth

11.6 percent

Domino's like-for-like growth

4 percent

DP Eurasia like-for-like growth

-2.1 percent

Stores added

108 stores

Heard on business television between 12:13:33 - 12:16:33 IST.

• Overall growth was below expectations and same store sales growth moderated
• Consolidated revenue up about 12% and standalone revenue growth at 11.6%
• Domino's like-for-like growth was 4%, DP Eurasia like-for-like growth was negative 2.1%
• Added 108 stores across group network, Domino's India added 88 stores, total store count at 3,820
• Morgan Stanley maintained equal weight with target price of 439, saying Q2 broadly in line and standalone EBITDA margin to stay stable at 19.5%
• CLSA maintained outperform with target price of 554, noting standalone sales 1% below expectations and like-for-like 4.1% slightly below estimate of 5.5%
• Stock was down 5% on the update

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