Jubilant FoodWorks aims to “transform itself into a food-tech powerhouse” through digital transformation to capture the likely high growth in deliveries and takeaways, Domino’s Pizza and Dunkin’ Donuts’ operator has said
Jubilant FoodWorks added 29 stores last quarter – 20 new outlets for Domino’s Pizza and three stores each for its other brands Dunkin Donuts, Ekdum! and Hong’s Kitchen.
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Jubilant FoodWorks share price jumped 6 percent intraday on August 18, hitting a 52-week high of Rs 4,166.40. The stock of Domino’s Pizza and Dunkin’ Donuts’ operator in India has jumped over 33 percent in the last month and was trading at Rs 4,117.65, up Rs 227.90, or 5.86 percent.
The scrip was trading with volumes of 43,513 shares, compared to its five- day average of 20,778 shares, an increase of 109.41 percent.
Jubilant FoodWorks aims to “transform itself into a food-tech powerhouse” after reporting a robust recovery from the second COVID wave, the company said.
“We intend to use technology at the heart of everything we do and use it to completely transform and revamp our customer experience, employee experience, and to drive operational efficiencies,” Pratik Pota, CEO and wholetime director of Jubilant FoodWorks, said during an investor call after first-quarter results.
The company is undergoing a digital transformation with an eye on capturing the “likely high growth in deliveries and takeaways”.
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Jubilant FoodWorks is taking initiatives to tap digital better, right from building a strong digital team and a data science team to opening more stores focussed on deliveries and takeaways, the company said.
“We have built a large digital team and we are strengthening it even further, both in product and user experience and in technology and engineering. We are also building a strong digital data science team,” Pota said. “We also intend to invest in growing our machine-learning and artificial-intelligence capabilities.”
The company plans to open 150-175 stores this financial year, a majority of which would be equipped only for deliveries and takeaways. “We will open a few full-service stores in small towns,” said Pota.
Beating analyst expectations, Jubilant FoodWorks reported a net profit of Rs 63 crore for the first quarter ended June (Q1FY22) as compared to a net loss of Rs 74 crore reported during the corresponding period in FY21.
The company’s revenue from operations in the Q1 FY22, stood at Rs 879 crore, a growth of over 131 percent over the same period last year. In the corresponding quarter of the previous fiscal, the company had reported Rs 388 crore revenue from operations.
