Buy Jubilant Foodworks, target price Rs 510: Shrikant Chouhan

Shrikant Chouhan of Kotak Securities has buy call on Jubilant Foodworks with a target price of Rs 510. The current market price of Jubilant Foodworks is Rs 494.6. Shrikant Chouhan recommended to keep stop loss at Rs 490.

Jubilant Foodworks, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 32668.94 Crore) operating in Tourism & Hospitality sector.

Jubilant Foodworks key Products/Revenue Segments include Pizza, Others, Beverages, Desserts, Dips, Other Operating Revenue and Others (Traded) for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1289.60 Crore, down -3.86 % from last quarter Total Income of Rs 1341.38 Crore and up 8.50 % from last year same quarter Total Income of Rs 1188.61 Crore. Company has reported net profit after tax of Rs 59.59 Crore in latest quarter.

The company’s top management includes Mr.Shyam S Bhartia, Mr.Berjis Minoo Desai, Mr.Ashwani Windlass, Mr.Abhay Prabhakar Havaldar, Mr.Vikram Singh Mehta, Ms.Aashti Bhartia, Mr.Shamit Bhartia, Mr.Pratik R Pota, Mr.Hari S Bhartia, Ms.Deepa Misra Harris. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2023, the company has a total of 66 Crore shares outstanding.

Investment Rationale
Trading into a rising channel pattern with a higher high and higher low indicating bullish momentum.

Promoter/FII Holdings
Promoters held 41.94 per cent stake in the company as of 31-Mar-2023, while FIIs owned 25.38 per cent, DIIs 21.48 per cent.