Jubilant FoodWorks Ltd (JFL) is India’s largest quick-service restaurant (QSR) operator, holding exclusive master franchise rights for Domino’s Pizza, Dunkin’ Donuts, and Popeyes in India and several neighboring countries. The company also launched its homegrown Chinese brand, Hong’s Kitchen. With a strong presence across 3,500+ stores and leadership in the pizza segment, JFL benefits from rising urban consumption and delivery-led growth. However, recent quarters have shown declining profits despite sales growth, raising concerns about margin pressure and valuation. This article provides a balanced, fact-based outlook and realistic share price targets for each year from 2026 to 2030.
Given the extremely high P/E, negative profit growth, but strong brand and store expansion, the upside is limited unless earnings rebound. Targets assume:
EPS recovery by FY27 as supply chain costs stabilize
P/E compression from 148x to 80–90x by 2028 (still premium)
ROCE sustainability (~20%) supports long-term value
Year
Target Price Range (₹)
2026
₹520 – ₹580
2027
₹550 – ₹630
2028
₹580 – ₹690
2029
₹610 – ₹750
2030
₹640 – ₹810
Year-wise Breakdown
Jubilant FoodWorks Share Price Target 2026
Year
Target 1
Target 2
2026
₹520
₹580
Rationale: Near-term upside is capped by profit decline and valuation stretch. However, 14% sales growth and store expansion (3,594 outlets) support revenue visibility.
Jubilant FoodWorks Share Price Target 2027
Year
Target 1
Target 2
2027
₹550
₹630
Rationale: Expected benefit from menu premiumization, delivery efficiency, and new brand rollouts (Popeyes, Hong’s Kitchen).
Jubilant FoodWorks Share Price Target 2028
Year
Target 1
Target 2
2028
₹580
₹690
Rationale: By 2028, operational leverage from scale could improve margins. ROCE of 20.77% justifies a premium vs peers.
Jubilant FoodWorks Share Price Target 2029
Year
Target 1
Target 2
2029
₹610
₹750
Rationale: Long-term play on India’s QSR penetration (currently <1% of food spend vs 4–5% in developed markets).
Jubilant FoodWorks Share Price Target 2030
Year
Target 1
Target 2
2030
₹640
₹810
Rationale: The upper end assumes profit growth returns to 15–20%, debt management, and market share gains in Tier-2/3 cities. Even at ₹810, P/E would be ~90x—still rich.
Strengths vs Risks
✅ Strengths
Market leader in pizza QSR with strong brand recall
Asset-light franchise model with high ROCE (20.77%)
Intense competition from Zomato, Swiggy, and local players
Minimal dividends (0.24% yield)—not suited for income investors
Investment Suitability
Factor
Assessment
Risk Profile
High (overvalued, cyclical)
Time Horizon
Long-term (5+ years)
Volatility
High
Dividend/Income
None (0.24% yield)
Ideal Investor
Growth investor bullish on India’s QSR story; not for conservative portfolios
FAQs
Only if you accept high valuation risk. Fundamentals do not justify current multiples.
Interim dividend of ₹1.20/share declared; full-year likely ₹1.50/share (0.24% yield).
₹496 (as of January 2026).
Consumer Discretionary – Quick Service Restaurants (QSR).
Due to 17% profit decline, input cost inflation, and rich valuation, despite healthy sales growth.
Final Verdict
Jubilant FoodWorks is a high-quality QSR franchise with unmatched scale in pizza delivery. However, its current valuation (P/E 148x) and profit erosion make it a risky buy. Our 2026–2030 price targets (₹520–₹810) reflect cautious optimism—assuming execution improves and margins recover. Investors should wait for clearer earnings stabilization before building large positions.
📌 Disclaimer: Price targets are estimates based on current fundamentals and sector trends. They are not investment advice. Please consult a SEBI-registered advisor before investing.
