Jubilant FoodWorks Q3: Revenue Growth Slowest in Current Financial Year

Jubilant FoodWorks has reported consolidated revenue from operations of ₹2,439.00 crore in Q3, marking a 13.4% year-on-year growth. However, this represents the slowest revenue growth rate in the current financial year for the quick service restaurant company, indicating a deceleration in business momentum compared to earlier quarters.

Q3 Financial Performance Overview

The company's Q3 results show a notable slowdown in growth trajectory when compared to previous quarters of the current financial year. While the company maintained double-digit growth, the pace has moderated significantly.

Operation Type:	Q3 Revenue	Growth (YoY)
Consolidated Operations:	₹2,439.00 crore	13.4%
Standalone Operations:	₹1,802.00 crore	11.8%

Growth Trajectory Comparison

The quarterly performance data reveals a consistent deceleration pattern throughout the current financial year. The consolidated revenue growth has shown a declining trend across quarters.

Quarter:	Consolidated Growth	Standalone Growth
Q1 Current Year:	17.0%	18.2%
Q2 Current Year:	19.7%	15.8%
Q3 Current Year:	13.4%	11.8%

Store Expansion and Network Growth

Despite the revenue growth slowdown, Jubilant FoodWorks maintained its expansion strategy by adding 114 stores during Q3, bringing the total store count to 3,594 outlets. The company is progressing towards its full year guidance of 3,750-3,800+ outlets, indicating continued confidence in market expansion despite growth deceleration.

Expansion Metrics:	Q3 Performance
Net Stores Added:	114
Total Store Count:	3,594
Full Year Guidance:	3,750-3,800+ outlets
Domino's India LFL Growth:	5.0%
Domino's Turkey LFL Growth:	6.3%

Market Performance Analysis

The deceleration in revenue growth across both consolidated and standalone operations suggests broader market challenges or increased competition in the quick service restaurant sector. However, the company's adherence to its store expansion guidance demonstrates management's commitment to long-term growth strategy. The like-for-like growth metrics provide insight into same-store performance, with Turkey operations outperforming the India business in comparable store growth during the quarter.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.67%	-3.74%	-9.41%	-24.32%	-29.90%	-3.64%

Jubilant FoodWorks Limited, which operates fast-food chains Domino's Pizza and Dunkin' Donuts, has announced the divestment of its complete stake in associate company Hashtag Loyalty Private Limited through a Share Purchase Agreement executed on December 29, 2025. The transaction involves the sale of the company's entire 31.66% holding in Hashtag Loyalty for a total consideration of ₹6,415.94.

Transaction Details

The Share Purchase Agreement was signed with Mr. Karan Chechani, one of the founders of Hashtag Loyalty Private Limited. Following the completion of this transaction, Hashtag Loyalty will cease to be an associate company of Jubilant FoodWorks.

Parameter:	Details
Stake Being Sold:	31.66% (entire holding)
Total Consideration:	₹6,415.94
Buyer:	Mr. Karan Chechani (Founder)
Agreement Date:	December 29, 2025
Expected Completion:	On or before February 12, 2026

Financial Impact and Background

The divestment follows the discontinuance of business operations at Hashtag Loyalty Private Limited. During the previous financial year 2024-25, Jubilant FoodWorks had already fully impaired its investment in the associate company, indicating that the financial impact of this sale had been accounted for in prior periods.

Financial Metrics (FY 2024-25):	Hashtag Loyalty	Contribution to JFL Consolidated
Total Income:	₹27.47 million	Nil
Net Worth (March 31, 2025):	₹1.22 million	Nil

Market Performance and Regulatory Compliance

Shares of Jubilant FoodWorks Limited ended at ₹563.15, up by ₹3.35, or 0.60% on the stock exchange following the announcement. The transaction does not fall within the ambit of related party transactions, as the buyer is not part of the promoter, promoter group, or group companies of Jubilant FoodWorks. The company has made this disclosure in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations 2015.

Strategic Implications

This divestment represents Jubilant FoodWorks' strategic decision to exit from Hashtag Loyalty following the discontinuance of the associate's business operations. The sale to one of the original founders suggests an orderly wind-down of the company's involvement in this venture. With the investment already fully impaired in the previous financial year, the transaction is not expected to have any material impact on the company's current financial performance.