For Q4 FY26, the consolidated revenue from operations increased by 19.1% year-on-year (YoY) to ₹2,505.8 crore, whereas standalone revenue saw a 6.2% YoY rise to ₹1,686 crore.
For the complete fiscal year FY26, consolidated revenue reached ₹9,544 crore, reflecting a 17.2% YoY increase, while standalone revenue improved by 12.8% YoY to ₹6,887.8 crore.
Same-store sales growth in India remained subdued, with Domino’s India showing a mere 0.2% like-for-like growth in Q4, while Domino’s Turkey achieved a stronger 9% growth.
| Quarter | Domino’s India LFL |
|---|---|
| Q3 FY25 | +12.5% |
| Q4 FY25 | +12.1% |
| Q1 FY26 | +11.6% |
| Q2 FY26 | +9.1% |
| Q3 FY26 | +5.0% |
| Q4 FY26 | +0.2% |
The decline is predominantly attributed to ongoing commercial LPG supply issues, as over 95% of the company’s outlets rely on LPG.
Elara Securities indicates that this factor is likely the primary reason for the shortfall, rather than any fundamental demand weakness, particularly as competition within the pizza sector continues to ease.
The brokerage plans to closely monitor the LFL trends moving forward to determine if the Q4 decline is a temporary issue or a sign of ongoing challenges, which could bring about potential adjustments to forecasts and valuation multiples.
It also noted that lasting enhancements in profitability are essential for a near-term re-rating.
Elara Securities holds a ‘Buy’ rating on Jubilant FoodWorks, setting a target price of ₹780 per share, based on a reduction in competitive pressures within the pizza market, an increased focus on deliveries aligning with changing consumer preferences, and possible margin improvement factors.
In terms of expansion, the group added a net total of 69 stores during the quarter, bringing the overall store count to 3,663.
Domino’s India opened 59 new stores to reach 2,455 outlets, while Domino’s Turkey added four stores, increasing its total to 787.
Shares of Jubilant FoodWorks closed Monday’s trading session up 3.24% at ₹461; however, the stock has declined by 17% year-to-date.
