Motilal Oswal cuts Jubilant FoodWorks target to Rs 500, stays Neutral after soft Q4
Delivery momentum holds but dine-in weakness, commodity, LPG and labor costs squeeze margins. Broker pegs FY26-28 revenue CAGR at 13% with Ebitda margin band of 12.5-13.0% and LFL growth of 5-7%, valuing India at 25x and international at 10x EV/Ebitda.
What happened
Motilal Oswal cuts Jubilant FoodWorks target to Rs 500, maintains Neutral after soft Q4. Delivery growth strong but dine-in weak; commodity, LPG and labor costs
Key facts
- Target Rs 500
- Revenue CAGR 13% FY26-28
- Ebitda margin 12.5%-13.0%
- LFL 5-7%
- 25x EV/Ebitda India
- 10x EV/Ebitda intl
Why this matters
The split valuation (India 25x, international 10x EV/Ebitda) frames how any portfolio reshaping, JV rework or international carve-out should be benchmarked when assessing strategic optionality.