Jubilant FoodWorks Limited (JFL) is India’s leading quick-service restaurant (QSR) company. JFL commands nearly 70% market share in the organised Indian pizza market.
Valuation: We expect strong performance to sustain going forward given strong demand, solid SSG, store expansion and margin improvement. Recommend ‘BUY’ rating on the stock with revised target price of Rs. 1,460 based on 45x Sept’20E earnings.
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