Jubilant FoodWorks shed 2.64% to Rs 1,245.35 at 14:05 IST on BSE after a foreign brokerage retained cautious outlook on the stock stating it has run ahead of fundamentals and expectations on near and even medium-term recovery seem to be high.
Meanwhile, the S&P BSE Sensex was up 56.34 points or 0.21% at 26,548.85.
On BSE, so far 9,690 shares were traded in the counter as against average daily volume of 30,196 shares in the past one quarter.
The stock hit a high of Rs 1,292.30 and a low of Rs 1,238.35 so far during the day. The stock had hit a 52-week high of Rs 1,389.95 on 5 November 2013. The stock had hit a 52-week low of Rs 938.60 on 30 April 2014.
The stock had outperformed the market over the past one month till 16 September 2014, surging 12.51% compared with Sensex's 1.49% rise. The scrip had, however, underperformed the market in past one quarter, jumping 5.08% as against Sensex's 5.17% rise.
The mid-cap company has equity capital of Rs 65.48 crore. Face value per share is Rs 10.
According to reports, though the brokerage feels Jubilant FoodWorks is well positioned in the underpenetrated Indian food services market but is concerned that medium-term profitability including margins and cash flows may remain under pressure.
Jubilant FoodWorks' net profit declined 18.4% to Rs 27.73 crore on 20.3% growth in net sales to Rs 476.74 crore in Q1 June 2014 over Q1 June 2013.
Jubilant FoodWorks is part of Jubilant Bhartia group and India's largest food service company, with a network of 749 Domino's Pizza restaurants across 152 cities (as of 19 May 2014). The company & its subsidiary have the exclusive rights to develop and operate Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal. At present it operates in India and Sri Lanka. The company is the market leader in the organized pizza market with a 67% market share in India (as per latest Euro monitor report). The company also has exclusive rights for developing and operating Dunkin Donuts restaurants for India and has launched 29 Dunkin Donuts restaurants across 10 cities in India (as of 19 May 2014).
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