Jubilant FoodWorks acquires 10.76 per cent stake in Barbeque-Nation Hospitality for Rs 92 crore
Jubilant FoodWorks Limited (JFL) today announced an investment of Rs 92 crore into Barbeque-Nation Hospitality Limited (BNHL) for an equity stake of 10.76 per cent.
BNHL operates Barbeque Nation (BBQ), which introduced the concept of live grilling of Kebabs to the Indian market. It owns and operates 138 Barbeque Nation restaurants across 73 cities in India along with 7 international outlets.
Reacting to this, the stock of Jubilant FoodWorks jumped 4.58 per cent on Thursday and made an intraday high of Rs 2,804.60 per share.
The company reported a net profit of Rs 75.78 crore in Q2FY21, an increase of 3.84 per cent. It had reported a profit of Rs 72.98 crore in Q2FY20. The company reported a total income of Rs 847.69 crore for Q2FY21, a decrease of 16.51 per cent as against the total income of Rs 1,015.35 crore for Q2FY20.
Jubilant FoodWorks is India’s largest foodservice company. Its Domino’s Pizza franchise has 1,264 restaurants in 281 cities. Jubilant FoodWorks has an exclusive right to develop & operate Domino’s Pizza brand in India, Sri Lanka, Bangladesh, and Nepal.
According to BSE data, the stock traded at a P/E multiple of 274.28 and a price-to-book ratio of 29.82. The stock has a 52-week high and a 52-week low of Rs 2,927.50 per share and Rs 1,141.80 per share, respectively.
The share price of the company closed at Rs 2,798, up by 4.34 per cent on BSE.