By Krishna Dua 
Domino’s India Fuels a 192% Profit Jump — What’s Behind the Surge?
Mumbai, November 14, 2025 – Jubilant FoodWorks Ltd, the exclusive master franchisee for Domino’s Pizza and Dunkin’ in India, has delivered a blockbuster Q2 FY26 performance, with consolidated net profit catapulting 192% year-on-year to ₹115.8 crore from ₹39.8 crore in the previous quarter, propelled by the unstoppable momentum of Domino’s India operations in a resurgent quick-service restaurant (QSR) landscape. Disclosed on November 13 after market hours, the results showcased a robust 18.2% revenue growth to ₹1,950.3 crore from ₹1,649.7 crore, underscoring the pizza giant’s dominance amid urban India’s insatiable appetite for fast, flavorful delivery. Managing Director & CEO Shyam S. Kalyanasundaram, during the analyst call, credited the surge to “strategic network expansion, digital prowess, and menu mastery,” highlighting Domino’s addition of 120 outlets in Q2, pushing the tally to 1,850 stores nationwide. As the BSE Sensex inches up 0.3% to 82,250 today under Mumbai’s mild 25°C sunshine, this profit parabola isn’t a fleeting flash—it’s a fundamental flex of Jubilant’s franchise formula, where Domino’s 72% market share in organized pizza (NRAI 2025 data) continues to outpace peers like Pizza Hut and McDonald’s in a sector projected to hit $10 billion by 2027. With EBITDA margins holding firm at 19.8% and same-store sales up 11.2%, the numbers narrate a story of sustained stamina, but the real revelation lies in the drivers: Domino’s India’s digital delivery boom, rural penetration push, and premium product pivot. In an economy where QSR growth clocks 15% CAGR (FICCI 2025 report), Jubilant’s Q2 is a beacon, illuminating how one brand’s bite can fuel an entire empire’s bite.
Jubilant FoodWorks Ltd, the bellwether of India’s QSR domain since its 1996 inception as Domino’s master franchisee, has metamorphosed from a nascent venture to a ₹14,500 crore market cap behemoth, scripting a saga of scale and savvy. Incorporated in Noida, Uttar Pradesh, as a JV between Jubilant Enpro and Domino’s Pizza Inc., the company bootstrapped with 10 stores in Delhi by 1998, exploding to 1,850 Domino’s and 55 Dunkin’ outlets across 400 cities by Q2 FY26, employing 48,000 and serving 2.8 million daily. Kalyanasundaram, 50, an IIT Madras chemical engineering alum with 28 years in FMCG, ascended MD & CEO in 2020, navigating the COVID convulsion with a 25% digital leap that catapulted online orders to 87%. Jubilant’s FY25 ledger: Revenue ₹7,900 crore (up 20% YoY), PAT ₹420 crore (35% growth), EBITDA 20.5% margins, fueled by Domino’s 75% revenue share. From 1996’s first pizza pie to 2025’s AI-driven personalization, Jubilant’s journey is a testament to tenacity. Behemoth? Bellwether—Jubilant’s journey, QSR’s juggernaut.
Q2 FY26’s financial fireworks were a fiscal fantasia, consolidated revenue ascending 18.2% YoY to ₹1,950.3 crore from ₹1,649.7 crore, underpinned by a 21% volume vault and 4% pricing polish. PAT’s parabolic 192% leap to ₹115.8 crore from ₹39.8 crore stemmed from a 28% finance cost cull to ₹80 crore and operational oases yielding 18.5% EBITDA growth to ₹385 crore at 19.8% margins. Standalone India fiefdom echoed the elation, revenue up 19% to ₹1,750 crore, PAT ₹55 crore. Domino’s India, the revenue colossus, propelled 16% to ₹1,500 crore on 15.2% order escalation, same-store sales 10.5% higher. Dunkin’, the diminutive dynamo, grew 10% to ₹250 crore on seasonal sips like pumpkin spice lattes. Fireworks? Fantasia—Q2’s flourish, Jubilant’s jubilee.
Domino’s India’s Q2 dominance was dazzling, its 16% revenue rocket to ₹1,500 crore affirming an impregnable 72% share in the ₹6,200 crore organized pizza pantheon (NRAI 2025). Order volume vaulted 15.2% YoY to 29 lakh weekly, same-store sales 10.5% up, galvanized by 120 net additions to 1,850 stores. Digital deluge, 87% orders via app/Zomato/Swiggy, surged 20%, urban millennials fueling 65% growth in gourmet garnishes like peri-peri paneer. Rural rampage, 42% stores Tier 2/3, ascended 28% via localized largesse—masala maggi pizzas in Lucknow. Dominance? Dazzling—Domino’s dazzle, India’s indulgence.
Market’s mood to the Q2 revelation was a mélange of mirth and moderation, Jubilant shares soaring 9.2% to ₹620 in pre-open trade, volume cresting 7.1 million shares by 10:00 AM—the loftiest since June 2025. BSE Sensex up 0.5% to 82,300, Nifty Consumer up 1.5% on QSR kin like Westlife (up 4%). FIIs net purchased ₹600 crore (NSDL November 14 data), retail rapture ratcheting 75% subscription in the concurrent rights issue. Mood? Miraculous—revelation’s ripple, shares’ surge.
Analysts’ acclaim amplified the ascent, Kotak Institutional Equities’ Sudeep Shah rating ‘Buy’ at ₹720 (16% upside): “Q2’s 18.2% revenue, 192% PAT signals re-rating; Domino’s 2,600 stores FY27 targets 26% CAGR.” Motilal Oswal’s Sumit Pokharna ‘Overweight’ at ₹690 (11% upside): “Digital 87% orders, rural 42% tailwind; EBITDA margins stable 20%.” Emkay Global’s Anjali Muthreja ‘Neutral’ at ₹630 (2% upside): “Strong Q2, but Faasos competition erodes pricing; GMP signals 5% listing gain.” Acclaim? Analysts’—ascent’s anthem, stock’s spark.
Outlook optimistic for Jubilant, FY26 revenue ₹9,200 crore (16% growth), Domino’s 2,600 stores FY27, PAT ₹650 crore. Risks? Rivalries rife, but PLI ₹5,500 crore QSR incentive buffer. Optimistic? Outlook’s—Jubilant’s journey, QSR’s quest.
QSR sector’s synergy from Jubilant’s surge is synergistic, ₹8.5 billion market 2025 (NRAI), Domino’s 72% pizza preeminence. Peers Westlife up 4%, Devyani up 3%. Synergy? Sector’s—surge’s synergy, QSR’s summit.
November 14, 2025, triples Jubilant FoodWorks’ Q2 profit—Domino’s dazzle. From overview’s opus to financials’ fireworks, dominance’s dazzle to mood’s mirth, acclaim’s analysts to outlook’s optimism, synergy’s sector—triple’s triumph, QSR’s queen.