Jubilant FoodWorks shares fell as much as 2.2% to touch an intraday low of ₹420.80 on Tuesday, July 14, following the receipt of a GST demand notice. According to reports from The Economic Times, the stock was trading at ₹422.6 per share on the National Stock Exchange at 3:06 PM, representing a 2.04% decline. From the beginning of the year, the quick-service restaurant chain operator's shares have fallen 23.5%, while over a six-month period, the stock has tanked 20%. The company's shares had touched their one-year high of ₹695.50 on July 17, 2025, while their 52-week low of ₹408.80 was hit on April 7, 2026.
In a regulatory filing, Jubilant FoodWorks disclosed receiving a show cause notice (SCN) from the GST Department proposing a GST demand amounting to ₹46,90,96,051. As reported by The Economic Times, the notice alleges that the Input Tax Credit (ITC) has been reversed in the "incorrected table" while filing the GST return of JFL. The flagship company of the Jubilant Bhartia Group, which holds franchise rights for global QSR brands including Dominos and Popeyes, received the show cause notice on July 13. The company stated that the "alleged wrong presentation/classification of ITC reversal" has "no financial impact" on the company.
According to the regulatory filing reported by The Economic Times, Jubilant FoodWorks said it will challenge the GST department's notice. The company stated that it is in the process of filing detailed objections within the stipulated timelines as per the SCN. The company expects that "post such filings, the impugned SCN and proposed demand is likely to be dropped." The company operates chains like Domino's, Popeyes, and Hong's Kitchen across India.
Despite the GST notice, Jubilant FoodWorks reported strong financial results for Q4 FY26. As reported by The Economic Times, the company had reported a 66.23% year-on-year jump in consolidated net profit to ₹79.79 crore in the fourth quarter ended March 31, 2026, compared to ₹48 crore in the corresponding quarter of the preceding fiscal. Its consolidated revenue from operations in the fourth quarter stood at ₹2,499.46 crore, marking a 19.3% YoY surge from ₹2,095.02 crore in the year-ago period. The company's EBITDA increased 23.7% YoY to ₹484.9 crore with EBITDA margin expanding by 69 basis points YoY to 19.4%. For FY26, its consolidated net profit jumped 103.3% YoY to ₹428.48 crore against ₹210.76 crore in FY25.
According to data on the NSE as of July 14, 2026, Jubilant FoodWorks has a total market capitalisation of ₹27,894.96 crore. The company's market position reflects its significant presence in the Indian quick-service restaurant sector through its franchise operations of international brands.
