Goldman Sachs maintained its neutral rating on Jubilant Foodworks but cut the target price to ₹460 from ₹480 earlier. According to reports from The Times of India, analysts noted that in the January-March quarter (Q4FY26) the company's earnings before interest, taxes, depreciation and amortisation (EBITDA) was slightly ahead of estimates due to Dunkin' classification as discontinued operations. However, analysts flagged near-term margin pressure from energy, wage and raw material inflation that has now materialized in the latest results.
Jubilant Foodworks reported strong Q4FY26 results with net profit surging 66% to ₹79.79 crore and revenue rising 19% as reported by The Times of India. However, shares plunged over 8% on Thursday as investors focused on operational challenges rather than the headline numbers. Operations took a hit from LPG supply issues in March, which hurt Domino's sales according to the latest reports. Rising expenses, like energy, wages, and raw materials, also squeezed margins despite the strong profit growth.
Domino's Pizza's like for like (LFL) growth in India was 0.2% on the year (YoY) as reported by The Times of India. The average bill value declined due to lower free-delivery threshold, with management indicating bill values to stabilise in early Q1FY27. Analysts expect Domino's India growth to lag peers in FY27 amid ongoing operational challenges.
Nomura has a buy rating on BPCL with the target price at ₹365, citing the refiner's strong gross refining margin (GRM) in Q4FY26 from higher cracks and likely inventory gains. According to The Times of India, Morgan Stanley maintained its overweight rating on PI Industries with the target price at ₹3,883. Nuvama upgraded Grasim Industries to buy from hold with a target price of ₹3,546 from ₹3,336. However, Goldman Sachs's target price cut to ₹460 reflects the brokerage's cautious outlook on Jubilant Foodworks amid rising costs and slower growth. The board did propose a ₹1.2 per share dividend for FY26 (pending approval), but overall market sentiment remained cautious following the earnings announcement.
Motilal Oswal Securities maintained its buy rating on Bharat Electronics with the target price at ₹510, down from ₹520. According to The Times of India, analysts expected the company's strong margin performance to continue and it can sustain revenue growth of over 15% over the next few years. They expected order inflows exceeding ₹55,000 crore in FY27.
