Jubilant FoodWorks to diversify into non-food biz

Jubilant FoodWorks that operates Dominos Pizza chain in India today said it plans to diversify into new areas, including operating hotels and other non-food segments such as garments and fashion accessories.

In a filing to the Bombay Stock Exchange (BSE), the company said it has sought shareholders' approval through a postal ballot to enter into the new businesses.

As per the company's plans, it is seeking to enter into businesses such as stationary items, fashion accessories, toys, gift items, DVDs, VCDs and home decor items.

Besides, it is also looking to operate hotels, restaurants, beach resorts, health resorts, cafes and motels.

"The company has drawn up plans to tap huge market available by venturing into new business initiatives in the food business," the filing said.

Other items that the company could start dealing in are baby and dietetic products, pickles, spices, wines and liquors.

The firm has intentions to cultivate, prepare or market any organic, agricultural or plantation produce and sell it in India or elsewhere.

Jubilant FoodWorks also said it could also look to construct, own, hire or maintain cold storages, ice plants, warehouses, freezing houses and room coolers for storing food products being dealt by the company as a part of its business in India.

The company will get to know if the shareholders have approved new plan when the result of the postal ballot is announced on April 21.

It has recently signed a master franchise agreement with US' leading baked food and coffee chain Dunkin' Donuts to bring the brand in the country.

Shares of the company closed today at Rs 561.75 per share on the BSE, down 0.18% from its previous close.