Sands Capital hikes stake in Jubilant Foodworks

Sands Capital Management, a discretionary investment manager registered with the United States Securities and Exchange Commission, purchased 39.36 lakh equity shares, or 2.98% stake, of Jubilant Foodworks.

The transaction was executed through the open market on 31 March 2021. Post transaction, Sands Capital Management has increased its shareholding in Jubilant Foodworks to 7.0256% stake from 5.0075% held earlier.

On a consolidated basis, Jubilant Foodworks' net profit jumped 21.7% to Rs 123.92 crore on 0.2% fall in net sales to Rs 1,069.28 crore in Q3 December 2020 over Q3 December 2019.

The company is India's largest food service company. Its Domino's Pizza franchise extends across a network of 1,314 restaurants in 285 cities (as of 31 December 2020). The company also enjoys exclusive rights to develop and operate Dunkin' Donuts restaurants in India, has in operation 27 restaurants across 8 cities in India (as of 31 December 2020).

Shares of Jubilant Foodworks rose 0.47% to close at Rs 2,881.30 on Friday (9 April 2021).

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