Please find attached Transcript of conference call for Analysts and Investors for Q1FY27 results

JFL/NSE-BSE/2026-27/50 August 20, 2026 BSE Limited National Stock Exchange of India Limited P.J. Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex Mumbai – 400001 Bandra(E), Mumbai – 400051 Scrip Code: 533155 Symbol: JUBLFOOD Sub: Transcript of Conference Call Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Dear Sir/Madam, In continuation to our letter no. JFL/NSE-BSE/2026-27/48 dated August 13, 2026 and pursuant to Regulation 30 of the Listing Regulations, please find enclosed herewith the Transcript of Conference Call for Analysts and Investors held on Wednesday, August 13, 2026 for Q1FY27 results. The above details will also be available on the website of the Company at www.jubilantfoodworks.com under Investor Relations section. This is for your information and records. Thanking you, For Jubilant FoodWorks Limited Mona Aggarwal Company Secretary and Compliance Officer Investor E-mail id: investor@jublfood.com Encl: A/a “Jubilant FoodWorks Limited Q1FY27 Earnings Conference Call” August 13, 2026 MANAGEMENT: MR. SHYAM S. BHARTIA – CHAIRMAN & DIRECTOR MR. SAMEER KHETARPAL – CEO & MD MS. SUMAN HEGDE – CHIEF FINANCIAL OFFICER MR. APAR – HEAD OF INVESTOR RELATIONS NOTE: THIS TRANSCRIPT HAS BEEN CORRECTED FOR READABILITY, CLARITY AND ACCURACY AT SOME INSTANCES. Page 1 of 14 Jubilant FoodWorks Limited August 13, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q1 FY27 Earnings Conference Call hosted by Jubilant FoodWorks Limited. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star and then zero on your touch tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Apar, Head of Investor Relations at Jubilant FoodWorks. Thank you, and over to you, Mr. Apar. Apar: Thank you so much, Sagar. Welcome to Jubilant FoodWorks Q1 FY27 Earnings Call for investors and analysts. We are joined today by senior members of the management team, including our Chairman, Mr. Shyam S. Bhartia, our CEO and MD, Mr. Sameer Khetarpal, and our CFO, Ms. Suman Hegde. Please note that this earnings call is scheduled for a duration of 45 minutes, and we will commence directly with the Q&A session. Along with the Q1FY27 financial results, we have released a letter to our shareholders in which we have shared our outlook and have already answered certain pertinent questions about the performance. Hence, the participants are requested to limit the scope of discussion to only strategic questions and the count of questions to only 2. If you wish to seek any accounting clarification, kindly get in touch with the Investor Relations team later. A cautionary note before we move ahead. Some of the statements made on today's call would be forward looking in nature, and the actual results may vary from such statements. I will now hand over the call to the moderator to begin the Q&A session. Moderator: Thank you very much. We will now begin with the Q&A session. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question comes from the line of Kunal Vora with BNP Paribas. Please go ahead. Kunal Vora: Thanks for the disclosure on Popeyes. So I just wanted to understand the acceleration in LFL growth from 9.2% in 1QFY26 to 45% in 1QFY27. What's driving it and when does this normalize and what level do you expect it to normalize at? Sameer Khetarpal: So, Kunal, firstly, I think just stepping back, Popeyes definitely has become a second growth engine for Jubilant FoodWorks, and we genuinely believe the work that the team has done to take Popeyes, which is a relatively lesser known brand in India, but very popular in the US and is the second largest brand after Chick-fil-A. So it has overtaken multiple fried chicken competitors in its market. On the back of 3 things which we have replicated in India. Firstly, a superior product through a better marination process, the fresh chicken, and supported by a very strong supply chain of Jubilant FoodWorks. So, firstly, it is that pieces are intact. Second is we've built the brand very assiduously in terms of flavors, launching wings, and product innovation that differentiates brand relative to the competition. Page 2 of 14 Jubilant FoodWorks Limited August 13, 2026 And third is the execution on store opening has been very, very good in the last 3 quarters or 4 quarters. So these 3 structural tailwinds or structural factors are giving us 40%-45% growth rate. As you see, the ADS is still behind the number one player in the market, right? And we believe, we should surpass that. The brand has legs to even go beyond it. That's how we are viewing it. I would want this number of 45% to be there forever, right, if wishes were horses. So we are not taking a view on this will normalize to 10% or 9%. That's not how we are thinking. Our first goal is to make sure that our average daily sales are materially higher than even where we are today. Kunal Vora: So, what I was trying to understand is like, how did 9% become 45%? So what action resulted in a significant acceleration? Sameer Khetarpal: Same thing. Kunal Vora: Okay, same thing. Sameer Khetarpal: So, Kunal, same thing. Superior product, better store execution, and differentiating the marketing story and the culinary story on more flavors. And things like, we have 6 flavors of chicken wings, right? Very few players in the world are able to do it, right, and with different sauces. Similarly, we obsess about buns, right, and the amount of time the team has spent on buns. So as a result, customer experience in product satisfaction is among the highest in the world in Popeyes, it's not a big brand in 90 countries, but still whatever 30-40 countries it is present in, it is among the best or top quartile among the 30-40 countries that Popeyes is present in. So that's been the simple recipe for 40% growth. Kunal Vora: Understood. Second question, your employee cost per store does not seem to have increased in the last year. Like there will be wage inflation, minimum wages have increased. Can you help us understand that? And lastly, also if you can comment on capex, what's the number been for this quarter as well as what do you expect for FY27? That’s it from me. Suman Hegde: I'm just trying to understand where you're reading the numbers from. Because we've seen a 12% increase in personnel costs on the standalone basis and about 15.6% on the consolidated basis year-over-year. So which number are you referring to? Kunal Vora: I'm looking at on a per-store basis. I was looking at like per-store basis employee cost, because your store count also has gone up by similar number, right? Suman Hegde: Yes, let me give you some flavor on what we do. So yes, if I look at a per-store basis, now there are headwinds. Okay, let me come back. There are headwinds on the cost. There are headwinds on account of minimum wages. There's headwind also on account of some of the new stores that we open from an absolute point of view. Page 3 of 14 Jubilant FoodWorks Limited August 13, 2026 Having said that, our productivity in store, right? Even we have spoken about this in the previous calls as well. Our productivity in terms of what we measure of orders per hour that person can do in the store has materially improved, which kind of brings down our cost within the store while the absolute can go up. So that's one of the key factors for bringing the per-store personnel cost down. But if I look at an overall headwind in terms of wage increase, wage bill increase, and in terms of what we have seen on overall stores increase that we have seen, that of course is down. Sameer Khetarpal: I think this includes supply chain headcount [Showing first 8,000 characters — download PDF for full document]