Jubilant FoodWorks, the master franchisee of Domino’s Pizza, Dunkin’ Donuts, and Popeyes in India, issued a detailed clarification on Tuesday regarding media reports about an FIR filed against its Chairman, Shyam Sundar Bhartia. In an official filing with the stock exchanges, the company strongly refuted the allegations, stating that Bhartia had categorically denied all accusations, calling them “baseless, false, and disparaging.” The company further asserted that the claims were made “with clear malafide intent” and aimed at tarnishing his reputation.
To support its stance, Jubilant FoodWorks cited a Bombay High Court order, which, according to the company, had not examined the merits of the complaint but had merely directed the police to investigate the case independently. The company’s statement emphasized that Bhartia was a law-abiding citizen and would fully cooperate with the authorities whenever required.
Jubilant FoodWorks also reassured its investors, stating that the ongoing investigation would not affect its business operations in any way. The company maintained that the media reports had “no material impact” on its financial health, operational performance, or future outlook.
Despite the legal controversy, the company’s stock remained resilient, closing at ₹682.30 on the Bombay Stock Exchange (BSE), up 1.19% from the previous day. This suggests that investors are largely unfazed by the developments. However, the stock has experienced significant fluctuations in recent months, having dropped nearly 8% since the beginning of the year. Interestingly, it has shown a positive trajectory over the past month, gaining 6.88%, indicating a potential recovery trend.
Jubilant FoodWorks, which operates more than 1,800 Domino’s outlets across India, has been expanding aggressively into new markets and product categories. The company’s strategic focus on menu innovation, technology-driven operations, and international expansion has helped it maintain its competitive edge in the fast-food and quick-service restaurant (QSR) industry.
While the FIR remains under investigation, market analysts believe that Jubilant FoodWorks’ strong fundamentals, growing consumer demand for quick-service food, and expansion into Tier 2 and Tier 3 cities will help it weather any short-term legal or reputational challenges.
