President and CFO of Jubilant Foodworks Resigns

Jubilant Foodworks made an announcement regarding the resignation of Ashish Goenka, the company’s President, Chief Financial Officer (CFO), and Key Managerial Personnel (KMP). According to a regulatory filing, his resignation will be effective December 15, 2023. Goenka cited an external opportunity as the reason for his departure.

The filing stated, “We wish to inform that Ashish Goenka, President & Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company has resigned from the services of the company vide Resignation letter dated November 20, 2023. His last working day as the CFO and KMP of the Company would be December 15, 2023 (close of business hours).”

Earlier, in the preceding month, Jubilant Foodworks reported a second-quarter profit of Rs 97.20 crore, a 26.1% decrease from Rs 131.53 crore in the second quarter of FY23. The company recorded revenue from operations at Rs 1368.63 crore, a 5.2% increase compared to Rs 1301.49 crore in the corresponding quarter of the previous year. The growth was attributed to a 7.9% increase in Domino’s delivery channel sales. The average daily sales of mature stores stood at Rs 81,658, up by 1.4% sequentially. Domino’s Like-for-Like (LFL) sales showed a -1.3 % change during this period.

In his resignation letter, Goenka mentioned, “I hereby tender my resignation from the position of President & CFO and as KMP of Jubilant FoodWorks Limited to take up an external opportunity. I request you to relieve me from my role and responsibilities with effect from the close of business hours on December 15, 2023.” He expressed gratitude to the Board of Directors and the company for their support during his tenure.

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