New Delhi, March 21 -- Global brokerage house CLSA has highlighted its concerns on Jubilant Foodworks over potential financial risks stemming from the sharp depreciation of the Turkish Lira. The brokerage downgraded the stock to 'hold' and slashed its target price to Rs.450, implying a potential downside of 28 percent from previous close.

The depreciation of the Turkish Lira has emerged as a major headwind for Jubilant FoodWorks, which acquired DP Eurasia, the master franchisee of Domino's Pizza in Turkey, Azerbaijan, and Georgia, in early 2024. DP Eurasia contributed 31 percent of Jubilant's group system sales in Q3FY25, making its financial performance critical for the company's consolidated earnings.

CLSA warned that the Lira's 5 per...