Jubilant Bhartia Group

What Jubilant Bhartia Group does

Jubilant Bhartia Group is a privately held, founder-controlled Indian conglomerate headquartered in Noida, Uttar Pradesh. Founded by Shyam S Bhartia and Hari S Bhartia, the group operates across pharmaceuticals, specialty chemicals and CDMO, food services (QSR), agri products and performance polymers, services (aerospace, power & infrastructure, offshore), auto retail, food, and beverages. It employs approximately 46,000 people globally and operates through four flagship listed subsidiaries (Jubilant Pharmova, Jubilant Ingrevia, Jubilant FoodWorks, and Jubilant Industries) alongside unlisted adjacent businesses including Jubilant Enpro, Jubilant MotorWorks, Jubilant Consumer, and the recently formed Jubilant Beverages Limited.

The group's core revenue engines are Jubilant FoodWorks, which holds exclusive master franchise rights for Domino's Pizza (2,079 restaurants across 447 cities in India as of September 2024), Dunkin' Donuts, Hong's Kitchen, and Popeyes across India and select South Asian markets; Jubilant Pharmova, a global integrated pharma company operating in radiopharma (46 US radio-pharmacies), allergy immunotherapy, CDMO sterile injectables, CRDMO, generics, and proprietary novel drugs across six regulated-market manufacturing facilities; Jubilant Ingrevia, which is globally #1 in Pyridine and 11 Pyridine derivatives with 50 plants across 5 manufacturing facilities and a 130+ product portfolio serving pharma, nutrition, agrochemical, semiconductor and industrial customers; and Jubilant Industries' agri/consumer business featuring JIVANJOR adhesives (#2 in India) and VP Latex (#1 in India, #2 globally). Revenue mechanics combine franchise royalties and direct restaurant sales (QSR), regulated-market pharma manufacturing and licensing, specialty chemicals direct sales, and distributor/wholesale agri products.

In 2024–2025 the group executed a major strategic expansion by establishing Jubilant Beverages Limited and acquiring a 40% stake in Hindustan Coca-Cola Holdings for approximately Rs 12,500 crore in July 2025, entering India's beverage bottling and distribution business under a joint-ownership arrangement with The Coca-Cola Company. The group is also investing in AI capability, having entered the World Economic Forum's Global Lighthouse Network in 2024 for 4IR/AI-enabled manufacturing at Jubilant Ingrevia and signing an MoU with McGill University in February 2026 to establish an AI Centre of Excellence in India.

Name

Jubilant Bhartia Group

Legal name

Jubilant Bhartia Group

Website

https://jubilantbhartia.com

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Jubilant Bhartia Group is a privately held Indian conglomerate founded by the Bhartia brothers, operating through four listed subsidiaries in pharmaceuticals, specialty chemicals, food services (QSR), and agri products, with a recent expansion into Coca-Cola beverage bottling and global manufacturing operations spanning ~46,000 employees.

Ownership category

akta.pro rank

Product category

Diversified Industrial Conglomerate

NAICS

Beverage Manufacturing (3121), Soft Drink Manufacturing (312111), Food Manufacturing (311)

SIC

Beverages (2080), Food And Kindred Products (2000), Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Non-Carbonated Soft Drinks (Juice Drinks, Lemonades, Fruit Drinks) (CRADAHAB)

Keywords

• Pharmaceutical manufacturing
• Specialty chemicals
• Quick service restaurants
• Agrochemical products
• Aerospace services

Headquarters

HQ city

Noida

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Food Services (QSR) Revenue: Jubilant FoodWorks generates revenue through Domino's Pizza, Dunkin' Donuts, Hong's Kitchen, and Popeyes restaurants operating as master franchisee. Revenue comes from restaurant sales to consumers across 447 cities with 2,079 Domino's, 32 Dunkin' Donuts, 34 Hong's Kitchen, and 54 Popeyes restaurants as of September 2024.
2. Pharmaceuticals Revenue: Jubilant Pharmova earns revenue through multiple streams: Radiopharma (46 radio-pharmacies in US), Allergy Immunotherapy (US and international markets), CDMO Sterile Injectables, Contract Research Development Services, Generics manufacturing and sales, and Proprietary Novel Drugs development.
3. Specialty Chemicals & CDMO Revenue: Jubilant Ingrevia generates revenue through specialty chemicals manufacturing (Pyridine, Picolines, Acetic Anhydride, Vitamin-B3) serving Pharmaceutical, Nutrition, Agrochemical, Consumer, Semiconductor and Industrial customers globally.
4. Agri & Consumer Products Revenue: Jubilant Agri and Consumer Products Limited earns revenue from fertilizers (SSP), Crop Nutrition, Crop Growth Regulators, adhesives (Jivanjor brand - 2nd largest in India), wood finishes (Charmwood, Ultra Italia), food polymers, and latex products (VP Latex - #1 in India, #2 globally).
5. Beverages Revenue: Jubilant Beverages Limited through its 40% stake in Hindustan Coca-Cola Holdings generates revenue from manufacturing, producing, selling, distributing and bottling of beverages, aerated waters, soft drinks, concentrates and fruit juices.
6. Services Revenue: Jubilant Enpro provides services in Aerospace, Power & Infrastructure and Offshore support sectors through partnerships with international companies including Bell Helicopter, Textron Aviation, Transocean, and DOF.

Go-to-market motion5 records

Distribution channels6 records

Marketing channels4 records

Core offering

Jubilant Bhartia Group is a diversified Indian conglomerate operating across pharmaceuticals, specialty chemicals, life science ingredients, agri products, performance polymers, food services (QSR), automotive retail, aerospace and oilfield services, and consumer food brands. The group manufactures and sells pharmaceuticals, radiopharmaceuticals, pyridine-based specialty chemicals, agrochemicals/SSP fertilizers, and wood finishes, while also running Domino's Pizza, Dunkin', Popeyes, and Hong's Kitchen franchises in India through Jubilant FoodWorks.

Product overview

Jubilant Bhartia Group is a diversified Indian conglomerate with four flagship listed companies operating across multiple sectors. Jubilant Pharmova Limited leads in pharmaceuticals with radiopharma, allergy immunotherapy, CDMO sterile injectables, generics, and proprietary novel drugs. Jubilant Ingrevia Limited is a global specialty chemicals and CDMO player with 130+ products. Jubilant FoodWorks Limited operates as the master franchisee for Domino's Pizza and Dunkin' Donuts in India. Jubilant Industries Limited focuses on agri products and performance polymers through its subsidiary JACPL. Additional businesses include auto retail (Jubilant MotorWorks), aerospace and services (Jubilant Enpro), food products (Jubilant Consumer), beverages (Jubilant Beverages Limited), and CSR initiatives (Jubilant Bhartia Foundation). The group has a global workforce of around 46,000 employees.

Differentiator

Problem solved

Functional benefit

Brands

• Jubilant Pharmova: Global integrated pharmaceutical company involved in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, CRDMO, Generics and Proprietary Novel Drugs
• Jubilant Ingrevia
• Jubilant FoodWorks
• Jubilant Industries
• Jubilant Enpro
• Jubilant MotorWorks
• Jubilant Bhartia Foundation
• Domino's Pizza
• Dunkin' Donuts
• Hong's Kitchen
• Popeyes
• Jubilant Beverages Limited (JBVL)
• Fresh Finds
• GoGourmet

Products and services

• Radiopharmaceuticals and Allergy Immunotherapy Products
• CDMO Sterile Injectables and CRDMO Services
• Pyridine, Picolines and Acetic Anhydride
• Vitamin B3 (Niacin) and Niacinamide
• Domino's Pizza India
• Dunkin' Donuts and Restaurants India
• Popeyes and Hong's Kitchen Restaurants
• SSP Fertilizers and Crop Nutrition Products
• JIVANJOR and Charmwood Wood Finishes
• Audi and MG Motor Dealerships (The Cars Collective)
• Aerospace Manufacturing and MRO Services
• Offshore Oilfield and Power Infrastructure Services
• Fresh Finds and GoGourmet Consumer Food Brands
• Beverages and Bottling (Hindustan Coca-Cola Holdings)

Quantifiable outcome

• 72% market share in India's chained pizza market
• +4 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• McGill UniversityflagshipStrategic or Co-development Partner · 28 February 2026Jubilant Bhartia Foundation and McGill University signed an MoU to establish an AI Centre of Excellence in India, focused on education and research. The initiative aims to address India's AI talent gap amid rapid digital economy growth and AI adoption across various sectors. The centre will offer a Master's program and serve as a research hub.
• Coca-Cola / Hindustan Coca-Cola HoldingscoreStrategic or Co-development Partner · 1 July 2025Jubilant Bhartia Group acquired a 40% stake in Hindustan Coca-Cola Holdings (HCCH) for nearly Rs 12,500 crore in July 2025. Jubilant Beverages Limited was established in October 2024 to carry on the business of beverage manufacturing, producing, selling, distributing and bottling. This represents a strategic entry into the beverages sector.
• Schwab Foundation for Social EntrepreneurshipcoreStrategic or Co-development PartnerJubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship jointly recognize Social Entrepreneur of the Year - India award to promote social entrepreneurship in India.
• Domino's Pizza (Yum! Brands)coreChannel Partner/ Reseller/ DistributorJubilant FoodWorks is the exclusive master franchisee for Domino's Pizza brand in India, Nepal, Bangladesh and Sri Lanka, operating 2,079 restaurants across 447 cities as of September 2024.
• Dunkin' Donuts Franchising LLCcoreChannel Partner/ Reseller/ DistributorJubilant FoodWorks holds exclusive rights for developing and operating Dunkin' Donuts brand in India with 32 restaurants across 12 cities as of September 2024.
• Bell HelicopterminorChannel Partner/ Reseller/ DistributorJubilant Enpro is the sole authorized Independent Representative of Bell Helicopter in India for sales, marketing and customer support.
• Textron AviationminorChannel Partner/ Reseller/ DistributorJubilant Enpro is a channel partner for sales and marketing of Cessna Citation, Cessna Caravan and Beechcraft aircraft product range.
• US Government / White HouseflagshipStrategic or Co-development PartnerHari S Bhartia, Co-Chairman of Jubilant Bhartia Group, was among seven Indian CEOs invited to meet with US President Donald Trump at the World Economic Forum in Davos, highlighting India's growing corporate presence and US-India business relations.

Scale indicators11 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• PI Industries: Listed Indian agrochemicals and specialty chemicals company with strong CSM (custom synthesis manufacturing) business serving global innovators. Comparable to Jubilant Ingrevia's agrochemical and specialty CDMO operations.
• Devyani International: Master franchisee for KFC and Pizza Hut in India, directly comparable to Jubilant FoodWorks as a listed Indian QSR operator running master franchise rights for global brands with a focus on home delivery.
• Dr. Reddy's Laboratories: Listed Indian pharmaceutical company with global generics, API, and biosimilars businesses. Comparable to Jubilant Pharmova as a globally integrated Indian pharma company serving regulated markets with manufacturing and CDMO capabilities.
• SRF Limited: Listed Indian specialty chemicals manufacturer with strong positions in fluorochemicals, packaging films, and technical textiles. Comparable to Jubilant Ingrevia as an Indian specialty chemicals player serving global pharma and industrial customers.
• Varun Beverages: Listed PepsiCo India bottler and largest Indian beverage franchise operator. Directly comparable to Jubilant Beverages' HCCH stake as a capital-intensive Indian bottling/distribution platform for global beverage brands.
• Restaurant Brands Asia: Listed Indian operator of Burger King and Popeyes franchises in India and other South Asian markets. Directly comparable to Jubilant FoodWorks on master-franchise QSR model and overlapping Popeyes rights in India.

Broad incumbents

• Godrej Group: Indian conglomerate with businesses in consumer products (Godrej Consumer Products), agrochemicals (Godrej Agrovet), and real estate. Comparable as a diversified, founder-led Indian group with overlapping consumer products and chemicals exposure.
• Reliance Industries: India's largest private-sector conglomerate spanning petrochemicals, retail, digital services, and Jio platforms. Comparable as a diversified Indian conglomerate with overlapping consumer-facing and chemicals businesses, though at substantially greater scale.
• Tata Group: Historic Indian conglomerate with businesses across Tata Chemicals, Tata Motors (including Jaguar Land Rover), Tata Consumer Products, and Titan. Comparable as a diversified Indian group with multi-listed structure and global operating footprint.
• Aditya Birla Group: Indian conglomerate with significant overlap in chemicals (Aditya Birla Chemicals, Grasim Industries), metals, cement, and fashion retail. Comparable as a diversified Indian group with global specialty chemicals exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/jubilant-bhartia-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries16 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jubilant Bhartia Group