Sapphire Foods India Ltd
Sapphire Foods is one of the largest franchisees of Yum! Brands Inc. in the subcontinent, and operates more than 400 KFC, Pizza Hut, and Taco Bell restaurants across India, Sri Lanka, and the Maldives.[1]
- Market Cap ₹ 6,397 Cr.
- Current Price ₹ 199
- High / Low ₹ 293 / 140
- Stock P/E 1,534
- Book Value ₹ 38.6
- Dividend Yield 0.00 %
- ROCE 2.99 %
- ROE -1.99 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 5.16 times its book value
- Company has low interest coverage ratio.
- Promoter holding is low: 26.1%
- Company has a low return on equity of 1.23% over last 3 years.
- Promoter holding has decreased over last 3 years: -15.6%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 617 | 761 | 960 | 1,104 | 805 | 1,398 | 1,981 | 2,236 | 2,451 | 2,625 | 2,855 | |
| 651 | 762 | 941 | 957 | 715 | 1,161 | 1,589 | 1,818 | 2,035 | 2,227 | 2,406 | |
| Operating Profit | -34 | -0 | 19 | 147 | 90 | 238 | 392 | 419 | 416 | 398 | 449 |
| OPM % | -6% | -0.1% | 2.0% | 13% | 11% | 17% | 20% | 19% | 17% | 15% | 16% |
| 23 | 3 | 9 | -70 | 53 | 34 | 28 | 31 | 12 | 3 | -1 | |
| Interest | 1 | 1 | 16 | 60 | 66 | 67 | 80 | 94 | 105 | 115 | 119 |
| Depreciation | 49 | 40 | 55 | 156 | 174 | 180 | 239 | 291 | 326 | 349 | 358 |
| Profit before tax | -62 | -38 | -42 | -139 | -97 | 25 | 101 | 65 | -3 | -63 | -29 |
| Tax % | -4% | -6% | 0% | 0% | 0% | 0% | -124% | 22% | 127% | -23% | |
| -60 | -36 | -42 | -139 | -97 | 25 | 226 | 51 | -6 | -48 | -21 | |
| EPS in Rs | -2.87 | -1.72 | -1.95 | -5.53 | -3.66 | 0.78 | 7.12 | 1.59 | -0.20 | -1.51 | -0.64 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 10% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | % |
| TTM: | 125% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -9% |
| 1 Year: | -30% |
| Return on Equity | |
|---|---|
| 10 Years: | 0% |
| 5 Years: | 5% |
| 3 Years: | 1% |
| Last Year: | -2% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 42 | 42 | 43 | 50 | 53 | 64 | 64 | 64 | 64 | 64 | 64 |
| Reserves | 533 | 497 | 460 | 504 | 462 | 978 | 1,087 | 1,165 | 1,193 | 1,166 | 1,175 |
| 0 | 20 | 72 | 554 | 570 | 726 | 908 | 1,103 | 1,234 | 1,328 | 1,427 | |
| 135 | 156 | 386 | 159 | 170 | 313 | 330 | 278 | 296 | 374 | 435 | |
| Total Liabilities | 710 | 715 | 961 | 1,267 | 1,255 | 2,081 | 2,389 | 2,610 | 2,787 | 2,932 | 3,102 |
| 415 | 454 | 519 | 919 | 871 | 1,189 | 1,578 | 1,952 | 2,124 | 2,305 | 2,367 | |
| CWIP | 4 | 14 | 17 | 19 | 25 | 27 | 50 | 60 | 48 | 53 | 53 |
| Investments | 90 | 90 | 99 | 172 | 187 | 321 | 104 | 40 | 171 | 34 | 164 |
| 201 | 157 | 326 | 158 | 171 | 543 | 657 | 558 | 444 | 542 | 518 | |
| Total Assets | 710 | 715 | 961 | 1,267 | 1,255 | 2,081 | 2,389 | 2,610 | 2,787 | 2,932 | 3,102 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -45 | -13 | 28 | 167 | 115 | 240 | 414 | 422 | 462 | 429 | |
| 29 | -37 | -297 | -39 | -71 | -579 | -254 | -171 | -295 | -187 | |
| -1 | 19 | 263 | -129 | -30 | 342 | -178 | -197 | -191 | -233 | |
| Net Cash Flow | -18 | -32 | -7 | -2 | 14 | 3 | -18 | 54 | -24 | 9 |
| Free Cash Flow | -25 | -58 | -107 | 46 | 54 | -6 | 71 | 65 | 224 | 148 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 130% | 3,326% | 149% | 114% | 128% | 102% | 106% | 100% | 111% | 107% |
Ratios
Standalone / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 2 | 2 | 8 | 1 | 3 | 3 | 3 | 5 | 4 | 4 |
| Inventory Days | 18 | 35 | 30 | 37 | 50 | 43 | 43 | 36 | 33 | 34 |
| Days Payable | 115 | 135 | 108 | 106 | 170 | 144 | 107 | 102 | 101 | 105 |
| Cash Conversion Cycle | -96 | -98 | -70 | -68 | -117 | -98 | -61 | -62 | -63 | -67 |
| Working Capital Days | -63 | -64 | -132 | -57 | -93 | -62 | -51 | -36 | -37 | -37 |
| ROCE % | -6% | -5% | 0% | -3% | 6% | 10% | 7% | 5% | 3% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| KFC India Average Daily Sales (ADS) per Restaurant INR '000 |
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| KFC India Total Restaurant Count restaurants |
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| Pizza Hut India Average Daily Sales (ADS) per Restaurant INR '000 |
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| Pizza Hut India Total Restaurant Count restaurants |
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| Sri Lanka + Maldives Total Restaurant Count restaurants |
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| Sri Lanka Average Daily Sales (ADS) per Restaurant INR '000 |
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| Sri Lanka Same-Store Sales Growth (SSSG) % |
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| KFC India Same-Store Sales Growth (SSSG) % |
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| Pizza Hut India Same-Store Sales Growth (SSSG) % |
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Extracted by Screener AI
Documents
Announcements
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Sapphire Foods India Limited Has informed Regarding Approval From Competition Commission Of India
- CCI approved Sapphire Foods’ merger with Devyani International on 30 October 2026; detailed order awaited.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Sapphire Foods India Limited has informed about Transcript
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Announcement under Regulation 30 (LODR)-Investor Presentation
- Sapphire Foods India Limited has informed about Corporate Presentation
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Sapphire Foods India Limited has informed about the copy of Newspaper Publication
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Sapphire Foods India Limited has informed about Link of Recording
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from bse
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Annual Report 2023
from bse
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Annual Report 2022
from bse
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Annual Report 2022
from nse
Concalls
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Oct 2026Transcript PPT REC
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Oct 2026PPT
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT REC
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Dec 2021PPT
Largest Franchisee Operator:[1] Sapphire Foods has non-exclusive rights to operate restaurants under three of Yum’s brands: **KFC, Pizza Hut, and Taco Bell in India, Sri Lanka, and Maldives.