Sapphire Foods India Ltd

Sapphire Foods India Ltd

₹ 317 -1.40%
22 May 3:11 p.m.
About

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]

Key Points

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. As of Q2FY25, company owned and operated 463 KFC restaurants in India and Maldives, 437 Pizza Hut restaurants in India, Sri Lanka, and the Maldives, and 9 Taco Bell restaurants in Sri Lanka. It is Sri Lanka’s Largest International QSR chain with 121 outlets in 52 cities. [2]

  • Market Cap 10,180 Cr.
  • Current Price 317
  • High / Low 401 / 242
  • Stock P/E 367
  • Book Value 43.5
  • Dividend Yield 0.00 %
  • ROCE 5.78 %
  • ROE 2.03 %
  • Face Value 2.00

Pros

Cons

  • Stock is trading at 7.21 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 8.29% over last 3 years.
  • Promoter holding has decreased over last 3 years: -25.2%

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
496.83 546.27 562.77 596.13 560.41 654.38 642.64 665.56 631.70 718.29 695.70 756.54 711.34
397.05 435.88 459.58 479.45 462.26 532.93 527.51 543.81 528.75 594.10 583.68 622.20 605.12
Operating Profit 99.78 110.39 103.19 116.68 98.15 121.45 115.13 121.75 102.95 124.19 112.02 134.34 106.22
OPM % 20.08% 20.21% 18.34% 19.57% 17.51% 18.56% 17.92% 18.29% 16.30% 17.29% 16.10% 17.76% 14.93%
9.78 5.90 7.14 6.67 11.39 7.50 7.51 6.02 12.42 5.26 -2.95 10.50 9.10
Interest 23.33 19.72 20.57 21.71 24.90 22.60 24.47 26.33 27.52 27.25 27.11 27.52 29.75
Depreciation 57.65 60.94 62.82 68.06 72.35 72.73 76.77 87.39 87.01 90.37 88.08 100.50 84.97
Profit before tax 28.58 35.63 26.94 33.58 12.29 33.62 21.40 14.05 0.84 11.83 -6.12 16.82 0.60
Tax % 7.31% -7.04% 0.26% 2.62% -1,002.44% 26.03% 28.93% 29.96% -142.86% 30.85% 1.80% 24.32% -236.67%
26.49 38.15 26.87 32.69 135.48 24.87 15.22 9.83 2.04 8.19 -6.24 12.73 2.02
EPS in Rs 0.83 1.20 0.85 1.03 4.27 0.78 0.48 0.32 0.08 0.27 -0.10 0.37 0.06
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
957 1,194 1,340 1,020 1,722 2,266 2,594 2,882
942 1,155 1,155 894 1,417 1,836 2,132 2,405
Operating Profit 15 39 186 125 305 430 462 477
OPM % 2% 3% 14% 12% 18% 19% 18% 17%
2 9 -83 61 38 30 33 22
Interest 2 18 72 76 78 87 101 112
Depreciation 55 74 191 209 214 264 324 364
Profit before tax -40 -44 -161 -99 51 108 70 23
Tax % 3% 3% -1% 1% 11% -115% 26% 28%
-41 -45 -159 -100 46 233 52 17
EPS in Rs -1.97 -2.07 -6.27 -3.73 1.46 7.35 1.66 0.60
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 17%
3 Years: 19%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: 19%
3 Years: -15%
TTM: -47%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 16%
1 Year: 13%
Return on Equity
10 Years: %
5 Years: 5%
3 Years: 8%
Last Year: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 42 43 50 53 64 64 64 64
Reserves 436 429 474 427 944 1,192 1,275 1,334
31 96 646 645 789 963 1,164 1,292
326 527 214 225 368 372 334 351
Total Liabilities 834 1,095 1,384 1,349 2,165 2,591 2,837 3,041
628 719 1,161 1,084 1,390 1,789 2,178 2,339
CWIP 16 21 21 30 33 56 68 56
Investments 0 0 16 27 153 66 0 144
190 355 186 208 590 679 591 502
Total Assets 834 1,095 1,384 1,349 2,165 2,591 2,837 3,041

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
3 47 213 154 395 382 449 508
-54 -335 -2 -78 -692 -204 -187 -337
19 281 -208 -52 313 -195 -212 -211
Net Cash Flow -32 -7 3 25 16 -17 49 -39

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 2 7 1 3 3 3 5 5
Inventory Days 39 35 40 56 46 49 44 38
Days Payable 128 106 110 170 138 107 104 98
Cash Conversion Cycle -87 -63 -69 -110 -89 -55 -55 -54
Working Capital Days -91 -133 -21 -49 -35 -25 -17 2
ROCE % -5% 1% -2% 9% 10% 7% 6%

Shareholding Pattern

Numbers in percentages

17 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
51.26% 51.27% 44.90% 44.90% 44.87% 41.69% 31.30% 30.84% 30.82% 26.19% 26.13% 26.09%
12.61% 12.60% 16.54% 15.50% 18.66% 23.65% 29.98% 29.95% 31.53% 31.46% 30.67% 30.42%
12.49% 16.77% 24.95% 27.45% 29.61% 28.04% 31.69% 32.39% 31.46% 37.11% 38.32% 38.51%
23.65% 19.36% 13.61% 12.16% 6.87% 6.63% 7.04% 6.82% 6.21% 5.23% 4.89% 5.00%
No. of Shareholders 66,46262,29360,17859,13655,53153,84551,84053,15051,60254,06254,90554,414

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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