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 ₹ 10,189 Cr.
- Current Price ₹ 317
- High / Low ₹ 401 / 242
- Stock P/E 586
- Book Value ₹ 43.5
- Dividend Yield 0.00 %
- ROCE 5.76 %
- ROE 1.85 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 7.28 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 8.23% 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | TTM | |
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957 | 1,194 | 1,340 | 1,020 | 1,722 | 2,266 | 2,594 | 2,882 | 2,940 | |
942 | 1,155 | 1,155 | 894 | 1,417 | 1,836 | 2,132 | 2,405 | 2,475 | |
Operating Profit | 15 | 39 | 186 | 125 | 305 | 430 | 462 | 477 | 465 |
OPM % | 2% | 3% | 14% | 12% | 18% | 19% | 18% | 17% | 16% |
2 | 9 | -83 | 61 | 38 | 30 | 33 | 22 | 23 | |
Interest | 2 | 18 | 72 | 76 | 78 | 87 | 101 | 112 | 114 |
Depreciation | 55 | 74 | 191 | 209 | 214 | 264 | 324 | 364 | 366 |
Profit before tax | -40 | -44 | -161 | -99 | 51 | 108 | 70 | 23 | 9 |
Tax % | 3% | 3% | -1% | 1% | 11% | -115% | 26% | 28% | |
-41 | -45 | -159 | -100 | 46 | 233 | 52 | 17 | 7 | |
EPS in Rs | -1.97 | -2.07 | -6.27 | -3.73 | 1.46 | 7.35 | 1.66 | 0.60 | 0.27 |
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: | -18% |
TTM: | -51% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 7% |
1 Year: | -3% |
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 | 350 | |
Total Liabilities | 834 | 1,095 | 1,384 | 1,349 | 2,165 | 2,591 | 2,837 | 3,040 |
628 | 719 | 1,161 | 1,084 | 1,390 | 1,789 | 2,178 | 2,338 | |
CWIP | 16 | 21 | 21 | 30 | 33 | 56 | 68 | 57 |
Investments | 0 | 0 | 16 | 27 | 153 | 66 | 0 | 144 |
190 | 355 | 186 | 208 | 590 | 679 | 591 | 501 | |
Total Assets | 834 | 1,095 | 1,384 | 1,349 | 2,165 | 2,591 | 2,837 | 3,040 |
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 | -213 | -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 | 39 |
Days Payable | 128 | 106 | 110 | 170 | 138 | 107 | 104 | 98 |
Cash Conversion Cycle | -87 | -63 | -69 | -110 | -89 | -55 | -55 | -54 |
Working Capital Days | -101 | -139 | -42 | -87 | -56 | -53 | -35 | -33 |
ROCE % | -5% | 1% | -2% | 9% | 10% | 7% | 6% |
Documents
Announcements
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Clarification With Respect To The Notice Of 16Th AGM Dated 28Th May 2025
1 Aug - Clarification on ED & CFO Vijay Jain's appointment, remuneration, and ESOP allocation terms.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
30 Jul - Q1 FY26: Rs.775 Cr revenue (+8%), EBITDA down 13%, flat KFC SSSG, Pizza Hut SSSG -8%, strategic initiatives ongoing.
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Announcement under Regulation 30 (LODR)-Investor Presentation
25 Jul - Sapphire Foods India Limited has informed about Corporate Presentation
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Clarification With Respect To The Notice Of 16Th Annual General Meeting ('AGM') Dated 28Th May 2025 Of Sapphire Foods India Limited ('Company' / 'Sapphire Foods')
25 Jul - Clarification on re-appointment of Mr. Vinod Nambiar as Non-Executive Nominee Director at AGM.
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Sapphire Foods India Limited Has informed About Action(S) Taken Or Orders Passed
24 Jul - Received INR 51 million GST show cause notice for FY 2021-22; company denies material impact.
Annual reports
Concalls
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Jul 2025Transcript PPT
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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]