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 ₹ 10,300 Cr.
- Current Price ₹ 320
- High / Low ₹ 401 / 242
- Stock P/E 371
- Book Value ₹ 43.5
- Dividend Yield 0.00 %
- ROCE 5.78 %
- ROE 2.03 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 7.36 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.
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 | |
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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: | 18% |
1 Year: | 6% |
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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Investor Presentation
9 Jun - Sapphire Foods India Limited has informed exchange about Revised Corporate Presentation
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
6 Jun - Scheduled analyst and investor meetings on June 13 and 20; presentation uploaded online.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Jun - Sapphire Foods schedules analyst and investor meetings on June 5, 10, and 12, 2025.
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Announcement under Regulation 30 (LODR)-Change in Directorate
28 May - Resignation of Non-Executive Director; CFO Vijay Jain appointed Executive Director and CFO from May 28, 2025.
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Board Meeting Outcome for Outcome Of Board Meeting Held On 28Th May 2025
28 May - Resignation of Non-Executive Director Vikram Agarwal; CFO Vijay Jain appointed Executive Director, subject to shareholder approval.
Annual reports
Concalls
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Jun 2025TranscriptNotesPPT
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May 2025Transcript PPT REC
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Dec 2021TranscriptNotesPPT
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Dec 2021TranscriptNotesPPT
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]