Sapphire Foods India Ltd logo

Sapphire Foods India Ltd

SAPPHIRE NSE

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]

AI Verdict: HOLD Confidence: 4%

Sapphire Foods has strong analyst support with 72.7% buy ratings and decent 5-year sales CAGR of 25%, but the negative PE of -178.1, recent profit decline of -152% TTM, and 44% stock price erosion over the past year signal significant near-term headwinds. The risk-reward is not compelling enough for a fresh entry at 4.08x book value given deteriorating profitability.

Key Fundamentals

MicrocapQuick Service RestaurantLeisure Services
Market Cap
₹5,913 Cr
Volatility
Moderate
P/E Ratio
-187.6
EBITDA
₹450 Cr
Return on Equity
3.88%
Debt to Equity
0.9
Book Value
₹43.27
EPS
₹5.71
52W High
₹368
52W Low
₹139.91

Technical Indicators

Key Insights

Weaknesses

5
  • Stock is trading at 4.29 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding is low: 26.1%
  • Company has a low return on equity of 1.64% over last 3 years.
  • Promoter holding has decreased over last 3 years: -18.8%

Growth Rate

Revenue Growth
7.06% ↗
Net Income Growth
-383.89% ↘
Cash Flow Change
13.20% ↗
ROE
-69.07% ↘
ROCE
-26.79% ↗
EBITDA Margin (Avg.)
-19.02% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 20d ago
HOLD
Risk high

Sapphire Foods has strong analyst support with 72.7% buy ratings and decent 5-year sales CAGR of 25%, but the negative PE of -178.1, recent profit decline of -152% TTM, and 44% stock price erosion over the past year signal significant near-term headwinds. The risk-reward is not compelling enough for a fresh entry at 4.08x book value given deteriorating profitability.

Bull Case 7
  • Strong analyst consensus with 72.73% buy ratings (16 out of 22 analysts recommend buy)
  • Robust 5-year compounded sales growth of 25% demonstrates strong top-line expansion capability
  • TTM revenue growth of 8% shows continued top-line momentum despite profitability challenges
  • 3-year compounded sales CAGR of 11% indicates sustained demand for QSR brands (KFC, Pizza Hut, Taco Bell)
  • 5-year compounded profit growth of 13% suggests long-term earnings trajectory remains positive despite recent setback
  • Market cap of Rs 5,829 Cr provides reasonable scale for institutional investor participation and liquidity
  • Only 13.64% of analysts (3 out of 22) recommend selling, indicating limited bearish institutional sentiment
Bear Case 8
  • Negative PE ratio of -178.1 indicates the company is currently loss-making at the net profit level
  • TTM compounded profit growth of -152% reflects severe earnings deterioration in the most recent period
  • Stock price has declined 44% over the past 1 year, destroying significant shareholder value
  • 3-year stock CAGR of -15% shows sustained underperformance and lack of re-rating catalyst
  • Promoter holding has decreased by 18.8% over 3 years, signaling potential lack of promoter confidence
  • Low promoter holding of just 26.1% raises corporate governance and alignment concerns
  • Trading at 4.08x book value is expensive for a company with 3-year ROE of only 1.64%
  • Zero dividend yield with low interest coverage ratio indicates financial stress and no shareholder returns

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 20d ago
Headwinds 1
  • ₹977 Cr GST demand notice May 27

    Tamil Nadu authorities issued a show cause notice demanding ₹977.06 million for alleged excess input tax credit. Company denies the claim and states no material financial impact.

Neutral 2
  • Senior management rejig May 29

    CEO-KFC Business Deepak Taluja resigns effective July 24, 2026. Vikrant Vohra succeeds him; Saurabh Girdhar appointed AVP and COO-Pizza Hut.

  • ₹17.76 Cr NSE block trade May 18

    Approximately 1,008,468 shares traded in a block deal at ₹176.11 per share on NSE, totalling ₹17.76 crores, indicating institutional-level activity.

TL;DR: Sapphire Foods faces a notable GST demand of ₹977 Cr from Tamil Nadu, though management maintains it has no material impact. Leadership transition at the KFC business signals organizational restructuring rather than instability. Institutional block trade activity suggests continued secondary market interest. Key risk to watch is the GST dispute outcome, while operational continuity through the management change will be important for near-term sentiment.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
560
654
643
666
632
718
696
757
711
777
742
814
792
Expenses
462
533
528
544
529
594
584
622
605
664
640
680
668
Operating Profit
98
121
115
122
103
124
112
134
106
113
102
134
124
OPM %
18%
19%
18%
18%
16%
17%
16%
18%
15%
15%
14%
16%
16%
Other Income
11
8
8
6
12
5
-3
10
9
7
9
-4
-8
Interest
25
23
24
26
28
27
27
28
30
30
31
32
31
Depreciation
72
73
77
87
87
90
88
100
85
92
97
102
101
PBT
12
34
21
14
1
12
-6
17
1
-2
-17
-3
-15
Tax %
-1002%
26%
29%
30%
-143%
31%
2%
24%
-237%
-6%
-23%
43%
-18%
Net Profit
135
25
15
10
2
8
-6
13
2
-2
-13
-5
-13
EPS in Rs
4.27
0.78
0.48
0.32
0.08
0.27
-0.1
0.37
0.06
-0.06
-0.4
-0.15
-0.39
Figures in ₹ Crores

Profit & Loss

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
957
1,194
1,340
1,020
1,722
2,266
2,594
2,882
3,125
Expenses
942
1,155
1,155
894
1,417
1,836
2,132
2,405
2,652
Operating Profit
15
39
186
125
305
430
462
477
474
OPM %
2%
3%
14%
12%
18%
19%
18%
17%
15%
Other Income
2
9
-83
61
38
30
33
22
4
Interest
2
18
72
76
78
87
101
112
123
Depreciation
55
74
191
209
214
264
324
364
392
PBT
-40
-44
-161
-99
51
108
70
23
-37
Tax %
3%
3%
-1%
1%
11%
-115%
26%
28%
-14%
Net Profit
-41
-45
-159
-100
46
233
52
17
-32
EPS in Rs
-1.97
-2.07
-6.27
-3.73
1.46
7.35
1.66
0.6
-0.99
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
Figures in ₹ Crores

Balance Sheet

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
42
43
50
53
64
64
64
64
64
Reserves
436
429
474
427
944
1,192
1,275
1,334
1,326
Borrowings
31
96
646
645
789
963
1,164
1,292
1,417
Other Liabilities
326
527
214
225
368
372
334
350
448
Total Liabilities
834
1,095
1,384
1,349
2,165
2,591
2,837
3,040
3,256
Fixed Assets
628
719
1,161
1,084
1,390
1,789
2,178
2,338
2,570
CWIP
16
21
21
30
33
56
68
57
60
Investments
0
0
16
27
153
66
0
144
3
Other Assets
190
355
186
208
590
679
591
501
623
Total Assets
834
1,095
1,384
1,349
2,165
2,591
2,837
3,040
3,256
Figures in ₹ Crores

Cash Flow

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
3
47
213
154
395
382
449
508
507
Investing
-54
-335
-2
-78
-692
-204
-187
-337
-233
Financing
19
281
-208
-52
313
-195
-212
-211
-260
Net Cash Flow
-32
-7
3
25
16
-17
49
-39
14
Free Cash Flow
-101
-128
72
81
110
-1
64
245
189
CFO/OP
38
130
116
125
132
89
98
107
108
Figures in ₹ Crores

Ratios

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
2
7
1
3
3
3
5
5
4
Inventory Days
39
35
40
56
46
49
44
39
41
Days Payable
128
106
110
170
138
107
104
98
104
Cash Conversion Cycle
-87
-63
-69
-110
-89
-55
-55
-54
-59
Working Capital Days
-101
-139
-42
-87
-56
-53
-35
-33
-31
ROCE %
—
-5%
1%
-2%
9%
10%
7%
6%
4%

Shareholding Pattern

As of Mar 2026
DIIs 37.49%
FIIs 28.98%
Promoters 26.07%
Public 4.66%
Others 2.79%
Total 99.99%
  Nov 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
51.26%
51.26%
51.26%
51.26%
51.26%
44.90%
44.90%
44.86%
41.68%
31.30%
30.84%
30.82%
26.20%
26.13%
26.08%
26.07%
26.07%
26.07%
26.07%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
23.65%
0.00%
29.95%
31.52%
31.46%
30.67%
30.42%
31.55%
31.31%
29.22%
28.98%
DIIs
4.37%
5.92%
7.64%
9.70%
15.62%
24.95%
27.44%
29.61%
28.04%
30.15%
32.38%
31.45%
37.11%
38.32%
38.51%
37.86%
37.25%
37.55%
37.49%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
8.41%
6.03%
5.74%
5.85%
4.52%
4.68%
4.57%
4.17%
4.04%
4.37%
4.26%
3.81%
3.44%
3.58%
3.68%
3.22%
3.76%
4.77%
4.66%
Others
35.96%
36.79%
35.36%
33.19%
28.60%
25.47%
23.09%
21.36%
2.59%
34.17%
2.56%
2.39%
1.79%
1.31%
1.31%
1.30%
1.61%
2.39%
2.79%
No. of Shareholders
0
1,48,576
92,119
65,790
66,462
62,293
60,178
55,531
53,845
51,840
53,150
51,602
54,062
54,905
54,414
51,421
52,417
53,545
56,668

Documents

Frequently Asked Questions about Sapphire Foods India Ltd

What does Sapphire Foods India Ltd do?
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]
Where is Sapphire Foods India Ltd (SAPPHIRE) listed?
Sapphire Foods India Ltd is listed on the Indian stock exchanges. It is listed on NSE: SAPPHIRE and BSE: 543397. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Sapphire Foods India Ltd belong to?
Sapphire Foods India Ltd operates in the Consumer Discretionary sector within the Leisure Services industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Sapphire Foods India Ltd?
Sapphire Foods India Ltd has a market capitalisation of approximately ₹5913.45 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Sapphire Foods India Ltd?
The Price-to-Earnings (PE) ratio of Sapphire Foods India Ltd is -187.60. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Sapphire Foods India Ltd?
Over the past 52 weeks, Sapphire Foods India Ltd has traded between a low of ₹139.91 and a high of ₹368. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Sapphire Foods India Ltd?
Sapphire Foods India Ltd has a Return on Equity (ROE) of 3.88%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Sapphire Foods India Ltd on Tapetide?
On Tapetide, you can view Sapphire Foods India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website sapphirefoods.in
Listed 2021-11-18
Face Value ₹ 2
Issued Size 32,13,82,905

Explore More

More in Consumer Discretionary → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List