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Sapphire Foods India Results: Latest Quarterly Results & Analysis

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Sapphire Foods India Ltd. 17 Oct 2025 14:46 PM
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Q2FY26 Quarterly Result Announced for Sapphire Foods India Ltd.

Restaurants company Sapphire Foods India announced Q2FY26 results

  • Revenue of Rs 7,401 million compared to Rs 6,940 million during Q2FY25, change 7% growth YoY.
  • EBITDA was Rs 450 million, declined 24% YoY (this also has Navratri impact).
  • EBITDA Margin of 6.1%. Consol EBITDA (Rs 1,062 million, 14.3%) declined 8% YoY (down by 230 bps).
  • Consol PAT (Rs -128 million, -1.7%) | Consol Adj. PAT (Rs -36 million, -0.5%).

Result PDF

Result PDF

Restaurants company Sapphire Foods India announced Q1FY26 results

  • Sapphire Foods delivered revenue of Rs 7,748 million with 8% growth YoY.
  • In Q1FY26 we added 8 KFC restaurants, 2 Pizza Hut and 1 Pizza Hut in Sri Lanka. Sapphire Foods total restaurant count is 974 as on 30th June 2025.
  • Consol. Rest. EBITDA declined by 13% YoY, and margin was at 12.2% (down by 290 bps).
  • Adj. EBITDA was Rs 548 million, declined 22% YoY and Adj. EBITDA Margin of 7.1%. Consol EBITDA (Rs 1,134 million, 14.6%) declined 9% YoY (down by 270 bps).
  • Consol. PAT (Rs -17 million, -0.2%) | Consol Adj. PAT (Rs 58 million, 0.7%).

Result PDF

Restaurants company Sapphire Foods India announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Sapphire Foods delivered revenue of Rs 7,099 million, 13% growth led by KFC India and Pizza Hut Sri Lanka.
  • Consol Rest. EBITDA decreased by 1% YoY, and margin was at 12.0% (down by 160 bps)
  • In Q4FY25 we added 6 KFC restaurants. Sapphire Foods total restaurant count is 963 as on 31st Mar 2025.
  • Consol PAT (Rs 20 million, 0.3%) | Consol Adj. PAT (Rs 33 million, 0.5%)
  • Sapphire KFC SSSG trajectory (-1%) continued to improve vs previous 2 quarters with flat SSTG.
  • For FY25 Sapphire KFC grew by 11% (revenue of Rs 19,039) with Restaurant EBITDA of 17.3% down (240 bps) and opened 73 restaurants during the year with 502 restaurants.
  • Adj. EBITDA of Rs 508 million, 7% decline and Adj. EBITDA Margin of 7.2%. Consol EBITDA (Rs 1,133 million, 16.0%) increased YoY by 3% (down by 150 bps)

FY25 Financial Highlights:

  • In a difficult year Sapphire has delivered double digit Rest. count & Revenue growth. EBITDA grew by 4% at 17.1% and Adj. EBITDA declined by 4%.
  • We added 91 restaurants during the year. Consol PAT (Rs 167 million, 0.6%) and Consol Adj. PAT (Rs 404 million, 1.4%).
  • Sapphire KFC delivered robust performance with double digit revenue growth of 11% and Rest. EBITDA margin of 17.3%.
  • Sri Lanka business had a very strong turnaround with 14% LKR revenue growth (double digit SSSG & SSTG) & 24% in Rs terms with healthy Rest. EBITDA margin of 15.4%.

Result PDF

Restaurants company Sapphire Foods India announced Q3FY25 results

  • Sapphire Foods delivered a healthy quarter with double digit revenue growth (Rs 7550 million, 14% growth), double digit Adj. EBITDA growth (Rs 811 million, 12% growth) and double digit Adj. EBITDA Margin % (10.7%).
  • Consol Rest. EBITDA increased by 9% YoY, and margin was at 15.4% (60 bps)
  • Consol EBITDA (Rs 1,398 million, 18.5%) increased YoY by 14% (10 bps)
  • Consol PAT (Rs 127 million, 1.7%) | Consol Adj. PAT (Rs 194 million, 2.6%)
  • In Q3 FY25 we added 54 restaurants (35 KFC, 16 Pizza Hut in India & 4 Pizza Hut, 1Taco Bell in Sri Lanka, 2 closures in Maldives). Sapphire Foods total restaurant count is 963 as on 31st Dec 24.

Result PDF

Restaurants company Sapphire Foods India announced Q2FY25 results

  • Our Q2 FY25 Consolidatedidated Restaurant Sales (Rs 6,940 million) grew by 8% with EBITDA (Rs1,152 million) at 16.6%. Demand conditions continued to be muted.
  • In Q2 FY25 we added 19 KFC, 3 Pizza Hut in India & 1 Pizza Hut in Sri Lanka. Sapphire Foods total restaurant count is 909 as on 30th Sep 24.
  • Consolidated Restaurant EBITDA declined by 8% YoY, and margin was at 13.7% (down by 240 bps)
  • Consolidated EBITDA (Rs 1,152 million, 16.6%) declined YoY by 1% (down by 160 bps) | Consolidated Adj. EBITDA (Rs 590 million, 8.5%) declined YoY by 13% (down by 210 bps).
  • Consolidated PBT before exceptional items (Rs53 million, 0.8%) | Consolidated Adj. PBT before exceptional items (Rs 143 million, 2.1%).
  • Sapphire KFC grew restaurant sales by 9% YoY (SSSG -8%). Q2 is generally a soft quarter for Sapphire KFC owing to the number of vegetarian-only festival days and this year we have seen a greater impact in sales during such days. Owing to deleverage, Restaurant EBITDA came at 16.5% (down by 270 bps YoY). Our recipe for SSSG revival revolves around increasing occasions of consumption through value & product innovations (Chicken Rolls variants, Zinger Burger variants, Snackers), focus on day parts (lunch, late night, Wednesdays) and driving value across individual and group meal occasions.
  • After seeing a 17% sequential QoQ upliftment in Average Daily Sales (ADS) in Q1, Pizza Hut ADS has remained stable in Q2. Restaurant Sales increased by 3% YoY (SSSG - 3%). Our Rest. EBITDA is at 4.1% post additional marketing investments. In line with brand revival strategy, we increased marketing investments behind Melts from Apr-Sep and have now launched in October the exciting Momo Mia range of pizzas and appetizers.
  • Recovery of Sri Lanka business continues with both sales & profit improvement. Restaurant Sales grew by 10% in LKR (19% in Rs terms) while SSSG was 9% and Restaurant EBITDA margins were at 15.5% (up by 20 bps YoY).
  • Maldives business (2 KFC & Pizza Hut each, ~ 0.4% of overall revenue) has struggled for the past 1 year and sales is down by 57% YoY due to continuing geopolitical situation. This has resulted in the business incurring losses and hence as a prudent approach, we have taken an impairment (non-cash) of Rs 114 million in Q2FY25 as an exceptional item in Consolidatedidated Financials.

Result PDF

Resturants company Sapphire Foods India announced Q1FY25 results:

  • Q1 FY25 Consol Restaurant Sales (Rs 7,165 million) grew by 10% and EBITDA (Rs 1,242 million) increased by 1%. Discretionary consumer spends seem to be subdued and similar to past few quarters trend. Sapphire KFC was impacted by the shift in the dates of the Navratra Festival compared to last year, while product and marketing interventions have led to improvements in the performance of both Sapphire Pizza Hut and Sri Lanka business.
  • In Q1FY25 we added 13 KFC and 1 Pizza Hut restaurants in India. Sapphire Foods total restaurant count is 886 as on 30th Jun 24.
  • Consol Restaurant EBITDA margin was at 15.1% (down by 210 bps)
  • Consol EBITDA (Rs 1,242 million, 17.3%) grew YoY by 1% (down by 150 bps) | Consol Adj. EBITDA (Rs 707 million, 9.9%) declined YoY by 8% (down by 190 bps)
  • Consol PBT (Rs 118 million, 1.7%) | Consol Adj. PBT (Rs 239 million, 3.3%). Consol PAT was Rs 82 million (1.1%) | Consol Adj. PAT Rs 172 million (2.4%)
  • Sapphire KFC delivered Restaurant Sales of 11% YoY (-6% SSSG) and Restaurant EBITDA at 18.8% (down by 200 bps YoY).
  • Sapphire Pizza Hut has seen an uplift in performance with 17% sequential QoQ increase in ADS (Rs 48K Q1FY25 vs Rs 41K Q4FY24), ahead of the normal seasonal trend. It delivered Restaurant Sales growth of 3% YoY (-7% SSSG) and Restaurant EBITDA at 4.6% (down by 440 bps YoY) including additional marketing investments.
  • The Sri Lanka business continues to improve with a strong quarter of double digit SSSG (11%) and SSTG. Restaurant Sales grew by 13% in LKR (up by 19% in Rs terms) and Restaurant EBITDA margins were at 13.2% (up by 20 bps YoY)

Result PDF

Resturants company Sapphire Foods India announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Our Q4FY24 Consol Restaurant Sales (Rs 6,297 million) grew by 13% and EBITDA (Rs 1,102 million) grew by 7%. Demand across all consumer product categories remains constrained, as reflected in Private Final Consumption Expenditure data for previous quarters released by Government of India.
  • In Q4FY24 we added 23 KFC restaurants. Sapphire Foods total restaurant count is 872 as on 31st Mar 24.
  • Consol. Restaurant EBITDA declined by 5% YoY, and margin was at 13.6% (down by 260 bps)
  • Consol. EBITDA (Rs 1,102 million, 17.5%) grew YoY by 7% (down by 90 bps) | Consol Adj. EBITDA (Rs 544 million, 8.6%) declined YoY by 3% (down by 150 bps)
  • Consol. PBT (Rs 8 million, 0.1%) | Consol Adj. PBT (Rs 83 million, 1.3%). Consol PAT was Rs 20 million (0.3%) | Consol Adj. PAT was Rs 76 million (1.2%)
  • Sapphire KFC continues to perform well in a tough consumer demand environment. It delivered another quarter of healthy performance with restaurant sales growth of 16% YoY (-3% SSSG) and Restaurant EBITDA at 18.7% (down by 40 bps YoY).
  • For FY24, Sapphire KFC demonstrated an industry leading all-round performance with 88 new restaurant additions, Revenue growth of 18% and Restaurant EBITDA margin of 19.7% (down by 30 bps YoY, best ever annual performance).
  • Pizza Hut Restaurant Sales in Q4FY24 declined by 3% YoY and SSSG by 15% which considerably shrank Restaurant EBITDA margins. Coupled with our enhanced marketing investment, our Rest. EBITDA margin dropped to -2.7% in Q4FY24. Excluding the additional marketing spend, the brand broke even at the Restaurant EBITDA level.

FY24 Financial Highlights:

  • Sapphire has delivered the best all-round performance in the industry (all parameters considered): Revenue scale & growth [up by 15%], EBITDA margin [18.2%] & growth [up by 9%] and New restaurant additions [129].
  • Sapphire KFC highest restaurant EBITDA margin % amongst all QSR players: 19.7%
  • Sapphire KFC and Sapphire PH being recognized as among the top 3 franchisees of Yum globally on customer metrics and operating standards.
  • Sapphire Foods is ranked No.1 QSR in India and at 95th percentile amongst QSR globally on Dow Jones Sustainability Index (DJSI).

Result PDF

Restaurants company Sapphire Foods India announced Q3FY24 results:

Financial Performance:
- For Q3FY24, Sapphire Foods reported consolidated Restaurant Sales of Rs 6,643 million, marking a 12% increase from the previous year.
- The company's EBITDA for the same period was Rs 1,225 million, which is a 5% growth YoY.
- During Q3FY24, the Consolidated PBT (Profit Before Tax) was listed at Rs 140 million, a 58% decline from the previous year.
- The Consolidated PAT (Profit After Tax) stood at Rs 98 million, experiencing a significant decrease from the previous year's figure.

Brand-specific Performance:
- KFC India's robust performance was highlighted with a 16% YoY sales growth and a restaurant EBITDA margin of 20.1%.
- On the contrary, Pizza Hut India faced challenges with a 4% decline in Restaurant Sales and a significant dip in restaurant EBITDA to 4.6%.
- The Sri Lanka market showed signs of recovery with a 7% growth in Restaurant Sales in local currency.

Expansion and Growth:
- A total of 36 new restaurants were added during the quarter, taking the count to 850. Out of these, 25 were KFC, 8 Pizza Hut in India, and 3 Pizza Hut in Sri Lanka.
- KFC India is on target for doubling its restaurant count over approximately three years, using December 2021 as the base count.

Operational Highlights:
- Gross Margin percentages were reported as an improvement in both KFC India and Pizza Hut India, with Sri Lanka also showing positive margins.
- The company emphasized product innovation and value, illustrated by the introduction of new menu items across the KFC brand.
- Pizza Hut emphasized the need for revival through product innovation, enhanced marketing investments, and operational improvements.

Digital and Customer Experience:
- KFC India accentuated its focus on digital kiosks and the KFC app, with an emphasis on seamless customer experiences.
- Pizza Hut India also geared efforts toward improving its digital interface, highlighting efforts like extended delivery hours and operational excellence in online ordering.

Sustainability and Governance:
- Sapphire Foods demonstrated its commitment to sustainability and ethical business practices with a high ESG score from S&P Global, placing it first among QSR brands in India.

Result PDF

Restaurants company Sapphire Foods India announced Q1FY24 results:

  • Q1FY24 consolidated restaurant sales (Rs 6,526 million) grew by 20% despite the consumer demand headwinds. Raw Material inflation has cooled off thereby improving gross margins. In these conditions, both KFC and Pizza Hut focussed on winning consumer trust by delivering value and product innovation (e.g., KFC Snackers Rs 99/- range, Pizza Hut 10 new core pizzas) with strong advertising programs.
  • Added 35 restaurants in Q1FY24 (17 KFC, 16 Pizza Hut, 1 KFC and Pizza Hut each in Maldives) taking the total restaurant count to 778.
  • Consolidated restaurant EBITDA grew YoY in absolute terms by 12%, and the margin was 17.2% (down 130 bps).
  • Consolidated EBITDA (Rs 1,224 million, 18.8%) grew YoY by 10% (down 170 bps) and consolidated Adj. EBITDA (Rs 772 million, 11.8%) grew YoY by 7% (down 150 bps).
  • Consolidated PBT (Rs 336 million, 5.2%) declined YoY by 6% (down 140 bps).
  • Consolidated PAT was Rs 249 million (3.8%).
  • Despite flat SSSG (ADS improved over the sequential quarter), KFC delivered strong financial performance. Overall restaurant sales grew YoY by 21%. Gross margin recovery (up 130 bps over the sequential quarter) and cost controls enabled KFC to deliver one of the highest-ever Restaurant EBITDA at 20.8% (up 50 bps YoY). To bolster our menu options across day parts we launched KFC Snackers, a range of 7 products at Rs 99/- which includes Chicken Rolls, Longer Chicken Burger, Popcorn, Fries, and Beverage options.
  • Pizza Hut's overall restaurant sales grew by 12%, however, SSSG declined by 9% (SSTG was flat & ADS improved over the sequential quarter). While there was gross margin recovery (up 50 bps over sequential quarter) restaurant EBITDA dropped to 9.0% (down 580 bps YoY) because of operating deleverage. We continue to invest in the brand through higher advertising spending along with product and value innovations. Our focus on execution to deliver superior customer experience has resulted in us being recognised by YUM! as the No. 1 Franchisee globally for Guest Experience Scores.
  • Sri Lanka's overall restaurant sales grew by 9% in LKR (up 27% in Rs terms) while SSSG was flat. Consumer demand continues to be challenged due to the cumulative impact of inflation and higher direct taxes. Raw Material prices have remained largely stable over the last quarter. Restaurant EBITDA margins were at 13.0% (down 250 bps YoY) due to operating deleverage.

 

 

 

Result PDF

Restaurants company Sapphire Foods India announced Q4FY23 & FY23 results:

  • Consolidated Q4FY23:
    • Revenue (Rs 5,592 million) grew by 13%, wherein India's Revenue delivered robust growth of 23%
    • EBITDA (Rs 1,030 million, 18.4%) declined YoY by 1% (down 260 bps)
    • Adj. EBITDA (Rs 563 million, 10.1%) declined YoY by 11% (down 280 bps)
    • PAT (Rs 1,355 million, 24.2%) grew YoY by 411% (up 1880 bps)
    • Adj. PAT before Deferred Tax Credit is Rs 187 million (3.3%) in Q4FY23
  • FY23:
    • Restaurant Sales: Rs 22.6 billion
    • Adj. EBITDA: Rs 2.6 billion and margin of 11.7%
    • Adj. PAT (before DTC): Rs 1.4 billion and a margin of 6.2%
    • Highest New Restaurant Additions: 164

 

 

Result PDF

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