Sapphire Foods India Limited’s share price is gaining attention following news of a stock split. The company, which operates KFC and Pizza Hut outlets across India, Sri Lanka, and Maldives, saw its share price rise nearly 10% in the last month. On Wednesday, the share price of Sapphire Foods India closed at ₹1557.50, marking a gain of ₹43.50 or 2.57% per share.
In a recent exchange filing, Sapphire Foods India announced that its board, in a meeting held on June 19, 2024, discussed and approved a stock split proposal. The current face value of each equity share of ₹10 will be split into 5 equity shares of ₹2 each, subject to shareholder approval at the upcoming 15th Annual General Meeting. The company will announce the dates for the AGM and the record date for the stock split in due course.
According to Sapphire Foods India’s latest presentation, as of Q4 FY24, the company operated a total of 872 restaurants, comprising 431 KFC outlets, 432 Pizza Hut outlets, and 9 Taco Bell outlets. The company reported restaurant sales of ₹2588 crore for FY24, with Q4 FY24 sales amounting to ₹630 crore. The earnings before interest, tax, depreciation, and amortization (EBITDA) for Q4 FY24 stood at ₹103 crore, while FY24 EBITDA reached ₹472 crore with an EBITDA margin of 19.2%.
The market’s focus remains on Sapphire Foods India Limited amidst these developments and its strategic initiatives within the food services sector.
