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Sapphire Foods India Ltd

| Audited Consolidated Financial Results for the Quarter and Year Ended March 31, 2026

Report Source

⬤28th Apr 26

Summary : Sapphire Foods reported consolidated net loss, re-appointed key directors, and plans merger with Devyani International.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Total expenses: Rs. 31,666.62 million (FY26).
  2. Standalone Total expenses: Rs. 26,907.99 million (FY26).
  3. Exceptional items recognized (Consolidated: Rs. 239.59 million, Standalone: Rs. 234.70 million for FY26).
  4. Consolidated Revenue from operations: Rs. 31,253.17 million (FY26).
  5. Standalone Revenue from operations: Rs. 26,245.42 million (FY26).
  6. Consolidated Other income: Rs. 280.44 million (FY26).
  7. Standalone Other income: Rs. 266.57 million (FY26).
  8. Consolidated Net cash from operating activities: Rs. 5,070.33 million (FY26).
  9. Standalone Net cash from operating activities: Rs. 4,290.12 million (FY26).
  10. Consolidated Net cash used in investing activities: Rs. (2,330.53) million (FY26).
  11. Standalone Net cash used in investing activities: Rs. (1,868.04) million (FY26).
  12. Consolidated Net cash used in financing activities: Rs. (2,601.13) million (FY26).
  13. Standalone Net cash used in financing activities: Rs. (2,331.68) million (FY26).
  14. Consolidated Total Assets: Rs. 32,558.92 million (FY26).
  15. Standalone Total Assets: Rs. 29,324.63 million (FY26).
  16. Consolidated Total Equity: Rs. 13,885.54 million (FY26).
  17. Standalone Total Equity: Rs. 12,303.81 million (FY26).
  18. Consolidated Non-current borrowings: Rs. 12,873.51 million (FY26).
  19. Standalone Non-current borrowings: Rs. 12,102.03 million (FY26).
  20. Both standalone and consolidated results are presented and audited.

Corporate Overview

  1. India (Registered office shifting to Haryana).
  2. Sri Lanka (Subsidiaries Gamma Pizzakraft, Gamma Island Food).
  3. Continuous losses in Gamma Island Foods Private Limited subsidiary.
  4. Impairment of goodwill for acquired KFC store closure.
  5. Regulatory approvals for proposed merger.
  6. Operating restaurants, single reportable segment.
  7. Formal and procedural in board report.
  8. Positive and grateful in resignation letter.
  9. Single reportable operating segment (restaurants).
  10. Proposed amalgamation with Devyani International Limited.

Risk Factors

  1. Continuous losses in Gamma Island Foods subsidiary.
  2. Goodwill impairment from closed KFC store.
  3. Uncertain impact of new labor codes.
  4. Regulatory approvals needed for proposed amalgamation.

Key Drivers

  1. Proposed merger with Devyani International Limited.
  2. Key directors and CEO re-appointed.
  3. Unmodified audit opinion on financial results.
  4. Restructuring employee compensation for new labor codes.

Auditor’s Report

  1. Unmodified opinion on standalone and consolidated financial results.

Board Commentary

  1. Resignation of Mr. Amar Patel (EVP & CTO).
  2. Re-appointment of Mr. Sanjay Purohit (Group CEO).
  3. Re-appointment of Mr. Sunil Chandiramani (Chairman & ID).
  4. Re-appointment of Ms. Deepa Wadhwa (ID).
  5. Re-appointment of Ms. Anu Aggarwal (ID).
  6. Continuation of Mr. Sumeet Narang (Non-Executive Nominee Director).
  7. Continuous losses in Gamma Island Foods Private Limited.
  8. Impairment of Goodwill for acquired KFC store.
  9. New Labour Codes impact on employee benefits.
  10. Scheme of arrangement for amalgamation with Devyani International Limited.

Corporate Governance

  1. Re-appointment of three Independent Directors for second term.
  2. Audit Committee and Nomination and Remuneration Committee mentioned.

Management Discussion & Analysis

Future Strategy

  1. Amalgamation with Devyani International Limited.
  2. Shifting registered office from Maharashtra to Haryana.
  3. Restructuring employee compensation for new labor codes.

Operational Focus Areas

  1. Ensuring smooth transition for resigning CTO.
  2. Monitoring new labor code developments.

Risk Control Measures

  1. Monitoring regulatory developments for new labor codes.

Critical Risks

  1. Impact of new Labour Codes on employee benefits.
  2. Continuous losses in subsidiary Gamma Island Foods.
  3. Goodwill impairment from closed KFC store.
  4. Regulatory approvals for proposed merger.
Sapphire Foods India Ltd (SAPPHIRE) Quarterly Report Analysis & Insights | Dhanarthi