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KFC operator Devyani International profit slumps on expenses, weak currency  India's Devyani International reported an 84% slump in its quarterly profit on Friday as the domestic operator of Pizza Hut and KFC restaurants was swamped by higher expenses and tepid currency in key market Nigeria. Consolidated net profit fell to 117.6 million rupees ($1.42 million) for the first quarter ended June 30, from 738.5 million rupees in the year-ago period, according to an exchange filing. Devyani said it took a one-off hit of 473.3 million rupees during the repor...
KFC operator Devyani International profit slumps on expenses, weak currency
KFC operator Devyani International profit slumps on expenses, weak currency
Source: Reuters
4/08/2023 2:55:21 PM
Buy Sapphire Foods India Ltd For Target Rs.1,542 - Centrum Broking Ltd Sapphire Foods’ Q1 print was below our estimates; consol. revenue/EBITDA grew at 19.8%/9.0%, while PAT declined 34.8%. KFC/PH India revenue grew at 21%/12% with flat SSSG in KFC, yet declined 9% for PH. However high inflation and direct taxes, SriLanka revenues grew 27% with flat SSSG. In Q1 SF added 17/16 stores under KFC/PH format (total stores count KFC/PH/Sri Lanka at 358/302/118). Despite higher inflation in dairy SF’s gross margin inched up to 68.5% (+60bp), with KFC at 68.1...
Buy Sapphire Foods India Ltd For Target Rs.1,542 - Centrum Broking Ltd
Buy Sapphire Foods India Ltd For Target Rs.1,542 - Centrum Broking Ltd
Source: Centrum Broking Ltd
4/08/2023 10:07:43 AM
The world`s cheapest Domino`s pizza is in inflation-hit India. It costs $0.60 Q: How does the world's biggest pizza brand respond to high inflation in the world's most populous nation? A: With the world's cheapest Domino's pizza. The 49-rupee ($0.60) pizza in India, Domino's No.1 market outside America, is the tip of the spear in its fight against rampant inflation that's squeezing profits and pricing out many customers, according to the CEO of its franchisee there. The company wants to "own that price point", said Sameer Khetarp...
The world`s cheapest Domino`s pizza is in inflation-hit India. It costs $0.60
The world`s cheapest Domino`s pizza is in inflation-hit India. It costs $0.60
Source: Reuters
20/07/2023 9:39:52 AM
Buy Sapphire Foods India Ltd For Target Rs.1,585 - JM Financial * SAPPHIRE’s revenue grew 13% YoY (7% miss), led by both KFC and Pizza hut formats. However, revenue in Sri Lanka declined due to the depreciation of LKR. EBITDA declined 2% YoY (8% miss), owing to low SSG, and therefore, negative operating leverage. 2HFY23 for PH was weak. * The company’s SSSG was weak, with KFC experiencing a growth of 2% and PH declining by 4%, due to the challenging business environment (v/s est. 1% in KFC/ a decline of 6% for PH). As a result of cooling of...
Buy Sapphire Foods India Ltd For Target Rs.1,585 - JM Financial
Buy Sapphire Foods India Ltd For Target Rs.1,585 - JM Financial
Source: Motilal Oswal Financial Services Ltd
15/05/2023 3:33:35 PM
KFC operator Sapphire Foods India's Q4 profit halves on higher costs Sapphire Foods India, the operator of KFC and Pizza Hut restaurants, reported a 57% decline in fourth-quarter earnings on Friday, on higher expenses and stiff competition at a time when people also cut back on discretionary spending. The company's profit before tax fell to 122.8 million Indian rupees ($1.50 million) in the quarter ended March 31 from 285.9 million rupees a year earlier, the U.S.-based Yum Brands' franchisee said in an exchange filing. Consumers in the world'...
KFC operator Sapphire Foods India's Q4 profit halves on higher costs
KFC operator Sapphire Foods India's Q4 profit halves on higher costs
Source: Reuters
12/05/2023 3:30:21 PM
Buy Sapphire Foods India Ltd For Target Rs.1,545 - JM Financial Sapphire Foods’ stock price has corrected by c.22% in the past 6 months, triggered by the subdued demand environment in the QSR segment, especially the post-festive period, due to inflationary pressures weighing on footfalls. The impact was more pronounced in Pizza Hut (PH)-India (c.22-23% of sales) and was seen across peers in the pizza category. On the other hand, the KFC business (c.64% of sales) has been relatively resilient, which is a key positive and reflective of its superior br...
Buy Sapphire Foods India Ltd For Target Rs.1,545 - JM Financial
Buy Sapphire Foods India Ltd For Target Rs.1,545 - JM Financial
Source: JM Financial
31/03/2023 2:03:14 PM
Buy Kirloskar Ferrous Industries Ltd For Target Rs.500 - JM Financial Institutional Securities We recently hosted the management of Kirloskar Ferrous (KFIL), represented by Mr R.V.Gumaste (Managing Director) and Mr. Srivatsan R.S (CFO). The company provided insights on its capacity expansion plans which include expansion of pig iron capacity from 0.6 mn tons to 0.8 mn tons on the back of a) upgradation of MBFII – completed in 2QFY23 b) Hiryur BF upgradation – interactions on going with MECON c) PCI and Oxygen enrichment – commissioning expected by 3QFY24. The casting ...
Buy Kirloskar Ferrous Industries Ltd For Target Rs.500 - JM Financial Institutional Securities
Buy Kirloskar Ferrous Industries Ltd For Target Rs.500 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
16/03/2023 2:50:53 PM
Buy Sapphire Foods India Ltd For Target Rs. 1,610 - JM Financial Institutional Securities ADS performance muted, margin delivery surprises positively led by KFC Sapphire Foods 3QFY23 earnings print was inline on the revenue front, primarily led by higher store additions as ADS was below expectations. Despite that EBITDA performance surprised positively, led by better margins, which is also a function of relatively higher salience of KFC business (which has superior margins) vs others in the quarter. ADS saw moderation across businesses, especially in PH & management attribu...
Buy Sapphire Foods India Ltd For Target Rs. 1,610 - JM Financial Institutional Securities
Buy Sapphire Foods India Ltd For Target Rs. 1,610 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
14/03/2023 12:31:52 PM
Bay Sapphire Foods india Ltd For Target Price Rs 1,650 - Emkay Global Financial Services Ltd. Sapphire’s Q2 EBITDA was 3-7% lower than our estimates, owing to lower KFC margins. While KFC SSG at 15% was similar to DIL’s at 13%, the PH SSG was relatively better at 23% vs. 3% for DIL. In our view, a higher dine-in focused store mix led to a better SSG performance for Sapphire. Store additions remained robust, with net adds of 42/79 stores in Q2/H1FY23, and Sapphire retained its outlook of doubling the no. of stores over the next 3-4 years. KFC’ gross-margin decline of ...
Bay Sapphire Foods india Ltd For Target Price Rs 1,650 - Emkay Global Financial Services Ltd.
Bay Sapphire Foods india Ltd For Target Price Rs 1,650 - Emkay Global Financial Services Ltd.
Source: Emkay Global Financial Services Ltd.
4/11/2022 3:25:52 PM
Buy Sapphire Foods India Ltd For Target Rs.1700 - ICICI Securities 1QFY23 print was in line with our expectation, both on top line and margins. Growth focus protected operating margin prints despite the gross margin pressure (inflation plus mix-led). Store addition (of 37 restaurants) was in line with the medium-term aspiration (double footprint in next 3-4 years). Healthy dine-in recovery in KFC and continued ADS recovery in PH were pleasing. Sri Lanka print is also trending in line with our full-year estimate (low downside risk, for now). Despite good c...
Buy Sapphire Foods India Ltd For Target Rs.1700 - ICICI Securities
Buy Sapphire Foods India Ltd For Target Rs.1700 - ICICI Securities
Source: ICICI Securities
5/10/2022 3:16:14 PM
Buy Sapphire Foods India Ltd For Target Rs.1,500 - JM Financial Institutional Securities Ltd India business drives overall profitability Sapphire Foods 1QFY23 earnings print points to healthy start to FY23 as operating performance surprised positively despite inflationary pressures and sharp deterioration in Sri Lanka business performance (due to challenging macro-economic scenario). Key positives from India business were – a) continued strength in KFC business (recovery in dine-in sales and delivery sales holding up well) and b) strong restaurant operating profitability for...
Buy Sapphire Foods India Ltd For Target Rs.1,500 - JM Financial Institutional Securities Ltd
Buy Sapphire Foods India Ltd For Target Rs.1,500 - JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities Ltd
15/08/2022 10:36:45 AM
Buy Sapphire Foods India Ltd For The Target Rs.1,650 - Emkay Global Financial Services Strong execution under tough circumstances; Maintain Buy * Sapphire’s Q1 EBITDA beat our estimate by 17-21%, led by better revenue and margins across formats. Q1 revenues grew ~80%, on healthy 35% store growth, price hikes and a low base. KFC/PH/SL brand margins were ~180/180/800bps higher than estimates. * KFC performance was strong, with flat ADS vs. a seasonally-strong Q3FY22. Price hikes of ~10% in KFC likely helped to offset the seasonal decline in ADS. A successful traction ...
Buy Sapphire Foods India Ltd For The Target Rs.1,650 - Emkay Global Financial Services
Buy Sapphire Foods India Ltd For The Target Rs.1,650 - Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
13/08/2022 12:08:33 PM
Buy Sapphire Foods India Ltd For The Target Rs.1,500 By Emkay Global Financial Services Tasty Pizza-KFC combo available at appetising valuations Sapphire Foods (Sapphire) operates ~37% of Yum Brands’ KFC/Pizza Hut (PH) stores in India and 100% of PH stores in Sri Lanka (SL). India has a lower: (1) QSR penetration at ~8% in Food Services vs. 20-40% in US/China/Brazil; and (2) per capita consumption [PCC] of chicken at ~3kg p.a. vs. global avg. of 17kg. Thus, we expect continuation of a mid-teen revenue CAGR for the Indian QSR industry over next 10-15 years. Sapphire has ...
Buy Sapphire Foods India Ltd For The Target Rs.1,500 By Emkay Global Financial Services
Buy Sapphire Foods India Ltd For The Target Rs.1,500 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
19/07/2022 11:11:01 AM
Buy Sapphire Foods India Ltd For Target Rs.1,420 - Motilal Oswal SAPPHIRE is one of the two franchisees of Yum! Brands (Yum) in India. Yum operates brands such as KFC, Pizza Hut (PH) and Taco Bell. It has a global presence with more than 53,000 Restaurants in over 150 countries. SAPPHIRE develops and operates KFC/PH stores in 10/11 Indian states. It also has an international presence in Sri Lanka and Maldives. Set up in Sep’15 with the acquisition of 250 KFC and PH stores in India and Sri Lanka, it is promoted by a group of leading Private Equity fir...
Buy Sapphire Foods India Ltd For Target Rs.1,420 - Motilal Oswal
Buy Sapphire Foods India Ltd For Target Rs.1,420 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
25/05/2022 10:58:51 AM
Buy Sapphire Foods India Ltd For Target Rs.1700 - ICICI Securities On track despite (some) Sri Lanka (likely) woes 4QFY22 – India: Decent revenue print (some weakness in Pizza Hut though due to operating restrictions). Growth focus protected operating margin prints despite the gross margin pressure (price hike taken in April). On Pizza Hut Sri Lanka (SL) (concerns around which have been a headwind for the stock), the situation is not ‘very bad’ (as per management) – (1) While store operations are disrupted by 2-3 hours each day,...
Buy Sapphire Foods India Ltd For Target Rs.1700 - ICICI Securities
Buy Sapphire Foods India Ltd For Target Rs.1700 - ICICI Securities
Source: ICICI Securities Ltd
19/05/2022 12:11:00 PM
Sapphire Foods listing view By Mr. Santosh Meena, Swastika Investmart Ltd Below is quote on Sapphire Foods listing view by Mr. Santosh Meena, Head of Research, Swastika Investmart Ltd Sapphire was listed with moderate gain in line with our expectations. Sapphire food is a loss-making company however we have seen successful companies in the market from similar spaces. If we talk about the valuations then it is coming out with 7XFY21 sales while recently listed devyani international is trading at 14XFY21 therefore it is coming out with attractive va...
Sapphire Foods listing view By Mr. Santosh Meena, Swastika Investmart Ltd
Sapphire Foods listing view By Mr. Santosh Meena, Swastika Investmart Ltd
Source: Swastika Investmart Ltd
18/11/2021 11:53:34 AM
Sapphire Foods India Ltd. debuts with 11.10% premium at Rs 1,311.00 Sapphire Foods India Ltd. makes a strong debut on the bourses with scrip got listed at Rs 1,311.00 on the Bombay Stock Exchange, a 11.10 per cent premium to its issue price of Rs 1,180.00. On the National Stock Exchange, the stock was listed at Rs 1,350.00. The company, which raised 1.76 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 175.70 lakhs shares. The company, listed under B Group Securities post its IPO, op...
Sapphire Foods India Ltd. debuts with 11.10% premium at Rs 1,311.00
Sapphire Foods India Ltd. debuts with 11.10% premium at Rs 1,311.00
Source: Dion Global Solutions Ltd
18/11/2021 10:52:31 AM
IPO Review - Sapphire Foods India Ltd By ICICI Direct Established QSR franchisee with substantial presence About the company: Sapphire Foods, set up in 2015, is one of the Yum brand’s restaurant operators in the Indian subcontinent. It is also Sri Lanka’s largest quick service restaurant (QSR) chain as per FY21 revenues. The company operates 482 stores with 219 KFC & 188 Pizza Hut stores in India. It has another 73 stores in Sri Lanka and two in Maldives. * The company operates KFC & Pizza Hut brands in India, Sri ...
IPO Review - Sapphire Foods India Ltd By ICICI Direct
IPO Review - Sapphire Foods India Ltd By ICICI Direct
Source: ICICI Direct
9/11/2021 5:04:35 PM
IPO Note - Sapphire Foods Ltd By Nirmal Bang BACKGROUND Company Overview Sapphire Foods Ltd. (SFL) is one of YUM’s franchisee operators in the Indian subcontinent operating brands like KFC, Pizza Hut etc. It is also Sri Lanka’s largest international QSR chain, in terms of revenue for the FY21 and number of restaurants operated as of March 31, 2021 (with 68 restaurants representing 39% of the total number of outlets in the market). SFL also established a presence in the Maldives. As of June 30, 2021, it owned and operat...
IPO Note - Sapphire Foods Ltd By Nirmal Bang
IPO Note - Sapphire Foods Ltd By Nirmal Bang
Source: Nirmal Bang Ltd
9/11/2021 11:37:11 AM
IPO Note - Sapphire Foods India Limited By Angel One Sapphire Foods India Limited (SFIL) was incorporated on November 10, 2009. Sapphire Foods is YUM’s largest franchisee operator in the Indian subcontinent with revenue from operations of ₹1,340 crore and ₹1,020 crore for the financial years 2020 and 2021, respectively. Company’s association with Yum started in 2015 and they presently have the non-exclusive rights to operate restaurants under 3 of YUM’s leading brands, namely, the KFC, Pizza Hut and Taco Bell brands in the Ter...
IPO Note - Sapphire Foods India Limited By Angel One
IPO Note - Sapphire Foods India Limited By Angel One
Source: Angel One Ltd
8/11/2021 12:08:26 PM
Quote on Sapphire Foods India - IPO By Mr. Amarjeet Maurya, Angel One Ltd Below is quote on Sapphire Foods India - IPO By Mr. Amarjeet Maurya - AVP - Mid Caps, Angel One Ltd Sapphire Foods India is YUM brand's largest franchise operator in the Indian subcontinent in terms of revenue as of FY20. It is also Sri Lanka's largest international QSR chain in terms of revenue for FY21 and the number of restaurants operated as of March 31, 2021. As of June 31, 2021, they owned and operated 209 KFC restaurants in India and the Maldive...
Quote on Sapphire Foods India - IPO By Mr. Amarjeet Maurya, Angel One Ltd
Quote on Sapphire Foods India - IPO By Mr. Amarjeet Maurya, Angel One Ltd
Source: Angel One Ltd
4/11/2021 9:49:44 AM