Sapphire Foods India Ltd.

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sapphirefoods.inBSE: 543397NSE: SAPPHIRE

Market Cap₹ 7,336 Cr.

Current Price

High / Low₹ 338 / 140

Stock P/E0.0

Book Value₹ 37

Price to Book4.11

Dividend Yield0.00 %

ROCE4.1 %

ROE-4.1 %

Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Consumer Services

Buy

Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.

Confidence

73%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 478.4% YoY, showing strong momentum
Company has delivered good sales growth of 26.7% CAGR over last 5 years
Working capital cycle has improved - days down from -5 to -29
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -327.20x)
Company has a low return on equity of -0.1% over last 3 years
Company has a low return on capital employed of 8.4%
Promoter holding has decreased over last 2 years: -4.8pp
Interest coverage is weak at 0.5x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer ServicesFMCGConsumer Food

Part ofNIFTY SMLCAP 250 NIFTY 500 NIFTY TOTAL MKT

S.No.	Name
1.	NESTLEIND	1393.10	70.49	268633.47	0.86	9586.80	1382.67	63781.80	1157.04	98.35	23.86
2.	VBL	406.00	40.56	137328.07	0.37	1525.36	15.08	8650.57	20.77	20.73	27.04
3.	BRITANNIA	5099.50	47.17	122830.79	1.77	593.38	14.08	4999.97	10.26	56.48	16.77
4.	JUBLFOOD	475.50	72.30	31375.64	0.25	100.03	6.03	2569.65	13.66	25.56	19.77
5.	HATSUN	1199.95	76.74	26728.68	0.50	60.58	—	2363.72	17.61	17.40	10.81
6.	MILKYMIST	266.05	161.26	20481.68	0.00	646.79	—	9734.46	—	13.79	14.77
7.	ZYDUSWELL	555.10	93.84	17661.10	0.22	118.90	-7.04	1437.00	67.54	4.42	16.82
8.	DEVYANI	137.20	0.00	16915.93	0.00	171.04	7576.84	15805.16	1064.74	8.98	16.09
9.	LTFOODS	453.80	24.61	15758.34	0.66	183.45	8.87	3151.83	27.92	19.77	11.26
10.	BIKAJI	571.90	55.47	14339.61	0.22	59.47	1.62	734.26	15.26	21.65	13.48
11.	MANORAMA	2092.15	53.54	13206.15	0.04	78.66	67.55	404.01	39.53	35.00	26.29
12.	SAPPHIRE	228.25	0.00	7335.56	0.00	14.02	906.79	890.96	14.69	6.08	15.69

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	565	550	572	548	617	591	638	605	660	616	680	668	756
	454	448	462	454	504	493	523	515	562	534	567	564	747
Operating Profit	111	102	110	94	114	98	115	90	98	82	112	105	9
OPM %	19.67%	18.62%	19.27%	17.16%	18.39%	16.58%	18.02%	14.83%	14.91%	13.35%	16.52%	15.68%	1.18%
	7	8	6	10	5	-8	6	9	6	9	-4	-8	5
Interest	21	23	25	26	26	26	26	28	28	29	29	29	30
Depreciation	65	69	79	79	81	79	91	75	82	86	91	90	86
Profit before Tax	33	20	13	-0	13	-15	4	-5	-5	-23	-13	-22	14
Tax %	26.32%	24.46%	26.40%	1635.71%	25.34%	-2.86%	22.60%	22.78%	25.38%	26.07%	16.23%	23.76%	10.22%
Net Profit	24	15	10	2	9	-15	3	-4	-3	-17	-11	-17	13
	3.81	0.47	0.30	0.07	0.29	-0.49	0.11	-0.11	-0.11	-0.54	-0.34	-0.52	0.40

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	960	1,104	805	1,398	1,981	2,236	2,451	2,625	2,720
	941	957	715	1,161	1,590	1,818	2,035	2,227	2,412
Operating Profit	19	146	90	238	391	418	416	398	308
OPM %	2.02%	13.24%	11.20%	16.99%	19.72%	18.69%	16.98%	15.16%	11.33%
	9	-69	53	34	30	32	12	3	2
Interest	16	60	66	67	80	94	105	115	117
Depreciation	55	156	174	180	239	291	326	349	354
Profit before Tax	-42	-139	-97	25	101	65	-3	-63	-44
Tax %	-0.00%	-0.00%	-0.00%	0.00%	-123.91%	22.33%	-126.85%	23.16%	27.16%
Net Profit	-42	-139	-97	25	226	51	-6	-48	-32
EPS	-9.75	-27.65	-18.70	4.12	35.21	7.97	-0.20	-1.51	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 27%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -10%
1 Year:: -33%

RETURN ON EQUITY

10 Years:: —
5 Years:: 5%
3 Years:: 0%
Last Year:: -4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	43	50	53	64	64	64	64	64
	454	493	443	972	1,065	1,128	1,155	1,108
	72	495	502	655	768	994	1,123	1,217
Trade Payables	93	102	113	166	182	189	204	232
	299	124	143	223	185	121	130	184
Total Liabilities	961	1,264	1,254	2,080	2,263	2,495	2,676	2,806
	519	919	871	1,189	1,578	1,952	2,124	2,305
Capital Work in Progress	17	16	16	27	49	60	47	52
	99	172	187	321	104	40	171	34
	26	33	33	49	74	66	67	75
	0	0	0	0	0	29	30	31
Cash & Bank	184	34	36	230	194	145	71	60
	116	91	111	265	264	204	166	251
Total Assets	961	1,264	1,254	2,080	2,263	2,495	2,676	2,806

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	29	167	116	242	418	422	462	429
Cash from Investing	-297	-39	-71	-579	-254	-171	-295	-187
Cash from Financing	263	-129	-30	342	-181	-197	-191	-233
	-7	-2	14	3	-18	54	-24	9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30.82	26.20	26.13	26.08	26.07	26.07	26.07	26.07	26.07
	31.53	31.46	30.67	30.42	31.55	31.31	29.22	28.98	25.25
	31.46	37.11	38.32	38.51	37.86	37.25	37.53	37.49	41.92
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	6.21	5.24	4.89	4.99	4.52	5.37	7.17	7.45	6.76

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Updates

2026-09-10 - Sapphire Foods India Limited has informed the Exchange regarding 'Filing of joint application with the Competition Commission of India'.

2026-08-26

Scheme of Arrangement

2026-08-26 - Sapphire Foods India Limited has informed the Exchange about Scheme of Arrangement

2026-08-26

Outcome of Board Meeting

2026-08-26 - Sapphire Foods India Limited has informed the Exchange regarding Outcome of Board Meeting held on August 26, 2026.

2026-08-14

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-14 - Sapphire Foods India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-11

Investor Presentation

2026-08-11 - Sapphire Foods India Limited has informed the Exchange about Investor Presentation

2026-07-30

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-30 - Sapphire Foods India Limited has informed the Exchange about Transcript

2026-07-25

Copy of Newspaper Publication

2026-07-25 - Sapphire Foods India Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-24 - Sapphire Foods India Limited has informed the Exchange about Link of Recording

2026-07-24

Investor Presentation

2026-07-24 - Sapphire Foods India Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for SAPPHIRE

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