Sapphire Foods India Ltd is one of the largest franchise operators of Yum! Brands in South Asia, running over 460 KFC, Pizza Hut, and Taco Bell outlets across India, Sri Lanka, and the Maldives. Incorporated in 2015 and listed on Indian stock exchanges in November 2021, the company has grown rapidly through store expansion and brand diversification. However, recent financial performance has been under pressure due to rising input costs, wage inflation, and margin compression—leading to a net loss in FY2025. Despite these near-term challenges, its strong brand partnerships and market leadership in quick-service restaurants (QSR) keep it on investors’ radar. This article provides a data-backed outlook on the Sapphire Foods share price target 2026–2030.
Sapphire Foods India Ltd: Company Overview
- Founded: 2015
- Headquarters: Mumbai, Maharashtra
- Key Brands: KFC (463 stores), Pizza Hut (437 stores), Taco Bell (9 stores) as of Q2 FY26
- Geographic Reach: India, Sri Lanka, Maldives
- Market Position: Largest Yum! Brands franchisee in South Asia; #1 international QSR chain in Sri Lanka
Sapphire Foods operates under non-exclusive master franchise agreements with Yum! Brands. Its asset-heavy model (company-owned stores) ensures control over customer experience but results in high fixed costs and capital intensity.
Sapphire Foods India Ltd: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹185.00 |
| Market Capitalization | ₹5,942.37 Cr |
| No. of Shares Outstanding | 32.14 Cr |
| 52-Week High / Low | ₹375 / ₹182 |
| P/E Ratio (TTM) | Not applicable (negative EPS) |
| P/B Ratio | 4.78 |
| EPS (TTM) | -₹0.65 |
| Book Value (TTM) | ₹38.70 |
| ROE | -0.52% |
| ROCE | 8.11% |
| Dividend Yield | 0.00% |
| Face Value | ₹2 |
| Cash | ₹70.65 Cr |
| Total Debt | ₹12.23 Cr |
| Debt-to-Equity | 0.01 |
| Sales Growth (YoY) | 9.61% |
| Profit Growth (YoY) | -112.45% (net loss of ₹21 Cr in FY25) |
| Promoter Holding | 26.07% |
Sapphire Foods India Ltd Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹195 – ₹225 |
| 2027 | ₹210 – ₹250 |
| 2028 | ₹225 – ₹280 |
| 2029 | ₹240 – ₹310 |
| 2030 | ₹255 – ₹340 |
Sapphire Foods India Ltd Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹195 | ₹225 |
Sapphire Foods reported a net loss in FY2025 due to elevated food, packaging, and labor costs, despite 9.61% sales growth. With negative EPS (-₹0.65), the P/E ratio is not meaningful. The stock trades at a P/B of 4.78x—rich for a loss-making entity—but reflects optimism around margin recovery and store-level economics. A 2026 target of ₹195–₹225 assumes gradual EBITDA margin improvement from 15% toward 17–18%.
Sapphire Foods India Ltd Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹210 | ₹250 |
The company plans to open 50–60 new stores annually, focusing on tier-2/3 cities with better unit economics. If same-store sales growth (SSSG) stabilizes and input cost inflation eases, profitability could return by H2 FY27. Assuming EPS turns positive (~₹2–₹3) and P/B moderates to 4.5x, the 2027 range of ₹210–₹250 is realistic.
Sapphire Foods India Ltd Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹225 | ₹280 |
By 2028, benefits from scale, digital ordering, and delivery optimization should support margin expansion. ROCE (8.11%) remains modest but can improve with better asset turnover. A P/B of 4.5–5.0x on the book value of ~₹45–₹50 supports the ₹225–₹280 band—if earnings normalize.
Sapphire Foods India Ltd Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹240 | ₹310 |
Long-term tailwinds include India’s rising QSR penetration (currently <1% vs 5%+ in developed markets) and urbanization. Risks include intense competition (from Domino’s, McDonald’s, and homegrown brands) and franchise dependency. Using a P/B of 5.0–5.5x on projected book value (~₹48–₹56), the 2029 target is ₹240–₹310.
Sapphire Foods India Ltd Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹255 | ₹340 |
Over a five-year horizon, Sapphire Foods’ value lies in its irreplaceable franchise rights and scalable store model—not near-term profits. If it achieves consistent 15%+ ROCE and returns to double-digit net margins, re-rating potential exists. A terminal P/B of 5.5–6.0x on FY30 book value (~₹50–₹57) justifies the ₹255–₹340 range.
Sapphire Foods India Ltd: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (Samara Capital) | 26.07% |
| Domestic Institutional Investors (DII) | 37.54% |
| Foreign Institutional Investors (FII) | 29.22% |
| Public & Retail | 7.17% |
| Others | 0% |
High institutional ownership (66.76%) reflects confidence in the long-term QSR story, despite short-term losses.
Sapphire Foods India Ltd: Strengths vs Risks
Strengths:
- Exclusive franchise rights with global QSR giants (KFC, Pizza Hut, Taco Bell)
- Strong presence in high-growth markets (India, Sri Lanka)
- Near-zero debt (₹12.23 Cr) and improving working capital cycle
- ESG leader: Ranked #1 QSR in India by S&P Global CSA (2024)
Risks:
- Net loss in FY25; negative ROE (-0.52%)
- High P/B (4.78x) with no earnings support
- Asset-heavy model limits ROCE scalability
- Heavy reliance on Yum! Brands—no proprietary brands
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | High |
| Ideal Time Horizon | 5+ years |
| Volatility | Very High (small-cap consumer discretionary) |
| Dividend/Income Potential | None (0% yield) |
| Best For | Aggressive growth investors betting on India’s QSR boom |
- Samara Capital (Promoter): 26.07%
- DIIs: 37.54% (including mutual funds, insurance companies)
- FIIs: 29.22%
- Public: 7.17%
Final Verdict
Sapphire Foods India Ltd offers high-risk, high-reward exposure to India’s underpenetrated QSR market. While current losses and rich P/B valuation warrant caution, its franchise strength and institutional backing provide a long-term optionality. Our Sapphire Foods share price target 2026–2030 (₹195 to ₹340) assumes a gradual return to profitability and margin recovery—not immediate turnaround. Suitable only for aggressive portfolios with multi-year horizons.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Sapphire Foods Consolidated Page (FY2025 + TTM)
- Finology Ticker – SAPPHIRE Financial Ratios & Valuation
- Sapphire Foods Investor Presentation (Q2 FY26, Nov 2025)
- BSE/NSE – IPO Prospectus and Listing Documents (2021)
- Yum! Brands Franchise Disclosure Documents
