Sapphire Foods News

Subscribe to enjoy similar stories. BENGALURU : Quick service restaurant (QSR) operator Devyani International Ltd is planning to turn around its loss-making Pizza Hut business, which has proven to be an Achilles’ heel for the company over several quarters. Manish Dawar, the incoming president and chief executive, said the company will add zero net new Pizza Hut outlets in calendar 2025 and 2026, shifting attention instead to fixing the fundamentals.

Macquarie has initiated coverage on two key players in the quick service restaurant (QSR) sector, Devyani International and Sapphire Foods, with «Outperform» ratings expressing a positive outlook on the sector in India. The brokerage firm has set a target price of Rs 230 for Devyani International, a Yum! Brands franchisee in India, and Rs 390 for Sapphire Foods.

Samara Capital, along with a consortium of investors including Convergent Finance, is setting up a roll-up platform for packaged foods for which it has earmarked $150 million. It will explore M&As in mid-sized packaged foods as bolt-on or tuck-in acquisitions, pursue organic growth, and sign licensing deals to bring global food brands to India, executives directly aware of the development said. The platform will be similar to Sapphire Foods, which Samara Capital had set up for food services, which operates Yum! Brands' quick-service restaurant (QSR) chains KFC and Pizza Hut in India. The Samara Capital-backed platform, to be called Agro Tech Foods, has begun with Sundrop edible oil, peanut butter and ACT II popcorn as its first brands.

Gautam Shah, Founder & Chief Strategist, Goldilocks Premium Research, says “metals have started to look quite interesting. Nalco is a very high conviction idea for us for the whole of 2024 and can deliver supernormal returns. Steel Authority of India, Tata Steel, JSW Steel may beat the Nifty returns for sure for the next two to three quarters. Auto ancillary, I think, is a very interesting space as is fertilisers. Paper stocks and that entire unlocked theme of airlines, hotels. Other unlocked theme stocks like Sapphire Foods, Devyani International have very good fundamentals and have not done as well as some of the other themes. They should do quite well.”

Also Read: Zomato rings in record New Year's Eve, delivering almost as much as combined orders of NYE 15, 16, 17, 18, 19, 20 “QSR companies have not witnessed any material recovery in 3QFY24 compared to 2QFY24. There were expectations of strong sequential recovery in 3Q due to the weak base on account of a longer Shravan month (veg eating month), delayed festivals, and inflation impacting discretionary spending," the brokerage said.

promoter entities of Sapphire Foods, operator of KFC and Pizza Hut chains in India, sold shares worth 530 crore through block deals Monday. Sapphire Foods Mauritius divested 33.37 lakh shares, constituting 5.24% of the total equity capital, while Samara Capital Partners sold 4.49 lakh shares, equivalent to 0.71% of the total equity, at an average price of Rs 1,400 per share.

Sapphire Foods In Sapphire Foods, promoter group entities – Sapphire Foods Mauritius and Samara Capital sold stakes in the company through the open market. Archean Chemical Industries Archean Chemical Industries, Piramal Enterprises sold 3.4% stake through the open market for around Rs 252 crore. PNC Infratech The company has been declared Ll (first lowest) bidder in a Madhya Pradesh Road Development Corporation's (MPRDC) highway project. Read more: Here's the trade setup for today's session Nestle Nestle India has fixed January 5 as the record date to determine eligible shareholders for the stock split announced by the company in October. NHPC A Board meeting of NHPC is scheduled to be held on December 22 to consider the proposal regarding monetization of future cash flow of one or more power station(s) of the company for suitable tenure. Sun Pharma Sun Pharma has entered into agreement to acquire 16.7% shares on a fully diluted basis, in Lyndra Therapeutics engaged in the business of developing novel delivery technology for long-acting oral (LAO) therapies.

Devyani International Ltd, Sapphire Foods, Jubilant Foodworks, and Westlife Foodworld Limited, reported sluggish sales in the September quarter. This was due to a combination of factors, such as an extended period of religious days, which adversely affected the sale of non-vegetarian food, and increasing competition from smaller players. Most restaurant and fast-food chains underperformed in the September quarter.

stock prices have fallen, it's important to spot the ones where the correction is only temporary and not structural. The domestic brokerage noted that Westlife once again posted the strongest Same Store Sales Growth (SSSG), but with a narrowing difference compared to peers, while Trent once again displayed exceptional growth. Titan experienced an unexpected margin shortfall.

«I think while you may not see necessarily a big SSG growth for both of these businesses, you will see revenue top line and progressively EBITDA growth because the absolute number of branches will keep expanding,» says Gautam Trivedi, Nepean Capital.You have been a big votary of urban consumption and you bought into stocks like Landmark. You bought into stocks like Varun Beverages. You bought into stocks like Sapphire Foods. Where are some of these urban consumption stocks headed because A) it is a niche pocket. B) there is a base effect which would kick in. Yes, I agree.

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