Sapphire Foods India shares rise over 10% on reports of merger with Devyani International
Sapphire Foods India shares opened at ₹ 331.90 apiece on July 4, as compared to previous close of ₹ 320.55. The stock has gained over 7 per cent in past five trading sessions and nearly 11 per cent in a month.
Meanwhile, Devyani International share price climbed nearly 3.14 per cent to ₹ 173.68 on Friday following the merger report. The stock has descended over 13 per cent in six months, however, has gained 3 per cent in a year.
Both Devyani International and Sapphire Foods India currently operate KFC and Pizza Hut outlets in India as franchise partners of Yum! Brands. According to a report by The Economic Times, the U.S.-based company is now exploring the possibility of merging its two Indian partners into a single entity.
As part of this potential merger, Devyani International might take over all franchise rights of KFC and Pizza Hut from Sapphire Foods, or alternatively, all KFC outlets across India could be brought under Devyani's brand umbrella, the report stated.
A share swap ratio of 1:3 is being considered for the merger, meaning Sapphire Foods shareholders would receive one share of Devyani International for every three shares they hold.
Sapphire Foods posted a consolidated profit after tax (PAT) of ₹ 2.024 crore in the fourth quarter of FY25, showing a slight year-on-year decline from ₹ 2.039 crore recorded in the same period last year.
The company's revenue rose by 13 per cent YoY to ₹ 711 crore in Q4FY25, driven primarily by strong performances from KFC India and Pizza Hut Sri Lanka. During the quarter, six new KFC outlets were launched, bringing the total number of restaurants to 963 as of March 31, 2025.
Consolidated restaurant EBITDA saw a marginal 1 per cent YoY decline, with the margin at 12 per cent. Adjusted EBITDA fell 7 per cent to ₹ 50.8 crore, resulting in an adjusted EBITDA margin of 7.2 per cent.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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