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Dolat Capital Report
Sapphire Foods India Ltd. delivered healthy revenue growth of 45.9% with ~43% growth in India KFC, 33% increase in Pizza Hut business and 82% jump in Sri Lanka operations. KFC Brand crossed Rs 10 billion mark during the year.
Despite Covid-19-led disruptions in Q4, all brands reported encouraging performance.
Healthy growth in Sri Lanka business was a positive surprise considering micro economic challenges in the country.
Sapphire Foods opened 29 new stores during Q4 (13 KFC and 19 Pizza Hut) and 142 stores during FY22 (60 KFC, 79 Pizza Hut and three Taco Bell), taking the total store count to 579.
We believe that the company would continue to add 130-160 stores every year going ahead with a cluster based approach and penetration strategy.
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