5:1 stock split announced & 30 per cent from its 52-week low: FIIs bought 14.45 per cent stake & DIIs bought 4.95 per cent stake in FY24
The stock is up by 30 per cent from its 52-week low of Rs 1,218.50 per share.
Sapphire Foods India Ltd informed that the meeting of the Board of Directors of the company announced the stock split of equity shares in the ratio 5:1 i.e., existing 1 equity share having a face value of Rs 10 each, into 5 equity shares having a face value of Rs 2 each, fully paid-up. The date of the 15th Annual General Meeting of the company and the record date for subdivision/split of existing equity shares of the company will be intimated in due course and at a reasonable time.
Sapphire Foods India Ltd., established in 2015, is a major franchise operator for Yum! Brands in India, Sri Lanka, and the Maldives. They hold the rights to operate KFC, Pizza Hut, and Taco Bell restaurants across these regions, with over 400 locations in total. As of November 2023, this includes 383 KFCs and 422 Pizza Huts, making Sapphire Foods Sri Lanka's largest international quick-service restaurant chain with 122 outlets spread across 52 cities. Yum! Brands, the American fast-food corporation they partner with, is a global giant in the industry owning popular chains like KFC, Pizza Hut, and Taco Bell, with a presence in over 135 countries.
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The company has a market cap of over Rs 10,000 crore and has delivered good profit growth of 26 per cent CAGR over the last 5 years. As of March 2024, FIIs bought a 14.45 per cent stake & DIIs bought a 4.95 per cent stake and increased their stake to 29.95 per cent and 32.39 per cent respectively, in the company in FY24 compared to 15.50 per cent and 27.45 per cent respectively in FY23.
On Friday, shares of Sapphire Foods India Ltd gained 0.82 per cent to Rs 1,589.95 per share from its previous closing of Rs 1,577 with an intraday high of Rs 1,607 and an intraday low of Rs 1,563.25. The stock is up by 30 per cent from its 52-week low of Rs 1,218.50 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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