5:1 Stock Split: QSR Company Sets September 5 as Record Date for Share Split, FIIs Increased Stake!
Sapphire Foods is one of the largest franchisees of Yum! Brands Inc. in the subcontinent, operates over 400 KFC, Pizza Hut, and Taco Bell restaurants across India, Sri Lanka, and the Maldives. The company holds non-exclusive rights to operate these three Yum! brands in the mentioned regions. Sapphire Foods owned and managed approximately 383 KFC restaurants in India and the Maldives, 422 Pizza Hut outlets across India, Sri Lanka, and the Maldives, and 9 Taco Bell locations in Sri Lanka.
The company has scheduled Thursday, September 5, 2024, as the “Record Date” to determine the entitlement of equity shareholders for a stock split. This split, approved by the equity shareholders at the Annual General Meeting on August 9, 2024, will divide each existing equity share with a face value of Rs 10 into 5 equity shares with a face value of Rs 2 each.
On Monday, the shares of Sapphire Foods closed at around Rs 1559.75 per share on the BSE. The company’s current market capitalization stands at Rs 9945.88 crore.
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As per the Quarterly Results, in the Q1 FY25, Sapphire Foods recorded a revenue of Rs 718.29 crore compared to Rs 654.38 crore. The operating profit stood at Rs 124.19 crore. The net profit stood at Rs 8.19 crore compared to a profit of Rs 24.87 crore. Looking at the annual performance, the company generated a revenue of Rs 2594 crore in FY24. The operating profit for FY24 was Rs 462 crore with a net profit of Rs 52 crore compared to a net loss of Rs 233 crore in FY23.
According to the shareholding pattern of the company, the promoters hold a significant 30.82 per cent stake. Public investors own 6.21 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 31.53 per cent and Domestic Institutional Investors (DIIs) own 31.46 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.