Employees: 13,819
Size Sapphire Foods India (SAPPHIRE.NS) is an India Consumer Discretionary company (Restaurants) with a market value of $715M, the 708th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹210.06 on 6 Nov 2026.
Performance Over six months the shares gained 11.7%, against +6.5% for the median peer and 0.0% for the India market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 13.3% over the last twelve months (peer median +8.2%); the operating margin is 3.6% (peer median 6.9%).
Valuation It trades at 409.8× forward earnings against a peer median of 19.2× (most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 47% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is +22 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 11.3 points below its cost of capital (14.7% WACC).
Next results Next results expected around 14 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹33.9B | ₹31.3B | ₹28.8B | ₹25.9B | ₹22.7B |
| Revenue growth | — | +8% | +11% | +15% | — |
| Gross profit | ₹14.7B | ₹10.5B | ₹9.89B | ₹9.05B | ₹9.33B |
| EBITDA | ₹5.25B | ₹4.75B | ₹4.79B | ₹4.62B | ₹4.30B |
| Net income | -₹48.5M | -₹320M | ₹193M | ₹528M | ₹2.33B |
| Free cash flow | n/a | ₹1.90B | ₹2.51B | ₹742M | ₹40.6M |
| Capital expenditure | n/a | ₹3.20B | ₹2.65B | ₹3.85B | ₹3.84B |
| Total debt | ₹15.2B | ₹14.2B | ₹12.9B | ₹11.6B | ₹9.63B |
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| Measure | SAPPHIRE.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.3% | +9.0% | 5th lowest of 21 |
| 6-month return | +11.7% | +6.5% | 8th highest of 21 |
| Distance from 52-week high | -31.0% | -13.1% | 5th lowest of 21 |
| Revenue growth (TTM) | +13.3% | +8.2% | 7th highest of 21 |
| Operating margin | 3.6% | 6.9% | 6th lowest of 21 |
| Forward P/E | 409.8× | 19.2× | most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 46.7% | 1.9% | most demanding of 17 |
| Growth delivered (Del g) | +25.1% | +13.5% | 3rd highest of 17 |
| Hurdle (Req g minus delivered) | +21.6 pp | -12.8 pp | most demanding of 17 |
| ROIC minus cost of capital | -11.3 pp | +1.1 pp | 2nd lowest of 20 |
| EV / EBITDA | 15.3× | 10.3× | 6th most expensive of 20 |
| Net debt / EBITDA | 2.5× | 2.0× | 10th most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sapphire Foods India SAPPHIRE.NS | India | $715M | +12% | +13% | 4% | 409.8× | 46.7% | +25.1% |
| Maruchiyo Yamaokaya 3399.T | Japan | $710M | +82% | +19% | 11% | 28.4× | 3.5% | +24.7% |
| Cannae CNNE | United States | $700M | +25% | -7% | -17% | n/a | n/a | n/a |
| Matsuya Foods 9887.T | Japan | $733M | +7% | +18% | 4% | n/a | n/a | n/a |
| Hiday Hidaka 7611.T | Japan | $760M | +11% | +10% | 11% | 23.5× | -3.3% | +16.1% |
| Collins Foods CKF.AX | Australia | $762M | +15% | +5% | 8% | 16.3× | 1.4% | +8.4% |
| Restaurant Brands Asia RBA.NS | India | $668M | +31% | +16% | 0% | n/a | n/a | n/a |
| Auntea Jenny (Shanghai) Industrial 2589.HK | Hong Kong | $784M | -61% | +36% | 15% | 8.5× | -7.1% | +23.7% |
| Papa John's International PZZA | United States | $650M | -37% | -6% | 5% | 19.7× | 4.8% | +2.5% |
| First Watch Restaurant FWRG | United States | $794M | +6% | +16% | 3% | 53.3× | n/a | n/a |
| A&W Food Services of Canada AW.TO | Canada | $625M | 0% | +3% | 30% | 14.0× | 2.6% | -0.6% |
| Super Hi International 9658.HK | Hong Kong | $619M | -23% | +11% | 6% | 18.1× | -1.7% | +30.7% |
| Bloomin' Brands BLMN | United States | $835M | +23% | -2% | 3% | 10.5× | 10.6% | +4.5% |
| Mos Food Services 8153.T | Japan | $845M | +10% | +6% | 5% | 30.3× | 2.2% | +7.4% |
| Kura Sushi 2695.T | Japan | $848M | -2% | +4% | 1% | 48.1× | 21.5% | +12.5% |
| MTY Food MTY.TO | Canada | $600M | -6% | -4% | 16% | 8.2× | -3.8% | +18.4% |
| KOMEDA 3543.T | Japan | $859M | -4% | +13% | 17% | 19.2× | -0.7% | +14.7% |
| Royal 8179.T | Japan | $887M | +5% | +7% | 5% | 24.6× | 5.7% | +14.4% |
| Fuller, Smith & Turner P.L.C FSTA.L | United Kingdom | $576M | +29% | +6% | 12% | 15.9× | 8.0% | +40.3% |
| Bronco Billy 3091.T | Japan | $551M | +41% | +14% | 12% | 32.1× | 1.5% | +11.8% |
| Wowprime 2727.TW | Taiwan | $550M | -1% | +10% | 8% | 12.2× | -11.9% | +9.0% |