{"id":3406,"date":"2021-11-08T17:21:47","date_gmt":"2021-11-08T17:21:47","guid":{"rendered":"https:\/\/rakshithpai.com\/?p=3406"},"modified":"2023-12-22T14:02:06","modified_gmt":"2023-12-22T14:02:06","slug":"sapphire-foods-ipo","status":"publish","type":"post","link":"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/","title":{"rendered":"Sapphire Foods India Limited IPO. Is it Worth Subscribing?"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-662d41b00853c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\" style='display:none' id=\"ez-toc-cssicon-toggle-item-662d41b00853c\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Business_Introduction\" title=\"Business Introduction:\">Business Introduction:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#About_founders\" title=\"About founders:\">About founders:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Company_Shareholders\" title=\"Company Shareholders:\">Company Shareholders:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#IPO_Details\" title=\"IPO Details:\">IPO Details:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Object_of_the_Issue\" title=\"Object of the Issue:\">Object of the Issue:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Financial_Information\" title=\"Financial Information:\">Financial Information:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Revenue_Statement\" title=\"Revenue Statement:\">Revenue Statement:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Restuarant_sales_report\" title=\"Restuarant sales report:\">Restuarant sales report:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Yearly_Financial_progress_report\" title=\"Yearly Financial progress report:\">Yearly Financial progress report:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Restuarant_EBITDA_report\" title=\"Restuarant EBITDA report:\">Restuarant EBITDA report:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Company_Opportunity_Strength\" title=\"Company Opportunity &amp; Strength:\">Company Opportunity &amp; Strength:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Company_Threats_Weakness\" title=\"Company Threats &amp; Weakness:\">Company Threats &amp; Weakness:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Management_Analysis\" title=\"Management Analysis:\">Management Analysis:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Risk_Factors\" title=\"Risk Factors:\">Risk Factors:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Industry_Overview\" title=\"Industry Overview:\">Industry Overview:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Conclusion\" title=\"Conclusion:\">Conclusion:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#IPO_Ratings\" title=\"IPO Ratings:\">IPO Ratings:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#How_to_apply_for_%E2%80%93_IPO\" title=\"How to apply for &#8211; IPO?\">How to apply for &#8211; IPO?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/rakshithpai.com\/sapphire-foods-ipo\/#Also_read\" title=\"Also read:\">Also read:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_Introduction\"><\/span><strong>Business Introduction:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Sapphire Foods India is the largest franchisee of the YUM brand on the Indian subcontinent by revenue as of FY&#8217;20. Additionally, it is Sri Lanka&#8217;s largest international quick-service restaurant chain in terms of revenue for the fiscal year 2021 and restaurant count as of March 31, 2021.&nbsp;<\/p>\n\n\n\n<p>The firm owned and operated 204 <a href=\"https:\/\/rakshithpai.com\/devyani-international-ipo\/\">KFC<\/a> restaurants in India and the Maldives as of March 31, 2021, 231 <a href=\"https:\/\/rakshithpai.com\/devyani-international-ipo\/\">Pizza Hut<\/a> stores in India, Sri Lanka, and the Maldives, and two Taco Bell restaurants in Sri Lanka. The overall number of restaurants operated by the corporation in the subcontinent region increased from 376 in 2019 to 437 in 2021.<\/p>\n\n\n\n<p>The company operates its own supply chain and collaborates with vendors on food ingredients, packaging, warehousing, and logistics. The company runs warehouses in five cities throughout India and has invested in digital solutions for their restaurants.\u00a0<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-1 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/upstox.com\/open-account\/?f=FN1853\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p>The company leverages the YUM brand&#8217;s global online and digital channel solutions to improve the consumer experience, increase operational efficiency, and maintain financial management. The company runs restaurants in high-traffic, high-visibility locations throughout India&#8217;s major metropolitan areas and cities and plans to expand into additional cities as part of its expansion strategy.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"About_founders\"><\/span><strong>About founders:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The company is promoted by QSR Management Trust and Sapphire Foods Mauritius Limited.<\/p>\n\n\n\n<p>Group CEO &amp; Whole Time Director &#8211; Mr.Sanjay Purohit. He has over 30 years of work experience across consumer product categories including food and apparel retail, packaged food, and paints.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_Shareholders\"><\/span><strong>Company Shareholders:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n<div class=\"su-table su-csv-table su-table-responsive su-table-alternate su-table-fixed\"><table><tr><th>Name<\/th><th>Percentage of Equity Holdings<\/th><\/tr><tr><td>Sapphire Foods Mauritius<\/td><td>45.52%<\/td><\/tr><tr><td>WWD Ruby<\/td><td>18.38%<\/td><\/tr><tr><td>Edelweiss Crossover Opportunities Fund<\/td><td>6.69%<\/td><\/tr><tr><td>Amethyst<\/td><td>6.53%<\/td><\/tr><tr><td>QSR Management Trust<\/td><td>5.83%<\/td><\/tr><tr><td>AAJV Investment Trust<\/td><td>0.13%<\/td><\/tr><tr><td><\/td><\/tr><\/table><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"IPO_Details\"><\/span><strong>IPO Details:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"su-table su-csv-table su-table-responsive su-table-alternate su-table-fixed\"><table><tr><th>Particulars<\/th><th>Information<\/th><\/tr><tr><td>IPO Issue opens on<\/td><td>November 9, 2021<\/td><\/tr><tr><td>IPO Issue closes on<\/td><td>November 11, 2021<\/td><\/tr><tr><td>Issue Type<\/td><td>Book Built Issue IPO<\/td><\/tr><tr><td>Face Value<\/td><td>Rs. 10 per equity share<\/td><\/tr><tr><td>IPO Price<\/td><td>Rs. 1,120 - 1,180 per equity share<\/td><\/tr><tr><td>Minimum Order Quantity<\/td><td>1 lot = 12 Shares, Amounting Rs. 14,160<\/td><\/tr><tr><td>Maximum Order Quantity<\/td><td>14 lot = 168 Shares, Amounting Rs. 1,98,240<\/td><\/tr><tr><td>Listing At<\/td><td>NSE and BSE<\/td><\/tr><tr><td>Issue Size<\/td><td>Amount aggregating up to Rs. 2,073.25 crore<\/td><\/tr><tr><td>Fresh Issue<\/td><td>-<\/td><\/tr><tr><td>Offer for Sale<\/td><td>Amount aggregating up to Rs. 2,073.25 crore<\/td><\/tr><tr><td>Allotment date<\/td><td>November 16, 2021<\/td><\/tr><tr><td>Initiation of Refunds<\/td><td>November 17, 2021<\/td><\/tr><tr><td>Credit of share to Demat Account<\/td><td>November 18, 2021<\/td><\/tr><tr><td>IPO Listing date<\/td><td>November 22, 2021<\/td><\/tr><tr><td><\/td><\/tr><\/table><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Object_of_the_Issue\"><\/span><strong>Object of the Issue:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>Enhancing the company&#8217;s brand recognition among current and prospective consumers.<\/li>\n\n\n\n<li>Establishment of an open market for the company&#8217;s shares.<\/li>\n\n\n\n<li>Conduct a sale offer for the selling shareholders.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financial_Information\"><\/span><strong>Financial Information:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Revenue_Statement\"><\/span><strong>Revenue Statement:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"828\" height=\"742\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-Financial-report.jpg\" alt=\"\" class=\"wp-image-3411\" style=\"width:1181px;height:1058px\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-Financial-report.jpg 828w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-Financial-report-300x269.jpg 300w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-Financial-report-768x688.jpg 768w\" sizes=\"(max-width: 828px) 100vw, 828px\" \/><\/figure>\n\n\n\n<p>Sapphire Foods cut their loss in FY21 to Rs 99.9 crore from Rs 159.25 crore the previous year. Due to the Covid-19 problem, revenue from operations decreased to Rs 1,019.62 crore in FY21 from Rs 1,340.41 crore in FY20.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-2 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/upstox.com\/open-account\/?f=FN1853\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Restuarant_sales_report\"><\/span><strong>Restuarant sales report:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"758\" height=\"287\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-Restuarant-revenue-report.jpg\" alt=\"\" class=\"wp-image-3414\" style=\"width:1182px;height:448px\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-Restuarant-revenue-report.jpg 758w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-Restuarant-revenue-report-300x114.jpg 300w\" sizes=\"(max-width: 758px) 100vw, 758px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yearly_Financial_progress_report\"><\/span><strong>Yearly Financial progress report:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n<div class=\"su-table su-csv-table su-table-responsive su-table-alternate su-table-fixed\"><table><tr><th>Particulars (In crores)<\/th><th>Jun-21<\/th><th>FY21<\/th><th>FY20<\/th><th>FY19<\/th><\/tr><tr><td>Total Assets<\/td><td>1,371.07<\/td><td>1,348.93<\/td><td>1,380.66<\/td><td>1567.47<\/td><\/tr><tr><td>Revenue from operations<\/td><td>313.92<\/td><td>1,081.23<\/td><td>1,351.73<\/td><td>1,206.28<\/td><\/tr><tr><td>Net profit<\/td><td>-26.4<\/td><td>-99.89<\/td><td>-159.24<\/td><td>-69.4<\/td><\/tr><tr><td><\/td><\/tr><\/table><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Restuarant_EBITDA_report\"><\/span><strong>Restuarant EBITDA report:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"757\" height=\"306\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-EBITDA-report.jpg\" alt=\"\" class=\"wp-image-3415\" style=\"width:1181px;height:477px\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-EBITDA-report.jpg 757w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-EBITDA-report-300x121.jpg 300w\" sizes=\"(max-width: 757px) 100vw, 757px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_Opportunity_Strength\"><\/span><strong>Company Opportunity &amp; Strength:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>The largest quick-service restaurant (QSR) chain in India, with a considerable market presence both online and offline.<\/li>\n\n\n\n<li>Significant investments have been made in operations, and a well-defined procedure has been established.<\/li>\n\n\n\n<li>Developed a scalable economic model for a new restaurant in preparation for growth.<\/li>\n\n\n\n<li>Having a healthy net worth and relying on capital borrowing sparingly.<\/li>\n\n\n\n<li>A strong management team with over two decades of food industry experience.<\/li>\n\n\n\n<li>Conversion from ad hoc food service to a branded one.<\/li>\n\n\n\n<li>Rapid expansion to seize growth opportunities.<\/li>\n\n\n\n<li>Using an omnichannel approach.<\/li>\n\n\n\n<li>Investigating acquisition prospects for a high-quality, scalable quick-service restaurant and food brand.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_Threats_Weakness\"><\/span><strong>Company Threats &amp; Weakness:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>Intense competition from domestic and international food chain titans, including Jubilant Food Works Ltd, Westlife Development Ltd, and Burger King India Ltd.<\/li>\n\n\n\n<li>Healthcare reforms and changes in local\/national government regulations.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Management_Analysis\"><\/span><strong>Management Analysis:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Sapphire Foods India Limited strives to be India&#8217;s top restaurant operator by providing superior food and service at an affordable price. The company runs various restaurants in high-traffic, high-visibility locations throughout India&#8217;s major urban areas and cities, and is constantly expanding its brand and food category.<\/p>\n\n\n\n<p>The company is equipped with top-class management who are well experienced in the industry.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Risk_Factors\"><\/span><strong>Risk Factors:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>The company has lost money in each of the last three fiscal years and may continue to lose money in the future.<\/li>\n\n\n\n<li>It is possible that it will incur extra debt in the future.<\/li>\n\n\n\n<li>National and international food and restaurant regulations\/practices are always changing and evolving.<\/li>\n\n\n\n<li>The danger of exposure to chicken-related diseases such as bird flu can have a negative influence on the supply and consumption of chicken, resulting in losses.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-3 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/upstox.com\/open-account\/?f=FN1853\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Industry_Overview\"><\/span><strong>Industry Overview:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In the fiscal year 2020, India&#8217;s domestic consumption proportion of GDP, as measured by private final consumption spending, was roughly 60%. In comparison, China&#8217;s domestic consumption contributed 36.8 percent of GDP in 2019. While the high proportion of private consumption to GDP insulates India from global economic volatility, it also implies that continuous economic growth directly translates into sustained consumer demand for domestically produced products and services. Between 2014 and 2019, India&#8217;s domestic consumption grew at a CAGR of 11.1 percent, compared to 4.3 percent and 8.2 percent in the United States and China, respectively.<\/p>\n\n\n\n<p>Food services are a significant sector of the Indian economy, accounting for around the US $56.5 billion (approximately 4.24 trillion) in the fiscal year 2020, with approximately US $22.8 billion (approximately 1.7 trillion) from the organized market (chain and organized standalone outlets). Consumer trends in India are projected to continue to drive expansion in the food services sector.<\/p>\n\n\n\n<p>A household spends over 38% of its out-of-home dining budget at quick-service restaurants (&#8220;QSRs&#8221;), followed by casual dining restaurants (&#8220;CDRs&#8221;) (31%), and caf\u00e9s (3%). (14 percent). The significant percentage of QSRs in overall spending is attributed to their ease of access, competitive pricing, combinations, and promotions, which make them a favorite among young people and young office workers.<\/p>\n\n\n\n<p>According to 2014 data given by the government of India, 72 percent of males and 71% of females aged 15 years and above were expected to be non-vegetarian.<\/p>\n\n\n\n<p>As a result, the company&#8217;s market is enormous and rising.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Sapphire Foods has ascended to the pinnacle of the food franchising industry. Sapphire Foods operates in Asia, with operations in India, Sri Lanka, and the Maldives. The total number of stores has increased from 376 in March 2020 to 450 in June 2021.<\/p>\n\n\n\n<p>In the Indian subcontinent, Sapphire Foods is YUM&#8217;s largest franchise operator. The company began its relationship with Yum in 2015 and currently has the non-exclusive license to operate restaurants in the Territories under three of YUM&#8217;s top brands, notably KFC, Pizza Hut, and Taco Bell.<\/p>\n\n\n\n<p>They owned and operated 209 KFC restaurants in India and the Maldives as of June 30, 2021, 239 Pizza Hut locations in India, Sri Lanka, and the Maldives, and two Taco Bell locations in Sri Lanka. As of June 30, 2021, the total number of restaurants is 450.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"753\" height=\"217\" src=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-total-stores-count.jpg\" alt=\"\" class=\"wp-image-3413\" style=\"width:1181px;height:340px\" srcset=\"https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-total-stores-count.jpg 753w, https:\/\/rakshithpai.com\/wp-content\/uploads\/2021\/11\/Sapphire-Foods-India-Limited-total-stores-count-300x86.jpg 300w\" sizes=\"(max-width: 753px) 100vw, 753px\" \/><\/figure>\n\n\n\n<p>In comparison to Devyani International, Sapphire Foods India has a higher revenue per store. The corporation continues to improve its EBITDA margin. Taking into account all of the positive characteristics, we believe this valuation is appropriate.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"IPO_Ratings\"><\/span><strong>IPO Ratings:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n<div class=\"su-table su-csv-table su-table-responsive su-table-alternate su-table-fixed\"><table><tr><th>Particulars<\/th><th>Rating (Out of 10)<\/th><\/tr><tr><td>Business Prospects<\/td><td>9<\/td><\/tr><tr><td>Financial Information<\/td><td>8<\/td><\/tr><tr><td>SWOT<\/td><td>8<\/td><\/tr><tr><td>IPO Valuation<\/td><td>8<\/td><\/tr><tr><td>Overall<\/td><td>8.25<\/td><\/tr><tr><td><\/td><\/tr><\/table><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_apply_for_%E2%80%93_IPO\"><\/span><strong>How to apply for &#8211; IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Steps to be followed to apply for \u201cSapphire Foods India Limited\u201d via <a href=\"https:\/\/rakshithpai.com\/zerodha-review\/\">Zerodha<\/a> console:<\/p>\n\n\n\n<p>Step 1: Visit the Zerodha website and log in to Console.<\/p>\n\n\n\n<p>Step 2: Go to Portfolio and click the IPOs link.<\/p>\n\n\n\n<p>Step 3: Go to the \u201cSapphire Foods India Limited\u201d row and click the \u2018Bid\u2019 button.<\/p>\n\n\n\n<p>Step 4: Enter your UPI ID, Quantity (In lots), and Price.<\/p>\n\n\n\n<p>Step 5: \u2018Submit\u2019 IPO application form.<\/p>\n\n\n\n<p>Step 6: Visit the UPI App (net banking or BHIM) to approve the mandate.<\/p>\n\n\n\n<p>Do not have a brokerage account? Apply for <a href=\"https:\/\/rakshithpai.com\/upstox-review\/\">Upstox<\/a> \u2013 India\u2019s top brokerage service.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-horizontal is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-4 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/upstox.com\/open-account\/?f=FN1853\" style=\"border-radius:50px;color:#0f0027;background-color:#e4fa00\" rel=\"nofollow\"><strong>Open Upstox Account Now!<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><strong>Disclaimer:<\/strong> All the information on this website is published in good faith and for general information purpose only.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Also_read\"><\/span><strong>Also read:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><a href=\"https:\/\/rakshithpai.com\/best-information-technology-stocks\/\" target=\"_blank\" rel=\"noreferrer noopener\">Best Information Technology Stocks to Buy in India 2022<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/best-stocks-to-buy-in-india\/\" target=\"_blank\" rel=\"noreferrer noopener\">Best Long Term Stocks in India 2022<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/sjs-enterprises-ipo\/\" target=\"_blank\" rel=\"noreferrer noopener\">SJS Enterprises IPO<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/nykaa-ipo\/\" target=\"_blank\" rel=\"noreferrer noopener\">Nykaa IPO<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/rakshithpai.com\/paytm-ipo\/\" target=\"_blank\" rel=\"noreferrer noopener\">PayTm IPO<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Business Introduction: Sapphire Foods India is the largest franchisee of the YUM brand on the Indian subcontinent by revenue as of FY&#8217;20. Additionally, it is Sri Lanka&#8217;s largest international quick-service restaurant chain in terms of revenue for the fiscal year 2021 and restaurant count as of March 31, 2021.&nbsp; The firm owned and operated 204 [&hellip;]<\/p>\n<div class='heateor_sss_sharing_container heateor_sss_vertical_sharing heateor_sss_bottom_sharing' style='width:44px;right: -10px;top: 100px;background-color: Dark Blue' data-heateor-sss-href='https:\/\/rakshithpai.com\/wp-json\/wp\/v2\/posts\/3406'><div class=\"heateor_sss_sharing_ul\"><a aria-label=\"Facebook\" class=\"heateor_sss_facebook\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Frakshithpai.com%2Fwp-json%2Fwp%2Fv2%2Fposts%2F3406\" title=\"Facebook\" rel=\"nofollow noopener\" target=\"_blank\" style=\"font-size:32px!important;box-shadow:none;display:inline-block;vertical-align:middle\"><span class=\"heateor_sss_svg\" 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