Sapphire Foods IPO - Investment Rationale, Valuations, Risks, Concerns: KRChoksey
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KRChoksey Research's IPO Report
Sapphire Foods India Ltd. or ' Sapphire Food' is YUM’s largest franchisee operator in the Indian subcontinent in terms of revenues for FY20.
In Sri Lanka, it is the largest international quick service restaurant chain in terms of revenue for FY21 and number of restaurants operated as of March 31, 2021.
It also has a decent presence in Maldives.
In CY2020, YUM brands KFC, Pizza Hut and Taco Bell recorded worldwide sales of $26.2 billion, $11.9 billion and $11.7 billion, respectively.
As of March 31, 2021, Sapphire Foods owned and operated 204 KFC restaurants in India and the Maldives, 231 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka.
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