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Sapphire Foods IPO - Investment Rationale, Valuations, Risks, Concerns: KRChoksey

Sapphire Foods IPO - Investment Rationale, Valuations, Risks, Concerns: KRChoksey

<div class="paragraphs"><p>Pedestrians walk past Yum! Brands Inc. Pizza Hut and KFC restaurants. (Photographer: Qilai Shen/Bloomberg)</p></div>
Pedestrians walk past Yum! Brands Inc. Pizza Hut and KFC restaurants. (Photographer: Qilai Shen/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full IPO report:

KRChoksey Sapphire Foods India Ltd IPO Note.pdf

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