KFC and Pizza Hut operator Sapphire Foods share price in focus on stock split of 1 share into 5 shares

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Stock Market Today: Sapphire Foods India Limited share price remains in focus on stock split news. Sapphire Foods India Limited is the operator of KFC and Pizza Hut outlets in the country. It also is YUM’s Franchisee Operator in Sri Lanka and Maldives along with India.

The Sapphire Foods India Ltd share price has been rising and is up almost 10% in the last one month. On Wednesday the Sapphire Foods India share price gained 43.50 to end the day , up 2.57% at 1557.50 a share. 

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Sapphire Foods India Limited in its release on the exchanges said that at its meeting on Wednesday, June 19, 2024,   among other things, company has discussed and approved that the  shares of the Company from 1 (One) equity share having face value of Rs. 10/- (Rupees  Ten) each fully paid up, will be split into 5 (Five) equity shares having face value of Rs. 2/- (Rupees Two) each fully paid-up, which is subject to the approval of shareholders at the forthcoming 15th Annual General Meeting of the Company.

The company also said that the date of 15th Annual General Meeting of the Company and Record Date for the purpose of subdivision/split of existing equity shares of the Company, will be intimated in due course and at an opportune time.

Sapphire Foods as per its presentation at the end of Q4 operated 872 Total Restaurants across India, Sri Lanka and Maldives. 431 of the totals were KFC Restaurants, 432 Pizza Hut Restaurants  and 9 Taco Bell Restaurants.

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The FY24 Restaurant Sales for Sapphire Foods stood at 2588 Crore. The Q4FY24 Restaurant sales were at 630 Crore. The Sapphire Foods clocked in 103 crore as earnings before interest tax depreciation and amortisation during Q4, while FY24 Ebitda came at 472 crore with 19.2% Ebitda margins. 

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions

 

 

 

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Published: 20 Jun 2024, 09:01 AM IST

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