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Revenue
₹790 Cr
verified against source
Revenue YoY
11%
reported change
EBITDA
₹61 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Sapphire Foods delivered a strong Q4 FY26, with consolidated revenue of ₹790 crore (+11% YoY) and adjusted EBITDA of ₹61 crore (+20% YoY). KFC was the standout, posting 15% revenue growth and 4% SSSG (6% ex-Navratri), its best in 14 quarters, driven by a two-pronged value strategy: a ₹99 burger meal in north/west and BOGO offers in south. Pizza Hut India remained weak with -7% SSSG, but Sri Lanka continued its strong run with 11% SSSG and 15% revenue growth. Management expressed confidence that the KFC strategy is sustainable and that margins have bottomed, with April trends similar to Q4. Key risk: LPG cost inflation could impact EBITDA by 30-50 bps if not managed.
Colored figures show movement against the previous available record.
Guidance to track
- The 99-rupee burger meal is now a permanent value layer across all KFC stores except Tamil Nadu, driving new consumer recruitment.
- Management expects capex spend in FY27 to be similar to FY26, including new store openings, refurbishments, and renewal fees.
- The merger process is on track for completion by end of this financial year, pending SEBI and NCLT approvals.
- Given strong SSSG and margin profile, store openings in Sri Lanka could accelerate to high single-digit or low double-digit per year for next 2-3 years.
Risks flagged
- LPG prices have increased 25-40%, which could impact EBITDA by 30-50 basis points if not offset by price hikes or efficiency.
- The 99-rupee burger meal is currently supported by vendor partners; if support is withdrawn, gross margin could be impacted by 50-70 bps.
- Pizza Hut India SSSG was -7% and restaurant EBITDA margin declined; management's strategy is still unproven outside Tamil Nadu.
- Sri Lanka faces ongoing LPG and fuel shortages; while April has started well, the situation remains fluid and could impact demand.
Key quotes
- This is not a promotion. This is a permanent value layer that we are building over north and west.
- The confidence does not come from the low base. It comes from the strategy which is right now working at a ground which has been now in operation for last 4 months or so.
- We have been quite cautious of expanding from 150 stores to 220 now to 400 plus stores. So I think that the traction at the ground gives us the confidence.
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