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27 Years
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Resturants company Sapphire Foods India announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Our Q4FY24 Consol Restaurant Sales (Rs 6,297 million) grew by 13% and EBITDA (Rs 1,102 million) grew by 7%. Demand across all consumer product categories remains constrained, as reflected in Private Final Consumption Expenditure data for previous quarters released by Government of India.
- In Q4FY24 we added 23 KFC restaurants. Sapphire Foods total restaurant count is 872 as on 31st Mar 24.
- Consol. Restaurant EBITDA declined by 5% YoY, and margin was at 13.6% (down by 260 bps)
- Consol. EBITDA (Rs 1,102 million, 17.5%) grew YoY by 7% (down by 90 bps) | Consol Adj. EBITDA (Rs 544 million, 8.6%) declined YoY by 3% (down by 150 bps)
- Consol. PBT (Rs 8 million, 0.1%) | Consol Adj. PBT (Rs 83 million, 1.3%). Consol PAT was Rs 20 million (0.3%) | Consol Adj. PAT was Rs 76 million (1.2%)
- Sapphire KFC continues to perform well in a tough consumer demand environment. It delivered another quarter of healthy performance with restaurant sales growth of 16% YoY (-3% SSSG) and Restaurant EBITDA at 18.7% (down by 40 bps YoY).
- For FY24, Sapphire KFC demonstrated an industry leading all-round performance with 88 new restaurant additions, Revenue growth of 18% and Restaurant EBITDA margin of 19.7% (down by 30 bps YoY, best ever annual performance).
- Pizza Hut Restaurant Sales in Q4FY24 declined by 3% YoY and SSSG by 15% which considerably shrank Restaurant EBITDA margins. Coupled with our enhanced marketing investment, our Rest. EBITDA margin dropped to -2.7% in Q4FY24. Excluding the additional marketing spend, the brand broke even at the Restaurant EBITDA level.
FY24 Financial Highlights:
- Sapphire has delivered the best all-round performance in the industry (all parameters considered): Revenue scale & growth [up by 15%], EBITDA margin [18.2%] & growth [up by 9%] and New restaurant additions [129].
- Sapphire KFC highest restaurant EBITDA margin % amongst all QSR players: 19.7%
- Sapphire KFC and Sapphire PH being recognized as among the top 3 franchisees of Yum globally on customer metrics and operating standards.
- Sapphire Foods is ranked No.1 QSR in India and at 95th percentile amongst QSR globally on Dow Jones Sustainability Index (DJSI).
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