Buy Sapphire Foods India, target price Rs 1650: Emkay Global

Emkay Global has buy call on Sapphire Foods India Ltd. with a target price of Rs 1650. The current market price of Sapphire Foods India Ltd. is Rs 1346.4.

Sapphire Foods India Ltd., incorporated in the year 2009, is a Large Cap company (having a market cap of Rs 8530.90 Crore) operating in Tourism & Hospitality sector.

Sapphire Foods India Ltd. key Products/Revenue Segments include Food Products and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 569.90 Crore, up 3.21 % from last quarter Total Income of Rs 552.16 Crore and down -19.30 % from last year same quarter Total Income of Rs 706.17 Crore. Company reported net profit after tax of Rs 26.87 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 51.26 per cent stake in the company as of 30-Sep-2022, while FIIs owned 12.61 per cent, DIIs 16.77 per cent.