Buy Sapphire Foods India, target price Rs 1700: ICICI Securities

ICICI Securities has buy call on Sapphire Foods India with a target price of Rs 1700. The current market price of Sapphire Foods India is Rs 1385.85. Time period given by analyst is one year when Sapphire Foods India Ltd. price can reach defined target.

Sapphire Foods India Ltd., incorporated in the year 2009, is a Large Cap company (having a market cap of Rs 9212.72 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 30-06-2022, the company reported a Consolidated Total Income of Rs 552.16 Crore, up 8.99 % from last quarter Total Income of Rs 506.60 Crore and up 1658.90 % from last year same quarter Total Income of Rs 31.39 Crore. Company reported net profit after tax of Rs 38.14 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 51.26 per cent stake in the company as of 30-Jun-2022, while FIIs owned 12.61 per cent, DIIs 12.48 per cent.