Sapphire Foods Delivers 8% EBITDA Beat in 2Q, Emkay Sets Rs 260 Target
Emkay Global Financial said Sapphire Foods delivered an approximately 8% EBITDA beat in the second quarter, led by around 32% growth in KFC EBITDA versus an expected 20%. It cited 5% same-store growth at Pizza Hut India and 26% KFC top-line growth; Emkay's report recommends buying the shares with a Rs 260 target.
Emkay Global Financial' research report on Sapphire FoodsSapphire delivered an all-around EBITDA beat of ~8% in 2Q, led by ~32% growth in KFC EBITDA (vs expectation of ~20%). PH India is seeing strong turnaround, with 5% SSG in 2Q while KFC top-line growth was strong at 26%, though partly aided (40…