Sapphire Foods India Limited has informed the Exchange regarding Outcome of Board Meeting held on April 28, 2026.
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Sapphire Foods India reported audited consolidated financial results for FY26 ending March 31, 2026. Revenue from operations grew 8.5% to Rs 31,253.17 million from Rs 28,818.64 million in FY25. However, the company swung to a consolidated loss of Rs 319.54 million after tax compared to a profit of Rs 167.04 million in FY25. Exceptional items of Rs 239.59 million (including Rs 142.53 million for new labour codes and Rs 97.06 million for merger-related expenses) impacted results. The Board approved re-appointment of key directors including Group CEO Sanjay Purohit and Chairman Sunil Chandiramani for 5-year terms. Mr. Amar Patel resigned as Executive VP and CTO, effective June 1, 2026. The company also noted its proposed merger with Devyani International Limited and relocation of registered office from Maharashtra to Haryana.
The company posted a significant loss despite revenue growth, indicating margin compression and exceptional charges. The proposed merger with Devyani International adds uncertainty. The auditor gave an unmodified opinion with no going concern issues flagged. Shareholders should watch for the shareholder vote on director re-appointments and merger approval.