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 a consolidated net loss of Rs. 319.54 million for FY26 ending March 2026, a sharp reversal from a profit of Rs. 167.04 million in FY25. Revenue from operations grew 8.4% year-on-year to Rs. 31,253.17 million. The company posted an operating loss (before exceptional items) of Rs. 133.01 million for the full year. Exceptional items of Rs. 239.59 million included Rs. 142.53 million related to new labour code implementation and Rs. 97.06 million in merger-related charges. The Board approved re-appointment of Group CEO Sanjay Purohit and four other directors, all subject to shareholder approval. Mr. Amar Patel, Executive Vice President and CTO, resigned effective June 1, 2026. Deloitte Haskins & Sells issued an unmodified (clean) audit opinion on both standalone and consolidated results. The Board also noted regulatory approval for shifting the company's registered office from Maharashtra to Haryana.
The company swung to a net loss in FY26 despite revenue growth, primarily due to labour code compliance costs and merger-related charges. The proposed merger with Devyani International Limited remains pending shareholder and regulatory approvals.