Sapphire Foods India Limited has informed the Exchange about Resignation of Director/KMP/SMP
SAPPHIRE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sapphire Foods India reported a consolidated net loss of Rs 126.21 crore for Q4 FY26 and Rs 319.54 crore for the full year ended March 31, 2026, against a profit of Rs 167.04 crore in FY25, hurt by exceptional items of Rs 239.59 crore. Revenue from operations grew to Rs 3,125.3 crore (vs Rs 2,881.9 crore in FY25). The Board also accepted the resignation of Mr. Amar Patel, Executive Vice President and Chief Technology Officer (a Senior Management Personnel), with his notice period running until June 1, 2026. Mr. Sanjay Purohit was re-appointed as Whole Time Director & Group CEO for five years, and three Independent Directors (Mr. Sunil Chandiramani, Ms. Deepa Wadhwa, Ms. Anu Aggarwal) were re-appointed for a second term, all until August 4, 2031 or the effective date of the proposed merger with Devyani International, whichever is earlier. Mr. Sumeet Narang will continue as Non-Executive Nominee Director. The merger with Devyani International (177 Devyani shares for every 100 Sapphire shares) is awaiting regulatory approvals, and the registered office shift from Maharashtra to Haryana was approved by the Regional Director.
The KMP resignation of the CTO is a minor leadership change and is unlikely to materially affect operations. The full-year swing to a Rs 319.54 crore loss is a concern for shareholders, but it is largely driven by one-time exceptional items (Labour Code impact and merger-related charges). Shareholders should watch the progress of the proposed merger with Devyani International, which would change the shareholding structure and ultimately could shorten the tenures of the re-appointed directors.