Sapphire Foods India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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Sapphire Foods India reported FY2026 consolidated revenue of ₹31,253.17 million, up 8.45% from ₹28,818.64 million in FY2025. However, the company swung to a net loss of ₹319.54 million for FY2026, compared to a profit of ₹167.04 million in FY2025. Q4 FY2026 also reported a loss of ₹126.21 million. The sharp decline was driven by exceptional items totaling ₹239.59 million — including ₹142.53 million from new labour code obligations and ₹97.06 million in merger-related costs. The auditors (Deloitte Haskins & Sells) issued an unmodified (clean) opinion. Key leadership changes include the resignation of CTO Amar Patel (effective June 2026) and re-appointments of Group CEO Sanjay Purohit and several independent directors, all for 5-year terms. The Board also confirmed a proposed merger with Devyani International Limited (share swap: 177 Devyani shares for every 100 Sapphire shares) and relocation of the registered office from Maharashtra to Haryana.
The shift from profit to loss despite revenue growth signals margin pressure from labour code compliance costs and merger expenses. The planned merger with Devyani International adds uncertainty but could offer long-term value. The clean audit opinion is reassuring; however, investors should monitor operational profitability as exceptional items are non-recurring in nature.