Sapphire Foods India: Can it whet appetite for investors?
With the increase in scale (expected to reach a store count of 680 in FY23), SFL’s margins are expected to improve and the margin differential with the bigger players would narrow
November 23, 2021 / 03:03 PM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Sapphire Foods India Ltd (SFL; CMP: Rs 1,216; Market Capitalisation: Rs 7,727 crore) saw a decent listing on bourses last week (considering the weak market sentiments), with the stock opening 11 percent above the issue price.
The stock did go 17 percent above its issue price (intraday high) but weak market conditions (index closed about 1 percent down) saw it closing just 3 percent above the issue price.
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