Hold Sapphire Foods India, target price Rs 1380: Emkay Global Financial Services

Emkay Global Financial Services has issued a hold call on Sapphire Foods India with a target price of Rs 1380, which is expected to be achieved within a year. The company’s Q4 EBITDA is 7-11% below the street’s estimates. While food products and other operating revenue are the key products and revenue segments for Sapphire Foods India, persisting weak macros have led to low SSG for KFC/PH. The company, however, remains optimistic about its near-term recovery and the rollout of new innovations. The company has posted Q4 consolidated total income of Rs 571.80 Crore, and its net profit after tax for the same quarter is Rs 135.48 Crore.