Sapphire Foods India Merger & Restructuring
Sapphire Foods received CCI approval under Section 31(1) for its proposed merger into Devyani International under a Scheme of Arrangement. The detailed CCI order is still awaited.
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Sapphire Foods received CCI approval under Section 31(1) for its proposed merger into Devyani International under a Scheme of Arrangement. The detailed CCI order is still awaited.
Sapphire delivered record revenue growth driven by aggressive value-pricing and store expansion, though severe inflationary pressures are squeezing restaurant-level margins.
Sapphire Foods reported its best revenue and Adj. EBITDA growth in 16 quarters. The company focus remains on consumer recruitment through value-driven strategies like 'Every Day Value'.
Sapphire Foods India Ltd reported revenue from operations of ₹888 Cr (+19.6% YoY) and a net loss of ₹1.5 Cr for Q2 FY27.
ICRA Limited has upgraded the credit ratings for various bank facilities of Sapphire Foods India Limited. The company has informed the Exchange about this rating revision.
Sapphire Foods received a show cause notice from UP GST authorities alleging short payment of Rs. 2.15 Crore. The company stated the claim is not maintainable.
Sapphire Foods received a GST show cause notice for INR 1.403 Crore from the Assistant Commissioner of State Tax, Gujarat. The company disputes the claim's maintainability.
Sapphire Foods received a GST show cause notice for INR 19.99 Crore regarding tax and ITC discrepancies. The company considers the claim not maintainable.
Sapphire Foods received a GST show cause notice amounting to ₹21.465 Crore for the period April 2022 to March 2023. The company is evaluating the notice.
Sapphire Foods received a GST show cause notice for INR 516.84 Crore. The company contests the claim and expects no material impact on its operations.
Director Sanjay Purohit sold 902,555 equity shares of Sapphire Foods India Ltd via market sale for Rs.20.31 Crore.
Sapphire Foods India Limited and Devyani International Limited have jointly filed an application with the Competition Commission of India regarding their proposed merger.
Director Sanjay Purohit sold 694,445 equity shares of Sapphire Foods India Ltd worth ₹15.87 Crore via market sale. This PIT disclosure details the director's equity reduction.
Sapphire Foods India Ltd approved a revised scheme of amalgamation with Devyani International Ltd following the termination of a secondary sale agreement. The merger process continues.
Sapphire Foods has terminated the SPA for the previously proposed Secondary Sale Transaction. The merger process with Devyani International Limited continues as planned without this condition.
Sapphire Foods reported that the Income Tax Appellate Tribunal (ITAT) dismissed an appeal by the Income Tax Department, upholding a favourable order for its subsidiary.