Slides
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1 Corporate Presentation Feb ‘2026
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2 SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sapphire Foods India Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in Restaurant Sales, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.
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3 Table Of Contents Sapphire Foods At A Glance KFC India Pizza Hut India Sri Lanka Business Unit Economics 1 Financial Overview2 Segmental Performance3 ESG4 Management, Board & Shareholding Pattern5 Page 4 - 6 Page 7 -12 Page 14-15 Page 16-17 Page 18 Page 19 Page 20 Page 21-23
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4 Sapphire Foods At A Glance YUM’s Franchisee Operator in India, Sri Lanka & Maldives Sri Lanka’s Largest International QSR Chain (1) ₹ 8,112 MN Q3FY26 Restaurant Sales 16.8% [18.5%] Q3FY26 EBITDA margin ₹1,360 MN [1,398] Q3FY26 EBITDA 1028 Total Restaurants Across India, Sri Lanka and Maldives (2) 556 KFC Restaurants (2) 461 Pizza Hut Restaurants (2) 11 Taco Bell Restaurants (2) 15.3% [17.5%] 9M FY26 EBITDA margin ₹ 3,555 MN [3,792] 9M FY26 EBITDA Omni Channel Mix (3) 4 Source: Company data, Technopak industry report (1) In terms of Restaurant Sales for FY21 and number of restaurants operated as of March 31, 2021; (2) As of Dec 31, 2025; (3) Pertains to Q3FY26 Delivery, 44% Take Away, 23% Dine In, 34%
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5 Journey Of Sapphire Foods Built A Platform Of 1028 Outlets (1) ~ KFC and Pizza Hut Brands Operate in States that cover 56% of GDP (2) KFC and Pizza Hut present in 10 and 11 states of India respectively KFC and Pizza Hut present in 5 and 6 of the Top 8 cities of India respectively Top 8 Cities in India contribute 87% of Chain Food Services Market (3) 24 Cities where 381 restaurants of both KFC and Pizza Hut are operated SRI LANKA INDIA Source: Company data, Technopak Industry Report (1) Sri Lanka + Maldives included 4 restaurants in the previous years. As on 31st Dec 25 all the 4 restaurants are closed. (2) GDP contribution of states In FY19 where Pizza Hut and KFC restaurants are located; (3) In FY20 556 142 339 80 133 80 Restaurant Cities KFC & Pizza Hut KFC Only Pizza Hut only Lanka – Pizza Hut, Taco Bell Maldives Sri Lanka KFC : 19 PH : 16 KFC : 27 PH : 35 KFC : 120 PH : 88 KFC : 11 PH : 4 KFC: 161 PH: 59 8 28 636 28 37 72 1778 PH : 122 TB : 11 KFC : 14 PH : 4 KFC : 0 PH : 0 SAPPHIRE FOODS: GEOGRAPHICAL PRESENCE (1)
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6 The Sapphire Story Two global brands ( KFC & Pizza Hut) with Scale & profitability among Top 3 QSR operators Execution Mindset Great Customer experience along with Superior Back- end operational excellence Optimal capital allocation drives new restaurant expansion model - focus on smaller sized omni- channel restaurants Capability and capital to drive growth VALUE BASED WORK CULTURE, HIGH ON GOVERNANCE ENABLED BY PROFESSIONAL MANAGEMENT, BOARD & PROMOTERS Note: On 1st Jan 2026, the board of directors of Sapphire Foods & Devyani International has approved a merger scheme. The scheme is subject to statutory and regulatory approvals from various authorities.
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77 Financial Overview
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8 Sapphire Foods: 4-Year Scorecard Relentless Execution. Grit. Performance. FY25 Highlights • In a difficult year Sapphire has delivered double digit Rest. count & Revenue growth. EBITDA grew by 4% at 17.1% and Adj. EBITDA declined by 4%. We added 91 restaurants during the year. • Sapphire KFC delivered robust performance with double digit revenue growth of 11% and Rest. EBITDA margin of 17.3%. We achieved a significant milestone of 500 KFC restaurants during the year and thereby doubled the count over last ~3 years. • Sri Lanka business had a very strong turnaround with 14% LKR revenue growth (double digit SSSG & SSTG) & 24% in ₹ terms with healthy Rest. EBITDA margin of 15.4%. • Sapphire Foods is ranked No.1 QSR in India for 2nd consecutive year on the Dow Jones Sustainability Index (DJSI). It was placed 7th amongst all QSRs globally at 97th percentile. • At the Yum Global Franchise Convention in Apr’25, Sapphire Foods was recognized as: - World’s Best KFC Franchisee - World’s Top 4 Pizza Hut Franchisee - World’s Best Pizza Hut Franchisee for People Practices (Sri Lanka business) Restaurant Sales ₹ Mn 30% Adj. EBITDA ₹ Mn / % 62% Adj. PAT ₹ Mn# / % NA 437 579 743 872 963 FY21 FY22 FY23 FY24 FY25 28% 33% 17% No. of Restaurants 4-Year CAGR 22% 10% 10,160 17,154 22,571 25,880 28,754 FY21 FY22 FY23 FY24 FY25 32%69% 15% 11% 382 1,615 2,647 2,717 2,616 FY21 FY22 FY23 FY24 FY25 323% 64% 3% -4% 3.8% 9.4%* 11.7% 10.5% 9.1% -840 457 1,402 786 557 FY21 FY22 FY23 FY24 FY25 *-8.3% 2.7% 6.2% 3.0% 1.9%207% -44% -29% Adj, EBITDA is before is before Ind-AS 116 adjustments * Adj EBITDA & EBITDA for FY22 have been normalized for additional incentive from Yum accrued in that year
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9 Summary Consolidated Financials Q3 FY26 #Adj. EBITDA and Adj. PBT is before Ind-AS 116 adjustments *Adj. PBT & PBT of Q3 FY26, 9MFY26, 9MFY25 and FY25 are before the exceptional items of ₹112 Mn, ₹ 112 Mn, ₹114 Mn and ₹153 Mn respectively Particulars Q3 FY26 Q3FY25 ▲/▼ YoY 9M FY26 9M FY25 ▲/▼ YoY FY25 Restaurant Sales Mn 8,112 7,550 ▲7% 23,261 21,655 ▲7% 28,754 Adj. EBITDA ₹ Mn 774 811 ▼5% 1,772 2,109 ▼16% 2,616 % 9.5% 10.7% ▼120 bps 7.6% 9.7% ▼210 bps 9.1% EBITDA Mn 1,360 1,398 ▼3% 3,555 3,792 ▼6% 4,925 % 16.8% 18.5% ▼170 bps 15.3% 17.5% ▼220 bps 17.1% Adj. PBT Mn* 238 255 ▼7% 278 637 ▼56% 699 % 2.9% 3.4% ▼50 bps 1.2% 2.9% ▼170 bps 2.4% PBT Mn* 78 168 ▼54% -106 340 ▼131% 384 % 1.0% 2.2% ▼120 bps -0.5% 1.6% ▼210 bps 1.3% Restaurant Additions(Net) 31 54 65 91 91
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10 Operational & Financial Overview
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11 KEY INITIATIVES Zero-based cost budgeting leading to permanent cost reduction PACE SETTER program for benchmarking cost amongst restaurants Optimization of restaurant size Increase in revenue from Delivery from 21% in FY19 to 44% in Q3FY26 # Restaurant EBITDA is before Ind-AS 116 adjustments *FY22 excludes additional incentives of 1.1% Profitability Overview
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12 KEY INITIATIVES Zero-based cost budgeting leading to permanent cost reduction PACE SETTER program for benchmarking cost amongst restaurants Optimization of restaurant size Increase in revenue from Delivery from 21% in FY19 to 44% in Q3FY26 # Restaurant EBITDA is before Ind-AS 116 adjustments *FY22 excludes additional incentives of 1.1% Profitability Overview
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1313 Brand Wise Performance
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14 KFC Brand Priorities Craveable Taste Launch of global “Saucy” concept in Dunked in Jan’26 Value Mass media Advertising to attract new customers through ₹99/- Krisper Chicken Burger Meal Frictionless Customer Experience Digital Kiosks rolled across 70% estate Own Delivery continues to deliver healthy growth Drive Penetration and Frequency for KFC Pilot initiated for ₹99/- Krisper Chicken Burger Meal in DineIn Takeaway channels in ~ 25% stores Improve Accessibility Continue current pace of expansion (60-80 stores per year) Operational Excellence > 4.0 ratings across Swiggy, Zomato & Google
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15 Core Composition Of Our Business: KFC India As of Mar 31, 2023 /For FY23 As of Mar 31, 2024 /For FY24 As of Mar 31, 2025 /For FY25 As of Dec 31, 2025 /For 9M FY26 Total Restaurant Count 341 429 502 556 Average Daily Sales per Restaurant (INR‘000s) 135 125 114 110 Restaurant Related Revenue (in INR mm) 14,529 17,157 19,039 15,641 Restaurant EBITDA (in %) 19.4% 19.7% 17.3% 16.2% Net restaurant additions of 54 in 9MFY26 170 bps Y-O-Y 10% Y-O-Y Source: Company data
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16 Pizza Hut Brand Priorities Differentiated Dine-In Experience (like Casual Dine-In Restaurants) Hot n Fresh Delivery Experience Competitive Value for money Taste Superiority through Pizza & sides innovation Cautious store expansion (~1000/1200 sqft. stores) Mass media advertising to drive consumer awareness & consideration Actions: - Ultimate cheese Pizza and Cheesy Pocket launched in Oct’25 - New Crafted Flatzz launched in Jan’26 Actions: - Dine-In speed of service metrics continue to improve Actions: - Google, Swiggy & Zomato average ratings across the network >= 4.0 Actions: - Exclusive Value offerings on Dine-In (Buy1 Get3, 4 course Meal starting ₹99/-, Unlimited Pizza Fridays) Actions: - No expansion in CY25 Actions: - Tamil Nadu continues to deliver double digit delta performance w.r.t. SSSG% & Rest. EBITDA%
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17 Core Composition Of Our Business: Pizza Hut India As of Mar 31, 2023 /For FY23 As of Mar 31, 2024 /For FY24 As of Mar 31, 2025 /For FY25 As of Dec 31, 2025 /For 9M FY26 Total Restaurant Count 286 319 334 339 Average Daily Sales per Restaurant (INR‘000s) 58 46 46 42 Restaurant Related Revenue (in INR mm) 5,214 5,185 5,450 3,891 Restaurant EBITDA (in %) 13.3% 4.9% 2.4% -2.4% Net restaurant additions of 5 in 9MFY26 690 bps Y-O-Y 7% Y-O-Y Source: Company data
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18 Core Composition Of Our Business: Sri Lanka Operations As of Mar 31, 2023 /For FY23 As of Mar 31, 2024 /For FY24 As of Mar 31, 2025 /For FY25 As of Dec 31, 2025 /For 9M FY26 Total Restaurant Count 116 124 127 133 Average Daily Sales per Restaurant (INR‘000s) 72 79 95 109 Restaurant Related Revenue (in INR mm) 2,716 3,397 4.228 3,770 Restaurant EBITDA (in %) 14.8% 13.7% 15.4% 15.0% Net restaurant additions of 6 in 9MFY26 Y-O-Y 19% (INR) 16% (LKR) Source: Company data Y-O-Y 60 bps
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19 Unit Economics Avg Size of Restaurant (in Sq. ft.) 2,736 As of 31-Mar-19 ~ 1,500 Reduction in Avg Restaurant size ~45% Current 2,427 As of 31-Mar-19 ~ 1,200 Reduction in Avg Restaurant size ~45% Current Average Daily Sales per Restaurant (in ₹’000) 125 FY19 61 FY19 46 46125 FY24 114 FY25 FY24 FY25 Restaurant EBITDA % 12.7% FY19 7.5% FY19 4.9% 2.4%19.4% 17.3% FY24 FY25 FY24 FY25 In Pizza Hut 1,000 Sq.ft. restaurants rolled out for densification. We expect this will be around 10-15% of our new restaurants going forward KFC PIZZA HUT
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20 ESG
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21 Management Team Right People In Key Seats Deepak Taluja CEO – KFC Ashu Khanna Head Supply Chain Amar Patel Chief Tech Officer Priya Adiseshan Chief People Officer Nandita Bapat Chief Development Officer Vikrant Vohra CEO – Pizza Hut Niraj Patil Head Legal and Liaison Management Team With Diverse Experience Source: Company data Vijay Jain Executive Director, CFO
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22 Board Of Directors Sunil Chandiramani Chairman and Independent Director Annu Aggarwal Independent Director Vinod Nambiar Non-Executive Nominee Director Deepa Wadhwa Independent Director Sumeet Narang Non-Executive Nominee Director Sanjay Purohit Whole Time Director and Group CEO Kabir Thakur Non-Executive Nominee Director Our Directors Source: Company data INTERNAL AUDIT STATUTORY AUDIT ESG Protiviti Deloitte Assisted by PWC Vijay Jain Executive Director, CFO Kushal Agarwal Non-Executive Nominee Director
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23 Shareholding Pattern Shareholding Pattern (As on 31st Dec 2025) % Holding Foreign Portfolio Investors / Non-Resident Indians Domestic – Mutual Funds Insurance Companies AIF, Resident Individuals & Others Promoters & Promoter Group Total Source: Company data 26.1 29.4 9.2 35.3 100.0
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24 Thank You Sapphire Foods India Limited CIN: L55204MH2009PLC197005 702, Prism Tower, A-Wing, Mindspace, Link Road, Goregaon (West), Mumbai - 400062. India kaushik.vankadkar@sapphirefoods.in www.sapphirefoods.in Investor Relations Partner: Vogabe Advisors Private Limited Ms. Himani Singla sapphirefoods@vogabe.com +91 9569926021 | www.vogabe.com