Sapphire Foods IndiaNSE:SAPPHIRE +0.73%76 Altman Z2-Score is 0.32 as of Jul. 05, 2026, which is 64% below its 10-year median of 0.90. GuruFocus rates NSE:SAPPHIRE with a GF Score™ of 76/100 and a GF Value™ of ₹368.80 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 357 Restaurants companies, Sapphire Foods India ranks worse than 63.87% on this metric.
Altman Z2-Score, also known as Z"-Score, is used to predict the likelihood that a non-manufacturing company (excluding property/financial company) will face bankruptcy within a two-year period.
Warning Sign:
Sapphire Foods India has a Altman Z2-Score of 0.32, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
The zones of discrimination were as such:
When Altman Z2-Score <= 1.1, it is in Distress Zones.
When Altman Z2-Score >= 2.6, it is in Safe Zones.
When Altman Z2-Score is between 1.1 and 2.6, it is in Grey Zones.
The historical rank and industry rank for Sapphire Foods India's Altman Z2-Score or its related term are showing as below:
NSE:SAPPHIRE'
s Altman Z2-Score Range Over the Past 10 Years
Min: -1.69 Med: 0.9 Max: 1.05
Current: 0.32
During the past 8 years, Sapphire Foods India's highest Altman Z2-Score was 1.05. The lowest was -1.69. And the median was 0.90.
Sapphire Foods India (NSE:SAPPHIRE) Altman Z2-Score Explanation
The original Z-Score model was based on publicly traded manufacturing companies while the Z2-Score, also known as Z"-score can be used for any type of company excluding property/financial companies. Both Z-Score and Z2-Score describes the financial health of a company, and its likelihood of financial distress.
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
Altman Z2-Score does not apply to financial companies.
Sapphire Foods India Altman Z2-Score Related Terms
Sapphire Foods India Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Sapphire Foods India's Altman Z2-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:SAPPHIRE vs MCD, SBUX, YUM: Altman Z2-Score Comparison
For the Restaurants subindustry, Sapphire Foods India's Altman Z2-Score, along with its competitors' market caps and Altman Z2-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Sapphire Foods India Altman Z2-Score vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Sapphire Foods India's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Sapphire Foods India's Altman Z2-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Z2-Score, also known as Z"-Score is the Z-Score for non-manufacturing companies excluding property/financial companies.
Sapphire Foods India's Altman Z2-Score for today is calculated with this formula:
Z
=
6.56
*
X1
+
3.26
*
X2
+
6.72
*
X3
+
1.05
*
X4_2
=
6.56
*
-0.0612
+
3.26
*
-0.0713
+
6.72
*
0.0263
+
1.05
*
0.7447
=
0.32
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z2-Score when X4_2 value is 0.
Sapphire Foods India (NSE:SAPPHIRE) has a Altman Z2-Score of 0.32 as of Jul. 05, 2026. Z2-Score is the Z-Score for non-manufacturing companies excluding property/financial companies, which measures a company's bankruptcy risk. View historical data on Sapphire Foods India and its competitors. This is 64% below median its historical median of 0.90. According to the industry distribution chart, Sapphire Foods India ranks #228 out of 357 companies in the Restaurants industry, placing it in the top 63.9%.
Is Sapphire Foods India's Altman Z2-Score too high?
Sapphire Foods India's current Altman Z2-Score of 0.32 is 64% below median its 10-year median of 0.90. The Restaurants industry median Altman Z2-Score is 1.29. Sapphire Foods India's value of 0.32 is 75.2% below this industry median. Based on the distribution chart, Sapphire Foods India ranks #228 out of 357 companies in the Restaurants industry, which is below the industry midpoint. Overall, Sapphire Foods India has a GF Score™ of 76/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Sapphire Foods India's Altman Z2-Score compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Sapphire Foods India ranks #228 out of 357 companies for Altman Z2-Score. This places Sapphire Foods India in the lower half of its industry. The industry median Altman Z2-Score is 1.29. Sapphire Foods India's value of 0.32 is 75.2% below this benchmark. While the company's 10-year median is 0.90 vs. the industry median of 1.29, Sapphire Foods India has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z2-Score for a Restaurants company?
The median Altman Z2-Score among Restaurants companies is 1.29, based on 357 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z2-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z2-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sapphire Foods India's current Altman Z2-Score of 0.32 is 75.2% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z2-Score mean?
A high Altman Z2-Score can signal that a stock is expensive relative to its fundamentals. Z2-Score is the Z-Score for non-manufacturing companies excluding property/financial companies, which measures a company's bankruptcy risk. View historical data on Sapphire Foods India and its competitors. For the Restaurants industry, the median Altman Z2-Score is 1.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sapphire Foods India's current Altman Z2-Score is 0.32, which is 64% below median its own 10-year median of 0.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sapphire Foods India stock overvalued right now?
Based on GuruFocus' analysis, Sapphire Foods India (NSE:SAPPHIRE) is currently considered Possible Value Trap. The stock's GF Value™ is ₹368.80, compared to a current price of ₹186.24 — trading 49.5% below its estimated fair value. The current Altman Z2-Score is 0.32, which is 64% below median its 10-year median of 0.90 and 75.2% below the Restaurants industry median of 1.29. Sapphire Foods India's overall GF Score™ is 76/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z2-Score calculated?
Altman Z2-Score is calculated from a company's financial statements. For Sapphire Foods India (NSE:SAPPHIRE), the current Altman Z2-Score is 0.32 as of Jul. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Sapphire Foods India (NSE:SAPPHIRE) Overvalued in 2026?
Based on GuruFocus' analysis, Sapphire Foods India stock appears to be undervalued.
The current stock price of ₹186.24 is trading 49.5% below its estimated GF Value™ of ₹368.80.
GuruFocus considers Sapphire Foods India to be Possible Value Trap.
Key valuation signals for NSE:SAPPHIRE:
Altman Z2-Score: 0.32 (64% below median its 10-year median of 0.90)
GF Value™: ₹368.80 vs. price of ₹186.24 (49.5% below fair value)
Industry Position: 75.2% below the Restaurants median (#228 of 357)
No single metric tells the full story. See the NSE:SAPPHIRE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sapphire Foods India Ltd is a franchisee of Yum! Brands in the Indian subcontinent, with a track record of operating more than four hundred KFC, Pizza Hut, and Taco Bell restaurants across India, Sri Lanka, and the Maldives. Its business activity majorly falls within a single business and geographical segment, which is Food and Beverages. The company generates the majority of its revenue from Restaurant sales. The company also generates a small portion of its revenue from sales to Airport dealers/ franchisees, Scrap sales & others, and Alliance Income.
76GF Score
Get the complete analysis for NSE:SAPPHIRE
Altman Z2-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:SAPPHIRE has been successfully added to your 
