Avanti Feeds Ltd (BOM:512573)
₹ 580.55 6.85 (1.19%) Market Cap: 79.10 Bil Enterprise Value: 64.95 Bil PE Ratio: 20.62 PB Ratio: 3.31 GF Score: 92/100
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Q3 2024 Avanti Feeds Ltd Earnings Call Transcript

Feb 14, 2024 / 10:30AM GMT
Release Date Price: ₹509.05 (+2.90%)

Key Points

Positve
  • Gross income for Q3 FY24 increased by 13.7% year-on-year, reaching INR1,287 crore.
  • PBT for Q3 FY24 rose by 21% compared to Q3 FY23, indicating improved profitability.
  • The shrimp processing and export division saw a 30% increase in gross income in Q3 FY24 compared to Q2 FY24.
  • The company is set to commence commercial production at a new shrimp processing plant in March 2024, which is expected to boost capacity.
  • Avanti Feeds Ltd (BOM:512573) is focusing on value-added products, which are expected to enhance profitability and market competitiveness.
Negative
  • Gross income for Q3 FY24 decreased by 1.9% compared to the previous quarter, Q2 FY24.
  • The feed division saw a decrease in gross income by INR106 crore in Q3 FY24 compared to Q2 FY24, mainly due to seasonal changes.
  • Raw material costs remain high, with fish meal prices continuing to be elevated due to export demand.
  • The shrimp processing and export division experienced an 8.7% decline in export value in FY23 compared to FY22.
  • The EBITDA margins have not improved significantly despite higher shrimp processing revenue and stable raw material prices.
Operator

Good evening ladies and gentlemen. I am Soumya, moderator for the conference call. Welcome to Avanti Feeds Limited Q3 and nine months FY24 earnings conference call. We have with us today, Mr. C. Ramachandra Rao, Joint Managing Director; Mr. A. Venkata Sanjeev, Executive Director; Mr. Alluri Nikhilesh, Executive Director of Avanti Frozen Foods Private Limited; Mrs. Santhi Latha, GM of Finance and Accounts; Ms. Lakshmi Sharma, Senior Manager; and Mr. D.V.S. Satyanarayana, CFO of Avanti Frozen Foods Private Limited.

(Operator Instructions) Please note this conference is recorded. I would now like to hand over the floor to Mr. C. Ramachandra Rao, Joint Managing Director. Thank you, and over to you, sir.

C. Ramachandra Rao
Avanti Feeds Ltd - Chief Financial Officer, Chief Compliance Officer, Joint Managing Director, Company Secretary

Thank you, Soumya. Good evening ladies and gentlemen. I'm pleased to extend a warm welcome to all of you for this investors conference call to review the unaudited financial results for the Q3 FY24. Along with me here are Mr.

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