Q1 2025 Apex Frozen Foods Ltd Earnings Call Transcript
Key Points
- Net revenue for Q1 FY25 increased to INR186 crore from INR162 crore in Q4 FY24.
- EBITDA margin improved to 6% year-on-year and quarter-on-quarter.
- Profit after tax grew 4% year-on-year from a loss of INR4 million quarter-on-quarter.
- Shrimp volumes sold increased to 2,571 metric tons in Q1 FY25 from 2,302 metric tons in Q4 FY24.
- The share of the EU in the overall sales mix increased to 39% in Q1 FY25 from 18% in Q1 FY24, indicating a more diversified sales mix.
- Net revenue decreased from INR254 crore in Q1 FY24 to INR186 crore in Q1 FY25.
- The US market demand remains weak, compounded by countervailing duties and geopolitical tensions.
- Increased freight costs and extended shipping times due to logistical challenges.
- Pending regulatory approvals for high value-added ready-to-eat products in the EU market.
- Farm gate prices have increased significantly due to supply constraints, impacting margins.
Ladies and gentlemen, good day, and welcome to the Apex Frozen Foods Limited Q1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. We have with us today from the management of Apex Frozen Foods Limited, Mr. Chowdary Karuturi, Managing Director and CFO; and Mr. Durga Prasad from Finance team along with the seller as IR advisors.
The management will be sharing key updates and financial highlights for the quarter ended June 30, 2024, which will be followed by a question-and-answer session.
Please note this call may contain some of the forward-looking statements, which are completely based upon our beliefs, opinions and expectations as of today. These statements are not a guarantee of our future performance and involve unforeseen risks and uncertainties.
The company also undertakes no obligation to update any forward-looking statement to reflect developments that occur after a statement is made. Documents relating to the company's financial performance are available on the website of the stock exchange, just you have been able
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