Avanti Feeds LimitedAgriculture & AlliedAVANTIFEED
Q1 FY27 concall · earnings callAvanti Feeds Limited
Avanti Feeds delivered a mixed quarter with a significant year-on-year increase in PBT for its shrimp processing division but faces margin pressure in its core feed business due to a steep rise in raw material costs and volatile farm-gate prices.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Gross Income (Shrimp Processing) | ₹350 Cr | -22% | |
| PBT before exceptional items (Shrimp Processing) | ₹45 Cr | +80% | |
| Pet Food Sales | ₹1.8 Cr | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹1,365.77 Cr+9% YoY+0.8% QoQ | ₹140.81 Cr+69% YoY+15.9% QoQ | ₹9.92+86.5% YoY+18.9% QoQ |
| Q2 FY25 | ₹1,355.09 Cr+6% YoY-10% QoQ | ₹121.48 Cr+46.8% YoY-11.7% QoQ | ₹8.34+53% YoY-11.4% QoQ |
| Q1 FY25 | ₹1,506.27 Cr-3.1% YoY+17.4% QoQ | ₹137.57 Cr+19.5% YoY+22.2% QoQ | ₹9.41+20.5% YoY+23.2% QoQ |
| Q4 FY24 | ₹1,283.51 Cr+17.4% YoY+2.4% QoQ | ₹112.60 Cr+11% YoY+35.2% QoQ | ₹7.64+11.5% YoY+43.6% QoQ |
| Q3 FY24 | ₹1,253.23 Cr+13.7% YoY-2% QoQ | ₹83.31 Cr+18% YoY+0.7% QoQ | ₹5.32+16.2% YoY-2.4% QoQ |
TL;DR
- Shrimp processing gross income fell 22% sequentially and 7% YoY, but PBT rose 80% YoY to INR 45 crore.
- Feed volumes grew 17% YoY, but a 10% price hike was taken in June to counter soaring raw material costs.
- Pet food sales grew to INR 180 lakh in Q1, and a new manufacturing facility is planned with an estimated total investment of INR 175 crore.
- Management highlighted significant stress in the aquaculture industry due to rising feed costs and called for policy support and integrated value chain management.
- The refund of U.S. reciprocal tariffs is pending as the relevant entries are under suspension.
Said on the call
“The aquaculture industry, one of the most promising sectors contributing to India's export earnings, is also currently under considerable stress.”
From the Q&A
| Topic | What management said |
|---|---|
| Feed Price Hikes | Management confirmed a 10% price hike was taken on June 19th, and further hikes are a complex balance between farmer affordability, industry sustainability, and government oversight. |
| Raw Material Cost Pressure | Prices of fish meal, soybean meal, and wheat flour have increased 'phenomenally', pressuring margins; the company is working on formulations and quality to mitigate usage, while stakeholders and the government seek a price stabilization mechanism. |
| U.S. Reciprocal Tariff Refund | The refund is pending as the relevant entries are under suspension for ADD and CVD review; the company has declared the entry but CBP will not process it until the suspension is lifted. |
| Pet Food Project Capex | Total estimated investment for the pet food manufacturing facility is INR 175 crores; INR 25 crores has been spent on land purchase, and construction awaits necessary approvals. |
Guidance
- Aspiration of around 5.85 lakh MT of feed in FY27.
- Construction of the pet food manufacturing facility will commence upon receipt of necessary approvals.
- The company is planning to expand its pet food product portfolio by introducing new flavors and variants.
Source
Summary written from the transcript filed by Avanti Feeds Limited for the call held on 27 Aug 2026; published 1 Sept 2026, 16:27 IST.
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