This article first appeared on GuruFocus .
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Consolidated Gross Income (Q4 FY '26):INR1,516 crores, up 4.77% from Q3 FY '26 and 5.86% from Q4 FY '25.
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Consolidated PBT (Q4 FY '26):INR184 crores, down 17.12% from Q3 FY '26 and 12.8% from Q4 FY '25.
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Consolidated Gross Income (FY '26):INR6,279 crores, up 8.9% from FY '25.
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Consolidated PBT (FY '26):INR882 crores, up 20% from FY '25.
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Feed Division Gross Income (Q4 FY '26):INR1,068 crores, up from INR993 crores in Q3 FY '26.
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Feed Division PBT (Q4 FY '26):INR139 crores, down 19% from Q3 FY '26.
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Feed Sales Volume (Q4 FY '26):123,725 MT, up from 118,127 MT in Q3 FY '26.
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Feed Division Gross Income (FY '26):INR4,538 crores, slightly down from INR4,549 crores in FY '25.
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Feed Division PBT (FY '26):INR715 crores, up 8.66% from FY '25.
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Shrimp Processing Gross Income (Q4 FY '26):INR446 crores, up 22% from Q4 FY '25.
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Shrimp Processing PBT (Q4 FY '26):INR48 crores, up from INR18 crores in Q4 FY '25.
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Shrimp Processing Gross Income (FY '26):INR1,741 crores, up 43% from FY '25.
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Shrimp Processing PBT (FY '26):INR178 crores, up from INR86 crores in FY '25.
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Pet Food Sales (Q4 FY '26):INR151 lakhs, up from INR136 lakhs in Q3 FY '26.
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Warning! GuruFocus has detected 2 Warning Signs with BOM:512573.
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Release Date: June 12, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Avanti Feeds Ltd ( BOM:512573 ) reported an 8.9% increase in gross income for FY '26 compared to FY '25, indicating strong revenue growth.
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The company's shrimp exports increased by 2,827 metric tons in FY '26, reflecting a positive trend in export volume.
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The pet food segment under the Avant Furst brand showed promising growth, with sales increasing from INR136 lakhs in Q3 FY '26 to INR151 lakhs in Q4 FY '26.
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The company is expanding its market reach by strengthening its presence in Tier 1 cities and entering Tier 2 and Tier 3 markets.
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Avanti Feeds Ltd ( BOM:512573 ) is focusing on increasing value-added products and expanding into new markets, which could enhance future profitability.
Negative Points
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The profit before tax (PBT) for Q4 FY '26 decreased by 17.12% compared to Q3 FY '26, primarily due to increased raw material costs.
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The feed division experienced a decrease in PBT by 19% in Q4 FY '26 compared to Q3 FY '26, attributed to rising raw material prices.
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The company faces challenges from steep increases in raw material prices, such as fishmeal and soybean meal, impacting profitability.
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Despite growth in shrimp exports, the company anticipates a challenging season for the aquaculture industry due to rising feed raw material prices.
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Avanti Feeds Ltd ( BOM:512573 ) is not planning any major capital expenditures in the next two years, which may limit rapid expansion opportunities.
Q & A Highlights
Q: How is Avanti Feeds planning to address the rising raw material costs in the feed division, and what impact will this have on margins in FY '27? A: C. Ramachandra Rao, Compliance Officer, Joint Managing Director, Company Secretary, stated that the company is preparing to increase feed prices due to rising raw material costs, particularly soybean meal and fishmeal. The exact price increase will be determined based on market acceptability, and they expect to finalize this within a week or ten days. The shrimp culture and export market remain stable, and the company is optimistic about its performance in the current year.
Q: What is the company's outlook on shrimp exports for FY '27, and how does it compare to peers? A: Alluri Nikhilesh, Non-Executive Director, explained that the company expects a 10% to 12% growth in shrimp exports, aiming for around 19,000 metric tons. He emphasized that growth in this industry is incremental and must be built step-by-step, despite favorable market access due to FTAs.
Q: Are there any significant capital expenditures planned for the next two to three years? A: C. Ramachandra Rao confirmed that there are no major capital expenditures planned in the next two years. The focus will be on increasing capacity utilization and expanding the product portfolio, particularly in the pet care segment.
Q: Can you provide an update on the pet care business and its growth prospects? A: A. Venkata Sanjeev, Executive Director, mentioned that the pet care business is expanding, with current capacity increased to 100 tonnes and plans to reach 800 metric tonnes by year-end. The company is expanding its distribution network and product offerings, focusing on brand image until their own production facility is operational.
Q: How is Avanti Feeds handling the US import tariffs and what is the expected refund amount? A: D. V. S. Satyanarayana, CFO of Avanti Frozen Foods, stated that Avanti Frozen Foods is the importer of record in the US and is filing for refunds of reciprocal tariffs. The expected refund amount is estimated to be between $15 million to $20 million.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
