Avanti Feeds (512573) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 consolidated revenue grew 6.9% year-over-year to ₹16,064 million, driven by strong shrimp processing and feed sales.

• Profit after tax increased 35% year-over-year to ₹1,857 million, with EPS rising to ₹13.1 per share.

• Feed division and shrimp processing benefited from higher sales volumes, favorable forex rates, and new product launches.

• Pet food business expanded with new products and market reach.

• Unaudited financial results for Q1 FY26 were approved by the Board, with no material misstatements found by auditors.

Financial highlights

• Q1 FY26 consolidated revenue from operations was ₹160,636.16 lakhs, up from ₹138,214.11 lakhs in Q1 FY25.

• EBITDA for Q1 FY26 was ₹2,653 million, with margins improving from 13% to 17% year-over-year.

• Profit before tax increased 18% sequentially and 38% year-over-year to INR 249 crore.

• Shrimp feed segment revenue was ₹123,144.66 lakhs, and processed shrimp segment revenue was ₹37,115.64 lakhs in Q1 FY26.

• Basic and diluted consolidated EPS for Q1 FY26 was ₹13.09, up from ₹11.14 in Q1 FY25.

Outlook and guidance

• FY26 feed sales expected at 560,000 metric tons, with shrimp exports estimated at 17,000 metric tons.

• Management expects continued robust growth in shrimp processing, supported by strong volume growth, higher average selling prices, and favorable forex rates.

• Short-term impact from U.S. tariffs seen as limited, with more significant effects possible in Q4 if tariffs persist.

• Company is diversifying export markets and focusing on domestic sales to mitigate U.S. exposure.

• Previous period figures have been regrouped/reclassified for comparability.