Avanti Feeds (512573) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 consolidated income rose to ₹13,658 million, up 9% year-over-year, with PAT up 69% to ₹1,408 million, reflecting strong operational performance.

• Nine-month FY25 consolidated income reached ₹42,271 million, up 3.5% year-over-year, with PAT at ₹3,999 million, driven by higher revenue and lower raw material costs.

• Shrimp feed segment drove growth with a 14% YoY volume increase in Q3 FY25, while processed shrimp revenues remained flat due to offsetting higher prices and FX gains.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, were approved by the Board on February 10, 2025.

• Financials prepared in accordance with Indian Accounting Standards and reviewed by statutory auditors, with no material misstatements identified.

Financial highlights

• Q3 FY25 EBITDA margin improved by 417 bps YoY to 14.6%; PAT margin rose by 366 bps to 10.3%.

• EPS for Q3 FY25 jumped 87% YoY to ₹10 per share; consolidated basic and diluted EPS for the quarter was ₹9.92, up from ₹5.32 year-over-year.

• Operating profits for Q3 FY25 rose 65% YoY to ₹1,603.5 million.

• Feed division Q3 FY25 gross income was ₹10,770 million, up 12% year-over-year but down 4% sequentially; PBT rose 180% year-over-year to ₹900 million.

• Shrimp processing Q3 FY25 gross income was ₹3,280 million, flat year-over-year, but up 15% sequentially; PBT declined to ₹180 million from ₹400 million year-over-year.

Outlook and guidance

• The fisheries sector received a 3.3% higher budget allocation for FY25-26, supporting sustainable growth and competitiveness.

• Expecting stable to slightly higher shrimp production in 2025, with a projected 5% increase over last year.

• Pet food plant in Hyderabad targeted for completion and production by December 2026.

• Fish feed plant trials ongoing; domestic market focus before export plans.