Geojit: Apex Frozen Foods Posts Better Than Expected Volumes Amid Challenges

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Geojit Research Report.Apex Frozen Foods Ltd. is an integrated producer and exporter of processed shrimps in Andhra Pradesh with an own capacity of 29,240 metric tonne.Q1 FY21 revenue de-grew by 1.6% YoY. Better realization and rupee depreciation offset the impact of 11.4%YoY decline in volumes.Ebitda grew by 51.6% YoY mainly aided by 620 basis points increase in gross margin due to better realisation and reduction in raw material cost.The Company has recently got all the required approvals for its newly added capacity of 20,000 metric tonne and ramp up in utilization will aid future growth.We increase our volume assumptions to factor gradual improvement in industry supply-chain while appreciation in rupee will impact realisation.Expect revenue/profit after tax to grow at 15%/28% compound annual growth rate over FY20E-FY22E.Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Geojit: Apex Frozen Foods Posts Better Than Expected Volumes Amid Challenges

Geojit: Apex Frozen Foods Posts Better Than Expected Volumes Amid Challenges

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