ECONOMY

Apex Frozen Foods – Reopening Of Markets Provides A Positive Sign: Geojit

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Apex Frozen Foods Ltd. is an integrated producer and exporter of processed shrimps in Andhra Pradesh with own capacity of 29,240 million tonnes.

We are positive on the company due to gradual recovery in volumes, improving outlook and attractive valuation.

Q4 FY21 revenue grew by 29% YoY (up 16% QoQ and down 1% YoY for FY21) supported by recovery in volumes and firm shrimp realisation.

Ebitda grew by 42% YoY and Ebitda margin improved by 90 basis points YoY to 10.4% supported by volumes and better product mix despite reduction in export incentive.

Margins are likely to improve further on the back of higher contribution from ready-to-eat products.

Click on the attachment to read the full report:

Geojit Apex Frozen Foods Q4FY21 Result Update.pdf

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