Apex Frozen Foods Ltd: Value Pick Stock June 2019, Update
Update
Q1 FY 2022-23 Earnings
Apex Frozen Foods Limited – one of the integrated producers and exporters of processed ready-to-cook shrimp in India has presented its Q1 FY2022-23 numbers today. Here are the details –
Read: apex frozen foods ipo details
REVENUE
At the operational level, Apex Frozen Foods has registered revenue of INR 305.82 Cr for the Q1 ended 30 June 2022 as compared to INR 220.31 Cr for the same period last year, registering a growth of 38.81% year-on-year basis,
However, the quarter-on-quarter revenue (31 March 2022) of the company stood at INR 198.31 Cr, registering a growth of 54.21%
EXPENSES
Total Expenses of the Company –
INR 300.25 Cr as on 30 June 2022,
INR 224.12 Cr as on 30 June 2021,
INR 199.32 Cr as on 31 March 2022
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PAT
The Company has registered a profit after tax of INR 18.55 Cr for the Q1 ended 30 June 2022 as compared to INR 3.29 Cr for the same period last year, surging by 464% year-on-year basis on the back of healthy demand.
While on a quarter-on-quarter basis, the company has registered a PAT of INR 7.30 Cr, healthy growth of 154%
EPS (Basic) stood as follows –
INR 5.94 as on 30 June 2022,
INR 2.34 as on 30 June 2021,
INR 1.05 as on 31 March 2022
Daily Chart –
apex frozen foods share closed at INR 321 (DOWN 1.95%) on Friday with a volume of 60,820 on the NSE.
The shares of Apex Frozen Foods Limited are currently trading at 26% below when compared to its 52-week high of INR 435.
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13 November 2019
Update:
Q2 FY 2019-20 Numbers
Apex Frozen Foods Limited, a producer and exporter of shelf stable quality aquaculture products has posted its Q2 results today. Here are standalone quarterly numbers –
Net Sales at INR 269.35 Cr in September 2019 up 5.40% year-on-year basis from INR 255.54 Cr in September 2018. Quarter-on-Quarter revenues grew by 21.40% (INR 221.87 Cr for June 2019)
Quarterly Net Profit at INR 21.92 Crore in September 2019 up 164% quarter-on-quarter basis from INR 8.32 Crore in June 2019. Year-On-Year profit up by 10.54% (INR 19.83 Crore for September 2018)
Read: METROPOLIS HEALTHCARE LTD Q2 Numbers
The Company EPS has increased to Rs. 7.02 in September 2019 from Rs. 2.65 in June 2019.
Apex Frozen Foods is currently trading at INR 301.50 on November 13, 2019 (NSE) and is trading above its 200 EMA (270.35) and above its 50 EMA (242.20)
6 June, 2019
Apex Frozen Foods Limited is one of the integrated producer and exporter of shelf stable quality aquaculture products in India.
Apex Frozen Foods – History
Apex Frozen Foods Limited was originally formed as partnership on October 24, 1995 under the name Apex Exports.
The firm leased a shrimp processing facility and commenced operations in the year 1995. Later in the year 2004, Apex Exports set up its own shrimp processing facility.
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Business
Apex Frozen Foods supply its ready-to-cook products to a diversified customer base consisting of food companies, retail chains, restaurants, club stores and distributors spread across the developed markets of USA, UK and various European countries.
The Company strategically focuses on the market of USA, which is the largest importer of aquaculture products in the world.
Products
apex frozen foods products comprises of two kinds of shrimps namely the Whiteleg shrimp (Litopenaeus vannamei) and the Black Tiger Shrimp (Penaeus monodon)
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Whiteleg shrimp (Litopenaeus vannamei), also known as Pacific white shrimp, is a variety of prawn commonly caught or farmed for food. In Litopenaeus vannamei, the company process different types of raw shrimp like (a) Head On, Whole Shrimp, (b) Headless, Shell-on, Shrimp, (c) Easy Peel Shrimp, (d) Peeled, Deveined, Tail-on Shrimp, (e) Peeled Un-deveined, Tail-on Shrimp, (f) Peeled, Deveined, Tail-off Shrimp, (g) Peeled, Un-deveined Shrimp, (h) Peeled Vein Peeled and Deveined Shrimp, (i) Butterfly Shrimp, (j) Skewered Shrimp
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Black Tiger Shrimp (Penaeus monodon), also known as giant tiger prawn or Asian tiger prawn, is a variety of prawn commonly caught or farmed for food.
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Processing Facility
The Company’s processing facility is located at Kakinada, Andhra Pradesh with a capacity to process approximately over 9,240 MTPA of finished products.
Awards
2015: Received a certificate of recognition- three star export house from Directorate General of Foreign Trade, Visakhapatnam, Ministry of Commerce & Industry, Government of India.
2008: Received “Best Aquaculture Practices” certificate from Accreditation Committee of Aquaculture Certification Counsel Inc.
2007: Received Certification for Global Standard for Food Safety for Shrimp processing by SGS United Kingdom
Received Hazard Analysis and Critical Control Point for shrimp processing by SGS India Private Limited
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Listed On
apex frozen foods share are presently listed at Bombay Stock Exchange (BSE); CODE 540692 and National Stock Exchange (NSE) as APEX
Stock Info – Apex Frozen Foods
Share Holding Pattern
Financials – Apex Frozen Foods Ltd
Conclusion
Apex Frozen Foods Limited is a fully integrated company with presence across the value chain – Hatchery, Farming, Processing and Exporting of Shrimp.
The company is promoted by Karuturi Satyanarayana Murthy and Karuturi Subrahmanya Chowdary. For over two decades, promoters of the company have been associated with aquaculture business in Andhra Pradesh.
Promoters of the company are having steady stake (more than 72%) since last 4 quarters with zero percent pledge shares.
Along with this, some of the top funds like Invesco India Contra Fund, Reliance Small Cap Fund, and Dinero Wealth Private Limited is having more than 1% stake in the company.
apex frozen foods ipo came with a price of INR 175 per share. The share price hit an all time high of INR 939 with in a few months and since then trading well below its 50 and 200 EMA.
Keeping the above listed points in mind, Apex Frozen Foods Limited looks good at INR 285. Finblab recommends investing in the stock in staggered manner for medium to long term.
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