Apex Frozen Foods Ltd

Apex Frozen Foods is one of the integrated producer and exporter of shelf stable quality aquaculture products.

Pros:
Company has good consistent profit growth of 35.32% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 26.33%
Cons:
The company has delivered a poor growth of 11.21% over past five years.
Company might be capitalizing the interest cost

Peer Comparison Sector: Miscellaneous // Industry: Aquaculture

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Quarterly Results Figures in Rs. Crores

Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
164 248 285 263 203 239 256 216 164 222
151 223 254 233 178 207 231 198 149 210
Operating Profit 13 25 31 30 25 32 25 18 15 12
OPM % 8% 10% 11% 11% 12% 13% 10% 8% 9% 6%
Other Income 4 6 7 4 3 5 9 5 3 4
Interest 2 3 3 2 1 2 2 1 2 2
Depreciation 1 2 2 2 2 3 3 3 3 3
Profit before tax 14 26 33 30 24 33 29 19 13 12
Tax % 49% 35% 33% 37% 27% 35% 32% 39% 37% 29%
Net Profit 7 17 22 19 18 21 20 11 8 8
EPS in Rs 7.27 6.02 5.60 6.78 6.35 3.63 2.69 2.66
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
255 514 599 604 699 999 875 857
233 482 566 563 654 889 785 788
Operating Profit 22 33 33 40 44 110 90 70
OPM % 9% 6% 6% 7% 6% 11% 10% 8%
Other Income 0 0 5 5 11 20 21 21
Interest 6 8 10 10 11 9 7 7
Depreciation 3 5 0 5 6 9 11 11
Profit before tax 14 20 28 30 37 113 94 73
Tax % 34% 34% 34% 35% 33% 30% 35%
Net Profit 9 13 18 19 25 79 61 48
EPS in Rs 25.31 19.45 15.33
Dividend Payout % 0% 0% 0% 0% 0% 8% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:11.21%
3 Years:13.17%
TTM:-13.43%
Compounded Profit Growth
10 Years:%
5 Years:35.32%
3 Years:46.67%
TTM:-39.82%
Return on Equity
10 Years:%
5 Years:27.40%
3 Years:26.33%
Last Year:18.50%

Balance Sheet Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
15 20 24 24 24 31 31
Reserves 9 18 32 51 85 271 324
Borrowings 63 79 90 79 110 85 108
7 24 19 24 57 43 47
Total Liabilities 94 141 165 179 277 431 510
26 40 52 55 83 111 115
CWIP 0 0 0 8 1 21 116
Investments 0 0 0 0 0 0 0
68 101 113 116 193 299 279
Total Assets 94 141 165 179 277 431 510

Cash Flows Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-11 9 12 37 14 33 49
-9 -17 -12 -16 -29 -58 -114
19 8 -0 -21 17 85 7
Net Cash Flow -1 0 0 0 3 60 -58

Ratios Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 28% 29% 27% 26% 40% 24%
Debtor Days 52 24 31 25 43 25 39
Inventory Turnover 14.21 11.89 10.98 11.32 12.07 8.42