Apex Frozen Foods Ltd

Apex Frozen Food Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Apex Frozen Foods Ltd

₹ 215 -1.36%
24 Apr 4:11 p.m.
apexfrozenfoods.in BSE: 540692 NSE : APEX
About

Apex Frozen Foods is an integrated producer and exporter of shelf stable quality aquaculture products.
Apex Frozen Foods Ltd, one of the leading producers and exporters of processed shrimp began its operations in 1995 [1] The company’s operations comprise hatchery, farming, pre-processing, processing, and exporting of shelf-stable quality aquaculture products like shrimp. [2]

Key Points

Product
The company produces variants of processed White shrimp (L. Vannamei) and Black Tiger shrimp (P. Monodon). These are primarily sold under the brands owned by the customers and through its own brands namely Bay Fresh, Bay Harvest, and Bay Premium.
Co. also manufactures ready-to-eat shrimp products. The share of the revenue from this segment has increased to 20% as of FY 22.
[1]

Website BSE NSE
  • Market Cap ₹ 671 Cr.
  • Current Price ₹ 215
  • High / Low ₹ 286 / 171
  • Stock P/E 61.3
  • Book Value ₹ 161
  • Dividend Yield 1.16 %
  • ROCE 10.6 %
  • ROE 7.40 %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 18.3%
  • Debtor days have improved from 52.4 to 38.2 days.
  • Company's working capital requirements have reduced from 131 days to 104 days

Cons

  • The company has delivered a poor sales growth of 1.40% over past five years.
  • Company has a low return on equity of 8.94% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Miscellaneous Industry: Aquaculture

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
156.07 181.91 222.82 263.58 217.51 209.25 305.82 292.80 230.52 211.86 253.84 240.52 148.10
145.29 162.92 213.76 232.91 200.21 190.88 290.29 280.68 212.09 204.21 240.94 221.96 139.65
Operating Profit 10.78 18.99 9.06 30.67 17.30 18.37 15.53 12.12 18.43 7.65 12.90 18.56 8.45
OPM % 6.91% 10.44% 4.07% 11.64% 7.95% 8.78% 5.08% 4.14% 7.99% 3.61% 5.08% 7.72% 5.71%
1.10 2.23 4.69 8.78 2.80 0.43 19.22 16.28 0.15 -4.62 0.18 0.99 0.52
Interest 3.98 4.40 4.46 5.10 3.93 3.89 4.83 4.78 3.04 2.06 2.81 2.92 1.93
Depreciation 4.72 4.95 4.59 4.67 4.70 4.56 5.13 5.23 5.18 3.88 5.17 5.28 3.45
Profit before tax 3.18 11.87 4.70 29.68 11.47 10.35 24.79 18.39 10.36 -2.91 5.10 11.35 3.59
Tax % 29.25% 29.57% 30.00% 25.77% 26.33% 29.47% 25.17% 26.10% 25.10% -38.14% 28.43% 26.52% 17.27%
2.25 8.37 3.29 22.03 8.45 7.31 18.55 13.59 7.75 -4.02 3.65 8.34 2.97
EPS in Rs 0.72 2.68 1.05 7.05 2.70 2.34 5.94 4.35 2.48 -1.29 1.17 2.67 0.95
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
255 514 599 604 699 999 875 827 818 926 1,070 854
233 482 566 563 654 889 785 740 728 840 987 807
Operating Profit 22 33 33 40 44 110 90 87 91 86 83 48
OPM % 9% 6% 5% 7% 6% 11% 10% 11% 11% 9% 8% 6%
0 0 5 5 11 20 21 19 8 6 2 -3
Interest 6 8 10 10 11 9 7 11 16 17 15 10
Depreciation 3 5 0 5 6 9 11 15 22 19 19 18
Profit before tax 14 20 28 30 37 113 94 81 61 56 51 17
Tax % 34% 34% 34% 35% 33% 30% 35% 25% 27% 27% 29%
9 13 18 19 25 79 61 61 44 41 36 11
EPS in Rs 6.28 6.71 7.65 8.03 10.47 25.31 19.46 19.40 14.17 13.14 11.48 3.50
Dividend Payout % 0% 0% 0% 0% 10% 8% 10% 0% 14% 19% 22%
Compounded Sales Growth
10 Years: 15%
5 Years: 1%
3 Years: 9%
TTM: -18%
Compounded Profit Growth
10 Years: 14%
5 Years: -15%
3 Years: -16%
TTM: -77%
Stock Price CAGR
10 Years: %
5 Years: -7%
3 Years: 0%
1 Year: 9%
Return on Equity
10 Years: 16%
5 Years: 12%
3 Years: 9%
Last Year: 7%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 15 20 24 24 24 31 31 31 31 31 31 31
Reserves 9 18 32 51 85 271 324 365 409 437 459 471
63 79 90 79 110 85 108 163 168 167 91 83
7 24 19 24 57 43 47 68 49 42 33 38
Total Liabilities 94 141 165 179 277 431 510 627 657 678 614 623
26 40 52 55 83 111 115 280 250 236 242 257
CWIP 0 0 0 8 1 21 116 3 15 22 18 1
Investments 0 0 0 0 0 0 0 0 0 0 0 0
68 101 113 116 193 299 279 344 391 420 354 365
Total Assets 94 141 165 179 277 431 510 627 657 678 614 623

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-11 9 12 37 14 33 49 58 13 36 121
-9 -17 -12 -16 -29 -58 -114 -44 -14 -10 -22
19 8 -0 -21 17 85 7 -14 4 -27 -99
Net Cash Flow -1 0 0 0 3 60 -58 1 3 -2 1

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 52 24 31 25 43 25 39 35 67 52 38
Inventory Days 44 47 39 48 44 53 67 117 106 120 89
Days Payable 11 15 9 13 21 14 20 29 20 12 8
Cash Conversion Cycle 85 56 60 60 66 64 86 123 154 160 118
Working Capital Days 80 52 55 52 69 66 87 113 145 145 104
ROCE % 28% 29% 27% 26% 40% 24% 18% 13% 12% 11%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62%
0.00% 0.11% 0.10% 0.06% 0.07% 0.06% 0.02% 0.10% 0.02% 0.02% 0.03% 0.00%
5.69% 7.53% 6.73% 6.89% 7.28% 7.28% 6.30% 5.90% 4.51% 0.08% 0.00% 0.05%
21.69% 19.74% 20.55% 20.43% 20.03% 20.04% 21.05% 21.37% 22.85% 27.27% 27.35% 27.32%
No. of Shareholders 39,24540,73740,73839,36238,18736,55137,63337,89938,28840,28538,94742,155

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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