Avanti Feeds Ltd

₹ 392 0.82%
06 Feb - close price
avantifeeds.com BSE: 512573 NSE : AVANTIFEED
About

Avanti Feeds is a leading provider of high quality shrimp feed, best technical support to the farmer and caters to the quality standards of global shrimp customers.[1]

Key Points

Shrimp Feed Business (78% of revenues)[1]
The company is the largest producer of shrimp feed in India with a market share of ~45% in the domestic feed business.[2]
It sold ~485,000 Tonnes of shrimp feed in FY20 which translates to ~81% capacity utilization.[3]
The feed is sold in India and Bangladesh.[1]

Website BSE NSE
  • Market Cap ₹ 5,342 Cr.
  • Current Price ₹ 392
  • High / Low ₹ 615 / 364
  • Stock P/E 20.9
  • Book Value ₹ 142
  • Dividend Yield 1.59 %
  • ROCE 17.3 %
  • ROE 11.7 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 27.4%
  • Company's median sales growth is 22.8% of last 10 years

Cons

* 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: Food - Processing - Indian

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
1,064 923 1,035 955 1,132 915 1,098 1,409 1,226 1,069 1,332 1,569 1,322
935 859 910 826 978 824 1,013 1,317 1,185 1,004 1,217 1,466 1,247
Operating Profit 129 63 125 129 153 92 85 92 41 65 115 103 75
OPM % 12% 7% 12% 14% 14% 10% 8% 7% 3% 6% 9% 7% 6%
22 20 12 28 19 28 18 17 8 12 16 7 26
Interest 0 1 1 0 0 0 1 0 1 0 0 0 0
Depreciation 10 9 10 9 10 12 10 10 10 10 10 10 10
Profit before tax 141 73 126 147 162 108 93 99 38 66 121 100 90
Tax % 9% 19% 22% 21% 23% 20% 24% 22% 14% 34% 24% 27% 26%
Net Profit 127 59 99 116 125 86 70 76 33 44 92 73 67
EPS in Rs 8.71 3.51 6.38 7.64 8.17 5.50 5.12 5.35 1.77 2.95 6.19 4.86 4.16
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
204 383 626 1,093 1,709 1,935 2,616 3,393 3,488 4,115 4,101 5,036 5,293
195 338 575 982 1,526 1,704 2,284 2,708 3,078 3,659 3,639 4,722 4,935
Operating Profit 9 45 52 112 182 231 332 684 410 456 461 314 357
OPM % 4% 12% 8% 10% 11% 12% 13% 20% 12% 11% 11% 6% 7%
4 3 1 4 9 20 23 49 59 71 93 54 61
Interest 5 4 4 4 3 3 5 5 5 4 3 4 2
Depreciation 3 4 5 6 9 10 14 24 36 38 41 41 40
Profit before tax 5 40 44 105 180 238 337 704 428 485 510 324 377
Tax % 33% 30% 32% 34% 35% 33% 33% 34% 28% 20% 22% 24%
Net Profit 4 28 30 70 116 158 226 466 307 386 397 245 276
EPS in Rs 0.28 2.34 2.21 5.18 8.52 11.56 15.83 32.78 20.08 25.43 26.43 16.26 18.16
Dividend Payout % 24% 19% 20% 19% 22% 20% 19% 12% 20% 20% 24% 38%
Compounded Sales Growth
10 Years: 29%
5 Years: 14%
3 Years: 13%
TTM: 14%
Compounded Profit Growth
10 Years: 22%
5 Years: 0%
3 Years: -6%
TTM: 1%
Stock Price CAGR
10 Years: 46%
5 Years: -14%
3 Years: -16%
1 Year: -34%
Return on Equity
10 Years: 27%
5 Years: 24%
3 Years: 19%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
8 9 9 9 9 9 9 9 14 14 14 14 14
Reserves 62 86 116 170 256 414 626 1,022 1,192 1,390 1,748 1,882 1,915
54 50 61 56 58 11 19 7 9 2 4 4 4
26 39 62 163 154 189 414 488 400 475 517 617 693
Total Liabilities 150 183 248 398 478 623 1,069 1,526 1,615 1,880 2,282 2,516 2,625
27 43 51 78 90 104 160 312 293 271 292 273 262
CWIP 11 2 2 5 0 42 94 2 9 26 6 40 129
Investments 34 45 35 40 111 33 360 584 630 680 1,235 931 1,088
78 93 161 276 277 444 454 628 683 903 749 1,272 1,146
Total Assets 150 183 248 398 478 623 1,069 1,526 1,615 1,880 2,282 2,516 2,625

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-8 50 -21 56 89 122 278 281 184 178 383 -212
-18 -17 5 -39 -84 18 -408 -269 -27 -79 -366 299
19 -14 1 -13 -12 -74 101 -45 -106 -141 15 -68
Net Cash Flow -6 19 -14 4 -6 66 -30 -34 51 -42 31 18

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 41 15 23 15 7 7 3 5 5 8 6 8
Inventory Days 88 55 71 84 59 68 63 79 51 61 63 85
Days Payable 31 16 15 51 24 34 44 43 24 24 27 26
Cash Conversion Cycle 98 54 80 48 42 41 22 41 32 44 42 67
Working Capital Days 87 30 50 33 26 29 15 29 26 36 34 57
ROCE % 9% 33% 29% 52% 65% 62% 63% 83% 36% 37% 29% 17%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
43.69 43.69 43.69 43.69 43.69 43.69 43.68 43.68 43.68 43.68 43.28 43.28
17.83 17.28 16.40 17.20 17.65 17.57 17.37 17.11 15.16 14.02 14.06 12.67
2.22 2.98 4.06 3.75 3.13 4.35 5.23 6.14 8.18 8.73 8.62 8.75
2.72 2.72 2.72 2.72 2.72 2.72 2.72 2.72 2.72 2.72 2.72 2.72
33.54 33.33 33.13 32.64 32.81 31.66 30.99 30.34 30.26 30.85 31.33 32.57

* 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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