Apex Frozen Foods Limited has announced that its board of directors will meet on Saturday, May 30, 2026, at the company's registered office. The primary agenda for the meeting is to consider and approve the audited financial results for the fourth quarter and the financial year ended March 31, 2026.

In addition to the financial results, the board will evaluate the recommendation of a dividend for the financial year ended March 31, 2026, if any. This decision will be subject to the approval of the board members during the session.

The company has also informed the exchanges that the trading window for dealing in equity shares remains closed. This restriction applies to all promoters, directors, designated employees, insiders, and their relatives. The window closed on April 1, 2026, and will remain shut until 48 hours after the declaration of the audited financial results.

Key Meeting Details

Apex Frozen Foods Limited delivered robust financial performance in Q3FY26, demonstrating resilience amid challenging market conditions and benefiting from strategic diversification efforts. The company's earnings conference call held on February 16, 2026, revealed significant improvements across key financial metrics.

Strong Revenue Growth Driven by EU Market Expansion

The company achieved impressive revenue growth in Q3FY26, with net revenue increasing 15% year-on-year to ₹264 crores. This growth was primarily attributed to higher shrimp sales to the European Union and improved average realizations supported by firm global shrimp prices and favorable currency exchange rates.

Despite a 5% decline in sales volumes to 2,754 metric tons compared to 2,903 metric tons in Q3FY25, the company maintained strong revenue performance through improved pricing strategies and market positioning.

Geographic Diversification Strategy Yields Results

The company's strategic focus on diversification showed positive results, with non-U.S. export business growing from around 37% in 9 months of FY24 to nearly 51% in 9 months of FY26. Sales to the European Union registered strong momentum with 22% year-on-year growth, effectively offsetting the 12% decline in U.S. sales during the quarter.

Nine-Month Performance Demonstrates Sustained Growth

For the nine months ended December 31, 2025, Apex Frozen Foods maintained strong performance across all key metrics:

The European market continued its strong performance, registering 20% year-on-year growth, while U.S. sales declined marginally by 1% during the nine-month period.

Operational Efficiency and Cost Management

The company benefited significantly from lower raw material costs, with average purchase prices at ₹327 per kilo in Q3FY26 compared to ₹374 per kilo in the previous year. This 12.6% reduction in raw material costs, combined with effective cost control measures, contributed substantially to margin expansion.

However, the company noted an uptick in farmgate prices during the current quarter, with increases of approximately ₹30-40 per kilo, which management attributed to typical seasonal demand-supply dynamics.

Trade Policy Developments Create Positive Outlook

Significant trade policy changes have created a more favorable operating environment. U.S. tariffs on Indian shrimp were reduced from 50% to 25% effective February 7, 2026, removing the penal tariff component. During Q3FY26, the company incurred ₹46 crores in tariff expenses, while the nine-month tariff component totaled ₹86 crores.

The proposed India-EU Free Trade Agreement represents another structurally positive development, with management expecting gradual benefits to strengthen medium to long-term growth prospects.

Future Outlook and Strategic Initiatives

Management expressed confidence in maintaining sustainable EBITDA levels of 7-10% going forward, with potential for higher margins as ready-to-eat product volumes increase. The company targets revenue of approximately ₹1,200-plus crores over the next two years, supported by improved capacity utilization and volume growth.

Current capacity utilization stands at 33-35%, with management planning to increase this to approximately 50% by FY27. The ready-to-eat segment, which comprised 11% of total sales in the nine-month period compared to 10% in the previous year, presents significant growth opportunities, particularly in European markets following FTA implementation.