Apex Frozen Foods reported a significant improvement in profitability for the first quarter of FY27, with profit after tax (PAT) rising 138% year-on-year to ₹217 Mn. The company’s net revenue increased 51% to ₹2,565 Mn, supported by higher shrimp realizations due to improving global prices, sales of value-added products, and favorable currency movements.

The earnings call for the quarter, scheduled for Tuesday, August 18, 2026, at 11:30 AM IST, will provide further details on these operational metrics. The conference will be led by Karuturi Subrahmanya Chowdary, Managing Director & CFO, and P. Durga Prasad, Sr. Manager, Accounts.

Financial Performance

Despite the revenue growth, shrimp sales volume declined to 2,624 MT in Q1FY27 from 3,015 MT in the same period last year. Management attributed this drop to labor shortages and war-led transport disruptions, noting that volumes are likely to regain momentum in Q2FY27 subject to logistics availability. Gross margin expanded by 984 basis points to 41.9%, while EBITDA margin widened by 405 basis points to 12.7%.

Note: Net Revenue includes export benefits of ₹128 Mn for Q1FY27.

Balance Sheet and Cash Flow

The company maintains a lean balance sheet with total borrowings at ₹1,068 Mn as of March 2026. Net debt to equity stood at comfortable levels, with cash flow from operations remaining robust. Shareholder funds increased to ₹2,700 Mn, reflecting the company’s continued financial stability.

What the Numbers Show

The divergence between declining shrimp volumes (-13%) and rising net revenue (+51% when adjusted for export benefits context or raw comparison shows resilience) highlights the impact of pricing power and mix shift towards value-added products. The expansion in gross margin by nearly 10 percentage points underscores the effectiveness of the company’s cost-efficiency measures amidst volatile input costs.

Earnings Call Details

Investors can participate in the conference through dial-in numbers provided for India and international locations. The event is facilitated by Stellar IR Advisors Pvt Ltd, with Mr. Suyash Samant and Mr. Hrithik Hattiangadi serving as primary contacts.

Dial-In Information

• India: +91 22 6280 1256 / 22 7115 8157
• Hong Kong: 800964448
• Singapore: 8001012045
• UK: 08081011573
• USA: 18667462133

Apex Frozen Foods returned to profitability in FY26, reporting a profit after tax of INR39 crores compared to INR4 crores in the previous year, a growth of 902%. This turnaround was driven by a 14% year-on-year increase in revenue to INR931 crores, supported by firm global shrimp prices and favorable currency movements. The company's earnings conference call for the quarter and year ended March 31, 2026, was held on June 02, 2026.

Financial Performance

The company's operational efficiency improved significantly, with EBITDA growing 145% year-on-year to INR73 crores. EBITDA margins expanded by 405 basis points to 7.7%. Shrimp sales volumes remained stable at 10,286 metric tons in FY26 compared to 10,534 metric tons in FY25. For the fourth quarter, net revenue stood at INR168 crores, with profit after tax reaching INR8 crores, a 296% increase over the corresponding period last year.

Operational Highlights

Geographic diversification played a crucial role in mitigating disruptions in the U.S. market. Non-U.S. export markets became the largest contributor to sales, accounting for 52% of the total mix. The European Union market grew 19% year-on-year in FY26. Management attributed the margin expansion to stable farm gate prices, cost efficiency initiatives, and significant debt reduction.

Balance Sheet and Outlook

Apex Frozen Foods strengthened its financial position by reducing total borrowings from INR107 crores in March 2024 to INR6 crores by the end of FY26. Net debt to equity stood at negative 0.02x. Cash flows from operations were robust at INR96 crores during the year. Looking ahead, the company expects volume growth of nearly 30% in FY27, supported by the implementation of Free Trade Agreements (FTAs) with the UK and EU and a recovery in the U.S. market following tariff reductions to 10%.