Apex Frozen Foods turns profitable with strong FY26 performance
Apex Frozen Foods returned to profitability in FY26 with a PAT of INR39 crores, a significant increase from INR4 crores in the previous year. Revenue grew 14% to INR931 crores, while EBITDA increased 145% to INR73 crores, supported by stable volumes and geographic diversification. The company reduced debt substantially and expects strong volume growth in FY27.
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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.
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Revenue (INR Cr) | 931 | - | 14% YoY |
| EBITDA (INR Cr) | 73 | - | 145% YoY |
| EBITDA Margin (%) | 7.7 | - | +405 bps |
| PAT (INR Cr) | 39 | 4 | 902% YoY |
| Sales Volume (MT) | 10,286 | 10,534 | Stable |
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%.
Historical Stock Returns for Apex Frozen Foods
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.50% | -4.03% | -5.70% | +48.48% | +64.95% | +38.50% |
How sustainable is the 30% projected volume growth in FY27 given the current global economic climate?
What impact will the UK and EU Free Trade Agreements have on long-term pricing power and market share?
How does the company plan to utilize its robust cash flow and near-zero debt position for future expansion?
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