Avanti Feeds has released its detailed Q3 FY26 financial results through an earnings conference call held on March 03, 2026, providing comprehensive insights into the company's performance across its feed and processing divisions.

Consolidated Financial Performance

The company reported mixed quarterly results with revenue pressures offset by improved profitability metrics. Key consolidated performance indicators demonstrate the impact of seasonal variations and market dynamics on overall business operations.

For the nine months ended December 31, 2025, consolidated gross income reached ₹4,761 crores compared to ₹4,341 crores in the corresponding period, representing a 9.67% increase. PBT for nine months stood at ₹698 crores versus ₹526 crores, marking a significant 32.7% improvement.

Feed Division Performance

The standalone feed division experienced volume-driven revenue fluctuations while maintaining stable profitability. Feed sales decreased to 1,18,127 MT in Q3 compared to 1,54,644 MT in Q2 FY26, reflecting typical seasonal patterns in aquaculture operations.

For nine months FY26, the feed division achieved PBT of ₹576 crores compared to ₹465 crores in the previous year, representing a 23.87% increase. Feed sales volume increased to 4,38,335 MT from 4,25,537 MT in nine months FY25.

Raw Material Cost Pressures

The company highlighted significant increases in key raw material prices during Q3 FY26. Fish meal prices rose to ₹117 per kg from ₹98 in Q2 and ₹93 in Q3 FY25. Current purchase prices have escalated further, with fish meal at ₹145 per kg and soya bean meal at ₹56 per kg.

Processing Division Growth

The shrimp processing and export division demonstrated robust performance with significant year-over-year improvements. Q3 FY26 gross income reached ₹455 crores compared to ₹328 crores in Q3 FY25, representing 39% growth driven by improved pricing realization and favorable foreign exchange rates.

Market Outlook and Projections

Management projects PBT margin of 14.5-15% for FY26, down from the 16% achieved in nine months due to rising raw material costs. The company estimates feed sales of around 5,55,000 MT for FY26 and shrimp exports of approximately 16,500 MT.

The removal of reciprocal tariffs by the U.S. and implementation of trade agreements with UK and EU are expected to improve export prospects. However, uncertainty remains regarding the 10% import surcharge potentially increasing to 15%.

Pet Care Division Progress

The pet food business under the "Avant Furst" brand recorded sales of ₹136.2 lakhs in Q3 FY26 compared to ₹95.08 lakhs in Q2 FY26. The company is developing manufacturing facilities near Hyderabad with land development works currently in progress.

Avanti Feeds Limited has released its Q3FY26 financial results along with an investor presentation, following the scheduled earnings call on March 3, 2026. The company filed the presentation with BSE and NSE pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations 2015.

Q3FY26 Financial Performance

The company reported consolidated revenue from operations of ₹13,835.23 Mn in Q3FY26, representing a 1.3% year-on-year growth from ₹13,657.68 Mn in Q3FY25. Despite modest revenue growth, profitability metrics showed significant improvement.

Segment-wise Performance

Shrimp Feed Business: Revenue declined 9.6% YoY to ₹9,442.08 Mn from ₹10,447.22 Mn, primarily due to seasonal factors. However, EBITDA margins improved significantly to 19.05% in Q3FY26.

Shrimp Processing & Export: This segment demonstrated robust growth with revenue increasing 36.8% YoY to ₹4,393.15 Mn from ₹3,210.46 Mn. The growth was driven by improved average selling price realisation and favourable foreign exchange rates. EBITDA margins expanded to 13.5% from 8.3% in the previous year.

Nine-Month Performance Highlights

For the nine months ended December 31, 2025, the company showed strong overall performance with consolidated revenue growing 8.81% to ₹45,995.71 Mn. EBITDA surged 31% to ₹7,474 Mn, while PAT increased 29.53% to ₹5,179.47 Mn.

Operational Metrics

Shrimp feed production reached 1,22,634 MT in Q3FY26, while sales volume was 1,18,127 MT. Shrimp processing production stood at 4,413 MT with sales of 3,767 MT during the quarter.

Market Diversification

The company's processed shrimp exports showed geographical diversification with North America accounting for 64.5% of sales, Europe 15.0%, and Asia 19.5% in Q3FY26. This represents a strategic shift towards Asian markets compared to the previous year.

Earnings Call Recording Available

Following the post-earnings conference call held on March 3, 2026, Avanti Feeds Limited has made the audio recording available on the company's website. The recording can be accessed at https://avantifeeds.com/corporate-announcement/#Investor-Conference-Call-Recordings for investors and analysts seeking detailed insights into the quarterly performance.

Management Outlook

The earnings call was addressed by senior management including Dr. A. Indra Kumar (Chairman & Managing Director), Mr. C. Ramachandra Rao (Joint Managing Director, CFO and CS), and other key executives. The presentation highlighted the company's strong financial performance and operational efficiency improvements across both business segments.