Apex Frozen Foods Limited , a prominent player in the aquaculture industry, has announced significant leadership reappointments and corporate governance changes following a board meeting held on September 6, 2025.

Leadership Continuity and Reappointments

The company's board has approved the continuation of Karuturi Satyanarayana Murthy as Executive Chairman beyond the age of 70. Mr. Murthy, a co-promoter with over 30 years of experience in the aqua industry, has been reappointed for a five-year term from December 1, 2025, to November 30, 2030.

Karuturi Subrahmanya Chowdary, the current Managing Director, has also been reappointed for a five-year term coinciding with Mr. Murthy's tenure. Mr. Chowdary, aged 45, brings over 24 years of experience in the aqua sector and has been instrumental in the company's growth and expansion.

Additionally, Neelima Devi Karuturi has been reappointed as Whole-time Director for a five-year term from February 1, 2026, to January 31, 2031. Mrs. Karuturi, aged 41, has over 13 years of experience in the aqua industry and has been crucial in driving the company's administrative systems and CSR initiatives.

Independent Director Reappointments

The board has also approved the reappointment of two independent directors for their second five-year terms:

1. B. Raghavulu Naidu: Reappointed from June 4, 2026, to June 3, 2031. Mr. Naidu, aged 65, is a law graduate with extensive legal experience, including practice before the Madras High Court and senior legal roles at SBI.

2. Govindareddy Krishnamoorthy: Reappointed from June 22, 2026, to June 21, 2031. Mr. Krishnamoorthy, aged 71, is a Fellow Chartered Accountant with 40 years of experience in auditing, bringing valuable financial expertise to the board.

Increase in Managerial Remuneration Limit

In a move to align with the company's growth, the board has approved an increase in the overall limit of maximum managerial remuneration from 16.00% to 26.00% of the net profits, computed as per section 198 of the Companies Act, 2013.

Annual General Meeting and Auditor Appointment

Apex Frozen Foods has scheduled its 13th Annual General Meeting for September 29, 2025, to be held via video conferencing. The company has also appointed A S Ramkumar & Associates as Secretarial Auditors for a five-year term from FY 2025-26 to FY 2029-2030.

All these appointments and changes are subject to shareholder approval at the upcoming Annual General Meeting.

These strategic decisions reflect Apex Frozen Foods' commitment to maintaining strong leadership continuity while also ensuring robust corporate governance practices. The reappointments and governance changes are expected to support the company's long-term growth strategy in the competitive aquaculture sector.

Apex Frozen Foods Limited , a leading Indian shrimp exporter, has delivered a strong financial performance in the first quarter of fiscal year 2026, demonstrating significant growth across key metrics.

Financial Highlights

The company reported a substantial 39% year-on-year increase in net revenue, reaching Rs 258.20 crore for Q1 FY26. This growth was primarily driven by a 17% increase in total shrimp sales volume, which reached 3,015 metric tonnes (MT), coupled with a 19% improvement in average realization to Rs 811.00 per kg.

Profitability saw a remarkable improvement, with profit after tax (PAT) surging by 139% to Rs 9.10 crore. The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also showed strong growth, increasing by 66% to Rs 18.40 crore.

Operational Performance

Apex Frozen Foods demonstrated solid operational performance across various segments:

1. Product Mix: The company expanded its Ready-to-Eat (RTE) product share to 15% of total sales, up from 9% in the previous year, indicating a strategic shift towards value-added products.

2. Geographic Expansion: Sales to the USA, a key market for the company, grew by 18%. Additionally, the European Union market saw a significant 22% increase in sales.

3. Margin Improvement: Gross margin improved to 33.7%, up 164 basis points year-on-year, while EBITDA margin expanded to 7.1%.

Market Position and Outlook

Apex Frozen Foods continues to strengthen its position as one of the leading exporters of processed shrimp in India. The company's integrated business model, which includes hatchery operations and a processing capacity of 34,240 MTPA, provides a strong foundation for sustainable growth.

The company's strategic focus on diversifying its product mix, particularly the increased share of Ready-to-Eat products, appears to be yielding positive results. This shift towards value-added products could potentially lead to improved margins and market positioning in the future.

Financial Stability

As per the latest available data, Apex Frozen Foods maintains a strong financial position with prudent debt management. The company's net debt to equity ratio stands at a comfortable 0.2, indicating a conservative approach to leverage.

In conclusion, Apex Frozen Foods' Q1 FY26 results demonstrate the company's ability to capitalize on market opportunities and drive growth across key financial and operational metrics. The focus on product diversification and geographical expansion appears to be paying off, setting a positive tone for the fiscal year ahead.