Avanti Feeds Ltd-$ — Q1 FY27 earnings call
Summary generated by AI from the official transcript Avanti Feeds Ltd-$ filed with BSE on 28 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Avanti Feeds reported consolidated gross income of INR 1,966 crores in Q1 FY27, up 30% sequentially and 19% year-on-year, while consolidated PBT fell to INR 157 crores, down 15% sequentially and 37% year-on-year. Management attributed the profitability decline mainly to a sharp rise in raw material costs, particularly fish meal and soya bean meal, in the Feed division. The Shrimp Processing and Export division and the PetCare project were also discussed, with the latter continuing to build out its manufacturing facility near Hyderabad pending regulatory approval.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Consolidated gross income: INR 1,966 crores (Q1 FY27)
p. 3
“The consolidated gross income in Q1 FY27 is INR 1,966 crores as compared to INR 1,516 crores in the previous quarter of Q4 FY26, an increase of INR 450 crores by about 30%.”
B. Santhi Latha, page 3 of the filed PDF · View the filing
Consolidated PBT: INR 157 crores (Q1 FY27)
p. 3
“The PBT is INR 157 crores in Q1 FY27 as compared to INR 184 crores in Q4 FY26, a decrease of INR 27 crores by 15%.”
B. Santhi Latha, page 3 of the filed PDF · View the filing
Feed division gross income: INR 1,615 crores (Q1 FY27)
p. 3
“The gross income for Q1 FY27 is INR 1,615 crores as compared to INR 1,069 crores in the previous quarter of Q4 FY26, an increase of INR 546 crores, representing 51%, mainly due to increase in quantity of feed sold by 70,126 MT.”
B. Santhi Latha, page 3 of the filed PDF · View the filing
Feed division PBT: INR 114 crores (Q1 FY27)
p. 4
“The PBT for Q1 FY27 is INR 114 crores as compared to INR 139 crores in Q4 FY26, a decrease of INR 25 crores by about 18%, mainly due to increase in raw material prices.”
B. Santhi Latha, page 4 of the filed PDF · View the filing
Feed sales volume: 1,93,852 MTs (Q1 FY27)
p. 4
“The feed sales increased to 1,93,852 MTs in Q1 FY27 as compared to 1,23,725 MTs in Q4 FY26.”
B. Santhi Latha, page 4 of the filed PDF · View the filing
Average fish meal consumption price: INR 153 per kg (Q1 FY27)
p. 4
“The average consumption price of fish meal increased in Q1 to INR 153 per kg from INR 123 per kg in Q4 FY26 and increased from INR 93 per kg in Q1 FY26.”
B. Santhi Latha, page 4 of the filed PDF · View the filing
Average soya bean meal consumption price: INR 58 per kg (Q1 FY27)
p. 4
“In price of soya bean meal, their prices increased to INR 58 per kg in Q1 FY27 from INR 49 in Q4 FY26 and increased from 40 in Q1 FY26.”
B. Santhi Latha, page 4 of the filed PDF · View the filing
PBT margin on revenue (Feed division): 7.06% (Q1 FY27)
p. 5
“The PBT during the quarter stood at 7.06% on revenue as compared to about 13% during Q4 FY26 and 17% during Q1 FY26.”
B. Santhi Latha, page 5 of the filed PDF · View the filing
Shrimp Processing gross income: INR 350 crores (Q1 FY27)
p. 6
“The gross income for Q1 FY27 was INR 350 crores as compared to INR 446 crores in Q4 FY26, that is immediate preceding quarter.”
D. V. S. Satyanarayana, page 6 of the filed PDF · View the filing
Shrimp Processing PBT before exceptional items: INR 45 crores (Q1 FY27)
p. 6
“The PBT before exceptional items for Q1 FY27 stood at INR 45 crores compared to INR 48 crores in Q4 FY26.”
D. V. S. Satyanarayana, page 6 of the filed PDF · View the filing
PetCare sales: INR 180 lakh (Q1 FY27)
p. 6
“Q1 FY26/27 sales increased to INR 180 lakh compared to INR 151 lakhs in Q4 FY25/26, reflecting continued growth in both cat food and dog food segment.”
K. Srinivas Reddy, page 6 of the filed PDF · View the filing
PetCare project investment to date: INR 25 crores
p. 13
“Till now, we have purchased land around INR 25 crores worth of land.”
K. Srinivas Reddy, page 13 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Feed sales volume — around 5,85,000 MTs · FY27
stated as an aspiration by B. Santhi Latha
p. 4
“It is estimated that the feed sales during FY27 would be around 5,85,000 MTs.”
B. Santhi Latha, page 4 of the filed PDF · View the filing
Shrimp export volume — around 19,000 MTs · FY27
stated as an aspiration by B. Santhi Latha
p. 5
“It is estimated that exports during FY27 would be around 19,000 MTs.”
B. Santhi Latha, page 5 of the filed PDF · View the filing
Raw material price stabilization — coming months
stated conditionally by B. Santhi Latha
p. 4
“However, due to favorable monsoon across India, El Nino effects are expected to ease and raw material prices of shrimp feed are expected to stabilize in coming months upon arrival of fresh crops.”
B. Santhi Latha, page 4 of the filed PDF · View the filing
PetCare manufacturing facility construction
stated conditionally by K. Srinivas Reddy
p. 6
“Construction activity will commence upon receipt of the necessary approval.”
K. Srinivas Reddy, page 6 of the filed PDF · View the filing
PetCare project total investment — around INR 175 crores
stated firmly by K. Srinivas Reddy
p. 13
“We are estimating around INR 175 crores investment in a pet food.”
K. Srinivas Reddy, page 13 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Farm-gate prices are balanced against global prices and farmer affordability/sustainability, set from time to time by monitoring both factors.
Answered by C. Ramachandra Rao
Asked by Arjun Khanna: How are farm-gate prices trending given global protein inflation and rupee depreciation?
p. 8
“We keep normally both the considerations, and we fix the farm-gate prices from time to time.”
C. Ramachandra Rao, page 8 of the filed PDF · View the filing
Management said price decisions require balancing farmer affordability and feed industry sustainability, in consultation with government and stakeholders, and that it is an ongoing process.
Answered by C. Ramachandra Rao
Asked by Arjun Khanna: Given rising feed costs, are further price hikes planned?
p. 9
“There is a lot of work that has to be done before we take any increase in the feed.”
C. Ramachandra Rao, page 9 of the filed PDF · View the filing
The CFO said the entries are under ADD and CVD review suspension, and CBP will not process reciprocal tariffs until the suspension is lifted.
Answered by D. V. S. Satyanarayana
Asked by Arjun Khanna: Any update on the US reciprocal tariff refund previously estimated at USD 15-20 million?
p. 9
“Unless the suspension is lifted, the CBP will not process the reciprocal tariffs. As of now, they're all under pending status.”
D. V. S. Satyanarayana, page 9 of the filed PDF · View the filing
Management said shrimp culture activity is currently good but cost of feed remains the main concern for the rest of the year.
Answered by C. Ramachandra Rao
Asked by Ronak Shah: Why is FY27 feed volume guidance conservative given strong Q1 YoY growth?
p. 11
“But only concern is about the cost. Cost is the only concern because the cost of feed is going up.”
C. Ramachandra Rao, page 11 of the filed PDF · View the filing
A price hike of around 10% was taken around June/July.
Answered by B. Santhi Latha
Asked by Ronak Shah: Have price hikes been taken recently, and what was the extent?
p. 11
“Around 10%, we have taken.”
B. Santhi Latha, page 11 of the filed PDF · View the filing
Management said they are working on quality and formulation adjustments to reduce raw material usage while keeping prices stable.
Answered by B. Santhi Latha
Asked by Ronak Shah: Is the company evaluating formulation changes to mitigate raw material volatility?
p. 12
“We are working on the quality aspect along with the formulation, so that we mitigate the usage of the raw material and all will be concentrate the raw materials price will remain stable.”
B. Santhi Latha, page 12 of the filed PDF · View the filing
Risks flagged
Rising raw material costs (fish meal, soya bean meal) pressuring feed division margins
p. 4
“The noticeable development in this quarter is increasing trend of two major raw materials, that is fish meal and soya bean meal, resulting in decrease in the profitability when compared with previous quarters.”
B. Santhi Latha, page 4 of the filed PDF · View the filing
Combination of higher input costs and supply constraints pressuring the aquaculture industry
p. 4
“The combination of higher input costs, supply side constraints and fears of further price escalation is putting considerable pressure on shrimp feed manufacturer and on the overall aquaculture industry.”
B. Santhi Latha, page 4 of the filed PDF · View the filing
FY27 season expected to be challenging due to feed raw material price increases and export/demand pressures
p. 4
“To sum up, in general, FY26/27 is expected to be a challenging season for the aquaculture industry in respect of shrimp production due to steep increase in feed raw material prices as well as exports from India and global demand for shrimp exports.”
B. Santhi Latha, page 4 of the filed PDF · View the filing
Global economic stress and geopolitical uncertainty affecting the aquaculture industry
p. 6
“the intensifying El Nino impact and other global uncertainties have significantly affected economies across the world, with India being no exception.”
C. Ramachandra Rao, page 6 of the filed PDF · View the filing
Volatility in farm-gate prices impacting farmer margins and economic viability
p. 7
“This volatility can significantly impact the margins and economic viability of the farmers.”
C. Ramachandra Rao, page 7 of the filed PDF · View the filing
Fragile economics across the shrimp value chain despite record production and exports
p. 7
“However, the economics at different stages of shrimp value chain are becoming increasingly fragile, creating challenges for the long-term sustainability of the industry.”
C. Ramachandra Rao, page 7 of the filed PDF · View the filing
Uncertainty over US reciprocal tariff refund processing due to suspended ADD/CVD review status
p. 9
“Unless the suspension is lifted, the CBP will not process the reciprocal tariffs.”
D. V. S. Satyanarayana, page 9 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.