Avanti Feeds Ltd-$ — Q4 FY26 earnings call
Summary generated by AI from the official transcript Avanti Feeds Ltd-$ filed with BSE on 15 Jun 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 Rs 1,515 crores in Q4 FY26, up from Rs 1,447 crores in Q3 FY26, while consolidated PBT declined to Rs 184 crores from Rs 222 crores on higher raw material costs. For the full year FY26, gross income rose to Rs 6,279 crores from Rs 5,766 crores in FY25 and PBT increased to Rs 882 crores from Rs 737 crores. Management described a steep rise in fish meal and soya bean meal prices in the two months preceding the call and said the company was preparing a feed price increase to offset the higher input costs.
Numbers mentioned
Consolidated gross income: INR 1,515 crores (Q4 FY26)
p. 4
“The gross income in Q4 FY26 is INR 1,515 crores as compared to INR 1,447 crores in the previous quarter, Q3 FY26, an increase of INR 69 crores by about 4.77%.”
Santhi Latha, page 4 of the filed PDF · View the filing
Consolidated PBT: INR 184 crores (Q4 FY26)
p. 4
“The PBT is INR 184 crores in Q4 FY26 as compared to INR 222 crores in Q3 FY26, a decrease of INR 38 crores by 17.12%.”
Santhi Latha, page 4 of the filed PDF · View the filing
Consolidated gross income: INR 6,279 crores (FY26)
p. 4
“the gross income in FY26 is INR 6,279 crores as compared to INR 5,766 crores in FY25, an increase of INR 513 crores by about 8.9%.”
Santhi Latha, page 4 of the filed PDF · View the filing
Consolidated PBT: INR 882 crores (FY26)
p. 4
“The PBT is INR 882 crores in FY26 as compared to INR 737 crores in FY25, an increase of INR 145 crores by about 20%.”
Santhi Latha, page 4 of the filed PDF · View the filing
Feed division gross income: INR 1,068 crores (Q4 FY26)
p. 5
“The gross income of Feed division for the Q4 FY26 is INR 1,068 crores as compared to INR 993 crores in the previous quarter of Q3 FY26, an increase of INR 75 crores due to increase in quantity of feed sold.”
Santhi Latha, page 5 of the filed PDF · View the filing
Feed division PBT: INR 139 crores (Q4 FY26)
p. 5
“The PBT for Q4 FY26 is INR 139 crores as compared to INR 172 crores in Q3 FY26, a decrease of INR 33 crores by 19% due to increase in raw material costs.”
Santhi Latha, page 5 of the filed PDF · View the filing
Feed sales volume: 1,23,725 MT (Q4 FY26)
p. 5
“The feed sales increased to 1,23,725 MT in Q4 FY26 as compared to 1,18,127 in Q3 and decreased from 1,29,711 in Q4 FY25.”
Santhi Latha, page 5 of the filed PDF · View the filing
Feed division PBT margin: 15.5% (FY26)
p. 6
“The PBT during the FY26 stood at 15.5% on revenue as compared to about 14.34% during FY25.”
Santhi Latha, page 6 of the filed PDF · View the filing
Fish meal price: INR 130 per kg (Q4 FY26)
p. 6
“The average consumption prices of fish meal increased in Q4 FY26 to INR 130 per kg from INR 117 in Q3 FY26 and from INR 91 in Q4 FY25.”
Santhi Latha, page 6 of the filed PDF · View the filing
Soya bean meal price: INR 55 per kg (Q4 FY26)
p. 6
“In case of soya bean meal, their prices increased to INR 55 per kg in Q4 FY26 from INR 44 in Q3 FY26 and increased from INR 41 in Q4 FY25.”
Santhi Latha, page 6 of the filed PDF · View the filing
Present fish meal purchase price: INR 230 per kg
p. 6
“Present purchase price of fish meal is INR 230 per kg and soya bean meal is INR 72 per kg, and wheat flour is INR 30 per kg.”
Santhi Latha, page 6 of the filed PDF · View the filing
Shrimp Processing division gross income: INR 446 crores (Q4 FY26)
p. 7
“The gross income for Q4 FY26 was INR 446 crores as compared to INR 455 crores in Q3 FY26, a decrease by INR 9 crores, representing 2%, mainly due to decrease in average sales price realization.”
D. V. S. Satyanarayana, page 7 of the filed PDF · View the filing
Shrimp Processing division PBT: INR 48 crores (Q4 FY26)
p. 7
“The profit before tax for Q4 FY26 was INR 48 crores as compared to INR 52 crores in Q3 FY26, preceding immediate quarter, decreasing mainly due to decrease in average price realization.”
D. V. S. Satyanarayana, page 7 of the filed PDF · View the filing
Shrimp Processing division gross income: INR 1,741 crore (FY26)
p. 7
“The gross income for the 12 months of FY26 was INR 1,741 crore compared to INR 1,220 crore in the corresponding 12 months period of previous year, that is FY25.”
D. V. S. Satyanarayana, page 7 of the filed PDF · View the filing
Shrimp Processing division PBT: INR 178 crore (FY26)
p. 8
“The profit before tax for the 12 months ended FY26 was INR 178 crore as compared to INR 86 crore in the corresponding period of FY25, reflecting an increase of INR 92 crore.”
D. V. S. Satyanarayana, page 8 of the filed PDF · View the filing
Pet food sales: INR 151 lakhs (Q4 FY26)
p. 8
“During Q4 FY2526, the company recorded sales INR 151 lakhs compared to INR 136 lakhs in Q3 FY2526, reflecting a sustained growth and increasing market acceptance of our products.”
K. Srinivas Reddy, page 8 of the filed PDF · View the filing
Company shrimp exports: 16,976 MTs (FY26)
p. 6
“Your company's shrimp exports during the FY26 was 16,976 MTs as compared to 14,149 in FY25, an increase by 2,827 MTs.”
Santhi Latha, page 6 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 5,80,000 MTs · FY27
stated as an aspiration by Santhi Latha
p. 6
“It is estimated that the feed sales during FY27 would be around 5,80,000 MTs.”
Santhi Latha, page 6 of the filed PDF · View the filing
Company shrimp exports — around 19,000 MT · FY27
stated as an aspiration by Santhi Latha
p. 6
“It is estimated that the exports during FY25 would be around 19,000 MT.”
Santhi Latha, page 6 of the filed PDF · View the filing
Feed price — next few days
stated firmly by C. Ramachandra Rao
p. 11
“And maybe in the next few days, we will be going for another price increase of the feed.”
C. Ramachandra Rao, page 11 of the filed PDF · View the filing
Capex — no major capex · next two years
stated firmly by C. Ramachandra Rao
p. 12
“We don't foresee any big CapEx in the next two years.”
C. Ramachandra Rao, page 12 of the filed PDF · View the filing
Pet care volume — 800 MTs · by end of this year
stated as an aspiration by A. Venkata Sanjeev
p. 12
“We've been increasing from 53 tons to, right now, 100 tons with goal of 800 MTs by end of this year.”
A. Venkata Sanjeev, page 12 of the filed PDF · View the filing
Revenue and profit growth — 10-15% growth · next two to three years
stated conditionally by C. Ramachandra Rao
p. 18
“Overall, the target, if you put around 10-15% growth with the present global situation, it will be a big achievement.”
C. Ramachandra Rao, page 18 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.
Management said a price increase was taken in February but had limited impact, and that raw material costs have risen sharply requiring another price hike shortly.
Answered by Santhi Latha
Asked by Ronak Shah: Has a price hike been taken in Q4, and what is the outlook for feed division margins in FY27?
p. 11
“We have taken a price increase in February of the fourth quarter. So, the impact is not there much because only one month we had the improved price, and that is also not a full price impact.”
Santhi Latha, page 11 of the filed PDF · View the filing
Management said the business grows step by step due to quality, safety and production build-up requirements rather than exponential jumps.
Answered by Alluri Nikhilesh
Asked by Ronak Shah: Is the FY27 export growth guidance of ~19,000 MT conservative given FTA benefits and peer growth?
p. 12
“This business cannot increase exponentially at one point. It has to be built step by step.”
Alluri Nikhilesh, page 12 of the filed PDF · View the filing
Management confirmed Avanti Frozen Foods is the importer of record and estimated the refund amount.
Answered by D. V. S. Satyanarayana
Asked by Arjun Khanna: Is Avanti Frozen Foods the importer of record for U.S. shipments, and what is the quantum of tariff refunds sought?
p. 14
“Avanti Frozen Foods Private Limited is the importer of record in U.S. So, Avanti itself import the goods and do the customs clearance and arrange for the deliveries to the respective buyers.”
D. V. S. Satyanarayana, page 14 of the filed PDF · View the filing
Management said the calculation is still in process, with a rough estimate given.
Answered by D. V. S. Satyanarayana
Asked by Arjun Khanna: What is the estimated quantum of the tariff refund?
p. 13
“Roughly, it will come around USD 15-20 million.”
D. V. S. Satyanarayana, page 13 of the filed PDF · View the filing
Management explained the business is seasonal and raw material availability constrains processing at various times of year.
Answered by Alluri Nikhilesh
Asked by Arjun Khanna: What prevents faster capacity scale-up beyond 10-15% growth given stated capacities near 26,000-28,000 MT?
p. 15
“There are months where we want raw material, but we don't have enough raw material because that's how the growth cycle, let's say, installed capacity.”
Alluri Nikhilesh, page 15 of the filed PDF · View the filing
Management said margin structure is already better than peers due to value-added products and that a balance is maintained between capacity utilization and margin.
Answered by Alluri Nikhilesh
Asked by Arjun Khanna: Should EBITDA margin for the processing business move up with better utilization and higher throughput?
p. 18
“if you compare to our peers, if you look to do a general analysis, you will see that our margin structure is much better because we do all these products.”
Alluri Nikhilesh, page 18 of the filed PDF · View the filing
Management said 10-15% growth would be a significant achievement given global uncertainty and that budgeting for FY27 has not yet been finalized.
Answered by C. Ramachandra Rao
Asked by Vidhya: What revenue and profit growth is expected over the next two to three years?
p. 18
“We don't know,today we are unable to even prepare the budget for FY26, FY27 even though three months have already lapsed.”
C. Ramachandra Rao, page 18 of the filed PDF · View the filing
Management said Ecuador remains the largest exporter, India is number two, and market conditions in the U.S. and Europe are improving.
Answered by Alluri Nikhilesh
Asked by Ronak Shah: How is Avanti positioned against Ecuador and other competing exporters currently?
p. 19
“Ecuador continues to be largest exporter. India also continues to be one of the largest exporter, the number two.”
Alluri Nikhilesh, page 19 of the filed PDF · View the filing
Risks flagged
Steep increase in raw material prices for fish meal and soya bean meal
p. 8
“Unfortunately, when things were going smoothly, the prices of raw materials used for the manufacture of shrimp feed are going up steeply since past two months.”
C. Ramachandra Rao, page 8 of the filed PDF · View the filing
Gulf War and El Nino threat impacting agricultural crops and rainfall
p. 8
“A major reason attributed is Gulf War on one hand, and added to it is the threat of severe El Nino this year, seriously impacting the rainfall and agricultural crops.”
C. Ramachandra Rao, page 8 of the filed PDF · View the filing
Doubling of fish meal price in two months
p. 8
“The price of fish meal doubled from INR 100 to INR 240 in a span of two months, May and June.”
C. Ramachandra Rao, page 8 of the filed PDF · View the filing
Steep rise in soya bean meal price due to crop shortage and El Nino fears
p. 8
“The prices of soybean meal increasing steeply due to shortage in the previous year crop by 13 lakh tons and fear of failure of current year's crop due to El Nino conditions.”
C. Ramachandra Rao, page 8 of the filed PDF · View the filing
Uncertainty over U.S. tariff structure applicable to seafood imports
p. 9
“while some uncertainty remains regarding the final tariff structure applicable to seafood imports, the overall environment has become more favourable for exports.”
C. Ramachandra Rao, page 9 of the filed PDF · View the filing
Challenging season expected for aquaculture industry due to feed raw material price increases and export demand uncertainty
p. 5
“in general, FY2627 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.”
Santhi Latha, page 5 of the filed PDF · View the filing
Global uncertainty affecting budgeting and growth targets
p. 19
“Because today, we are in a situation where many things are uncertain.”
C. Ramachandra Rao, page 19 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.