APEX

Apex Frozen Foods share price & financials

Price
₹419.75
Market cap
₹1.2k Cr
Sector
Fast Moving Consumer Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 18 Aug 2026

Apex Frozen Foods Limited Q1 FY27

EBITDA ₹33 cr +83%EBITDA Margin 12.7% PAT ₹22 cr +144%PAT Margin 8.4%

What went well

  • Average shrimp realization grew 15% YoY to INR930 per kilo in Q1 FY27, driven by higher dollar unit value, value-added products, and depreciating currency.
  • EBITDA increased 79% YoY to INR33 crores in Q1 FY27 (from INR18 crores in Q1 FY26), with EBITDA margin expanding to 12.7% (from 7.1%).
  • Profit after tax (PAT) grew 138% YoY to INR22 crores (from INR9 crores in Q1 FY26), with PAT margin improving to 8.4% (from 3.5%).

What to watch

  • Total shrimp sales volume declined to 2,624 metric tons in Q1 FY27 compared with 3,015 metric tons in Q1 FY26.
  • Sales to EU and U.K. markets were impacted by war-led transportation disruptions and regulatory issues, reducing their combined share to 25% from 39% in Q1 FY26.
Read the full call →

What Apex Frozen Foods Limited does

Apex Frozen Foods is a vertically integrated shrimp aquaculture and seafood processing company spanning the value chain from hatchery (production of Specific Pathogen Free shrimp seed) through farming, pre-processing, processing and logistics. It processes shrimp sourced from farms near its Andhra Pradesh plants into base, peeled, specialty and ready-to-cook/ready-to-eat products, and exports virtually all of its finished frozen shrimp output. It earns by selling these processed shrimp products to food companies, retail chains, restaurants, club stores and distributors across the USA, European Union, China and other geographies.

Segments

  • Hatchery (Shrimp Seed)
  • Shrimp Processing & Exporting
Total shrimp processing capacity
34,240 MTPA across two plants
Processing plants
2 (Kakinada and G. Ragampeta, Andhra Pradesh)
Cold storage capacity
~3,500 MT
Hatcheries and shrimp-seed capacity
3 hatcheries, 1.2-1.4 billion SPF seed capacity
Ready-to-Eat (RTE) capacity
10,000 MTPA at Unit 2 (G. Ragampeta)
Export markets
USA, European Union, China & Others
Founded 1997Headquarters Kakinada, Andhra Pradesh, India Company website

Guidance record · Q1 FY27

what the last two calls moved 16 tracked 5 delivered 2 missed 9 open
  • Regulatory Approval delivered said Q3 FY25 Promised: Secure long-pending EU approvals for new RTE facility Q1 FY27: Promise achieved in a prior quarter. No new updates.
  • Total Sales Volume missed said Q3 FY25 Promised: 12,000 tons for FY26 Q1 FY27: Promise relates to a past fiscal year. No new updates.
  • Capacity Utilization revised down said Q2 FY26 Promised: Minimum 50% over the next 1 year Q1 FY27: Utilization at 38% in Q1. Management revised FY27 guidance to maintaining 'above 35-40%', a downward revision from the original 50% target.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 0.4%, net profit up 144.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue200 231 197 258 238 +19%264 +14%168 −15%257 −0%
EBITDA4 4 7 15 11 +175%13 +225%13 +86%30 +100%
Net profit-2 0 2 9 12 +700%10 8 +300%22 +144%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +43.4% 1Y

₹200₹300₹400₹500Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Nov 2025Q3 FY26 — 16 Feb 2026Q4 FY26 — 2 Jun 2026Q1 FY27 — 18 Aug 2026

1Y: ₹257.04 on 10 Sept 2025 → ₹368.5. High ₹501.3 (7 May 2026), low ₹220.95 (9 Oct 2025).

How the price took the results

close before → close after

Q1 FY27
−5.7%
18 Aug
Q4 FY26
+1.9%
2 Jun
Q3 FY26
−1.4%
16 Feb
Q2 FY26
−0.1%
17 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 3.8% a year over 3 years, FY23 to FY26. Operating margin widened to 5.6%.

Year endingFY23FY24FY25FY26
Revenue₹1.0k Cr₹805 Cr₹814 Cr₹928 Cr
Operating profit₹53 Cr₹41 Cr₹26 Cr₹52 Cr
Operating margin5.1%5.1%3.2%5.6%
Interest₹15 Cr₹10 Cr₹9 Cr₹5 Cr
Depreciation₹19 Cr₹14 Cr₹16 Cr₹16 Cr
Net profit₹37 Cr₹15 Cr₹4 Cr₹39 Cr
Net margin3.5%1.9%0.5%4.2%
Cash from operations₹121 Cr₹11 Cr₹50 Cr₹96 Cr
Free cash flow₹100 Cr₹-1 Cr₹46 Cr₹90 Cr
ROCE11.0%5.0%2.0%10.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹31 Cr₹31 Cr₹31 Cr₹31 Cr₹31 Cr₹31 Cr
Reserves₹409 Cr₹437 Cr₹459 Cr₹466 Cr₹478 Cr₹497 Cr
Borrowings₹168 Cr₹167 Cr₹91 Cr₹107 Cr₹41 Cr₹6 Cr
Other liabilities₹49 Cr₹42 Cr₹33 Cr₹29 Cr₹81 Cr₹59 Cr
Total liabilities₹657 Cr₹678 Cr₹614 Cr₹633 Cr₹631 Cr₹593 Cr
Fixed assets₹250 Cr₹236 Cr₹242 Cr₹254 Cr₹241 Cr₹239 Cr
Capital work in progress₹15 Cr₹22 Cr₹18 Cr₹4 Cr₹1 Cr₹2 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹391 Cr₹420 Cr₹354 Cr₹376 Cr₹389 Cr₹352 Cr
Total assets₹657 Cr₹678 Cr₹614 Cr₹633 Cr₹631 Cr₹593 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −1.71 pp while FIIs added +1.65 pp. The shareholder count grew 2% to 39,978.

Promoters
72.6%
FIIs
5.8%
DIIs
0.6%
Public
20.9%

Since Jun 2025

  • Public −1.71 pp
  • FIIs +1.65 pp
  • DIIs +0.06 pp

How it drifted, 12 quarters

Over this window the public fell from 27.3% to 20.9% — −6.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 72.6%, FIIs 0.0%, DIIs 0.1%, Public 27.3%.Dec '23: Promoters 72.6%, FIIs 0.0%, Public 27.4%.Mar '24: Promoters 72.6%, DIIs 0.1%, Public 27.3%.Jun '24: Promoters 72.6%, FIIs 1.3%, DIIs 0.2%, Public 25.9%.Sep '24: Promoters 72.6%, FIIs 2.4%, DIIs 0.8%, Public 24.2%.Dec '24: Promoters 72.6%, FIIs 3.4%, DIIs 0.4%, Public 23.6%.Mar '25: Promoters 72.6%, FIIs 3.3%, DIIs 0.4%, Public 23.6%.Jun '25: Promoters 72.6%, FIIs 4.2%, DIIs 0.6%, Public 22.6%.Sep '25: Promoters 72.6%, FIIs 4.8%, DIIs 0.6%, Public 22.0%.Dec '25: Promoters 72.6%, FIIs 4.7%, DIIs 0.6%, Public 22.1%.Mar '26: Promoters 72.6%, FIIs 6.0%, DIIs 0.7%, Public 20.7%.Jun '26: Promoters 72.6%, FIIs 5.8%, DIIs 0.6%, Public 20.9%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Apex Frozen Foods Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Karuturi Subrahmanya Chowdary 30.86%unchanged
Satyanarayana Murthy Karuturi 28.54%unchanged
Padmavathi Karuturi 12.98%unchanged
Massachusetts Institute Of Technology Endowment4.17%unchanged
Vallepalli Hanumantha Rao 0.09%unchanged
Anitha Devi Sankuratri 0.08%unchanged
Karuturi Neelima Devi 0.08%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Apex Frozen Foods Limited

Guides on how to read this kind of business and the numbers that matter.