Avanti Feeds Limited (AVANTIFEED) Financial Results — Revenue ₹14,677 Cr

Investor Takeaways

Revenue grew 6.12% YoY to ₹14,677 crores in Q4 FY26.

PAT declined 11.7% YoY to ₹1,389 crores with margins at 9.5%.

EBITDA margin improved to 13.6% from 11.0% in Q4 FY25.

⚠️ Profitability under pressure from elevated raw material costs.

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹14,677 Cr	+6.12%
Net Profit	₹1,389 Cr	-11.7%
EBITDA Margin	13.6%	+2.6 pp
EPS	Not available

What Changed

Avanti Feeds reported consolidated revenue of ₹14,677 crores for Q4 FY26, up 6.12% YoY, driven by shrimp processing growth. PAT declined 11.7% YoY to ₹1,389 crores with margins at 9.5%. EBITDA margin improved to 13.6% from 11.0% in Q4 FY25. The company highlighted strong export demand and pricing gains but noted pressure from elevated raw material costs. Forward guidance was not provided in the presentation.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Avanti Feeds Limited	37.47	Not available	Not available	18,028.02
Hindustan Unilever Limited	36.79	29.38%	27.39%	5,33,874.13
ITC Limited	11.06	50.02%	38.91%	3,87,724.39
Nestle India Limited	84.59	81.33%	93.64%	2,75,845.36

Avanti Feeds trades at a P/E multiple in line with Hindustan Unilever but significantly below Nestle India’s valuation, reflecting market expectations of lower profitability growth and higher operational volatility in the seafood processing segment.

Risks & Concerns

Profitability is under pressure from elevated raw material costs, as explicitly noted in the filing.

No forward guidance was provided, limiting visibility into future margin trajectory.

PAT margin declined to 9.5% from previous periods, indicating sensitivity to input cost fluctuations.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	1,365.77	140.81	11.74
Q2FY25	1,355.09	121.48	10.02
Q1FY25	1,506.27	137.57	10.63
Q4FY24	1,283.51	112.6	10.09

The reported Q4 FY26 revenue of ₹14,677 crores appears inconsistent with the quarterly trend data provided, which shows revenue in the range of ₹1,283.51 Cr to ₹1,506.27 Cr for prior quarters. The scale discrepancy suggests a potential unit mismatch (e.g., FY26 vs. FY25 labeling or Cr vs. billion units), but only the provided consolidated revenue figure for Q4 FY26 is used for analysis. Net profit and OPM figures from the trend do not align with the reported PAT of ₹1,389 Cr and 9.5% margin, indicating possible data misalignment in the source. For consistency, the analysis relies solely on the explicitly stated Q4 FY26 figures: ₹14,677 Cr revenue, ₹1,389 Cr PAT, and 13.6% EBITDA margin.

Conclusion

Avanti Feeds demonstrated revenue growth supported by export demand and pricing power, but profitability declined due to input cost pressures. While EBITDA margin improved, net profit contraction and lack of forward guidance warrant caution. The company operates at a valuation comparable to large FMCG peers but faces higher operational volatility typical of agri-commodity businesses. Investors should monitor input cost trends and margin recovery strategies in upcoming quarters.

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