StockWatch
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AVANTI FEEDS LTD.-$

BSE: 512573

P/L Snapshot

Q1 FY27 · standalone

vs Q4 FY26·vs Q1 FY26
Revenue
1.6K
+51.2%+26.3%
Expenditure
1.5K
+63.5%+42.3%
Net Profit
84.23
-21.2%-49.6%
OPM %
4.52%
-6.84pp-10.73pp

Shareholding

Pattern breakdown

P/L Trends

(in crores)

RevenueExpenditureNet Profit
0.00452.07904.141.4K1.8KQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Price Chart
Reports

Growth masked by inflation: the ₹1,900 Crore quarter raw materials won

margin compression · raw material inflation · feed pricing

Result verdictFollow-upQ1 FY2728 Aug 20266 minFMCG

Revenue beat, profit crushed: raw material inflation overwhelms pricing

margin compression · raw material inflation · pricing lag

TranscriptDeep diveQ1 FY2728 Aug 20266 minFMCG

Avanti Feeds Q1FY27: consolidated PAT falls 37% YoY as feed-cost inflation squeezes margins

aquaculture · shrimp feed · margin compression

ResultsQ1 FY2713 Aug 20263 minFMCG
Latest
Quarterly Result13 Aug, 3:35 pm

Avanti Feeds Q1FY27: consolidated PAT falls 37% YoY as feed-cost inflation squeezes margins

Avanti Feeds' consolidated PAT fell 37.4% YoY to ₹116.3 Cr (₹185.7 Cr in Q1FY26) even as revenue grew 18.3% YoY to ₹1,899.9 Cr — the quarter's growth was entirely a topline story, with profitability moving the other way. Sequentially PAT also declined 16.2% from Q4FY26's ₹138.9 Cr. EPS (basic) came in at ₹7.58 versus ₹13.09 a year ago and ₹9.19 last quarter. Neither the current nor the year-ago quarter carried an exceptional item, so the comparison is on a like-for-like basis. The compression sits squarely on the cost line: cost of materials consumed rose to 81.1% of revenue from operations, up from 69.1% a year ago, pulling net margin down to 5.9% of total income from 11.2% YoY and 9.2% QoQ. This tracks exactly what management flagged on the June concall — steep increases in fish meal and soya bean meal costs as the central FY27 risk, with feed price hikes floated as a possible offset that has evidently not yet been enough to protect margins. Standalone (the core feed business) shows a steeper hit — PAT down 49.6% YoY to ₹84.2 Cr even though standalone revenue grew faster, +26.7% YoY, than the consolidated number — implying the subsidiaries partly cushioned the group figure. The divergence traces to the processed-shrimp/export segment (Avanti Frozen Foods), where segment revenue fell about 10% YoY to ₹333.7 Cr, working against the feed segment's growth. Management's FY27 guidance (from the Q4FY26 call) called for 10-15% growth in both revenue and profit; Q1 delivered on revenue but missed the profit leg badly, putting the full-year target off-track one quarter in — a sharp H2 recovery would be needed to still hit it. Against TradingView's algo consensus (EPS ~₹11.4, revenue ~₹1,810 Cr), the print beat on revenue but missed EPS by roughly a third, consistent with a margin problem rather than a demand shortfall. No standalone press release beyond the regulatory filing was available to cross-check management's own framing of the quarter. The quarter's other corporate actions — the FY26 dividend record date (Aug 7) and the AGM scheduled for Aug 14 — are calendar items unconnected to this print. Going into Q2, the trajectory depends on whether feed prices can be raised without hurting volumes and whether the processed-shrimp export segment stabilizes; a 37% YoY profit decline in the opening quarter of the year is a meaningful hole to dig out of against the 10-15% full-year profit growth management has guided.

13 Aug 2026, 03:35 pm

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