Avanti Feeds Limited — PPTs, 22-02-2025: Investor Presentation

**Financial Highlights:** In Q3 FY25, Avanti Feeds reported a revenue increase of 9% YoY, reaching ₹3,999 crore, driven largely by a 14% growth in shrimp feed volume. Consolidated PAT surged 69% YoY to ₹1,408 crore, with PAT margins improving by 366 bps to 14.6%. EBITDA also saw significant growth, with a margin expansion to 16.5% due to higher utilization levels.

**Strategic Initiatives and Growth Drivers:** The government allocated ₹2,704 crore to the fisheries sector for FY26, representing a 3% increase from the previous year. This funding, part of the Pradhan Mantri Matsya Sampada Yojana, is intended to enhance fisheries sustainability and production capabilities.

**Business Developments:** Shrimp feed production rose significantly, with sales volumes increasing to 132,049 MT, marking a 14% YoY growth. Meanwhile, processed shrimp revenue remained stable despite a slight decline in volume due to increased price realization and favorable forex rates.

**Market Position and Competitive Advantage:** Avanti Feeds continues to gain market share in processed shrimp exports, particularly in Europe and Asia. This trend is bolstered by a strong demand for shrimp and improved average selling prices.

**Investor Implications:** The positive trajectory in revenue and profit margins, alongside government support for the fisheries sector, suggests a favorable outlook for Avanti Feeds. Investors should monitor the company's performance in the context of the strong demand dynamics in the aquaculture industry.