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Apex Frozen Foods Q1 FY27 saw EBITDA up 79% to ₹33 crore (12.7% margin) and PAT up 138% to ₹22 crore. Strong realization (₹930/kilo, +15% YoY) drove this, countering lower volumes from labor/transport issues. Management expects Q2 volume recovery and stable margins, buoyed by realizations and cost efficiency. US sales now 70% due to easing tariffs. Strategic focus remains on value-added products (RTE target 18-20% of sales) and market diversification. Order book is solid, with plans for consistent 35-40% capacity utilization. Management is confident in sustainable growth.