Avanti Feeds posts blockbuster performance in Q3FY18

Avanti Feeds consolidated revenue for the quarter came in at Rs 706.43 crore, registering an increase of 32 per cent YoY. This stellar revenue growth was mainly attributed to shrimp feed division (~78 per cent of total revenue) which recorded growth of ~35.8 per cent YoY. Its processed shrimp division also recorded growth of 20 per cent YoY. 

The company's EBITDA for the quarter rose by 123.1 per cent YoY to Rs 153.58 crore, with a corresponding margin expansion of 888 bps. The EBITDA margin for the quarter stood at 21.7 per cent. This margin expansion was aided by lower cost of materials consumed in proportion to sales (69.3 per cent in the current quarter as against 75.4 per cent in the corresponding quarter of last year). 

The PAT for the quarter came in at Rs 105.06 crore, an increase of 128.3 per cent YoY. This PAT growth was attributed to sharp jump in other income to Rs 16.17 crore, as against Rs 4.74 crore in the corresponding quarter of last year. 

Avanti Feeds is a manufacturer of prawn and fish feeds, shrimp processor and exporter. The company's core products/services are shrimp feed and processed shrimp.