Q3FY19: Apex Frozen PAT down 39.72 per cent

The company reported a PAT of Rs. 11.35 crore with an EPS of Rs. 3.63 for the quarter ended December 2018 as against Rs. 18.83 crore with an EPS of Rs. 6.02 per share for the corresponding quarter last year, registering a degrowth of 39.72 per cent per cent.

Apex Frozen’s revenues came in at Rs.220.95 crore for the quarter ended December 2018 as against Rs. 267.18 crore for the corresponding quarter last year down 17.27 per cent YoY. 

The company is an integrated producer and exporter of shelf stable aquaculture products. The company produces two kinds of shrimps namely whiteleg shrimp and black tiger shrimp. The black tiger shrimp is also known as giant tiger prawn or Asian tiger prawn and the whiteleg shrimp is also known as Pacific white shrimp which are sold under the brands: Bay Fresh, Bay Harvest and Bay Premium. The company provides ready-to-cook products to restaurants, club stores, retail chains and food companies. The company exports its products in the US, the UK and other European countries.

On Thursday, the stock of Apex Frozen Foods closed at Rs. 311.7 per share and made an intraday high and low of Rs. 328.5 and Rs.304 on the NSE. The stock had hit its 52-week high of Rs. 809.9 on February 9, 2018 and its 52-week low was Rs. 293.25 in January 30, 2019 on the NSE.