Avanti Feeds posts weak numbers for Q4FY18

Avanti Feeds reported subdued results for the quarter. The revenue saw strong gain over the previous year, however the operating profits and bottom-line were weak for the quarter.

The revenue for the quarter rose 24.2 per cent yoy and 18.1 per cent qoq to Rs. 834 crore in Q4FY18 vs Rs. 672 crore in Q4FY17 and Rs. 706 crore in Q3FY18. This was largely aided by 19 per cent yoy increase in shrimp feed segment and 64 per cent yoy increase in processed shrimp business.

The EBITDA for the quarter declined by 7 per cent yoy and 23.5 per cent qoq to Rs. 117 crore in Q4FY18 vs Rs. 126 crore in Q4Y17 and Rs. 154 crore in Q3FY18.This was largely due to 46 per cent yoy increase in raw material costs. Similarly, the EBITDA margins for the quarter also contracted by 470 points to 14.1 per cent in Q4FY18 vs 18.8 per cent in Q4FY17.

The resultant bottom-line also declined by 3.1 per cent yoy and 18 per cent qoq to Rs. 86 crore in Q4FY18 vs Rs. 89 crore in Q4FY17 and Rs. 106 crore in Q3FY18.

For the full year the revenue grew by 29 per cent yoy and EBITDA grew by 106 per cent yoy. While the bottom-line grew by Rs. 466 crore