Avanti Feeds LimitedQ1 FY27 Results & Financial Update
Avanti Feeds Limited: Q1 FY27 consolidated results and company financials – revenue ₹1,899.86 Cr, PAT ₹116.31 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Avanti Feeds Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Profit before tax was ₹156.67 Cr for the reported quarter. EPS was ₹7.58 for the reported quarter.
For Q1 FY27, consolidated gross income reached INR 1,966 crores, representing an increase of about 30% compared to INR 1,516 crores in Q4 FY26, and a 19% increase compared to INR 1,657 crores in Q1 FY26. Consolidated PBT stood at INR 157 crores in Q1 FY27, reflecting a 15% decrease from INR 184 crores in Q4 FY26 and a 37% decrease from INR 249 crores in Q1 FY26.
Standalone gross income for the Feed division in Q1 FY27 was INR 1,615 crores, up 51% sequentially from INR 1,069 crores in Q4 FY26 driven by an increase in sales quantity by 70,126 MT, and up 27% from INR 1,279 crores in Q1 FY26 driven by an increase of 28,287 MT. Feed PBT for Q1 FY27 was INR 114 crores compared to INR 139 crores in Q4 FY26 and INR 224 crores in Q1 FY26, pressured by steep raw material price increases.
Shrimp Processing and Export division gross income for Q1 FY27 was INR 350 crores, down 22% sequentially from INR 446 crores in Q4 FY26 due to a 15% drop in sales volume and lower average selling price realizations following the withdrawal of reciprocal tariffs on February 24, 2026. PBT before exceptional items stood at INR 45 crores in Q1 FY27, flat compared to INR 48 crores in Q4 FY26 due to operational efficiencies, and higher than INR 25 crores in Q1 FY26.
Profit after tax was ₹116.31 Cr for the reported quarter. EPS was ₹7.58 for the reported quarter.
01 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹1,899.86 Cr |
| Total income | ₹1,965.58 Cr |
| Profit before tax | ₹156.67 Cr |
| Profit after tax | ₹116.31 Cr |
| EPS | ₹7.58 |
02 · Why it moved
Why the quarter looked the way it did
What drove margins
The company implemented a feed price hike of around 10% on June 19, 2026, to mitigate surging raw material costs.
Current purchase prices stand at INR 225 per kg for fish meal, INR 71 per kg for soybean meal, and INR 33 per kg for wheat flour.
03 · Demand, customers & order book
Where demand is coming from
During FY25/26, total frozen shrimp exports reached 7,92,647 MT worth USD 5,624.48 million, with the USA taking 33%, China 21%, European Union 17%, Southeast Asia 11%, Japan 5%, Middle East 3%, and other countries 10%.
04 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The company has budgeted approximately INR 175 crores of total investment for the state-of-the-art pet food manufacturing facility near Hyderabad, having invested around INR 25 crores to purchase converted land. Applications for Consent for Establishment have been filed.
05 · Reported developments
What changed operationally
Feed sales volume increased significantly to 1,93,852 MTs in Q1 FY27 compared to 1,23,725 MTs in Q4 FY26 and 1,65,564 MTs in Q1 FY26.
Aquaculture culture activity is progressing very well with favorable monsoon conditions across India easing El Nino effects, supporting healthy shrimp crop progress and rising farm-gate prices.
Sales for the Avant Furst pet food brand increased to INR 180 lakh in Q1 FY26/27 compared to INR 151 lakh in Q4 FY25/26, reflecting growing acceptance across cat and dog food segments and expanding e-commerce and geographic reach.
06 · Pressure points & risks
What is not going smoothly
Average consumption prices for key raw materials surged; fish meal rose to INR 153 per kg in Q1 FY27 from INR 123 per kg in Q4 FY26 and INR 93 per kg in Q1 FY26, while soybean meal rose to INR 58 per kg from INR 49 per kg in Q4 FY26 and INR 40 per kg in Q1 FY26.
Feed division PBT margin on revenue dropped to 7.06% in Q1 FY27 compared to about 13% in Q4 FY26 and 17% in Q1 FY26 due to higher input costs and supply side constraints.
Shrimp export volumes to the U.S. declined by 17.9% YoY, and average selling price realizations fell following the withdrawal of reciprocal tariffs effective February 24, 2026.
07 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Refund applications have been declared via customs brokers and legal counsel, but the U.S. Customs and Border Protection (CBP) is withholding processing pending the lifting of suspension status on ADD and CVD reviews.
08 · Management guidance & targets
What management is targeting from here
Total feed sales for FY27 are estimated to be around 5,85,000 MTs, compared to 5,62,060 MTs in FY26.
Company shrimp exports for FY27 are estimated to reach around 19,000 MTs, compared to 16,976 MTs in FY26.
09 · Management call deep dive
What management said on the conference call
Operating takeaways
8 key pointsThe government of Andhra Pradesh has constituted a committee with a Big Four consultant to evaluate balancing mechanisms for feed pricing, raw material availability, and farmer sustainability.
During FY25/26, total frozen shrimp exports reached 7,92,647 MT worth USD 5,624.48 million, with the USA taking 33%, China 21%, European Union 17%, Southeast Asia 11%, Japan 5%, Middle East 3%, and other countries 10%.
The company has budgeted approximately INR 175 crores of total investment for the state-of-the-art pet food manufacturing facility near Hyderabad, having invested around INR 25 crores to purchase converted land. Applications for Consent for Establishment have been filed.
The company implemented a feed price hike of around 10% on June 19, 2026, to mitigate surging raw material costs.
Current purchase prices stand at INR 225 per kg for fish meal, INR 71 per kg for soybean meal, and INR 33 per kg for wheat flour.
Refund applications have been declared via customs brokers and legal counsel, but the U.S. Customs and Border Protection (CBP) is withholding processing pending the lifting of suspension status on ADD and CVD reviews.
Total feed sales for FY27 are estimated to be around 5,85,000 MTs, compared to 5,62,060 MTs in FY26.
Company shrimp exports for FY27 are estimated to reach around 19,000 MTs, compared to 16,976 MTs in FY26.
Important analyst Q&A
2 key pointsManagement explained that farm-gate prices act as a balancing factor between global processing prices and farmer economic viability, shifting based on regional shrimp supply and seasonal harvest availability.
Management confirmed that Q2 results will largely reflect preceding cost pressures before the full financial benefits of the June 19 price hike and potential government interventions take effect.
10 · Key Q&A
The quarter, answered directly
What is the clearest takeaway from Q1 FY27?
Profit before tax was ₹156.67 Cr for the reported quarter. EPS was ₹7.58 for the reported quarter.
What drove revenue or demand?
During FY25/26, total frozen shrimp exports reached 7,92,647 MT worth USD 5,624.48 million, with the USA taking 33%, China 21%, European Union 17%, Southeast Asia 11%, Japan 5%, Middle East 3%, and other countries 10%.
What mattered most for margins or profitability?
The company implemented a feed price hike of around 10% on June 19, 2026, to mitigate surging raw material costs.
What changed operationally beyond the headline numbers?
The company has budgeted approximately INR 175 crores of total investment for the state-of-the-art pet food manufacturing facility near Hyderabad, having invested around INR 25 crores to purchase converted land. Applications for Consent for Establishment have been filed.
What is management guiding or targeting from here?
Total feed sales for FY27 are estimated to be around 5,85,000 MTs, compared to 5,62,060 MTs in FY26.
What are the main pressure points disclosed for the quarter?
Average consumption prices for key raw materials surged; fish meal rose to INR 153 per kg in Q1 FY27 from INR 123 per kg in Q4 FY26 and INR 93 per kg in Q1 FY26, while soybean meal rose to INR 58 per kg from INR 49 per kg in Q4 FY26 and INR 40 per kg in Q1 FY26.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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