Apex Frozen Foods Ltd

Apex Frozen Food Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Apex Frozen Foods Ltd

₹ 236 -1.61%
21 Nov 4:00 p.m.
apexfrozenfoods.in BSE: 540692 NSE: APEX
About

Apex Frozen Foods is an integrated producer and exporter of shelf stable quality aquaculture products.
Apex Frozen Foods Ltd, one of the leading producers and exporters of processed shrimp began its operations in 1995 [1] The company’s operations comprise hatchery, farming, pre-processing, processing, and exporting of shelf-stable quality aquaculture products like shrimp. [2]

Key Points

Product
The company produces variants of processed White shrimp (L. Vannamei) and Black Tiger shrimp (P. Monodon). These are primarily sold under the brands owned by the customers and through its own brands namely Bay Fresh, Bay Harvest, and Bay Premium.
Co. also manufactures ready-to-eat shrimp products. The share of the revenue from this segment has increased to 20% as of FY 22.
[1]

Website BSE NSE
  • Market Cap ₹ 735 Cr.
  • Current Price ₹ 236
  • High / Low ₹ 324 / 171
  • Stock P/E 155
  • Book Value ₹ 158
  • Dividend Yield 0.85 %
  • ROCE 4.96 %
  • ROE 2.92 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 31.4%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -1.67% over past five years.
  • Company has a low return on equity of 6.37% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Miscellaneous Industry: Aquaculture

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Quarterly Results

Figures in Rs. Crores

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
263.58 217.51 209.25 305.82 292.80 230.52 211.86 253.84 240.52 148.10 161.64 185.99 199.52
232.91 200.21 190.88 290.29 280.68 212.09 204.21 240.94 221.96 139.65 160.29 175.30 195.57
Operating Profit 30.67 17.30 18.37 15.53 12.12 18.43 7.65 12.90 18.56 8.45 1.35 10.69 3.95
OPM % 11.64% 7.95% 8.78% 5.08% 4.14% 7.99% 3.61% 5.08% 7.72% 5.71% 0.84% 5.75% 1.98%
8.78 2.80 0.43 19.22 16.28 0.15 -4.62 0.18 0.99 0.52 1.49 0.39 0.66
Interest 5.10 3.93 3.89 4.83 4.78 3.04 2.06 2.81 2.92 1.93 2.41 2.28 2.84
Depreciation 4.67 4.70 4.56 5.13 5.23 5.18 3.88 5.17 5.28 3.45 0.92 3.75 3.82
Profit before tax 29.68 11.47 10.35 24.79 18.39 10.36 -2.91 5.10 11.35 3.59 -0.49 5.05 -2.05
Tax % 25.77% 26.33% 29.47% 25.17% 26.10% 25.10% 38.14% 28.43% 26.52% 17.27% -26.53% 24.55% -18.54%
22.03 8.45 7.31 18.55 13.59 7.75 -4.02 3.65 8.34 2.97 -0.36 3.80 -1.67
EPS in Rs 7.05 2.70 2.34 5.94 4.35 2.48 -1.29 1.17 2.67 0.95 -0.12 1.22 -0.53
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
255 514 599 604 699 999 875 827 818 926 1,070 804 695
233 482 566 563 654 889 785 740 728 840 987 763 671
Operating Profit 22 33 33 40 44 110 90 87 91 86 83 41 24
OPM % 9% 6% 5% 7% 6% 11% 10% 11% 11% 9% 8% 5% 4%
0 0 5 5 11 20 21 19 8 6 2 3 3
Interest 6 8 10 10 11 9 7 11 16 17 15 10 9
Depreciation 3 5 0 5 6 9 11 15 22 19 19 15 12
Profit before tax 14 20 28 30 37 113 94 81 61 56 51 20 6
Tax % 34% 34% 34% 35% 33% 30% 35% 25% 27% 27% 29% 25%
9 13 18 19 25 79 61 61 44 41 36 15 5
EPS in Rs 6.28 6.71 7.65 8.03 10.47 25.31 19.46 19.40 14.17 13.14 11.48 4.67 1.52
Dividend Payout % -0% -0% -0% -0% 10% 8% 10% -0% 14% 19% 22% 54%
Compounded Sales Growth
10 Years: 5%
5 Years: -2%
3 Years: -1%
TTM: -26%
Compounded Profit Growth
10 Years: 1%
5 Years: -25%
3 Years: -31%
TTM: -70%
Stock Price CAGR
10 Years: %
5 Years: -5%
3 Years: -5%
1 Year: 10%
Return on Equity
10 Years: 13%
5 Years: 9%
3 Years: 6%
Last Year: 3%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 15 20 24 24 24 31 31 31 31 31 31 31 31
Reserves 9 18 32 51 85 271 324 365 409 437 459 466 462
63 79 90 79 110 85 108 163 168 167 91 107 115
7 24 19 24 57 43 47 68 49 42 33 29 42
Total Liabilities 94 141 165 179 277 431 510 627 657 678 614 633 650
26 40 52 55 83 111 115 280 250 236 242 254 248
CWIP -0 -0 -0 8 1 21 116 3 15 22 18 4 5
Investments -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0
68 101 113 116 193 299 279 344 391 420 354 376 397
Total Assets 94 141 165 179 277 431 510 627 657 678 614 633 650

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-11 9 12 37 14 33 49 58 13 36 121 11
-9 -17 -12 -16 -29 -58 -114 -44 -14 -10 -22 -8
19 8 -0 -21 17 85 7 -14 4 -27 -99 -2
Net Cash Flow -1 0 0 0 3 60 -58 1 3 -2 1 1

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 52 24 31 25 43 25 39 35 67 52 38 49
Inventory Days 44 47 39 48 44 53 67 117 106 120 88 126
Days Payable 11 15 9 13 21 14 20 29 20 12 8 7
Cash Conversion Cycle 85 56 60 60 66 64 86 123 154 160 118 168
Working Capital Days 80 52 55 52 69 66 87 113 145 145 101 151
ROCE % 28% 29% 27% 26% 40% 24% 18% 13% 12% 11% 5%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62% 72.62%
0.10% 0.06% 0.07% 0.06% 0.02% 0.10% 0.02% 0.02% 0.03% 0.00% 1.27% 2.43%
6.73% 6.89% 7.28% 7.28% 6.30% 5.90% 4.51% 0.08% 0.00% 0.05% 0.22% 0.76%
20.55% 20.43% 20.03% 20.04% 21.05% 21.37% 22.85% 27.27% 27.35% 27.32% 25.86% 24.18%
No. of Shareholders 40,73839,36238,18736,55137,63337,89938,28840,28538,94742,15539,85642,451

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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