Annual Report Highlights No : 12
#Apexfrozen FY 22 Annual Report Highlights
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#Apexfrozen FY 22 Annual Report Highlights
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Apex Frozen Foods is one of Indiaβs leading processors and exporters of processed Shrimp. The
Company is a well-integrated player with presence across key areas of the Shrimp-processing value
chain.
Apex has processing capacity of 29240 MTPA and about 3500 MT
Company is a well-integrated player with presence across key areas of the Shrimp-processing value
chain.
Apex has processing capacity of 29240 MTPA and about 3500 MT
of cold storage capacity. Company
also has breeding capacity of 1.2 to 1.4 Billion Specific Pathogen Free (SPF) seed in its hatcheries.
also has breeding capacity of 1.2 to 1.4 Billion Specific Pathogen Free (SPF) seed in its hatcheries.
FY22 Key Highlights
Industry
The Global Marine Industry saw a recovery after a potentially challenging year that saw
several production and supply related disruptions due to Covid-19.
Shrimp prices have remained mostly stable, and this has helped the industry.
Industry
The Global Marine Industry saw a recovery after a potentially challenging year that saw
several production and supply related disruptions due to Covid-19.
Shrimp prices have remained mostly stable, and this has helped the industry.
In India, stable farm gate prices (at higher levels) has helped in enthusing the entire supply
chain, and production levels continued to rise at the end of Fiscal 2022.
chain, and production levels continued to rise at the end of Fiscal 2022.
Financials
Revenue: 927 crores (12% YoY Growth)
Volume: 12067MT (3% YoY Growth)
EBITDA: 92.1 crores (Degrowth of 6.5%)
EBITDA Margin: 9.9% (dropped from 11.9% in FY 21)
Profit margins impacted due to higher sales expenses (freight costs) and finance costs on
Revenue: 927 crores (12% YoY Growth)
Volume: 12067MT (3% YoY Growth)
EBITDA: 92.1 crores (Degrowth of 6.5%)
EBITDA Margin: 9.9% (dropped from 11.9% in FY 21)
Profit margins impacted due to higher sales expenses (freight costs) and finance costs on
account of higher working capital requirement
ROCE: 14% (down from 16% in FY 21)
The Board has recommended a dividend of 2.50/- per Equity Share
ROCE: 14% (down from 16% in FY 21)
The Board has recommended a dividend of 2.50/- per Equity Share
Ready-to-Eat Segment
Ready-to-Eat segment posted a 39% YoY growth
Share of value-added Ready-to-Eat product grew to 20% from 15% last year
Ready to Eat segment volume: 2364 MT
Apex is planning to expand the 5,000 MTPA of the RTE capacity at its existing plant to 10,000
MTPA,
Ready-to-Eat segment posted a 39% YoY growth
Share of value-added Ready-to-Eat product grew to 20% from 15% last year
Ready to Eat segment volume: 2364 MT
Apex is planning to expand the 5,000 MTPA of the RTE capacity at its existing plant to 10,000
MTPA,
which is estimated to be commissioned by end of Fiscal 2023.
This Expansion will take place Ragampeta plant. The expansion is not expected to be capex
heavy.
This Expansion will take place Ragampeta plant. The expansion is not expected to be capex
heavy.
Approach
Increasing sales with existing and new customers to enhance capacity utilisation and resultant operating efficiencies.
Focus on higher margin value added and RTE products.
Work on realisations as well as cost centres and finance costs.
Increasing sales with existing and new customers to enhance capacity utilisation and resultant operating efficiencies.
Focus on higher margin value added and RTE products.
Work on realisations as well as cost centres and finance costs.
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