Apex Frozen Foods Ltd. · NSE:APEX
Apex Frozen Foods — Q1 FY2025 Earnings Presentation
23 slides from Apex Frozen Foods's earnings presentation, Aug 12, 2024
Slide 1: Exchange filing cover letter for Q1FY25 investor presentation
Date: 12th August, 2024. To To The General Manager, The General Manager, Department of Corporate Services, Listing Department, Bombay Stock Exchange Limited, National Stock Exchange of India Limited PhirozeJeejeebhoy Towers, Exchange Plaza, Plot No C/1, G Block, Dalal Street, BandraKurla Complex, Mu
Slide 2: Apex Frozen Foods Result Presentation Q1FY25
Apex Frozen Foods Result Presentation Q1FY25
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Apex Frozen Foods Ltd (the “Company”) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall not f
Slide 4: Table of Contents
Table of Contents 01 Key Business Updates Q1FY25 02 Company At a Glance 03 Annexure 3
Slide 5: Key Business Updates Q1FY25
Key Business Updates Q1FY25
Slide 6: Key Highlights – Q1FY25
Key Highlights – Q1FY25 • Industry Updates: › The Indian Shrimp industry which has been facing challenges led by subdued demand from key markets such as the USA, was further exacerbated by the imposition of Countervailing Duties (CVD) by the USA, and the ongoing geopolitical tensions led sea transpo
Slide 7: Operational Highlights – Q1FY25
Operational Highlights – Q1FY25 Total Shrimp Sales (MT) Average Realization (Rs/Kg)* Geographical Mix (%) 7% 3,447 39% 54% 2,571 697 684 2,302 663 Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25 USA European Union China & Others *Average sales realization = Net Revenue (excluding export incentives) / Tota
Slide 8: Profit & Loss Highlights – Q1FY25
Profit & Loss Highlights – Q1FY25 Particulars (Rs Mn) Q1FY25 Q1FY24 Y-o-Y % Q4FY24 Q-o-Q % FY24 Net Revenue 1,860 2,538 1,616 8,041 Other Income 4 2 15 32 Total Income 1,864 2,540 -27% 1,631 14% 8,073 Raw Material Cost 1,273 1,816 1,155 5,627 Employee Expenses 112 125 136 545 Other Expenses 368 468
Slide 9: Profit & Loss - Annual
Profit & Loss - Annual Particulars (Rs Mn) FY21 FY22 FY23 FY24 Net Revenue 8,185 9,262 10,703 8,041 Other Income 75 57 17 32 Total Income 8,260 9,319 10,720 8,073 Raw Material Cost 5,531 6,150 7,419 5,627 Employee Expenses 398 430 460 545 Other Expenses 1,346 1,818 1,993 1,456 EBITDA 985 921 848 444
Slide 10: Balance Sheet Highlights
Balance Sheet Highlights Liabilities (Rs Mn) Mar-21 Mar-22 Mar-23 Mar-24 Assets (Rs Mn) Mar-21 Mar-22 Mar-23 Mar-24 Shareholder’s Funds 4,398 4,684 4,900 4,971 Non-current Assets 2,708 2,656 2,803 2,708 Share Capital 313 313 313 313 Net Block 2,504 2,360 2,424 2,538 Reserves & Surplus 4,086 4,372 4,
Slide 11: Key Growth Drivers
Key Growth Drivers Well Experienced Management: Current Capacity Offers Headroom for Growth › Experience of ~3 decades in the › Sales (MT) to Capacity ratio aquaculture industry. below 50% › Good track record of providing 1 2 › Also, awaiting regulatory top-quality products. approvals for selling ou
Slide 12: Company at a Glance
Company at a Glance
Slide 13: The Growth Journey So Far…
The Growth Journey So Far… Commencement Export Market Capability Well-placed to Capitalize on Stage Penetration Expansion the Growth Opportunities (1995) (2004 – 2012) (2013 – 2021) (2022 – 24) Commenced business • Owned Processing Plant at • IPO and Listing on BSE & NSE in • Improved Product Mix: o
Slide 14: …To Having Built a Well-Integrated Operations
…To Having Built a Well-Integrated Operations Key Export Markets – FY24 One Of The Leading Exporters Of Processed Shrimp In India Catering to wide array of customers such as Food Companies, Retail Chains, Restaurants, Club Stores and Distributors spread across multiple geographies in the USA, Europe
Slide 15: Well Integrated Across Value Chain
Well Integrated Across Value Chain 1 2 3 4 Shrimp Seed Shrimp Pre-processing Logistics (Hatchery) Farming and Processing • Production of Specific • Cultivation of shrimp, which • Sizing and grading • Inhouse Cold Storage Pathogen Free (SPF) shrimp are reared in ponds in a • Deheading (Headless Shell
Slide 16: Strategically Located Facilities
Strategically Located Facilities Vizianagaram Srikakulam Andra Pradesh Three Hatcheries with a total capacity of 1.2-1.4 billion Vishakhapatnam SPF seed West Godavari East Godavari Two Processing plants with a total capacity of 34,240 Eluru Kakinada MTPA, along with Cold Storage capacity of ~3,500 M
Slide 17: Processing Capacity Offers Headroom for Growth
Processing Capacity Offers Headroom for Growth Total Capacity 34,240 MTPA Unit 1 – Kakinada, Andhra Pradesh Unit 2 - G. Ragampeta, Andhra Pradesh Ready-to-Cook products: 9,240 MTPA Ready-to-Cook products: 15,000 MTPA Cold Storage: 1,000 MT Ready-to-Eat products: 10,000 MTPA Cold Storage: 2,500 MT 10
Slide 18: Product Offering – Moving up the Value Chain
Product Offering – Moving up the Value Chain READY-TO-EAT (RTE) SPECIALTY PRODUCT Cooked Peeled & De-veined Tail–on PEELED PRODUCT Butterfly shrimp Cooked in Shell BASE PRODUCT Peeled, Deveined, Tail-on Skewered shrimp Shrimp Rings Peeled, Un-deveined, Tail-on Seasoned shrimp Dusted and Breaded Head
Slide 19: Annexure
FA APEX FROZEN FOODS LTD Annexure
Slide 20: India’s Seafood Exports Driven by Surging Shrimp Exports
India’s Seafood Exports Driven by Surging Shrimp Exports 1,735 1,782 1,377 1,393 1,369 1,290 1,135 1,149 1,051 1,024 1,066 928 984 946 813 862 778 641 811 637 678 559 603 700 682 694 572 673 700 662 477 548 728 711 716 566 614 652 590 301 358 374 434 126 131 151 189 229 FY09 FY10 FY11 FY12 FY13 FY14
Slide 21: Key Considerations for the Sector
Key Considerations for the Sector Demand Slowdown Disease Related Volatile Pricing Being an export-oriented Highly susceptible to Global imbalances in sector, any slowdown in outbreak of diseases, which demand-supply can consumption in key can have a detrimental impact pricing. Exchange markets like
Slide 22: Share Capital Information
Share Capital Information NSE / BSE code APEX / 540692 Shareholding Pattern as on June 2024 CMP (Rs/share) (as on 12-Aug-24) 276 26% Market Cap (Rs Mn) 8,547 1% # Shares (Mn) 31.25 0% 73% Face Value (Rs/share) 10.00 Sector Aquaculture Location Kakinada, AP Promoters FIIs DIIs Public 21
Slide 23: Thank You
Thank You Mr Chowdary Karuturi, Managing Director Apex Frozen Foods ir@apexfrozenfoods.com CIN: L15490AP2012PLC080067 Pooja Sharma | Suyash Samant Stellar IR Advisors Pvt. Ltd. pooja@stellar-ir.com | suyash@stellar-ir.com 22