Apex Frozen Foods Ltd. · NSE:APEX
Apex Frozen Foods — Q4 FY2024 Earnings Presentation
20 slides from Apex Frozen Foods's earnings presentation, May 26, 2024
Slide 1: Cover letter to stock exchanges
Date: 26th May, 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, Mumba
Slide 2: Apex Frozen Foods Result Presentation Q4 & FY24
Apex Frozen Foods Result Presentation Q4 & FY24
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: Key Business Updates Q4 & FY24
1 Key Business Updates Q4 & FY24 3
Slide 5: Financial Highlights – Q4 & FY24
Financial Highlights – Q4 & FY24 Sales Volumes at 2,302 MT in Q4FY24 and 10,949 MT in FY24, were impacted due to subdued demand from our key market, the USA. Amidst this weak sentiment, the preliminary Countervailing Duties (CVD) imposed by the USA on Indian frozen shrimp at 4.36%, acted as an addit
Slide 6: Sales Volume Break-up
Sales Volume Break-up Shrimp Sales (MT) - Quarterly Shrimp Sales (MT) – Yearly Geographical Mix (%) – FY24 2,851 2,117 2,302 13,044 10,949 6% 30% 82% 88% 78% 84% 89% 64% 18% 22% 16% 12% 11% Q4FY23 Q3FY24 Q4FY24 FY23 FY24 RTE RTC RTE RTC USA European Union China & Others 5
Slide 7: Income Statement Highlights
Income Statement Highlights Particulars (Rs Mn) Q4FY24 Q4 FY23 Y-o-Y % Q3FY24 Q-o-Q % FY24 FY23 Y-o-Y % Net revenue* 1,616 2,119 1,481 8,041 10,703 Other income 15 -46 5 32 17 Total Income 1,631 2,072 -21% 1,486 10% 8,073 10,720 -25% Raw material costs 1,155 1,593 967 5,627 7,419 Employee expenses 1
Slide 8: 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 9: Key Growth Drivers
Key Growth Drivers 1 Improving Product Mix with 2 Current Capacity Offers Growing Share of RTE sales Headroom for Growth Enhanced RTE capacity from 5,000 MT to Sales (MT) to Capacity ratio below 50% 10,000 MT at marginal capex; The additional capacity of 5,000 MT was commissioned by end of May-23 Ad
Slide 10: Company At a Glance
2 Company At a Glance 9
Slide 11: The Growth Journey So Far…
The Growth Journey So Far… Leased Capacity Owned Capacity ~1,200 MT 34,240 MT ▪ IPO and Listing on BSE & NSE in Sep’17 ▪ Backward Integration: Three owned ▪ Improved Product Mix: Share of Hatcheries in AP over 2016-19 RTE products in overall sales ▪ Focus on VAP: Pre-processing unit in increased fro
Slide 12: …To Having Built a Well-Integrated Operations
…To Having Built a Well-Integrated Operations One Of The Leading Exporters Of Processed Shrimp In India Key Export Markets – FY24 6% Catering to wide array of customers such as Food 30% USA Companies, Retail Chains, Restaurants, Club Stores and Europe Distributors spread across multiple geographies
Slide 13: Strategically Located Facilities
Strategically Located Facilities E n a b l i n g s m o o t h t ra n s i t i o n o f p ro d u c t s t o t h e n e x t s ta g e Three Hatcheries with a total capacity of 1.2-1.4 billion SPF seed Two Processing plants with a total capacity of 34,240 MTPA, along with Cold Storage capacity of ~3,500 MT L
Slide 14: Processing Capacity Offers Headroom for Growth
Processing Capacity Offers Headroom for Growth Total Capacity – 34,240 MTPA Process: Washing, Weighing, Beheading, Grading, Peeling, De- veining, Cooking and Freezing Unit 2 - G. Ragampeta, AP Unit 1 - Kakinada, AP Ready-to-Cook: 15,000 MTPA Ready-to-Cook: 9,240 MTPA Ready-to-Eat: 10,000 MTPA* Cold
Slide 15: 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 Skewered shrimp Shrimp Rings BASE PRODUCT Peeled, Deveined, Tail-on Seasoned shrimp Dusted and Breaded Peeled, Un-deveined, Tail-on Head
Slide 16: Annexures
3 Annexures 15
Slide 17: India's Seafood Exports Driven by Surging Shrimp Exports
India’s Seafood Exports Driven by Surging Shrimp Exports Frozen Shrimp Other Seafood Total Seafood 1,735 1,377 1,393 1,369 1,290 1,135 1,149 984 1,051 1,024 928 946 813 862 778 641 811 637 603 678 559 700 682 694 572 673 700 548 662 477 614 652 590 728 711 434 566 229 301 358 374 126 131 151 189 FY0
Slide 18: Key Considerations for the Sector
Key Considerations for the Sector Demand Slowdown Disease Related Volatile Pricing Being an export-oriented sector, Global imbalances in demand- Highly susceptible to outbreak of any slowdown in consumption in supply can impact pricing. diseases, which can have a key markets like the USA, EU and Exc
Slide 19: Share Capital Information
Share Capital Information Shareholding Pattern as on March 31, 2024 NSE / BSE code APEX / 540692 CMP (Rs/share) (as on 24-May-24) 216 27.32% Market Cap (Rs Mn) 6,755 # Shares (Mn) 31.25 0.05% Face Value (Rs/share) 10.00 72.62% Sector Aquaculture Location Kakinada, AP Promoter Institutions Others Sou
Slide 20: Thank You
Thank You Apex Frozen Foods Stellar Investor Relations Mr Chowdary Karuturi, Managing Director Ms Pooja Sharma / Ms Amritha Poojari ir@apexfrozenfoods.com pooja.sharma@stellar-ir.com / amritha@stellar-ir.com CIN: L15490AP2012PLC080067 19