Apex Frozen Foods Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹911 Cr
- P/E
- 18.38
- ROE
- 7.60%
- PEG
- 5.89
- Price to sales
- 0.97
- Debt to equity
- 0.01
- 52W high / low
- ₹501 / ₹234
- Sales growth (5Y)
- 2.61%
- EBITDA margin
- 7.32%
- Net profit margin
- 4.17%
- Promoter holding
- 72.62%
- Sales (last year)
- ₹927 Cr
Incorporated in 1995, Apex Frozen Foods Ltd is in the business of processing and exporting of Shrimps[1]
Guidance scorecard · Q1 FY27 call
What Apex Frozen Foods Ltd's management guided
and where it ranks in Food Products
RevenueQ1 FY27 call
10–20%- Apex Frozen Foods targets around 12,000 metric tons of production for FY27, aiming to recover from Q1 labor shortages and supply issues.
- They expect stable or improved capacity utilization of 35%-40% through FY27, supported by diversified markets and order book strength.
- Plans to increase sales volumes beyond 14,000 to 15,000 metric tons in FY28 and FY29, contingent on favorable global trade conditions and absence of new tariff issues.
- Ready-to-Eat (RTE) product sales expected to grow from 16% volume share in Q1 FY27 to about 18%-20% for the current year, improving margins.
- New market expansions are ongoing: Japan business initiated, Russia expected to start by Q3 FY27, Australia pending customer audits.
2 more points from Apex Frozen Foods Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Apex Frozen Foods Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
- The company is focused on improving capacity utilization, aiming for around 12,000 metric tons production in FY27 and targeting 14,000-15,000 metric tons in FY28/FY29.
- There is an emphasis on diversifying products and markets, including new product development with customers (details proprietary).
- Internal changes and cost efficiency measures have been implemented to support better utilization and margins.
2 more points from Apex Frozen Foods Ltd's call on capex
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FundraisingQ1 FY27 call
See what Apex Frozen Foods Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- The current order book for Apex Frozen Foods Limited is strong and secured until the middle of Q3 of FY27.
- The order book position is dynamic and can change due to equipment, shipment delays, or supply-related issues.
- Despite these potential fluctuations, the company is confident with the current order book status through mid-Q3.
- This solid order book underpins the company’s plans for improved capacity utilization and production scaling.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Food Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Food Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹459 Cr | 7.9 | |
| 2 | 40%+ | Up 2%+ | ₹454 Cr | 79.8 | |
| 3 | 40%+ | Flat | ₹1,061 Cr | 48.2 | |
| 4 | 40%+ | Flat | ₹157 Cr | 10.5 | |
| 5 | 20–40% | Up 2%+ | ₹671 Cr | 48.3 | |
| 6 | 20–40% | Up 2%+ | ₹265 Cr | 7.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Food Products rankingFinancials of Apex Frozen Foods Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Apex Frozen Foods Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 231 | 212 | 254 | 241 | 148 | 162 | 186 | 200 | 231 | 197 | 258 | 238 | 264 |
| Expenses + | 212 | 204 | 241 | 222 | 140 | 160 | 175 | 196 | 227 | 191 | 243 | 227 | 251 |
| Operating Profit | 18 | 8 | 13 | 19 | 8 | 1 | 11 | 4 | 4 | 7 | 15 | 11 | 13 |
| OPM % | 8% | 4% | 5% | 8% | 6% | 1% | 6% | 2% | 2% | 3% | 6% | 5% | 5% |
| Other Income + | 0 | -5 | 0 | 1 | 1 | 1 | 0 | 1 | 2 | 1 | 3 | 9 | 4 |
| Interest | 3 | 2 | 3 | 3 | 2 | 2 | 2 | 3 | 3 | 1 | 2 | 1 | 1 |
| Depreciation | 5 | 4 | 5 | 5 | 3 | 1 | 4 | 4 | 4 | 4 | 4 | 4 | 3 |
| Profit before tax | 10 | -3 | 5 | 11 | 4 | -0 | 5 | -2 | -0 | 3 | 13 | 16 | 13 |
| Tax % | 25% | 38% | 28% | 27% | 17% | -27% | 25% | -19% | 5% | 30% | 30% | 24% | 24% |
| Net Profit + | 8 | -4 | 4 | 8 | 3 | -0 | 4 | -2 | -0 | 2 | 9 | 12 | 10 |
| EPS in Rs | 2.48 | -1.29 | 1.17 | 2.67 | 0.95 | -0.12 | 1.22 | -0.53 | -0.07 | 0.63 | 2.91 | 3.80 | 3.23 |
Financials of Apex Frozen Foods Ltd
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 514 | 599 | 604 | 699 | 999 | 875 | 827 | 818 | 926 | 1,070 | 804 | 814 | 958 |
| Expenses + | 482 | 566 | 563 | 654 | 889 | 785 | 740 | 728 | 840 | 987 | 764 | 788 | 911 |
| Operating Profit | 33 | 33 | 40 | 44 | 110 | 90 | 87 | 91 | 86 | 83 | 40 | 25 | 47 |
| OPM % | 6% | 5% | 7% | 6% | 11% | 10% | 11% | 11% | 9% | 8% | 5% | 3% | 5% |
| Other Income + | 0 | 5 | 5 | 11 | 20 | 21 | 19 | 8 | 6 | 2 | 3 | 5 | 17 |
| Interest | 8 | 10 | 10 | 11 | 9 | 7 | 11 | 16 | 17 | 15 | 9 | 9 | 5 |
| Depreciation | 5 | 0 | 5 | 6 | 9 | 11 | 15 | 22 | 19 | 19 | 15 | 15 | 14 |
| Profit before tax | 20 | 28 | 30 | 37 | 113 | 94 | 81 | 61 | 56 | 51 | 20 | 6 | 45 |
| Tax % | 34% | 34% | 35% | 33% | 30% | 35% | 25% | 27% | 27% | 29% | 25% | 31% | |
| Net Profit + | 13 | 18 | 19 | 25 | 79 | 61 | 61 | 44 | 41 | 36 | 15 | 4 | 33 |
| EPS in Rs | 6.71 | 7.65 | 8.03 | 10.47 | 25.31 | 19.46 | 19.40 | 14.17 | 13.14 | 11.48 | 4.67 | 1.24 | 10.57 |
| Dividend Payout % | 0% | 0% | 0% | 10% | 8% | 10% | 0% | 14% | 19% | 22% | 43% | 161% |
Financials of Apex Frozen Foods Ltd
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 24 | 24 | 24 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
| Reserves | 18 | 32 | 51 | 85 | 271 | 324 | 365 | 409 | 437 | 459 | 466 | 463 | 478 |
| Borrowings + | 79 | 90 | 79 | 110 | 85 | 108 | 163 | 168 | 167 | 91 | 107 | 73 | 41 |
| Other Liabilities + | 24 | 19 | 24 | 57 | 43 | 47 | 68 | 49 | 42 | 33 | 29 | 46 | 81 |
| Total Liabilities | 141 | 165 | 179 | 277 | 431 | 510 | 627 | 657 | 678 | 614 | 633 | 613 | 631 |
| Fixed Assets + | 40 | 52 | 55 | 83 | 111 | 115 | 280 | 250 | 236 | 242 | 254 | 243 | 241 |
| CWIP | 0 | 0 | 8 | 1 | 21 | 116 | 3 | 15 | 22 | 18 | 4 | 4 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 101 | 113 | 116 | 193 | 299 | 279 | 344 | 391 | 420 | 354 | 376 | 367 | 389 |
| Total Assets | 141 | 165 | 179 | 277 | 431 | 510 | 627 | 657 | 678 | 614 | 633 | 613 | 631 |
Financials of Apex Frozen Foods Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 9 | 12 | 37 | 14 | 33 | 49 | 58 | 13 | 36 | 121 | 11 | 50 |
| Cash from Investing Activity + | -17 | -12 | -16 | -29 | -58 | -114 | -44 | -14 | -10 | -22 | -8 | -2 |
| Cash from Financing Activity + | 8 | -0 | -21 | 17 | 85 | 7 | -14 | 4 | -27 | -99 | -2 | -49 |
| Net Cash Flow | 0 | 0 | 0 | 3 | 60 | -58 | 1 | 3 | -2 | 1 | 1 | -1 |
| Free Cash Flow | -8 | 0 | 21 | -12 | -24 | -60 | 20 | 0 | 25 | 100 | -1 | 46 |
| CFO/OP | 51% | 63% | 118% | 62% | 69% | 91% | 86% | 23% | 55% | 171% | 43% | 176% |
Financials of Apex Frozen Foods Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 24 | 31 | 25 | 43 | 25 | 39 | 35 | 67 | 52 | 38 | 49 | 57 |
| Inventory Days | 47 | 39 | 48 | 44 | 53 | 67 | 117 | 106 | 120 | 88 | 129 | 118 |
| Days Payable | 15 | 9 | 13 | 21 | 14 | 20 | 29 | 20 | 12 | 8 | 10 | 16 |
| Cash Conversion Cycle | 56 | 60 | 60 | 66 | 64 | 86 | 123 | 154 | 160 | 118 | 167 | 158 |
| Working Capital Days | 52 | 8 | 13 | 24 | 39 | 47 | 54 | 83 | 90 | 71 | 107 | 110 |
| ROCE % | 28% | 29% | 27% | 26% | 40% | 24% | 18% | 13% | 12% | 11% | 5% | 2% |
Guidance history
How Apex Frozen Foods Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | — | — | — |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
18 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +19.3% | 74% |
| Last 6 months | −37.3% | 4% |
| Last 3 months | −21.3% | 19% |
The price is 65.6% below its all-time high of ₹849.8 (15 Dec 2017). Stocks more than 20% below their peak have their score halved, so 35 became 18.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Apex Frozen Foods Ltd: 0.4 × 74 + 0.4 × 4 + 0.2 × 19 = 35, halved to 18 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Apex Frozen Foods Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q1 FY24 earnings call →
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