Avanti Feeds Ltd

- On page 24, C. Ramachandra Rao mentions a new project involving land purchase and ongoing development work. - They are working with collaborators on drawings, machinery estimates, and civil works. - They expect to provide a clear estimate of the total project cost in the next couple of months. - Construction will begin after receiving all necessary government approvals. - Profitability and total project cost details will be shared in the next one or two quarters. - No explicit mention of current or future fundraising through debt or equity in the transcript. - Given the project developments and cost estimation timeline, fundraising decisions may be communicated in upcoming quarters.

- The company has purchased land near Hyderabad for setting up a state-of-the-art manufacturing facility; land development is in progress and designs/drawings are being finalized (Page 8). - Construction will commence after detailed project report completion and receipt of necessary government approvals (Page 8). - A clear estimate of total project cost and profitability is expected within the next couple of months, with updates to be provided in the next 1-2 quarters (Page 24). - In the pet food business, the company plans to start its own production within the next 12 to 15 months, which will bring real benefit compared to current trading/importing operations (Page 23). - Capex details for the pet food production facility were queried but not provided at the time of the call (Page 23).

- The company expects a minimum 10% growth in feed volume consumption in FY27, driven by positive cultural conditions and increased farming activity (Page 17). - Continuous scaling of the shrimp processing division is planned from FY27 onwards, targeting volume and revenue growth step-by-step, focusing on value-added products and premium clients (Page 27). - Asian markets show strong growth potential, with the company bullish about increasing sales in these regions; however, opportunities in Africa are seen as long-term (Page 20). - Feed business volumes guided around 5.5 lakh metric tons in FY26 with anticipated mid-to-high single-digit growth rates in FY27 and FY28, depending on culture season conditions (Pages 16 and 17). - Despite raw material price challenges impacting margins, stable or improved profitability is expected with strategic pricing and market access improvements (Pages 14, 16). - The pet food business is in early stages, focusing on market penetration and brand building, with production expected to start in 12-15 months, potentially enhancing revenues (Pages 22-23).

- FY26 PBT expected around 14.5% to 15% due to rising raw material costs impacting Q4 margins. - Feed volume consumption anticipated to grow at a minimum of 10% in the upcoming culture season, driven by improved climatic conditions and farmer optimism. - Continuous CAGR growth expected post FY27 by scaling volume and revenue steadily in shrimp processing, focusing on value-added, premium products. - Market share in shrimp processing targeted to increase beyond the stagnant 1-2%, supported by JV with Thai Union and better market positioning. - Pet food business is in early stages; margins currently low due to high promotional expenditure, but profitability expected to improve significantly once in-house production begins within 14-15 months. - Expansion into Middle East, Asia markets planned, with Asia showing bullish growth potential; Africa market opportunity is longer-term. - Full-year FY26 results and forward-looking plans to be detailed in the next earnings call.

The transcript on pages provided does not explicitly mention the current or expected order book or pending orders for Avanti Feeds Limited. However, some insights related to market demand and business performance include: - The company expressed optimism about scaling volumes and revenue in the shrimp processing business, aiming for continuous step-by-step growth from FY27 onwards. - Positive sentiment is noted from farmers and the supply chain for increased culture seasons. - Discussions highlight increased inquiries and positive outlook for demand once the shrimp culture season opens. - The company is working on projections and budgets for FY27 but has not disclosed specific order book figures. - Market access improvements via trade deals (e.g., UK, EU) are expected to boost demand and potentially orders in the medium term. No specific data on order book or pending orders was shared during this Q3 FY26 earnings call.