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Apex Frozen Foods

₹217.6 1.3 | 0.6%

Market Cap ₹680 Cr.

Stock P/E 29.9

P/B 1.3

Current Price ₹217.6

Book Value ₹ 161.6

Face Value 10

52W High ₹285.4

Dividend Yield 1.15%

52W Low ₹ 171.2

Apex Frozen Foods Research see more...

Overview Inc. Year: 2012Industry: Aquaculture

Apex Frozen Foods Ltd is an India-based integrated producer and exporter of shelf stable aquaculture products. The Company produces 2 varieties of shrimps namely the black tiger shrimp (Penaeus mondon) and whiteleg shrimp (Litopenaeus vannamei). The black tiger shrimp is likewise known as giant tiger prawn or Asian tiger prawn. Whiteleg shrimp is likewise known as Pacific white shrimp, which are bought under the brands: Bay sparkling, Bay Harvest and BayPremium. The Company supplies ready-to-cook products to the food groups, retail chains, restaurants, and club shops. The Company distributes the products to the USA, the United Kingdom, and European Countries.

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Apex Frozen Foods Share Price

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Peer Comparison

Apex Frozen Foods Quarterly Results

#(Fig in Cr.) Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Jun 2023 Sep 2023 Dec 2023
Net Sales 223 267 215 207 306 308 231 254 241 148
Other Income 5 3 6 3 19 1 0 0 1 1
Total Income 228 270 221 209 325 309 231 254 242 149
Total Expenditure 214 230 201 190 290 281 212 241 222 140
Operating Profit 14 39 20 19 35 28 19 13 20 9
Interest 4 5 4 4 5 5 3 3 3 2
Depreciation 5 5 5 5 5 5 5 5 5 3
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 5 30 11 10 25 18 10 5 11 4
Provision for Tax 1 8 3 3 6 5 3 1 3 1
Profit After Tax 3 22 8 7 19 14 8 4 8 3
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 3 22 8 7 19 14 8 4 8 3
Adjusted Earnings Per Share 1.1 7 2.7 2.3 5.9 4.3 2.5 1.2 2.7 1

Apex Frozen Foods Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 255 514 599 604 699 999 875 827 818 926 1070 874
Other Income 0 0 5 5 11 20 22 19 8 6 2 2
Total Income 255 515 604 608 709 1019 896 846 826 932 1072 876
Total Expenditure 233 482 566 563 654 889 785 740 728 840 987 815
Operating Profit 22 33 38 45 55 130 111 106 98 92 85 61
Interest 6 8 10 10 11 9 7 11 16 17 15 11
Depreciation 3 5 0 5 6 9 11 15 22 19 19 18
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 14 20 28 30 37 113 94 81 61 56 51 30
Provision for Tax 5 7 10 10 12 33 33 20 16 15 15 8
Profit After Tax 9 13 18 19 25 79 61 61 44 41 36 23
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 9 13 18 19 25 79 61 61 44 41 36 23
Adjusted Earnings Per Share 0 0 0 0 0 25.3 19.5 19.4 14.2 13.1 11.5 7.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 16% 9% 1% 15%
Operating Profit CAGR -8% -7% -8% 14%
PAT CAGR -12% -16% -15% 15%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 10% -4% -5% NA%
ROE Average 7% 9% 12% 25%
ROCE Average 11% 12% 16% 23%

Apex Frozen Foods Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 24 38 56 75 109 302 355 396 440 468 490
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 7 15 9 12 21 8 7 24 28 29 3
Other Non-Current Liabilities 0 -0 1 1 6 -2 -1 -3 -2 6 7
Total Current Liabilities 63 88 99 90 140 119 145 206 189 174 114
Total Liabilities 94 140 165 179 277 428 507 623 654 678 614
Fixed Assets 21 40 52 55 83 111 115 280 250 236 242
Other Non-Current Assets 7 0 0 8 3 26 128 8 18 30 31
Total Current Assets 67 100 113 116 191 290 264 335 386 412 340
Total Assets 94 140 165 179 277 428 507 623 654 678 614

Apex Frozen Foods Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 1 0 1 1 2 5 64 7 7 3 1
Cash Flow from Operating Activities -11 9 12 37 14 33 49 58 13 36 121
Cash Flow from Investing Activities -9 -17 -12 -16 -29 -58 -114 -44 -14 -10 -22
Cash Flow from Financing Activities 19 8 -0 -21 17 85 7 -14 4 -27 -99
Net Cash Inflow / Outflow -1 0 0 0 3 60 -58 1 3 -2 1
Closing Cash & Cash Equivalent 0 1 1 1 5 64 7 7 10 1 2

Apex Frozen Foods Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 0 0 0 0 0 25.31 19.45 19.41 14.17 13.14 11.48
CEPS(Rs) 4.99 7.47 7.82 10.09 13.08 28.08 22.93 24.08 21.19 19.07 17.7
DPS(Rs) 0 0 0 0 1 2 2 2 2 2.5 2.5
Book NAV/Share(Rs) 0 0 0 0 0 96.74 113.63 126.68 140.74 149.9 156.79
Core EBITDA Margin(%) 8.7 6.33 5.5 6.69 6.35 11.02 10.24 10.52 11.11 9.32 7.76
EBIT Margin(%) 7.79 5.51 6.27 6.66 6.96 12.14 11.46 11.05 9.35 7.95 6.1
Pre Tax Margin(%) 5.59 3.96 4.66 4.93 5.36 11.27 10.71 9.76 7.4 6.07 4.73
PAT Margin (%) 3.69 2.61 3.06 3.19 3.6 7.92 6.95 7.33 5.41 4.43 3.35
Cash Profit Margin (%) 4.68 3.49 3.13 4.01 4.49 8.79 8.19 9.1 8.09 6.43 5.17
ROA(%) 9.98 11.43 12.01 11.21 11.03 22.46 13.02 10.74 6.93 6.17 5.56
ROE(%) 38.56 43.13 39.13 29.38 27.21 38.42 18.5 16.15 10.6 9.04 7.49
ROCE(%) 22.77 27.8 28.58 26.72 26.02 39.93 23.56 18.16 13.29 11.84 10.75
Receivable days 51.94 24.94 25.63 27.72 32.46 27.45 33.58 38.1 51.2 55.67 41.6
Inventory Days 31.24 25.69 30.71 33.23 32.24 30.23 43.37 64.06 76.98 71.73 65.29
Payable days 11.07 10.2 10.64 11.17 16.14 14.91 18.23 24.44 24.85 15.11 9.39
PER(x) 0 0 0 0 0 24.14 16.93 8.68 14.64 21.17 16.82
Price/Book(x) 0 0 0 0 0 6.32 2.9 1.33 1.47 1.86 1.23
Dividend Yield(%) 0 0 0 0 0 0.33 0.61 1.19 0.96 0.9 1.3
EV/Net Sales(x) 0.29 0.19 0.19 0.17 0.19 1.93 1.29 0.81 0.98 1.11 0.64
EV/Core EBITDA(x) 3.31 2.9 2.97 2.25 2.36 14.86 10.18 6.29 8.19 11.16 8.06
Net Sales Growth(%) 0 101.46 16.55 0.7 15.77 42.93 -12.41 -5.44 -1.04 13.16 15.56
EBIT Growth(%) 0 42.56 32.55 6.98 21.07 149.2 -17.35 -8.8 -16.28 -3.83 -11.21
PAT Growth(%) 0 42.58 36.75 5.03 30.33 214.81 -23.14 -0.25 -26.97 -7.25 -12.66
EPS Growth(%) 0 0 0 0 0 0 -23.14 -0.25 -26.97 -7.25 -12.66
Debt/Equity(x) 2.58 2.08 1.61 1.05 1.01 0.28 0.3 0.37 0.38 0.36 0.18
Current Ratio(x) 1.05 1.14 1.14 1.28 1.36 2.45 1.82 1.62 2.04 2.36 2.99
Quick Ratio(x) 0.71 0.56 0.63 0.62 0.91 1.59 1.09 0.73 1.19 1.21 1.41
Interest Cover(x) 3.55 3.56 3.91 3.86 4.34 13.94 15.3 8.59 4.81 4.23 4.44
Total Debt/Mcap(x) 0 0 0 0 0 0.04 0.1 0.28 0.26 0.19 0.15

Apex Frozen Foods Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 72.62 72.62 72.62 72.62 72.62 72.62 72.62 72.62 72.62 72.62
FII 0.1 0.06 0.07 0.06 0.02 0.1 0.02 0.02 0.03 0
DII 6.73 6.88 7.28 7.28 6.3 5.9 4.51 0.08 0 0.05
Public 20.55 20.43 20.03 20.04 21.06 21.38 22.85 27.28 27.35 27.33
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 15.11 to 9.39days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 9% over the last 3 years.
  • The company has delivered a poor profit growth of -14% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Apex Frozen Foods News

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