Avanti Feeds (512573) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 consolidated revenue was INR 13,835 million, up 1.3% YoY, with net profit rising 16.1% YoY to INR 1,635 million and EPS increasing to INR 10.96.

• Q3 FY26 consolidated gross income was INR 1,447 crores, down 12.78% sequentially but up 2.99% YoY; PBT was INR 222 crores, up 20.65% YoY.

• Nine months FY26 consolidated revenue reached INR 45,996 million, up 9% YoY, with PAT up 29.5% to INR 5,179 million.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025.

• Investment in Quanta People Solutions Private Limited, an AI-based HR tech start-up, was approved.

Financial highlights

• Q3 FY26 EBITDA margin improved to 17.3% from 14.6% YoY; nine months EBITDA grew 31% YoY to INR 7,474 million.

• Shrimp processing division Q3 FY26 gross income was INR 455 crores, up 39% YoY; PBT at INR 52 crores, up from INR 18 crores YoY.

• Shrimp feed division Q3 FY26 revenue was ₹94,502.06 lakhs, with EBIT margin at 11.8%.

• Pet food business Q3 FY26 sales were INR 136.2 lakh, up from INR 95.08 lakh in Q2.

• Standalone Q3 FY26 revenue was ₹94,509.40 lakhs; net profit: ₹12,888.17 lakhs.

Outlook and guidance

• FY26 PBT margin expected at 14.5%-15% due to rising raw material costs.

• Feed sales for FY26 estimated at 555,000 MT; shrimp exports projected at 16,500 MT.

• Management expects at least 10% growth in feed volume for FY27, contingent on favorable culture conditions.

• Company is assessing the impact of new Indian Labour Codes and will account for changes in Q4 FY26.

• Shrimp feed revenues declined 9.6% YoY in Q3 FY26, while shrimp processing revenue grew 37% YoY.