Avanti Feeds Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024
May 22, 2024 at 09:48 am
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Avanti Feeds Limited reported earnings results for the fourth quarter and full year ended March 31, 2024. For the fourth quarter, the company reported sales was INR 12,835.13 million compared to INR 10,930.03 million a year ago. Revenue was INR 13,199.66 million compared to INR 11,170.49 million a year ago. Net income was INR 1,040.69 million compared to INR 933.42 million a year ago. Basic earnings per share from continuing operations was INR 7.64 compared to INR 6.85 a year ago. Diluted earnings per share from continuing operations was INR 7.64 compared to INR 6.85 a year ago.
For the full year, sales was INR 53,688.94 million compared to INR 50,869.86 million a year ago. Revenue was INR 55,051.62 million compared to INR 51,790.03 million a year ago. Net income was INR 3,571.42 million compared to INR 2,786.72 million a year ago. Basic earnings per share from continuing operations was INR 26.21 compared to INR 20.45 a year ago. Diluted earnings per share from continuing operations was INR 26.21 compared to INR 20.45 a year ago.
Avanti Feeds Limited is engaged in manufacturing of shrimp feed. The Company operates through three segments: Shrimp Feed, Windmills, and Hatchery. The shrimp feed is manufactured and marketed to farmers, which is used in aqua culture to grow shrimp. The shrimps are purchased from the farmers and are further processed and exported to various countries. It has installed over four mills of over 3.2 megawatts capacity at Chitradurga, Karnataka. The power generated from windmills is sold to Bangalore Electricity Supply Company Limited (BESCOM) under a power purchase agreement. It has six shrimp feed manufacturing units and one hatchery. The Companyâs products include raw shrimp, cooked shrimp, and value-added shrimp. Its value-added shrimps include marinated products, breaded products, skewers, and shrimp rings. The Company provides its products to various markets, such as Europe, Japan, Korea, China, Russia, Canada, and the Middle East.
AVANTI FEEDS LIMITED 
