Avanti Feeds announced its Q3 FY26 results, reporting consolidated financial highlights for the nine months ending December 31, 2025. The company’s feed division showed robust volume growth, while the Shrimp Processing division registered significant YoY profit improvement driven by better price realization and favorable foreign exchange. The new Pet Food project, ‘Avant Furst,’ continues to gain market traction across all regions, and the company is navigating fluctuating raw material costs.
Q3 FY26 Financial Highlights Summary
Avanti Feeds Limited has reported its unaudited financial results for the quarter and nine months ended December 31, 2025. The conference call revealed key performance indicators across its two primary segments: Feed and Shrimp Processing.
Consolidated Performance (Nine Months Ended Dec 31, 2025)
For the nine-month period of FY26, the company’s Gross Income stood at INR 4,761 crores, marking an increase of INR 420 crores (9.67%) compared to the same period last year. Profit Before Tax (PBT) saw a substantial boost, reaching INR 698 crores, up from INR 526 crores previously, reflecting an increase of INR 172 crores, or approximately 32.7%.
The PBT on revenues for the nine months improved to 16% compared to 13.3% in the corresponding period last year. Management expects the full-year PBT to settle between 14.5% to 15% due to steep increases in raw material prices seen in the last quarter.
Feed Division Performance
The feed division demonstrated strong physical performance. Feed sales volume for the nine months reached 4,38,335 MT, up from 4,25,537 MT in the previous year. The company estimates total feed sales for FY26 would be around 5,55,000 MT.
Regarding raw materials, the purchase price of fish meal increased significantly to INR 117 per kg in Q3 FY26 (from INR 98 in Q2). While the company benefited from averaged lower raw material costs in Q3, management noted that Q4 will likely reflect the higher current purchase prices (Fish Meal at INR 145/kg, Soya Bean Meal at INR 56/kg, Wheat Flour at INR 32/kg).
Management projects a minimum 10% growth in feed volume consumption for the full year, buoyed by positive farmer sentiment.
Shrimp Processing and Export Division
The Shrimp Processing Division showed strong operational leverage:
- Q3 FY26 Gross Income: INR 455 crores, a 39% YoY growth from INR 328 crores in Q3 FY25, despite a minor 1.5% sequential drop from Q2 FY26 due to lower sales quantity.
- Q3 FY26 PBT: Stood at INR 52 crores, up significantly from INR 18 crores in Q3 FY25, driven by better price realization and favorable forex.
- Nine Months PBT: Increased to INR 130 crores compared to INR 68 crores in the corresponding period last year.
Export volume for the company in FY25 was 14,149 MT, and the estimate for FY26 exports is approximately 16,500 MT. Management highlighted that the recent reversal of IEEPA-based tariffs in the U.S. is expected to improve competitiveness against other exporters like Ecuador.
Pet Food Business Update (‘Avant Furst’)
The Pet Food project remains positive, with sales momentum continuing. Q3 FY26 sales reached INR 136.2 lakhs, up from INR 95.08 lakhs in Q2 FY26. The brand is expanding its presence in Tier-2 and Tier-3 markets, with products live on Amazon and Supertails.
Regarding the capital expenditure plan for the dedicated pet food manufacturing facility, land development is underway. Management expects to finalize project costs and provide profitability estimates within the next one or two quarters.
Management Outlook and Commentary
C. Ramachandra Rao concluded by noting that while the government is focused on export incentives, the company is actively seeking regulatory mechanisms to balance shrimp feed exports with ensuring adequate domestic availability.
Source: BSE
