Q2 2025 Apex Frozen Foods Ltd Earnings Call Transcript
Key Points
- Global shrimp prices have improved after a prolonged period, encouraging higher stocking by shrimp farmers in India.
- Inventories in the US, a major market for shrimp, are clearing up, leading to improved demand.
- The European Union market remains robust, with an increased share in Apex's sales mix, indicating geographical diversification.
- Freight costs have been reducing, which is expected to positively impact profit margins.
- Apex is optimistic about future growth prospects, particularly with the potential approval of ready-to-eat products for the European Union market.
- Low demand and supply of shrimp affected overall shipments and profit margins.
- Higher raw material and freight costs have impacted profit margins.
- Ready-to-eat volume has decreased significantly due to loss of sales to certain retail customers in the United States.
- The company faces challenges due to countervailing duties and antidumping duties, which could impact costs and competitiveness.
- Shrimp volumes sold have decreased compared to the previous year, indicating supply challenges.
Ladies and gentlemen, good day, and welcome to the Apex Frozen Foods Limited Q2 and H1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
We have with us today on the call from the management team of Apex Frozen Foods Limited, Mr. Chowdary Karuturi, Managing Director and CFO; and Mr. Durga Prasad, Senior Accounts Manager; along with the Stellar IR Advisors. The management will be sharing key updates and financial highlights for the quarter and half year ended September 30, 2024, which will be followed by a question-and-answer session.
Please note, this call may contain some of the forward-looking statements, which are completely based upon the company's beliefs, opinions and expectations as of today. These statements are not guarantees of future performance and involves unforeseen risks and uncertainties. The company also undertakes no obligation to update any forward-looking statement to reflect development that occur after our statement is made. Documents relating to the company's financial performance are available on the website
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