Q3 2026 Apex Frozen Foods Ltd Earnings Call Transcript
Key Points
- Apex Frozen Foods Ltd (NSE:APEX) reported a 15% year-on-year increase in net revenue for Q3 FY26, driven by higher shrimp sales to the European Union and improved average realizations.
- The company's non-US export business grew significantly, accounting for nearly 51% of total exports in nine months of FY26, up from 37% in nine months of FY24.
- EBITDA increased by 147% year-on-year to INR17 crores, with the EBITDA margin improving by 344 basis points to 6.5% in Q3 FY26.
- The reduction in US tariffs from 50% to 25% is expected to support an improvement in volumes and enhance revenue growth.
- Apex Frozen Foods Ltd (NSE:APEX) is actively diversifying its market presence, with plans to expand into new markets such as Russia and Australia, which are expected to contribute to future growth.
- Sales volumes declined by 5% year-on-year in Q3 FY26, with a 12% decline in sales to the US market.
- The company faced increased tariffs in the US, which impacted sales volumes and contributed to higher other expenses.
- Despite the revenue growth, sales volumes to the US declined marginally by 1% over nine months FY26.
- The company operates at a low capacity utilization of around 32-33%, indicating underutilization of its production capabilities.
- Farmgate or raw material prices have been rising, which could impact margins if not managed effectively.
Ladies and gentlemen, good day, and welcome to the Apex Frozen Foods Limited Q3 and nine months FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Suyash Samant from Stellar IR Advisors. Thank you, and over to you, sir.
Thank you. Good morning, everyone, and thank you for joining us today. We have with us the senior management team of Apex Frozen Foods Limited, Mr. Chowdary Karuturi, Managing Director and Chief Financial Officer; and Mr. Durga Prasad, Senior Manager, Accounts, who will represent Apex Frozen Foods Limited on the call.
The management will be sharing the key operating and financial highlights for the quarter and nine months ended December 31, 2025, 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 opinions, expectations as of today. These statements are not a guarantee of the
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