Apex Frozen Foods posts strong Q2/FY26 results on higher realization, lower costs

Apex Frozen Foods announced robust financial results for Q2/FY26, with net revenue increasing by 19% year-over-year to Rs 2,383 Mn. This growth was primarily attributed to higher average realization. Gross profit saw a substantial 76% increase, reaching Rs 958 Mn, with the gross margin improving to 39.2% from 27.2% in Q2/FY25. EBITDA also surged by 284% to Rs 177 Mn, pushing the EBITDA margin to 7.2%.

The company's profitability was further boosted by stable average raw material prices and lower finance costs due to reduced borrowings. Profit After Tax (PAT) demonstrated exceptional growth, rising by 877% to Rs 119 Mn in Q2/FY26. Cashflow from operations for H1FY26 significantly improved to Rs 464 Mn, compared to Rs 73 Mn in H1FY25, reflecting effective operational management.

Operationally, the average shrimp realization in Q2FY26 grew 25% year-over-year and 7% quarter-on-quarter to Rs 870 per Kg. Sales to the European Union (EU) grew 18% year-over-year in Q2FY26, while the share of Ready-to-eat (RTE) products in total shrimp sales stood at 14% in H1FY26. The company continues to manage its debt prudently.