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ICICI Securities has buy call on Avanti Feeds with a target price of Rs 600. The current market price of Avanti Feeds Ltd. is Rs 519.9. Time period given by analyst is one year when Avanti Feeds Ltd. price can reach defined target.
Avanti Feeds Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 7026.19 Crore) operating in Aquaculture sector.
Avanti Feeds Ltd. key Products/Revenue Segments include Shrimps Feed, Shrimps Seed, Wind Mills, Other Sales and Export Incentives for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1087.51 Crore, down -13.11 % from last quarter Total Income of Rs 1251.58 Crore and up 15.25 % from last year same quarter Total Income of Rs 943.65 Crore. Company reported net profit after tax of Rs 46.83 Crore in latest quarter.
Investment Rationale
The brokerage models Avanti to report revenue and PAT CAGRs of 16.8% and 10.4% respectively over FY21-FY24E. It also expects its RoE to be >20% over FY23E-FY24E. It downgrades the stock to ADD with a revised DCF-based target price of Rs600 (implied P/E 19x FY24E EPS) from Rs639 earlier. Key risks: higher than expected input inflation, and lower than expected offtake of products.
Promoter/FII Holdings
Promoters held 43.68 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.11 per cent, DIIs 6.15 per cent.
Avanti Feeds Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 7026.19 Crore) operating in Aquaculture sector.
Avanti Feeds Ltd. key Products/Revenue Segments include Shrimps Feed, Shrimps Seed, Wind Mills, Other Sales and Export Incentives for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1087.51 Crore, down -13.11 % from last quarter Total Income of Rs 1251.58 Crore and up 15.25 % from last year same quarter Total Income of Rs 943.65 Crore. Company reported net profit after tax of Rs 46.83 Crore in latest quarter.
Investment Rationale
The brokerage models Avanti to report revenue and PAT CAGRs of 16.8% and 10.4% respectively over FY21-FY24E. It also expects its RoE to be >20% over FY23E-FY24E. It downgrades the stock to ADD with a revised DCF-based target price of Rs600 (implied P/E 19x FY24E EPS) from Rs639 earlier. Key risks: higher than expected input inflation, and lower than expected offtake of products.
Promoter/FII Holdings
Promoters held 43.68 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.11 per cent, DIIs 6.15 per cent.
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