1. At a Glance

Avanti Feeds Ltd — the ₹9,408 crore aquaculture heavyweight — is the kind of company that can turn prawns into profits and pet food into portfolio spice. The stock sits at ₹691 (as of Nov 4, 2025), giving a neat6.2% return over the last 3 months, even after a -20.8% sulk over six months. With aP/E of 15.2x,ROCE of 24%, andROE of 19.5%, this shrimp whisperer continues to show what happens when good margins meet low debt (₹15 crore — basically pocket change).

In Q2FY26 (Sept 2025), revenue sizzled at₹1,610 crore, up18.8% YoY, while PAT jumped a juicy34.9% YoY to ₹153 crore. For a company that sells shrimp feed and exports frozen shrimp, that’s no small fry. EPS came in at ₹11.25 per share for the quarter, making annualized EPS ₹45, which keeps theearnings yield near 10%.

Meanwhile, Avanti is now feeding more than shrimps — its new pet food vertical (Avanti Pet Care Pvt Ltd) launched its “Avant Frust” cat food in Hyderabad, just to remind investors it can also feed the “meow” economy.

2. Introduction

Once upon a time, Avanti Feeds was just another feed manufacturer in Andhra Pradesh — mixing powders, weighing pellets, and hoping farmers don’t switch brands. Fast forward to FY26, and the company is not just selling shrimp feed but exporting processed seafood across the globe — while also dabbling in pet care. Yes, the same company that fattens prawns now wants to fatten cats.

It’s a classic desi success story: from ponds to profit, from hatcheries to hypermarkets. Backed byThai Union (24.2% stake), one of the global seafood titans, Avanti has managed to stay afloat in the choppy waters of India’s aquaculture sector.

But the sea isn’t always calm. Shrimp prices are volatile, global demand can be moody, and Indian feed costs sometimes act like a Bollywood villain. Yet, Avanti keeps posting double-digit operating margins and returns that make fund managers nod approvingly.

So, what happens when a shrimp feed company quietly becomes a diversified protein powerhouse? Let’s dig into the data pond.

3. Business Model – WTF Do They Even Do?

If you thought Avanti Feeds just sells “prawn food,” oh boy, you’ve underestimated the crustacean capitalism at work here.

• Shrimp Feed Manufacturing (79.6% of FY24 revenue):Avanti is the undisputed king of shrimp feed in India, holding around50% market share. Its brands —Profeed, Titan, Prostar, Manamei,andHigh Boost— sound like superhero names but are essentially well-balanced meals for shrimps.
• Shrimp Processing & Export (20% of FY24 revenue):Through its subsidiaryAvanti Frozen Foods Pvt Ltd, it exports toNorth America, Europe, and Asia. The processing facilities atYerravaram (15,000 MT),Gopalapuram (3,000 MT), and the brand-newKrishnapatnam unit (7,000 MT)make sure your frozen prawns in Walmart and Tesco probably started life in an Andhra pond.
• Hatchery Division (0.4% of revenue):Produces disease-free post-larvae (baby shrimps) — 600 million per year. It’s like IVF, but for seafood.
• Pet Care (new baby):EnterAvanti Pet Care Pvt Ltd, which launched its first product, “Avant Frust” cat food, in 2024. Imagine going from shrimp pellets to kibble — diversification done right.
• Power Play:Oh, and they even own a3.2 MW windmilland stakes inSrivathsa Power Projects Pvt LtdandPatikari Power Pvt Ltd. Because when you have shrimp money, why not generate clean energy too?

4. Financials Overview

Commentary:Margins remain