Signalling confidence in Avanti Feeds, Kotak Mahindra Mutual Fund raised its stake in the company, bringing its total ownership to more than 5%.
In its regulatory filing on Thursday, 12 March, Avanti Feeds informed investors that Kotak Mahindra Mutual Fund acquired an additional 62,044 shares, or 0.045%, on 10 March via the open market. The fund acquired the equity shares through its equity schemes.
Following this acquisition, Kotak Mahindra Mutual Fund now owns a 5.02% stake in the company, the regulatory filing showed. However, the company has not disclosed the price at which the fund house acquired these shares.
This fresh acquisition comes at a time when the multibagger stock has been witnessing severe volatility amid the broader market sell-off.
Avanti Feeds share price trend
Shares of Avanti Feeds have remained under severe pressure over the last one month, losing 12.3% of their value. However, the overall decline was limited as the stock had witnessed a sharp rally earlier in February, rising nearly 80% between February 3 and 13 after the United States and India announced an interim trade deal that reduced tariffs on Indian exports from 50% to 18%.
The announcement came as a relief to export-heavy industries, including the aquaculture sector. In FY25, the Indian shrimp industry was severely impacted by higher US tariffs.
With nearly 48% of India’s shrimp exports directed to the US, the tariffs led to paused contracts, price declines at the farm-gate level, and around ₹2,000 crore worth of inventory being stranded or rerouted.
The United States accounted for 53% of Apex Frozen Foods’ export sales in FY25.
In terms of financial performance, the company reported a consolidated ₹163 crore”>net profit of ₹163 crore, up from ₹141 crore in the same period last year. Consolidated revenue from operations also rose to ₹1,384 crore, compared with ₹1,366 crore in the year-ago quarter.
Earnings before interest, tax, depreciation, and amortization (EBITDA) increased 9.4% to ₹176 crore, up from ₹160.8 crore in the third quarter of the previous fiscal year, while margins expanded 500 basis points year-on-year to 12.7%.
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