Apex Frozen Foods Ltd.
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ABOUT
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Company is almost debt free
- Latest quarter profit grew 138.1% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.81x)
- Stock looks reasonably valued - P/E of 22.4 is below its historical median
- Company comfortably covers its interest (12.8x coverage)
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (32.7% of PBT)
- Company has a low return on equity of 3.8% over last 3 years
- Company has a low return on capital employed of 5.9%
- Company has delivered a poor profit growth of -2.6% over past five years
- Company has delivered a poor sales growth of 2.6% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| APEX | 368.80 | 22.42 | 1152.50 | 0.68 | 21.66 | 138.08 | 256.53 | -0.63 | 10.45 | 11.79 |
| SHINDL | 163.85 | 38.22 | 642.53 | 0.00 | 6.28 | 16.95 | 120.30 | 4.43 | 11.89 | 10.78 |
| WATERBASE | 47.23 | 0.00 | 195.66 | 0.00 | 1.19 | 136.13 | 121.49 | 39.42 | -10.64 | 2.77 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 254 | 241 | 148 | 162 | 186 | 200 | 231 | 197 | 258 | 238 | 264 | 168 | 257 | |
| 241 | 222 | 140 | 160 | 175 | 196 | 227 | 191 | 243 | 227 | 251 | 155 | 231 | |
| Operating Profit | 13 | 19 | 8 | 1 | 11 | 4 | 4 | 7 | 15 | 11 | 13 | 13 | 26 |
| OPM % | 5.08% | 7.72% | 5.70% | 0.83% | 5.74% | 1.98% | 1.72% | 3.34% | 5.98% | 4.78% | 5.09% | 7.60% | 10.06% |
| 0 | 1 | 1 | 1 | 0 | 1 | 2 | 1 | 3 | 9 | 4 | 4 | 3 | |
| Interest | 3 | 3 | 2 | 2 | 2 | 3 | 3 | 1 | 2 | 1 | 1 | 1 | 0 |
| Depreciation | 5 | 5 | 3 | 1 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 5 | 4 |
| Profit before Tax | 5 | 11 | 4 | -0 | 5 | -2 | -0 | 3 | 13 | 16 | 13 | 11 | 29 |
| Tax % | 28.63% | 26.52% | 17.27% | 26.53% | 24.55% | 18.54% | -4.76% | 30.39% | 29.78% | 24.04% | 24.42% | 29.63% | 24.22% |
| Net Profit | 4 | 8 | 3 | -0 | 4 | -2 | -0 | 2 | 9 | 12 | 10 | 8 | 22 |
| 1.17 | 2.67 | 0.95 | -0.12 | 1.22 | -0.53 | -0.07 | 0.63 | 2.91 | 3.80 | 3.23 | 2.49 | 6.93 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 699 | 999 | 875 | 827 | 818 | 926 | 1,070 | 804 | 814 | 931 | 927 | |
| 654 | 889 | 785 | 740 | 728 | 840 | 987 | 764 | 788 | 876 | 864 | |
| Operating Profit | 44 | 110 | 90 | 87 | 91 | 86 | 83 | 40 | 25 | 56 | 63 |
| OPM % | 6.35% | 11.02% | 10.24% | 10.52% | 11.11% | 9.32% | 7.76% | 5.03% | 3.09% | 5.97% | 6.84% |
| 11 | 20 | 22 | 19 | 8 | 6 | 2 | 3 | 5 | 17 | 20 | |
| Interest | 11 | 9 | 7 | 11 | 16 | 17 | 15 | 9 | 9 | 4 | 3 |
| Depreciation | 6 | 9 | 11 | 15 | 22 | 19 | 19 | 15 | 15 | 15 | 16 |
| Profit before Tax | 37 | 113 | 94 | 81 | 61 | 56 | 51 | 20 | 6 | 53 | 69 |
| Tax % | 32.88% | 29.72% | 35.10% | 24.91% | 26.92% | 26.93% | 29.14% | 25.35% | 30.88% | 26.72% | 25.09% |
| Net Profit | 25 | 79 | 61 | 61 | 44 | 41 | 36 | 15 | 4 | 39 | 51 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 14.17 | 13.14 | 11.48 | 4.67 | 1.24 | 12.43 | — |
| Dividend Payout % | 9.55% | 7.90% | 10.28% | 10.31% | 14.11% | 19.02% | 21.78% | 42.81% | 161.22% | 20.11% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 3%
- 3 Years:
- -5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 7%
- 5 Years:
- -3%
- 3 Years:
- 3%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 6%
- 3 Years:
- 18%
- 1 Year:
- 48%
RETURN ON EQUITY
- 10 Years:
- 14%
- 5 Years:
- 6%
- 3 Years:
- 4%
- Last Year:
- 8%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 24 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
| 85 | 271 | 324 | 365 | 409 | 437 | 459 | 466 | 463 | 497 | |
| 106 | 82 | 105 | 144 | 166 | 168 | 92 | 104 | 70 | 4 | |
| Trade Payables | 31 | 27 | 31 | 45 | 30 | 21 | 16 | 15 | 26 | 29 |
| 31 | 16 | 15 | 38 | 19 | 21 | 17 | 18 | 23 | 31 | |
| Total Liabilities | 277 | 428 | 507 | 623 | 654 | 678 | 614 | 633 | 613 | 593 |
| 83 | 111 | 115 | 280 | 250 | 236 | 242 | 254 | 243 | 239 | |
| Capital Work in Progress | 1 | 21 | 116 | 3 | 15 | 22 | 18 | 4 | 4 | 2 |
| 64 | 102 | 106 | 184 | 161 | 203 | 178 | 194 | 188 | 167 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 107 | 127 | 109 | |
| Cash & Bank | 5 | 64 | 7 | 7 | 10 | 8 | 10 | 7 | 5 | 19 |
| 125 | 130 | 163 | 149 | 218 | 209 | 165 | 67 | 47 | 58 | |
| Total Assets | 277 | 428 | 507 | 623 | 654 | 678 | 614 | 633 | 613 | 593 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 27 | 76 | 82 | 75 | 21 | 47 | 142 | 11 | 54 | 96 | |
| Cash from Investing | -29 | -58 | -114 | -44 | -14 | -10 | -22 | -8 | -6 | -2 |
| Cash from Financing | 17 | 85 | 7 | -14 | 4 | -27 | -99 | -2 | -49 | -78 |
| 3 | 60 | -58 | 1 | 3 | -2 | 1 | 1 | -1 | 16 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-26 - Apex Frozen Foods Limited has informed the Exchange regarding 'Intimation of book closure Dates, cut off date and Record Date'.
2026-08-26 - Apex Frozen Foods Limited has informed the Exchange that Record date for the purpose of Dividend & Meeting is 10-Sep-2026.
2026-08-26 - Apex Frozen Foods Limited has informed the Exchange that Record date for the purpose of Dividend is 10-Sep-2026.
2026-08-26 - Apex Frozen Foods Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 17, 2026
2026-08-22 - Apex Frozen Foods Limited has informed the Exchange about Transcript of Q1FY27 earnings Conference Call
2026-08-18 - Apex Frozen Foods Limited has informed the Exchange about Link of Recording
2026-08-15 - Apex Frozen Foods Limited has informed the Exchange about Investor Presentation
2026-08-13 - Apex Frozen Foods Limited has informed the Exchange regarding Outcome of Board Meeting held on August 13, 2026.
2026-08-13 - Apex Frozen Foods Limited has submitted to the Exchange, the un-audited financial results for the period ended Jun 30, 2026.
News
Recent coverage and analyst commentary for APEX
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Apex Frozen Foods Ltd.
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