Avanti Feeds Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 7563.68 Crore) operating in Aquaculture sector.
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Promoters held 43.7 per cent stake in the company as of June 30, 2020, while FIIs held 17.7 per cent, DIIs 2.6 per cent and public and others 36 per cent.
ICICI Securities has given a add rating to Avanti Feeds with a target price of Rs 590. The share price moved up by 1.04 per cent from its previous close of Rs 555.25. The stock’s last traded price is Rs 561.
Avanti Feeds Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 7563.68 Crore) operating in Aquaculture sector.
Financials For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 955.40 Crore, down 7.67 % from last quarter Sales of Rs 1034.81 Crore and down 12.63 % from last year same quarter Sales of Rs 1093.49 Crore. The Company reported net profit after tax of Rs 115.74 Crore in latest quarter.
Investment Rationale The brokerage expects Avanti to report revenue and PAT CAGRs of 9.7% and 13.2% over FY20-FY22 and also expect its RoE to be stable over the same timeframe. It maintains ADD rating with a DCF-based target price of Rs 590 (implied P/E 18x FY22E EPS). Promoter/FII Holdings Promoters held 43.7 per cent stake in the company as of June 30, 2020, while FIIs held 17.7 per cent, DIIs 2.6 per cent and public and others 36 per cent.
