Buy Avanti Feeds, target price Rs 535: Geojit

Geojit has buy call on Avanti Feeds with a target price of Rs 535. The current market price of Avanti Feeds Ltd. is Rs 427.35. 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 5920.55 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 revises down Target to Rs.535 (earlier Rs. 620) but upgrade to Buy (from Accumulate) factoring positive demand outlook and attractive valuation.

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.