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ICICI Securities Report
Takeaways from Avanti Feeds Ltd.'s Q4 FY22 results:
company reported revenue growth of 21.3% YoY driven by growth in both shrimp feed (up 17.7%) and processed shrimp (up 40.7%) businesses, YoY;
volume growth was strong across segments; and
while inflation in input material continued, price hikes and operating leverage arrested decline in margins.
Avanti Feeds is currently operating on full capacity utilisation and its capacity expansion plans are on track. We note the company has increased inventory levels of fish-meal and soya meal to hedge prices.
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