Another good set of nos from Avanti, with sales growing by 14% and EPS by 16%. Management seemed quite bullish on demand in 2024 and are targeting 17% volume growth in feeds segment and 20% in processed shrimp segment. Concall notes below.
FY24Q3
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Present RM price: 129/kg (vs 138/kg last quarter), 53/kg soyabean (vs 54/kg last quarter), 30/kg wheat flour (29/kg last quarter)
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Processed shrimp sales grew 30% YOY (35% volume growth)
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2024 feed volume: Expect 10-15% growth to 12.5-13 lakh MT – Avanti’s target is 6 lakh MT (vs 5.13 lakh MT in 2023)
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2024 shrimp sales: Expect 15,000 MT (vs 12,478 MT in 2023) . Strengthening exports to USA and Canada, and venturing into new markets of Japan and Korea
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Seeing short term benefits from geopolitical problems in Ecuador
Disclosure: Invested (position size here, no transactions in last-30 days)