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Avanti Feeds Ltd

AVANTIFEED·NSE
753.15-1.81%Tue, 22 Sept '26

Avanti Feeds Ltd

AVANTIFEED
NSE
753.15
-1.81%
|Tue, 22 Sept '26
SOICxStockScans Reports
6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
10,285Cr
Close
Close Price
754.90
Industry
Industry
FMCG - Shrimp
PE
Price To Earnings
18.86
PS
Price To Sales
1.62
Revenue
Revenue
6,360Cr
Rev Gr TTM
Revenue Growth TTM
11.41%
PAT Gr TTM
PAT Growth TTM
-2.93%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
1,2781,2531,2841,5061,3551,3661,3821,6061,6091,3841,4681,900
Growth YoY
Revenue Growth YoY%
-3.313.717.4-3.06.09.07.76.618.71.36.218.3
Expenses
ExpensesCr
1,1851,1561,1541,3461,2191,2051,2051,3921,4151,2071,3031,794
Operating Profit
Operating ProfitCr
9497130160136160177214194176165106
OPM
OPM%
7.37.710.110.610.011.812.813.312.012.711.25.6
Other Income
Other IncomeCr
343336354239505149633566
Interest Expense
Interest ExpenseCr
001111110110
Depreciation
DepreciationCr
141414141515151616161514
PBT
PBTCr
113116151180162184211248227222183157
Tax
TaxCr
313238424143546358594540
PAT
PATCr
8383113138121141157186169163139116
Growth YoY
PAT Growth YoY%
23.318.011.019.546.869.039.635.038.916.1-11.7-37.4
NPM
NPM%
6.56.78.89.19.010.311.411.610.511.89.56.1
EPS
EPS
5.55.37.69.48.39.911.113.111.312.09.27.6
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
1,2781,2531,2841,5061,3551,3661,3821,6061,6091,3841,4681,900
Growth YoY
Revenue Growth YoY%
-3.313.717.4-3.06.09.07.76.618.71.36.218.3
Expenses
ExpensesCr
1,1851,1561,1541,3461,2191,2051,2051,3921,4151,2071,3031,794
Operating Profit
Operating ProfitCr
9497130160136160177214194176165106
OPM
OPM%
7.37.710.110.610.011.812.813.312.012.711.25.6
Other Income
Other IncomeCr
343336354239505149633566
Interest Expense
Interest ExpenseCr
001111110110
Depreciation
DepreciationCr
141414141515151616161514
PBT
PBTCr
113116151180162184211248227222183157
Tax
TaxCr
313238424143546358594540
PAT
PATCr
8383113138121141157186169163139116
Growth YoY
PAT Growth YoY%
23.318.011.019.546.869.039.635.038.916.1-11.7-37.4
NPM
NPM%
6.56.78.89.19.010.311.411.610.511.89.56.1
EPS
EPS
5.55.37.69.48.39.911.113.111.312.09.27.6

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
2,0182,6163,3933,4884,1154,1015,0365,0875,3695,5996,0666,360
Growth
Revenue Growth%
13.329.629.72.818.0-0.422.81.05.54.38.311.4
Expenses
ExpensesCr
1,7892,2862,7103,0813,6613,6404,7144,6944,9114,9665,3185,720
Operating Profit
Operating ProfitCr
230330683407454460322393458632748640
OPM
OPM%
11.412.620.111.711.011.26.47.78.511.312.310.1
Other Income
Other IncomeCr
2023495971924578136166197212
Interest Expense
Interest ExpenseCr
233322221233
Depreciation
DepreciationCr
101424363841414356586361
PBT
PBTCr
238337705428485510324427537737880789
Tax
TaxCr
791102381219911279115143180225202
PAT
PATCr
159226466307386397245312394557656587
Growth
PAT Growth%
36.442.3106.1-34.326.02.9-38.327.326.141.417.8-2.9
NPM
NPM%
7.98.713.88.89.49.74.96.17.39.910.89.2
EPS
EPS
11.615.832.820.125.426.416.320.426.238.844.540.0
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
2,0182,6163,3933,4884,1154,1015,0365,0875,3695,5996,0666,360
Growth
Revenue Growth%
13.329.629.72.818.0-0.422.81.05.54.38.311.4
Expenses
ExpensesCr
1,7892,2862,7103,0813,6613,6404,7144,6944,9114,9665,3185,720
Operating Profit
Operating ProfitCr
230330683407454460322393458632748640
OPM
OPM%
11.412.620.111.711.011.26.47.78.511.312.310.1
Other Income
Other IncomeCr
2023495971924578136166197212
Interest Expense
Interest ExpenseCr
233322221233
Depreciation
DepreciationCr
101424363841414356586361
PBT
PBTCr
238337705428485510324427537737880789
Tax
TaxCr
791102381219911279115143180225202
PAT
PATCr
159226466307386397245312394557656587
Growth
PAT Growth%
36.442.3106.1-34.326.02.9-38.327.326.141.417.8-2.9
NPM
NPM%
7.98.713.88.89.49.74.96.17.39.910.89.2
EPS
EPS
11.615.832.820.125.426.416.320.426.238.844.540.0

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
9991414141414141414
Reserves
ReservesCr
4146261,0221,1921,3901,7481,8822,0822,3522,7873,272
Current Liabilities
Current LiabilitiesCr
189290328220263273351323351453508
Non Current Liabilities
Non Current LiabilitiesCr
1144493822191835585545
Total Liabilities
Total LiabilitiesCr
6231,0691,5261,6151,8802,2822,5162,7353,0983,6834,260
Current Assets
Current AssetsCr
4117691,1621,1801,5151,8282,0292,2112,5052,7642,833
Non Current Assets
Non Current AssetsCr
2123003644353654554875245939191,427
Total Assets
Total AssetsCr
6231,0691,5261,6151,8802,2822,5162,7353,0983,6834,260
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
9991414141414141414
Reserves
ReservesCr
4146261,0221,1921,3901,7481,8822,0822,3522,7873,272
Current Liabilities
Current LiabilitiesCr
189290328220263273351323351453508
Non Current Liabilities
Non Current LiabilitiesCr
1144493822191835585545
Total Liabilities
Total LiabilitiesCr
6231,0691,5261,6151,8802,2822,5162,7353,0983,6834,260
Current Assets
Current AssetsCr
4117691,1621,1801,5151,8282,0292,2112,5052,7642,833
Non Current Assets
Non Current AssetsCr
2123003644353654554875245939191,427
Total Assets
Total AssetsCr
6231,0691,5261,6151,8802,2822,5162,7353,0983,6834,260

Cash Flow

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
122278281184178383-212451260584505
Investing Cash Flow
Investing Cash FlowCr
18-408-269-27-79-366299-418-218-485-385
Financing Cash Flow
Financing Cash FlowCr
-74101-45-106-14115-68-65-63-86-104
Net Cash Flow
Net Cash FlowCr
66-30-3451-423118-32-211416
Free Cash Flow
Free Cash FlowCr
56187201160144340-212452261590507
CFO To PAT
CFO To PAT%
76.7122.760.259.946.196.3-86.6144.566.0104.977.0
CFO To EBITDA
CFO To EBITDA%
53.184.241.145.139.383.2-66.0114.856.892.467.4
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
122278281184178383-212451260584505
Investing Cash Flow
Investing Cash FlowCr
18-408-269-27-79-366299-418-218-485-385
Financing Cash Flow
Financing Cash FlowCr
-74101-45-106-14115-68-65-63-86-104
Net Cash Flow
Net Cash FlowCr
66-30-3451-423118-32-211416
Free Cash Flow
Free Cash FlowCr
56187201160144340-212452261590507
CFO To PAT
CFO To PAT%
76.7122.760.259.946.196.3-86.6144.566.0104.977.0
CFO To EBITDA
CFO To EBITDA%
53.184.241.145.139.383.2-66.0114.856.892.467.4

Ratios

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
1,8093,36610,1375,5574,0085,6515,6214,6296,60012,44115,95810,285
Price To Earnings
Price To Earnings
11.915.622.720.311.615.725.416.618.523.526.318.9
Price To Sales
Price To Sales
0.91.33.01.61.01.41.10.91.22.22.61.6
Price To Book
Price To Book
4.35.39.84.62.93.23.02.22.84.44.93.1
EV To EBITDA
EV To EBITDA
7.610.114.813.28.412.217.211.112.818.320.815.8
Profitability Ratios
Profitability Ratios
GPM
GPM%
21.317.225.116.716.116.910.713.014.217.418.818.8
OPM
OPM%
11.412.620.111.711.011.26.47.78.511.312.310.1
NPM
NPM%
7.98.713.88.89.49.74.96.17.39.910.89.2
ROCE
ROCE%
55.652.468.235.534.729.017.220.422.626.326.826.8
ROE
ROE%
37.635.645.225.427.522.612.914.916.619.920.020.0
ROA
ROA%
25.521.230.619.020.617.49.811.412.715.115.415.4
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
1,8093,36610,1375,5574,0085,6515,6214,6296,60012,44115,95810,285
Price To Earnings
Price To Earnings
11.915.622.720.311.615.725.416.618.523.526.318.9
Price To Sales
Price To Sales
0.91.33.01.61.01.41.10.91.22.22.61.6
Price To Book
Price To Book
4.35.39.84.62.93.23.02.22.84.44.93.1
EV To EBITDA
EV To EBITDA
7.610.114.813.28.412.217.211.112.818.320.815.8
Profitability Ratios
Profitability Ratios
GPM
GPM%
21.317.225.116.716.116.910.713.014.217.418.818.8
OPM
OPM%
11.412.620.111.711.011.26.47.78.511.312.310.1
NPM
NPM%
7.98.713.88.89.49.74.96.17.39.910.89.2
ROCE
ROCE%
55.652.468.235.534.729.017.220.422.626.326.826.8
ROE
ROE%
37.635.645.225.427.522.612.914.916.619.920.020.0
ROA
ROA%
25.521.230.619.020.617.49.811.412.715.115.415.4
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Avanti Feeds is the quiet giant of Indian shrimp - the company that feeds roughly half the country’s farmed shrimp, supplies the seed that starts the crop, and then processes and exports the harvest to dinner plates across America, Europe and Asia. It was born in 1993 on the wave of India’s “Blue Revolution,” the government push that turned coastal aquaculture into an organised industry, and has spent three decades building a fully traceable chain from hatchery to frozen fillet. The thread that runs through every part of the business is a refusal to cut corners on feed quality - the company sticks to its formula even when raw-material prices spike, because a farmer’s entire crop depends on it. # Business segments Three engines built in sequence - a shrimp-feed franchise that commands half the national market, a processing-and-export arm that turns the harvest into frozen products for global retailers, and a hatchery that supplies the seed stock - with an early-stage pet-food bet on the side. ## 1. Shrimp feed: the franchise that feeds half of India’s shrimp **With roughly 50% of the country’s shrimp-feed consumption and five large plants, this is the engine that built the company - and its cash-upfront model funds everything else.** - **Dominant scale, not just a large share** - the company sold 5,62,060 metric tonnes of feed in FY26, against an estimated national total of 11-12 lakh metric tonnes, so about one in every two tonnes of shrimp feed used in India carries an Avanti brand. - **Cash before dispatch** - 90-95% of feed sales are collected in advance, and the small remainder is secured by collateral and collected within 15-20 days, which means the feed business generates cash before it ships product. - **Buys raw materials when crops arrive, not when mills need them** - the company uses its cash reserves to build inventory of fishmeal and soybean meal right after harvest, when prices are low, rather than buying on the spot market all year. - **Formula discipline is the farmer’s insurance** - management refuses to substitute cheaper ingredients such as DDGS into the feed, even when fishmeal prices double, because a compromised formula risks the farmer’s entire crop and the trust that underpins the 50% market share. - **A technical field army, not just a sales force** - a nationwide team of aquaculture experts provides pond-management guidance, seed-selection advice, disease diagnostics and farmer training, available 24/7, which ties the farmer to the feed brand beyond price. ## 2. Shrimp processing and export: the global kitchen for US retailers **It buys shrimp from Indian farms, transforms it into frozen raw, cooked and value-added products across three plants, and sells it mainly as an OEM supplier to American retail and food-service chains.** - **Made for someone else’s label** - the division operates primarily as an original equipment manufacturer for US retailers, because those retailers already have their own brands and there is little room for an Indian processor to build a consumer brand in that market. - **Three plants, one new and one ageing** - combined annual capacity is 36,000 tonnes across two older facilities (expanded to 29,000 tonnes) and a new state-of-the-art plant at Krishnapuram, Andhra Pradesh, near a port, which shipped its first export invoice in March 2024; the oldest plant dates to 1997 and needs renovation. - **America is the big customer, but the mix is shifting** - North America took 68.3% of processed shrimp sales in FY26, down from 83.4% in FY24, while Asia rose to 16.7% and Europe was 14.6%, a deliberate push to reduce dependence on a single geography. - **Short-term orders, not annual contracts** - sales are mostly spot buys or a few short-term contracts, with no fixed annual volumes, so revenue visibility is limited and the business rides the seasonal shrimp harvest cycle. - **Regulatory and tariff whiplash is part of the cost of doing business** - the division has weathered a USFDA “red alert” and product recall over Salmonella in 2021 (later resolved and restored to green-list status), a US countervailing duty of 5.77% on Indian shrimp, and the recent imposition and subsequent court-ordered refund of IEEPA-based tariffs. ## 3. Shrimp hatchery: the seed that starts the crop **A single biosecure hatchery in Andhra Pradesh produces 600 million disease-free post-larvae a year, giving the company a presence at the very beginning of the shrimp farming cycle.** - **Specific Pathogen-Free from imported broodstock** - the hatchery relies on imported SPF Vannamei broodstock and runs an in-house laboratory that screens for disease at every stage, from broodstock arrival to post-larvae sale, with strict biosecurity and restricted staff movement. - **Small in revenue, strategic in role** - the hatchery accounted for just 0.24% of total turnover in FY23, but it closes the loop: the company supplies the seed, the feed, and then buys back the harvest for processing. ## 4. Pet food: a protein bet in its infancy **A recently launched premium cat-food brand, “Avant Furst,” is the first step into India’s pet-food market, with a manufacturing plant under development near Hyderabad.** - **Imported now, made-in-India later** - the brand launched in March 2025 in Hyderabad using products imported from Thai joint-venture partner Bluefalo Petcare, while a factory on 30 acres near Hyderabad is being readied for commercial production by early 2027. - **Sold online and in five cities** - distribution is through Amazon and Supertails, with physical presence in Mumbai, Pune, Chennai, Bangalore and Hyderabad, supported by digital marketing on Instagram and Facebook. - **Built on feed-manufacturing know-how** - the company describes pet food as “an identical product as the existing Shrimp Feed,” so the diversification leverages decades of extrusion and formulation experience. # Group structure and partners **The listed parent holds the feed and hatchery businesses directly, while shrimp processing, pet food and legacy power assets sit in subsidiaries - and a deep tie with Thai Union Group provides technology, market access and board representation.** - Avanti Frozen Foods Pvt. Ltd. runs the shrimp processing and export business; Avanti Feeds owns 60%, and the subsidiary previously had a US arm that was dissolved in 2023. - Avanti Pet Care Pvt. Ltd. is the pet-food vehicle, incorporated in July 2023 as a subsidiary; Avanti has invested ₹26.30 crores of a total approved ₹51.00 crores. - Srivathsa Power Projects Pvt. Ltd. is a 17.2 MW gas-based power plant that has been idle since FY23-24 because of unavailability of APM gas and uneconomic production costs. - Patikari Power Pvt. Ltd. is a 25.88% associate operating a 16 MW hydel project in Himachal Pradesh. - Thai Union Group PCL, Thailand, is the strategic anchor: it can nominate two directors to Avanti’s board, provides feed-formulation technology and global market intelligence, receives royalty payments (₹894.62 lakhs in FY24), and is a major buyer of Avanti’s shrimp products (₹38,331.36 lakhs in FY24). - A new Dutch subsidiary, SEALUXE B.V., was incorporated in October 2025 for the seafood industry and has yet to commence operations.

Documents — Avanti Feeds Ltd

  • Q1 FY2027 Earnings Call Transcript (Jun 2026, PDF): https://www.stockscans.in/document/qzhfkno79r5l8t94ui50okqv.pdf
  • Q4 FY2026 Earnings Call Transcript (Mar 2026, PDF): https://www.stockscans.in/document/2by25jk1h34gbe33ronoaycg.pdf
  • Q3 FY2026 Earnings Call Transcript (Dec 2025, PDF): https://www.stockscans.in/document/p77ax7urvf91zc79i2dft56m.pdf
  • Q2 FY2026 Earnings Call Transcript (Sep 2025, PDF): https://www.stockscans.in/document/1uqylyrxh7b6l5dviugot7gx.pdf
  • Q1 FY2026 Earnings Call Transcript (Jun 2025, PDF): https://www.stockscans.in/document/ao12v5p2vu8b6vq9mye7emb2.pdf
  • Q4 FY2025 Earnings Call Transcript (Mar 2025, PDF): https://www.stockscans.in/document/ypkbn9yes91de4pc01fbah5d.pdf
  • Q3 FY2025 Earnings Call Transcript (Dec 2024, PDF): https://www.stockscans.in/document/vgbwc2wuokhh86bmqwnlbhf8.pdf
  • Q2 FY2025 Earnings Call Transcript (Sep 2024, PDF): https://www.stockscans.in/document/7v52nmxq8fd0ujq254j04ehc.pdf
  • Q1 FY2027 Quarterly Result (Jun 2026, PDF): https://www.stockscans.in/document/u9twupv6i6f8i1kvng5wx8ei.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/qhl2dms0q9mcygquxn37hinu.pdf
  • Q3 FY2026 Quarterly Result (Dec 2025, PDF): https://www.stockscans.in/document/p1x2vys87rhyiy940erm34jg.pdf
  • Q3 FY2025 Quarterly Result (Dec 2024, PDF): https://www.stockscans.in/document/sl6mwwnavd0lbvailk7vqm3p.pdf
  • Q2 FY2025 Quarterly Result (Sep 2024, PDF): https://www.stockscans.in/document/141s0zgch7tjpywldshqt8aa.pdf
  • Q3 FY2024 Quarterly Result (Dec 2023, PDF): https://www.stockscans.in/document/tey77ako129ymb9uqjgzivbt.pdf
  • Q2 FY2024 Quarterly Result (Sep 2023, PDF): https://www.stockscans.in/document/y6fp8snxsjkcirgvuro6mt7h.pdf
  • Q4 FY2021 Quarterly Result (Mar 2021, PDF): https://www.stockscans.in/document/n1cacuy3iw8ofixqei7c9cn4.pdf
  • Q1 FY2027 Investor Presentation (Jun 2026, PDF): https://www.stockscans.in/document/r0bpfxf4mty9jjp9kfh7vxiv.pdf
  • Q4 FY2026 Investor Presentation (Mar 2026, PDF): https://www.stockscans.in/document/7dnhuq6ii697uolqgbf4xa4c.pdf
  • Q3 FY2026 Investor Presentation (Dec 2025, PDF): https://www.stockscans.in/document/1brhj9915qgrzryv29rqnm94.pdf
  • Q2 FY2026 Investor Presentation (Sep 2025, PDF): https://www.stockscans.in/document/l2d1cn7bkpzaoik5veevxuwg.pdf
  • Q1 FY2026 Investor Presentation (Jun 2025, PDF): https://www.stockscans.in/document/y9o1t1awcqjxjt4rd7a7uicw.pdf
  • Q4 FY2025 Investor Presentation (Mar 2025, PDF): https://www.stockscans.in/document/ih6x2uuxesi2rymip0cr1zng.pdf
  • Q3 FY2025 Investor Presentation (Dec 2024, PDF): https://www.stockscans.in/document/38unn3epm4cqzl4by5zeea4h.pdf
  • Q2 FY2025 Investor Presentation (Sep 2024, PDF): https://www.stockscans.in/document/17s25wyn2u3jkon0vza8hp8y.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/xnhirvzs7a0p50gbpdm0offd.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/ytz9xs57lmintlhaj5dc7lsv.pdf
  • FY2024 Annual Report (PDF): https://www.stockscans.in/document/gfs40f89ftmzkkbi364ns3hf.pdf
  • FY2023 Annual Report (PDF): https://www.stockscans.in/document/93gpa0d5lixohd1cc15t1vhe.pdf
  • FY2022 Annual Report (PDF): https://www.stockscans.in/document/b95tawz5mlh553mrlvav4pnc.pdf
  • FY2021 Annual Report (PDF): https://www.stockscans.in/document/zngm0ierhw3ubenyp01gwfec.pdf
  • FY2020 Annual Report (PDF): https://www.stockscans.in/document/fze22ocknxmylkcic5666zm4.pdf

Concall Transcript Summaries — Avanti Feeds Ltd

  • Q1 FY2027 Concall Transcript Summary (Jun 2026): https://www.stockscans.in/company/NSE%3AAVANTIFEED/transcript-notes/202606/qzhfkno79r5l8t94ui50okqv.pdf
  • Q4 FY2026 Concall Transcript Summary (Mar 2026): https://www.stockscans.in/company/NSE%3AAVANTIFEED/transcript-notes/202603/2by25jk1h34gbe33ronoaycg.pdf
  • Q3 FY2026 Concall Transcript Summary (Dec 2025): https://www.stockscans.in/company/NSE%3AAVANTIFEED/transcript-notes/202512/p77ax7urvf91zc79i2dft56m.pdf
  • Q2 FY2026 Concall Transcript Summary (Sep 2025): https://www.stockscans.in/company/NSE%3AAVANTIFEED/transcript-notes/202509/1uqylyrxh7b6l5dviugot7gx.pdf
  • Q1 FY2026 Concall Transcript Summary (Jun 2025): https://www.stockscans.in/company/NSE%3AAVANTIFEED/transcript-notes/202506/ao12v5p2vu8b6vq9mye7emb2.pdf
  • Q4 FY2025 Concall Transcript Summary (Mar 2025): https://www.stockscans.in/company/NSE%3AAVANTIFEED/transcript-notes/202503/ypkbn9yes91de4pc01fbah5d.pdf
  • Q3 FY2025 Concall Transcript Summary (Dec 2024): https://www.stockscans.in/company/NSE%3AAVANTIFEED/transcript-notes/202412/vgbwc2wuokhh86bmqwnlbhf8.pdf
  • Q2 FY2025 Concall Transcript Summary (Sep 2024): https://www.stockscans.in/company/NSE%3AAVANTIFEED/transcript-notes/202409/7v52nmxq8fd0ujq254j04ehc.pdf