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Swing Capital

Apex Frozen Foods Ltd

NSE: APEX BSE: 540692

Incorporated in 1995, Apex Frozen Foods Ltd is in the business of processing and exporting of Shrimps[1]

₹427
52W: ₹203 — ₹514
PE 42.9 · Book ₹163 · +162% vs book
Market Cap₹1,334 Cr
Stock P/E42.9Price to Earnings
ROCE2.43%Return on Capital
ROE0.76%Return on Equity
Div. Yield0.46%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 75.2%

Weaknesses

  • −Stock is trading at 2.57 times its book value
  • −The company has delivered a poor sales growth of -0.33% over past five years.
  • −Company has a low return on equity of 3.65% over last 3 years.
  • −Earnings include an other income of Rs.16.8 Cr.

Shareholding Pattern

Promoters72.62%
FIIs6%
DIIs0.66%
Public20.73%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters72.62%72.62%72.62%72.62%72.62%72.62%72.62%72.62%
FIIs1.27%2.43%▲1.23.37%▲0.93.29%▼0.14.18%▲0.94.84%▲0.74.74%▼0.16%▲1.3
DIIs0.22%0.76%▲0.50.37%▼0.40.44%▲0.10.55%▲0.10.55%0.55%0.66%▲0.1
Public25.86%24.18%▼1.723.64%▼0.523.65%▲0.022.64%▼1.021.97%▼0.722.08%▲0.120.73%▼1.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales241148162186200231197258238264
Expenses222140160175196227191243227251
Operating Profit198111447151113
OPM %8%6%1%6%2%2%3%6%5%5%
Net Profit8304-20291210
EPS ₹2.670.95-0.121.22-0.53-0.070.632.913.83.23

AI Insights

Revenue Trend

TTM revenue at ₹958Cr, up 17.7% YoY. OPM at 5%.

Debt Position

Borrowings at ₹41Cr. Debt-to-equity ratio: 0.09x. Healthy balance sheet.

Capex Cycle

CWIP at ₹1Cr (0% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.66% (-3.85pp change). FIIs: 6% (+5.98pp change). Promoters hold 72.62%.

Margin & Efficiency

ROCE declining from 28% (Mar 2014) to 2% (Mar 2025). Working capital days: 110.

Valuation

PE 42.9x with 2.43% ROCE. Price is 162% above book value of ₹163. Dividend yield: 0.46%.

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