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Apex Frozen Foods Ltd.
(APEX)
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Rating:62Neutral
Price Target:
₹460.00
▲(49.47% Upside)
Action:Reiterated
Date:06/02/26
The score is primarily supported by the strong FY2026 financial recovery (higher profitability, much stronger cash generation, and very low leverage). Offsetting this are weaker near-term technicals and a relatively expensive valuation with low dividend yield.
Positive Factors
Very low leverage
Balance sheet deleveraging to near-zero debt materially increases financial flexibility over the medium term. Low leverage reduces interest burden, lowers refinancing risk, and gives management capacity to fund working capital, capex, or opportunistic investments during industry cycles without straining cash flows.
Negative Factors
Choppy historical cash flow
Past swings in operating and free cash flow, including a negative year, signal execution and working-capital volatility risks. For an export-oriented processor, episodic FCF weakness can force short-term financing, constrain investment timing, and make planning for seasonal procurement and capacity utilization harder.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Balance sheet deleveraging to near-zero debt materially increases financial flexibility over the medium term. Low leverage reduces interest burden, lowers refinancing risk, and gives management capacity to fund working capital, capex, or opportunistic investments during industry cycles without straining cash flows.
Read all positive factors
Apex Frozen Foods Ltd. (APEX) vs. iShares MSCI India ETF (INDA)
Market Cap
₹12.61B
Dividend Yield0.72%
Average Volume (3M)27.56K
Price to Earnings (P/E)32.6
Beta (1Y)1.90
Revenue Growth14.38%
EPS Growth901.98%
CountryIN
Employees2,917
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)7.26
Shares Outstanding31,250,000
10 Day Avg. Volume4,326
30 Day Avg. Volume27,564
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)2.15
Price to Sales (P/S)1.22
P/FCF Ratio13.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)40.5
Revenue Forecast (FY)₹13.84B
Apex Frozen Foods Ltd. Business Overview & Revenue Model
Company Description
Apex Frozen Foods Limited specializes in the cultivation, processing, manufacture, and distribution of shrimp products. The company offers a diverse range of ready-to-cook white leg and black tiger shrimp varieties. Their extensive product portfol...
How the Company Makes Money
APEX makes money primarily by selling processed frozen shrimp to customers in export markets. Its revenue model is centered on (1) procurement and farming support: sourcing shrimp (including from its own aquaculture operations and/or from farmers)...
Apex Frozen Foods Ltd. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
80
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.86B | 9.31B | 8.14B | 7.59B | 8.95B | 7.98B |
| Gross Profit | 2.17B | 2.78B | 1.64B | 1.58B | 2.39B | 1.58B |
| EBITDA | 526.85M | 555.58M | 297.30M | 435.41M | 909.18M | 984.63M |
| Net Income | 227.13M | 388.48M | 38.77M | 145.99M | 410.75M | 442.85M |
Balance Sheet | ||||||
| Total Assets | 6.31B | 5.93B | 6.13B | 6.33B | 6.78B | 6.57B |
| Cash, Cash Equivalents and Short-Term Investments | 139.00M | 185.27M | 52.28M | 98.64M | 9.68M | 347.34M |
| Total Debt | 405.93M | 56.77M | 726.50M | 1.07B | 1.68B | 1.68B |
| Total Liabilities | 1.21B | 645.92M | 1.19B | 1.36B | 2.09B | 2.17B |
| Stockholders Equity | 5.09B | 5.28B | 4.94B | 4.97B | 4.68B | 4.40B |
Cash Flow | ||||||
| Free Cash Flow | 434.28M | 856.61M | 389.84M | -10.34M | 249.08M | 3.31M |
| Operating Cash Flow | 463.52M | 923.04M | 437.87M | 111.61M | 355.43M | 129.20M |
| Investing Cash Flow | -83.44M | -57.37M | -25.90M | -82.74M | -104.80M | -140.08M |
| Financing Cash Flow | -349.14M | -733.08M | -419.91M | -15.58M | -267.39M | 37.49M |
Apex Frozen Foods Ltd. Technical Analysis
Negative
307.75
Price Trends
439.63
Negative
416.46
Negative
339.99
Positive
Market Momentum
-8.29
Positive
43.04
Neutral
32.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:APEX, the sentiment is Negative. The current price of 307.75 is below the 20-day moving average (MA) of 410.52, below the 50-day MA of 439.63, and below the 200-day MA of 339.99, indicating a neutral trend. The MACD of -8.29 indicates Positive momentum. The RSI at 43.04 is Neutral, neither overbought nor oversold. The STOCH value of 32.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:APEX.
Apex Frozen Foods Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹16.56B | 15.91 | ― | 0.36% | 54.27% | 199.83% | |
67 Neutral | ₹10.32B | 42.25 | ― | 0.06% | ― | ― | |
62 Neutral | ₹12.61B | 32.62 | ― | 0.72% | 14.38% | 901.98% | |
59 Neutral | ₹6.74B | 10.31 | ― | 2.49% | -5.88% | -41.97% | |
57 Neutral | ₹4.63B | 15.18 | ― | 0.43% | -13.44% | -35.27% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹4.64B | 13.52 | ― | ― | 18.43% | 3.87% |
* General Sector Average
IN:APEX
Apex Frozen Foods Ltd.
403.60
162.50
67.40%
IN:FOODSIN
Foods & Inns Ltd.
62.99
-50.65
-44.57%
IN:KRISHIVAL
Krishival Foods Limited
402.65
40.57
11.20%
IN:MAGADSUGAR
Magadh Sugar & Energy Ltd.
478.65
-158.08
-24.83%
IN:SARVESHWAR
Sarveshwar Foods Ltd.
3.77
-4.37
-53.69%
IN:SKMEGGPROD
SKM Egg Products Export (India) Ltd.
314.50
182.40
138.07%
Apex Frozen Foods Ltd. Corporate Events
Apex Frozen Foods Promoters Retain 72.62% Stake With No Encumbrance in FY26
Jun 2, 2026
Apex Frozen Foods Ltd. has informed the stock exchanges that its promoters, their relatives, and persons acting in concert collectively held 2,26,94,057 equity shares, representing 72.62% of the company’s equity, as of 31 March 2026. The com...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.