Avanti Feeds shares gain 10%, hit 52-week high as subsidiary enters pet food market

Avanti Feeds' share price has evaded the market turmoil, rising over 16 percent year-to-date.

Shares of Avanti Feeds gained as much as 10 percent to hit a 52-week high of Rs 810 in the afternoon on March 05 after its subsidiary, Avanti Pet Care Pvt. Ltd. (APCPL), marked its foray into India's pet food segment. The company launched its cat food brand, "Avant Frust," in Hyderabad, expanding beyond its core aquaculture business.

In a separate development, IIFL Facilities Services Limited acquired 59.77 lakh shares (4.39 percent) of Avanti Feeds at Rs 728 per share, while Thai Union Asia Investment Holding Limited offloaded an identical stake at the same price in the previous session.

Follow our LIVE blog for all the latest market updates

Avanti Feeds reported a strong earnings performance for the third quarter of FY25, with net profit surging 87 percent year-on-year to Rs 135.21 crore. Revenue from operations rose nearly 9 percent to Rs 1,365.77 crore. The shrimp feed segment saw a robust 12 percent increase in revenue to Rs 1,041.63 crore, while processed shrimp sales remained largely flat at Rs 321 crore. Revenue from the shrimp hatchery business rose to Rs 3.4 crore, while its power segment saw a decline to Rs 14 lakh.

The company also got a boost from the Union Budget 2025 after Finance Minister Nirmala Sitharaman announced measures to support India's fisheries sector, including an enabling framework for sustainable fishing in the country’s Exclusive Economic Zone (EEZ), with a focus on the Andaman and Lakshadweep regions. The government also raised the loan limit under the interest subvention scheme to Rs 5 lakh from Rs 3 lakh, a move expected to benefit farmers and fisherfolk.

Also read: Tweak LTCG structure if cutting rates not an option, say experts

At about 2:42 pm, shares of the company were trading at Rs 794, higher by 7.34 percent from the last close on the NSE. Avanti Feeds' share price has evaded the market turmoil, rising over 16 percent year-to-date.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before making any investment decisions.