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ICICI Securities Report
Takeaways from Avanti Feeds Ltd.'s Q4 FY21:
1. Likely reduction in shrimp off-take by hotel-restaurant-cafe sector in key market of USA impacted processed shrimp segment. It reported revenue decline of 22.8% YoY,
2. shrimp feed reported 15.2% revenue growth indicating strong cultivation of shrimps which augurs well for FY22. We believe the company is well poised to gain market shares in shrimp feed from smaller exporters and
3. with higher input prices, there will be pressure on near term margins but we model the company to pass on additional costs via price hikes with a lag effect.
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