# FMCG - Shrimp — company-by-company sector analysis

> FMCG - Shrimp: Avanti Feeds Ltd owns the largest revenue base AND the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-20. Not investment advice.

## Bottom line

FMCG - Shrimp has outperformed NIFTY 500 by 52.1% over 52 weeks and 25.4% over 13 weeks. 1 of 2 covered companies beat NIFTY on Mansfield relative strength, while 1 of 2 beat the sector itself. Avanti Feeds Ltd leads with revenue of ₹6,361 crore, based on 2 of 2 comparable companies through Jun 2026.

## Sector relative strength

FMCG - Shrimp has outperformed NIFTY 500 by 52.1% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 25.4%. 1 of 2 covered companies currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Apex Frozen Foods Ltd is the strongest against the sector itself at +17.2%.

13-week sector return versus NIFTY 500: -25%
52-week sector return versus NIFTY 500: 52%
Stocks leading NIFTY: 1/2
Stocks leading sector: 1/2

Central tension: The central tension: current leadership is concentrated, so durability matters more than rank.

Companies: 2
Combined market value: ₹13.1K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Apex Frozen Foods Ltd (APEX): 69/100 — Favorable setup; evidence 77%
   - Growth & earnings 27.6/35 | Capital efficiency 11.0/25 | Valuation 10.0/20 | Relative strength 20.0/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 3 of the last 12 weeks
   - Exact sum: 27.6 + 11 + 10 + 20 = 68.6
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Avanti Feeds Ltd (AVANTIFEED): 39/100 — Mixed-negative evidence; evidence 97%
   - Growth & earnings 11.5/35 | Capital efficiency 16.3/25 | Valuation 11.1/20 | Relative strength 0.0/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 11.5 + 16.3 + 11.1 + 0 = 38.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Market action

Apex Frozen Foods Ltd has the strongest one-year price move in FMCG - Shrimp at +91.2%. It also leads on Mansfield relative strength against NIFTY at +22.7%. 1 of 2 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-08-14.

### Strongest one-year price performers
1. Apex Frozen Foods Ltd (APEX): 91%
2. Avanti Feeds Ltd (AVANTIFEED): 35%

### Strongest relative strength versus NIFTY 500
1. Apex Frozen Foods Ltd (APEX): 23%
2. Avanti Feeds Ltd (AVANTIFEED): -14%

## FMCG - Shrimp — the story behind the numbers

This is the written read behind the FMCG - Shrimp figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 18 Apr 2026, so the words are older than the numbers. 5 themes are live here, 3 of them rated high severity.

The Indian shrimp sector is navigating a complex transition period as of Q3 FY26. While the headline demand environment is IMPROVING, the recovery is uneven. APEX Frozen Foods delivered a massive 1900% YoY PAT growth from a low base, yet total sales volumes actually declined by 5%.

How old this read is: STALE — this read comes from our FMCG - Shrimp sector brief dated 18 Apr 2026, about 4 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

### Live themes, worst first
- HIGH | New U.S. import surcharges (10-15%) and stringent EU testing protocols (50% mandatory testing) create trade barriers. | Negotiations for India-EU FTA and diversification into Asian markets. | quoted: "The U.S. Administration introduced a new temporary global import surcharge... initially set at 10% and subsequently announced to be raised at 15%." | named for APEX, AVANTIFEED
- HIGH | Rising farmgate prices (up INR 30-40/kg) and steep increases in fish meal (INR 117/kg) and soya bean meal. | Management expects realizations to realign and is using weighted average cost inventory. | quoted: "The prices of fish meal increased in Q3 FY26 to 117 per kg from INR 98 in Q2... soya bean meal are increasing steeply." | named for APEX, AVANTIFEED
- HIGH | U.S. Antidumping duty revision from 1.35% to 3.5% with retrospective effect. | Management is monitoring the effective date to adjust realizations. | quoted: "there will be a marginal increase on the antidumping duty from -- not marginal, sorry, from 1.35 to 3.5%." | named for APEX
- MEDIUM | Excess rains leading to a 10% reduction in Indian soya production. | quoted: "10% reduction in Indian soya production due to excess rains." | named for AVANTIFEED
- LOW | Potential shipping disruptions due to Middle East conflict. | Monitoring the situation; no immediate direct effect on major routes. | quoted: "Currently, this war is quite new... there should be some disruption. We need to see what happens." | named for AVANTIFEED

Sources: our FMCG - Shrimp sector brief, 18 Apr 2026 · company earnings-call transcripts.

## Revenue Scale & Growth Durability

What the numbers say: Avanti Feeds Ltd is the scale leader at ₹6,361 crore, 586.2% ahead of Apex Frozen Foods Ltd. Avanti Feeds Ltd's growth is 11.4% from a ₹6,361 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Avanti Feeds Ltd is the scale benchmark; Avanti Feeds Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Avanti Feeds Ltd's growth falls below Avanti Feeds Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Avanti Feeds Ltd · ₹6,361 crore | 586.2% versus #2 · Apex Frozen Foods Ltd | 8/8 recent comparable periods | 2/2 companies · 36 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Avanti Feeds Ltd (AVANTIFEED): ₹6.4K Cr
2. Apex Frozen Foods Ltd (APEX): ₹927 Cr

### Revenue growth — fastest growers
1. Avanti Feeds Ltd (AVANTIFEED): 11%
2. Apex Frozen Foods Ltd (APEX): 4.6%

### 20-quarter Revenue history
- AVANTIFEED: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.1K Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.6K Cr | Sep 2022 ₹1.0K Cr | Dec 2022 ₹1.1K Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹1.6K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.4K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹1.6K Cr | Sep 2025 ₹1.6K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 ₹1.9K Cr
- APEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹293 Cr | Dec 2022 ₹231 Cr | Mar 2023 ₹212 Cr | Jun 2023 ₹254 Cr | Sep 2023 ₹241 Cr | Dec 2023 ₹148 Cr | Mar 2024 ₹162 Cr | Jun 2024 ₹186 Cr | Sep 2024 ₹200 Cr | Dec 2024 ₹231 Cr | Mar 2025 ₹197 Cr | Jun 2025 ₹258 Cr | Sep 2025 ₹238 Cr | Dec 2025 ₹264 Cr | Mar 2026 ₹168 Cr | Jun 2026 ₹257 Cr

### 20-quarter Revenue growth history
- AVANTIFEED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 11% | Sep 2022 -17% | Dec 2022 3.2% | Mar 2023 -18% | Jun 2023 -1.0% | Sep 2023 25% | Dec 2023 14% | Mar 2024 17% | Jun 2024 -3.1% | Sep 2024 6.0% | Dec 2024 9.0% | Mar 2025 7.6% | Jun 2025 6.6% | Sep 2025 19% | Dec 2025 1.3% | Mar 2026 6.2% | Jun 2026 18%
- APEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -18% | Dec 2023 -36% | Mar 2024 -24% | Jun 2024 -27% | Sep 2024 -17% | Dec 2024 56% | Mar 2025 22% | Jun 2025 39% | Sep 2025 19% | Dec 2025 14% | Mar 2026 -15% | Jun 2026 -0.4%

## Operating Economics & Margin Trend

What the numbers say: Apex Frozen Foods Ltd leads both opm at 12% and margin change at +6 percentage points.

Investor read: Apex Frozen Foods Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Apex Frozen Foods Ltd · 12% | 100% versus #2 · Avanti Feeds Ltd | 5/8 recent comparable periods | 2/2 companies · 40 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Apex Frozen Foods Ltd (APEX): 12%
2. Avanti Feeds Ltd (AVANTIFEED): 6.0%

### Margin change — fastest expanders
1. Apex Frozen Foods Ltd (APEX): +6.0 pp
2. Avanti Feeds Ltd (AVANTIFEED): −7.0 pp

### 20-quarter OPM history
- AVANTIFEED: Sep 2021 3.3% | Dec 2021 6.1% | Mar 2022 8.6% | Jun 2022 6.6% | Sep 2022 4.0% | Dec 2022 7.0% | Mar 2023 12% | Jun 2023 9.0% | Sep 2023 7.0% | Dec 2023 8.0% | Mar 2024 10% | Jun 2024 11% | Sep 2024 10% | Dec 2024 12% | Mar 2025 13% | Jun 2025 13% | Sep 2025 12% | Dec 2025 13% | Mar 2026 11% | Jun 2026 6.0%
- APEX: Sep 2021 12% | Dec 2021 8.0% | Mar 2022 8.8% | Jun 2022 5.1% | Sep 2022 4.0% | Dec 2022 8.0% | Mar 2023 3.6% | Jun 2023 5.0% | Sep 2023 8.0% | Dec 2023 6.0% | Mar 2024 0.8% | Jun 2024 6.0% | Sep 2024 2.0% | Dec 2024 1.7% | Mar 2025 3.3% | Jun 2025 6.0% | Sep 2025 4.8% | Dec 2025 5.0% | Mar 2026 8.0% | Jun 2026 12%

### 20-quarter Margin change history
- AVANTIFEED: Sep 2021 −10.2 pp | Dec 2021 −4.0 pp | Mar 2022 +0.8 pp | Jun 2022 +0.0 pp | Sep 2022 +0.7 pp | Dec 2022 +1.0 pp | Mar 2023 +3.4 pp | Jun 2023 +2.4 pp | Sep 2023 +3.0 pp | Dec 2023 +1.0 pp | Mar 2024 −2.0 pp | Jun 2024 +2.0 pp | Sep 2024 +3.0 pp | Dec 2024 +4.0 pp | Mar 2025 +3.0 pp | Jun 2025 +2.0 pp | Sep 2025 +2.0 pp | Dec 2025 +1.0 pp | Mar 2026 −2.0 pp | Jun 2026 −7.0 pp
- APEX: Sep 2021 −4.6 pp | Dec 2021 +1.0 pp | Mar 2022 −1.7 pp | Jun 2022 +1.0 pp | Sep 2022 −7.6 pp | Dec 2022 +0.1 pp | Mar 2023 −5.2 pp | Jun 2023 −0.1 pp | Sep 2023 +4.0 pp | Dec 2023 −2.0 pp | Mar 2024 −2.8 pp | Jun 2024 +1.0 pp | Sep 2024 −6.0 pp | Dec 2024 −4.3 pp | Mar 2025 +2.5 pp | Jun 2025 0.0 pp | Sep 2025 +2.8 pp | Dec 2025 +3.3 pp | Mar 2026 +4.7 pp | Jun 2026 +6.0 pp

## Profit Scale & Acceleration

What the numbers say: Avanti Feeds Ltd leads with ₹587 crore of TTM profit, 11.3× the profit of Apex Frozen Foods Ltd. Apex Frozen Foods Ltd shows ≥100% on the scoring scale (477.8% uncapped) growth from a ₹52 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Avanti Feeds Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Avanti Feeds Ltd · ₹587 crore | 11.3× versus #2 · Apex Frozen Foods Ltd | 6/8 recent comparable periods | 2/2 companies · 36 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Avanti Feeds Ltd (AVANTIFEED): ₹587 Cr
2. Apex Frozen Foods Ltd (APEX): ₹52 Cr

### Profit growth — fastest growers
1. Apex Frozen Foods Ltd (APEX): 100%
2. Avanti Feeds Ltd (AVANTIFEED): -3.0%

### 20-quarter Net profit history
- AVANTIFEED: Sep 2021 ₹33 Cr | Dec 2021 ₹44 Cr | Mar 2022 ₹92 Cr | Jun 2022 ₹73 Cr | Sep 2022 ₹40 Cr | Dec 2022 ₹71 Cr | Mar 2023 ₹101 Cr | Jun 2023 ₹115 Cr | Sep 2023 ₹83 Cr | Dec 2023 ₹83 Cr | Mar 2024 ₹113 Cr | Jun 2024 ₹138 Cr | Sep 2024 ₹121 Cr | Dec 2024 ₹141 Cr | Mar 2025 ₹157 Cr | Jun 2025 ₹186 Cr | Sep 2025 ₹169 Cr | Dec 2025 ₹163 Cr | Mar 2026 ₹139 Cr | Jun 2026 ₹116 Cr
- APEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹14 Cr | Dec 2022 ₹8 Cr | Mar 2023 ₹-4 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹4 Cr | Sep 2024 ₹-2 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹9 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹10 Cr | Mar 2026 ₹8 Cr | Jun 2026 ₹22 Cr

### 20-quarter Profit growth history
- AVANTIFEED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -4.0% | Sep 2022 21% | Dec 2022 61% | Mar 2023 9.8% | Jun 2023 58% | Sep 2023 108% | Dec 2023 17% | Mar 2024 12% | Jun 2024 20% | Sep 2024 46% | Dec 2024 70% | Mar 2025 39% | Jun 2025 35% | Sep 2025 40% | Dec 2025 16% | Mar 2026 -11% | Jun 2026 -38%
- APEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -43% | Dec 2023 -63% | Mar 2024 — | Jun 2024 0.0% | Sep 2024 -125% | Dec 2024 -100% | Mar 2025 — | Jun 2025 125% | Sep 2025 — | Dec 2025 — | Mar 2026 300% | Jun 2026 144%

## Return On Capital Employed

What the numbers say: Avanti Feeds Ltd leads ROCE at 24.4%, 14 percentage points above Apex Frozen Foods Ltd. Apex Frozen Foods Ltd has the strongest latest improvement at +5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Avanti Feeds Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Avanti Feeds Ltd · 24.4% | 134.6% versus #2 · Apex Frozen Foods Ltd | 8/8 recent comparable periods | 2/2 companies · 32 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Avanti Feeds Ltd (AVANTIFEED): 24%
2. Apex Frozen Foods Ltd (APEX): 10%

### ROCE change — fastest improvers
1. Apex Frozen Foods Ltd (APEX): +5.0 pp
2. Avanti Feeds Ltd (AVANTIFEED): +0.5 pp

### 20-quarter ROCE history
- AVANTIFEED: Sep 2021 13% | Dec 2021 — | Mar 2022 13% | Jun 2022 — | Sep 2022 15% | Dec 2022 — | Mar 2023 15% | Jun 2023 20% | Sep 2023 16% | Dec 2023 22% | Mar 2024 15% | Jun 2024 22% | Sep 2024 16% | Dec 2024 25% | Mar 2025 18% | Jun 2025 27% | Sep 2025 20% | Dec 2025 29% | Mar 2026 18% | Jun 2026 —
- APEX: Sep 2021 12% | Dec 2021 — | Mar 2022 14% | Jun 2022 — | Sep 2022 12% | Dec 2022 — | Mar 2023 10% | Jun 2023 8.6% | Sep 2023 8.2% | Dec 2023 5.3% | Mar 2024 5.0% | Jun 2024 5.7% | Sep 2024 2.3% | Dec 2024 2.5% | Mar 2025 2.0% | Jun 2025 4.5% | Sep 2025 4.4% | Dec 2025 9.7% | Mar 2026 7.0% | Jun 2026 —

### 20-quarter ROCE change history
- AVANTIFEED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.2 pp | Dec 2022 — | Mar 2023 +1.5 pp | Jun 2023 — | Sep 2023 +1.0 pp | Dec 2023 — | Mar 2024 +0.1 pp | Jun 2024 +2.3 pp | Sep 2024 +0.3 pp | Dec 2024 +2.7 pp | Mar 2025 +3.2 pp | Jun 2025 +5.3 pp | Sep 2025 +3.9 pp | Dec 2025 +3.6 pp | Mar 2026 +0.5 pp | Jun 2026 —
- APEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.2 pp | Dec 2022 — | Mar 2023 −3.4 pp | Jun 2023 — | Sep 2023 −3.7 pp | Dec 2023 — | Mar 2024 −5.1 pp | Jun 2024 −2.9 pp | Sep 2024 −5.9 pp | Dec 2024 −2.8 pp | Mar 2025 −3.0 pp | Jun 2025 −1.2 pp | Sep 2025 +2.1 pp | Dec 2025 +7.2 pp | Mar 2026 +5.0 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Avanti Feeds Ltd has the lowest comparable PEG at 1.35×. Only 1 of 2 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Avanti Feeds Ltd · 1.35× | Not enough peers | 0/8 recent comparable periods | 1/2 companies · 14 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG
1. Avanti Feeds Ltd (AVANTIFEED): 1.4

### P/E — lowest P/E
1. Avanti Feeds Ltd (AVANTIFEED): 21.8
2. Apex Frozen Foods Ltd (APEX): 26.9

### 20-quarter PEG history
- AVANTIFEED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 0.4 | Mar 2023 0.7 | Jun 2023 0.9 | Sep 2023 0.5 | Dec 2023 0.5 | Mar 2024 0.7 | Jun 2024 0.9 | Sep 2024 1.3 | Dec 2024 — | Mar 2025 0.7 | Jun 2025 0.4 | Sep 2025 0.3 | Dec 2025 0.9 | Mar 2026 0.8 | Jun 2026 1.4

### 20-quarter P/E history
- AVANTIFEED: Sep 2021 22.8 | Dec 2021 30.3 | Mar 2022 26.0 | Jun 2022 23.9 | Sep 2022 27.6 | Dec 2022 20.6 | Mar 2023 16.8 | Jun 2023 18.6 | Sep 2023 18.6 | Dec 2023 16.8 | Mar 2024 18.9 | Jun 2024 22.8 | Sep 2024 22.2 | Dec 2024 20.1 | Mar 2025 25.9 | Jun 2025 18.5 | Sep 2025 15.2 | Dec 2025 18.4 | Mar 2026 26.0 | Jun 2026 21.4
- APEX: Sep 2021 23.4 | Dec 2021 25.9 | Mar 2022 21.7 | Jun 2022 18.5 | Sep 2022 16.5 | Dec 2022 16.1 | Mar 2023 12.8 | Jun 2023 18.5 | Sep 2023 33.7 | Dec 2023 44.5 | Mar 2024 56.4 | Jun 2024 47.6 | Sep 2024 52.9 | Dec 2024 158.0 | Mar 2025 164.6 | Jun 2025 196.0 | Sep 2025 76.9 | Dec 2025 41.4 | Mar 2026 37.9 | Jun 2026 32.8


## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
- Thin comparisons: Valuation have fewer than three usable current readings.

## Every company
- Avanti Feeds Ltd (AVANTIFEED) — market value ₹11.7K Cr; latest fundamentals Jun 2026
- Apex Frozen Foods Ltd (APEX) — market value ₹1.3K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures

## Source standing of each company

Cross-checked: 1. Unverified: 1. Withheld: 0. Graded companies: 2.

1 of 2 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

- UNVERIFIED | APEX | Apex Frozen Foods Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-08-14.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the FMCG - Shrimp sector outperforming NIFTY 500?

FMCG - Shrimp has outperformed NIFTY 500 by 52.1% over 52 weeks and 25.4% over 13 weeks. 1 of 2 covered companies beat NIFTY on Mansfield relative strength, while 1 of 2 beat the sector itself.

### Which FMCG - Shrimp company is largest by revenue?

Avanti Feeds Ltd leads with revenue of ₹6,361 crore, based on 2 of 2 comparable companies through Jun 2026.

### Which FMCG - Shrimp company is growing fastest?

Avanti Feeds Ltd has the fastest current revenue growth at 11.4%, across 2 of 2 comparable companies.

### Which FMCG - Shrimp company has the strongest 4-Factor Sector Score?

Apex Frozen Foods Ltd ranks first at 68.6/100 with 77% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which FMCG - Shrimp company has the lowest comparable PEG?

Avanti Feeds Ltd has the lowest comparable PEG at 1.35, among 1 of 2 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this FMCG - Shrimp comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

### Is there a Nifty FMCG - Shrimp index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers FMCG - Shrimp, this page builds its own equal-weight basket of 2 listed FMCG - Shrimp companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

### Which are the best FMCG - Shrimp stocks in India?

Ranked by this page's four-factor score, Apex Frozen Foods Ltd places first among 2 listed FMCG - Shrimp companies, followed by Avanti Feeds Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many FMCG - Shrimp stocks are listed in India?

This comparison covers 2 listed FMCG - Shrimp companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

### Which FMCG - Shrimp company is the biggest?

Avanti Feeds Ltd is the largest, with trailing-twelve-month revenue of ₹6,361 crore, ahead of Apex Frozen Foods Ltd at ₹927 crore. That covers 2 of 2 companies with comparable reporting through Jun 2026.

### Which FMCG - Shrimp company has the best profit margins?

Apex Frozen Foods Ltd has the highest operating margin at 12%, from 2 of 2 comparable companies. Apex Frozen Foods Ltd shows the biggest recent improvement, at +6 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which FMCG - Shrimp company makes the most profit?

Avanti Feeds Ltd earns the most, at ₹587 crore of trailing-twelve-month net profit, from 2 of 2 comparable companies. Apex Frozen Foods Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

### Which FMCG - Shrimp company earns the highest return on capital?

Avanti Feeds Ltd leads on return on capital employed at 24.4%, across 2 of 2 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which FMCG - Shrimp stock is the cheapest?

On PEG — where a LOWER number is cheaper — Avanti Feeds Ltd screens cheapest at 1.35×. Only 1 of 2 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the FMCG - Shrimp sector beating the market?

FMCG - Shrimp has outperformed NIFTY 500 by 52.1% over the last 52 weeks and 25.4% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 2 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which FMCG - Shrimp stock has the strongest price momentum?

Apex Frozen Foods Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which FMCG - Shrimp company scores highest for research priority?

Apex Frozen Foods Ltd scores 68.6 out of 100 with 77% evidence confidence, from 27.6 points on growth and earnings, 11 on capital efficiency, 10 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many FMCG - Shrimp companies does this comparison cover, and over what period?

It compares 2 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the FMCG - Shrimp sector?

The 2 FMCG - Shrimp companies on this page carry ₹13,068 crore of combined market value. Avanti Feeds Ltd is the largest at ₹11,736 crore, about 90% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-20.

### How is the FMCG - Shrimp sector performing?

1 of the 2 covered FMCG - Shrimp companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 52.1% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-20.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.