Apex Frozen Foods Limited - Weakness persists.

 

About Company

Apex is one of the integrated producer and exporter of shelf stable quality aquaculture products. We supply our ready-to-cook products to a diversified customer base consisting of food companies, retail chains, restaurants, club stores and distributors spread across the developed markets of USA, UK and various European countriesOur output majorly comprises of variants of processed Vannamei shrimp (White shrimp) and are sold under the brands owned by our customers and also through our brands namely Bay fresh, Bay Harvest and BayPremium.

Company strategically focus on the market of USA, which is the largest importer of aquaculture products in the world (Source- Crisil Report). Our integrated operations comprise of hatchery, farming, pre-processing, processing and exporting of aquaculture products. Our products and processes comply with stringent quality standards set by the developed markets we serve.

Company operates out of Andhra Pradesh, which is the most favourable state in India for aquaculture business. Our integrated operations span across our hatchery and farming on 1,032 acres of land and currently processing of approximately over 9,240 MTPA of finished products at our facility located at Kakinada. 

Company facility is approved by the Export Inspection Council for export to all countries excluding Australia and Custom Union. Our facility is also certified with BRC Food Grade, Best Aqua Culture Practices, HACCP and ASC.

For over two decades, our promoters have been associated with aquaculture business in Andhra Pradesh. Our Company leased a shrimp processing facility and commenced operations in the year 1995 after which we set-up our own shrimp processing facility in the year 2004.

Company commenced our export business since our inception as a partnership firm in the year 1995. We have grown at a CAGR of 33.53% over the last four years aided by rising demand for aquaculture products globally especially from USA and European Union, favourable state policies, and shifting of seafood processing activities by south-east Asian countries to India.

Company has processing facility is located at Kakinada, Andhra Pradesh with a capacity to process approximately over 9,240 MTPA of finished products and an additional pre-processing and processing arrangement at a facility owned by Royale Marine Impex Private Limited located at Bapatla, Andhra Pradesh, for a capacity to process around 3,000 MTPA of finished products. 

The processing facilities are supplemented by cold storage facilities located at Kakinada and Bapatla. Along with this, to further assuage our operations, we have our own fleet of vehicles with freezing capabilities.

Source - https://apexfrozenfoods.in/

CMP -       208

Year High - 365

Year Low  - 184

Returns 

One week 1%

One month 3%

3 months minus 5%

6 months minus 20%

1 year - minus 21%

The scrip has been falling since last one year recently hit Year Low.  Avoid

Technicals - Moving Averages

20 DMA -  201

50 DMA -  199

100 DMA - 217

200 DMA - 259

Date 06 June 2023

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