Apex Frozen Foods Ltd. (APEX) AI Stock Analysis

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Apex Frozen Foods Ltd.

(NSE:APEX)

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Rating:63Neutral

Price Target:INR 312.00▲(6.43% Upside)

Action:reiterated

Date:09/06/26

The score is driven primarily by improved financial performance in FY2026 (margin recovery, stronger free cash flow, and sharply reduced leverage), tempered by historical volatility in earnings and cash flow. Technical indicators are a notable drag due to weak momentum and the stock trading below major moving averages. Valuation is middling with a moderate P/E and a low dividend yield.

Positive Factors

Margin recoveryThe sharp improvement in gross and net margins indicates stronger profitability through better pricing, product mix, and/or cost control. If maintained, the recovery can improve earnings resilience, support reinvestment, and strengthen Apex’s ability to compete across international seafood markets.

Negative Factors

Cyclical earnings volatilityThe wide movement in profitability across recent fiscal years shows that Apex’s earnings power remains sensitive to the operating cycle. This reduces confidence that the FY2026 margin recovery will persist and makes forecasting profits and returns less reliable over the medium term.

Apex Frozen Foods Ltd. (APEX) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 9.14B
Dividend Yield: 0.85%
Average Volume (3M): 17.88K
Price to Earnings (P/E): 17.8
Beta (1Y): 1.94
Revenue Growth: 4.37%
EPS Growth: 460.62%
Country: India
Employees: 2,068
Sector: General
Sector Strength: 55
Industry: Agricultural Farm Products

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 portfolio...

Apex Frozen Foods Ltd. Financial Statement Overview

Summary

FY2026 showed a strong rebound: net margin improved to ~4.2% (from ~0.5%), gross margin expanded to ~29.9% (from ~20.1%), and free cash flow nearly doubled (~+97% YoY) with solid earnings quality (FCF/NI ~0.93). Balance sheet leverage is now very low (debt-to-equity ~0.01). The main offset is multi-year volatility (notably FY2025 margin compression and historically choppy cash flow, including negative FCF in FY2024), which reduces confidence in stability.

Income Statement

63Positive

Balance Sheet

80Positive

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	8.94B	9.31B	8.14B	7.59B	10.11B	8.95B
Gross Profit	2.61B	2.78B	1.64B	1.58B	2.22B	2.39B
EBITDA	592.67M	728.70M	297.30M	435.41M	847.66M	909.18M
Net Income	514.14M	388.48M	38.77M	145.99M	358.74M	410.75M
Balance Sheet
Total Assets	0	5.93B	6.13B	6.33B	6.14B	6.78B
Cash, Cash Equivalents and Short-Term Investments	185.27M	185.27M	52.28M	98.64M	16.20M	9.68M
Total Debt	0	56.77M	726.50M	1.07B	905.80M	1.68B
Total Liabilities	-5.28B	645.92M	1.19B	1.36B	1.24B	2.09B
Stockholders Equity	5.28B	5.28B	4.94B	4.97B	4.90B	4.68B
Cash Flow
Free Cash Flow	434.28M	856.61M	389.84M	-10.34M	985.03M	249.08M
Operating Cash Flow	463.52M	923.04M	437.87M	111.61M	1.21B	355.43M
Investing Cash Flow	-83.44M	-57.37M	-25.90M	-82.74M	-217.98M	-104.80M
Financing Cash Flow	-349.14M	-733.08M	-419.91M	-15.58M	-987.35M	-267.39M

Apex Frozen Foods Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price293.15

Price Trends

50DMA349.93Negative

100DMA372.32Negative

200DMA381.69Negative

Market Momentum

MACD-14.30Positive

RSI28.72Positive

STOCH17.88Positive

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 293.15 is below the 20-day moving average (MA) of 322.79, below the 50-day MA of 349.93, and below the 200-day MA of 381.69, indicating a bearish trend. The MACD of -14.30 indicates Positive momentum. The RSI at 28.72 is Positive, neither overbought nor oversold. The STOCH value of 17.88 is Positive, 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:APEX against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:GODREJAGRO	72Outperform	INR 106.57B	23.82	―	1.99%	8.58%	-1.86%
IN:APEX	63Neutral	INR 9.16B	17.78	―	0.85%	4.37%	460.62%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:SAKUMA	54Neutral	INR 3.14B	28.98	―	―	-13.44%	-0.73%
IN:VENKEYS	53Neutral	INR 21.12B	12.22	―	0.67%	18.28%	202.79%
IN:SHANTI	45Neutral	INR 65.97M	-0.85	―	―	-58.09%	-230.09%
IN:UMAEXPORTS	37Underperform	INR 641.37M	752.23	―	―	-11.76%	―

* General Sector Average

Performance Comparison

IN:APEX and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:APEX	Apex Frozen Foods Ltd.	293.15	53.68	22.42%
IN:GODREJAGRO	Godrej Agrovet Limited	553.85	-94.65	-14.59%
IN:SAKUMA	Sakuma Exports Limited	2.00	-0.88	-30.56%
IN:SHANTI	Shanti Overseas (India) Ltd.	5.94	-4.20	-41.42%
IN:UMAEXPORTS	Uma Exports Ltd.	18.97	-28.20	-59.78%
IN:VENKEYS	Venky's (India) Limited	1499.25	-24.66	-1.62%

Apex Frozen Foods Ltd. Corporate Events

Apex Frozen Foods Clears All Resolutions, Declares Final Dividend at 14th AGM

Sep 18, 2026

Apex Frozen Foods Ltd. reported the results of its 14th Annual General Meeting, held on September 17, 2026 via video conferencing, with 84 shareholders attending virtually, including three from the promoter group and 81 from the public. The company d...

Apex Frozen Foods Shareholders Clear FY26 Accounts, Dividend and Chairman Reappointment

Sep 18, 2026

Apex Frozen Foods Ltd. reported the voting outcomes of its 14th Annual General Meeting, held on September 17, 2026 via video conferencing, with 84 shareholders attending online and resolutions passed through remote and venue e-voting. Shareholders ap...

Apex Frozen Foods Holds 14th AGM via Video Conferencing

Sep 17, 2026

Apex Frozen Foods Ltd. held its 14th Annual General Meeting on September 17, 2026, via video conferencing and other audio-visual means, in line with provisions of the Companies Act, 2013 and relevant regulatory circulars. The board, including the cha...

Apex Frozen Foods Publishes Q1 FY27 Earnings Call Transcript

Aug 22, 2026

Apex Frozen Foods Limited has released the transcript of its Q1 FY27 earnings conference call held on August 18, 2026, detailing highlights of its unaudited financial results for the quarter ended June 30, 2026. The company noted that the information...

Apex Frozen Foods Posts Q1 FY2026 Call Recording for Investors

Aug 18, 2026

Apex Frozen Foods Ltd. operates in the seafood processing industry, focusing on frozen shrimp and related aquatic food products for export and domestic markets. The company is listed on both the Bombay Stock Exchange and the National Stock Exchange u...

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.

Date of analysis: Sep 06, 2026

Apex Frozen Foods Ltd. AI Stock Analysis

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