"Avanti Feeds net sales has increased by 59.79 percent from Rs. 3049.28 million for the quarter ended September 30, 2012 to Rs. 1908.33 million for the quarter ended September 30, 2013. Net profit was up by 66.95 percent at Rs. 185.77 million in Q2 FY14 against Rs. 111.27 million in Q2 FY13. The company has reported a strong profitable growth in quarter ended 30th SEPTEMBER 2013. During the quarter ended Q2 FY14, EBITDA has increased by 80.50 percent at Rs. 305.95 million from Rs. 169.50 million in the corresponding quarter of previous year. In the quarter the company's exports sales has increased by 69.70 percent from Rs. 502.73 millions in Q2 FY13 to Rs. 853.15 millions in Q2 FY14. Similarly Domestic sales jump up to 54.83 percent at Rs. 2126.27 millions in Q2 FY14 against Rs. 1373.29 millions in the corresponding quarter of pervious year."
"The over all good performance of the company has been possible due to healthy increase in overall sales as well as profitability on account, driven by improved profitability of both segment of shrimp feed and shrimp Processing. The Company plans to continue with the momentum which has been achieved in this previous quarter, despite threats and challenges. The state of art technology coupled with quality consciousness, excellent storage facilities, logistics capabilities, timely deliveries and commitment to customer satisfaction has made Avanti to be proud of a long list of loyal customers from USA, Europe, Japan, Australia and Middle East. We expect that the company surplus scenario is likely to continue for the next three years, will keep its growth story in up coming quarters and also expect the company to post a CAGR of 53 percent and 35 percent in its topline and bottom-line respectively. Hence, we recommend 'BUY' on the stock with a target price of Rs 288," says Firstcall Research Report.
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