Analysts/Institutional Investor Meet/Con. Call Updates

August 28, 2026 To To BSE Limited, National Stock Exchange of India Ltd., 1st Floor, New Trading Ring, Exchange Plaza, Rotunda Building, P.J. Towers, Bandra (East), Dalal Street, Mumbai – 400001 Mumbai – 400051 Maharashtra, India Maharashtra, India BSE Code: 512573 NSE Symbol: AVANTIFEED Dear Sir/Madam, Sub: Transcript of post earnings Audio Conference Call for the quarter ended June 30, 2026. Further to our letter dated August 21, 2026, August 26, 2026 and August 27, 2026, we enclose herewith the transcript of post earnings Audio Conference Call for Investors/Analysts held on August 27, 2026in connection with Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2026 and the same will also be available on the website of the Company at https://avantifeeds.com/corporate-announcement/#Investor-Analyst-Corner This is for your information and record. Thanking you, Yours faithfully, For Avanti Feeds Limited C. Ramachandra Rao Joint Managing Director, Company Secretary and Compliance Officer DIN: 00026010 Avanti Feeds Limited Q1 FY27 Investor Conference Call Event Date/Time : 27/08/2026, 16.00 Hrs Event Duration :35mins 04secs CORPORATE PARTICIPANTS: Mr. A. Nikhilesh Executive Director, Avanti Frozen Foods Private Limited Mr. C. Ramachandra Rao Joint Managing Director and Company Secretary, Avanti Feeds Limited Mr. A. Venkata Sanjeev Executive Director, Avanti Feeds Limited Mr. D. V. S. Satyanarayana Chief Financial Officer, Avanti Frozen Foods Private Limited Mr. K. Srinivas Reddy Chief Financial Officer, Avanti PetCare Private Limited Ms. B. Santhi Latha Chief Financial Officer, Avanti Feeds Limited Q&A PARTICIPANTS: 1 Arjun Khanna :Kotak Mutual Fund 2 Ronak Shah :Equirus Securities Avanti Feeds Limited Q1 FY27 Investor Conference Call 27.08.2026 Moderator The call has started now we are handing over the proceedings to the management of the company. B. Santhi Latha Goodevening, ladies and gentlemen. I'm pleased to extend a warm welcome to all of you for thisInvestor Conference Call of Avanti Feeds Limited to review the unaudited consolidated and standalone financial results for Q1 FY27. Shri.A. Nikhilesh, Executive Director, Avanti Frozen Foods Private Limited, has joined from the processing plant, and along with me, here are Mr. C. Ramachandra Rao, Joint Managing Director and Company Secretary of Avanti Feeds Limited; Shri A. Venkata Sanjeev, Executive Director of Avanti Feeds Limited; Mr. D. V. S. Satyanarayana, CFO of Avanti Frozen Foods Private Limited; and Mr. K. Srinivas Reddy, CFO of Avanti PetCare Private Limited. To begin with, I will present highlights of financial results for the quarter ended30thJune, 2026of Shrimp Feed Division, and also consolidated financials of the company for the same period. Thereafter D. V. S. Satyanarayanawill present the financial highlights ofShrimpProcessing andExportDivision. After that,Mr. K. Srinivas Reddywill present the status ofPetCare project. After the presentation by all of us,Mr. C. Ramachandra Rao, Joint Managing Director and Company Secretary, Avanti Feeds Limited, will give current situation and highlights of the industry.Post that, we will take aquestion-and-answersession. The comparative performance of Q1 FY27with that of Q4 FY26and Q1 FY26have already been given in the presentation circulated.So, first, we'll go through the consolidated financial results for Q1 FY27.The consolidated gross income in Q1 FY27isINR1,966 crores as compared to INR 1,516 crores in the previous quarter of Q4 FY26, an increase of INR 450 crores by about 30%. Compared to Q1 FY26gross income of INR1,657 crores, there is an increase of INR 309 crores by about 19%. The PBT is INR157 crores in Q1 FY27as compared to INR184 crores in Q4 FY26, a decrease of INR 27 crores by 15%.And compared to Q1 FY26PBT of INR249 crores, there is a decrease of INR92 crores by about 37%. The consolidated results indicate net impact of several factors such as increase or decrease in income, expenditure and exceptional items relating to both Feed and Frozen divisions, which have been discussed in the individual performance of these units. Standalonefinancial results of Feed division. Feed division Q1 FY27results. The gross income for Q1 FY27 is INR1,615 crores as compared to INR1,069 crores in the previous quarter of Q4 FY26, an increase of INR 546 crores, representing 51%, mainly due to increase in quantity of feed sold by 70,126MT. The gross income in Q1 FY27 increases to INR 1,615 crores from INR 1,279 crores in the corresponding quarter of Q1 FY26, an increase of INR336 crores, representing 27% due to increase in sales quantity by 28,287MT. Avanti Feeds Limited Q1 FY27 Investor Conference Call 27.08.2026 The PBT for Q1 FY27 is INR 114 crores as compared to INR 139 crores in Q4 FY26, a decrease of INR 25 crores by about 18%, mainly due to increase in raw material prices. The feed sales increased to 1,93,852 MTsinQ1 FY27as compared to 1,23,725MTsin Q4 FY26. The PBT inQ1 FY27has declined by INR110 crores from INR224 crores in Q1 FY26to INR114 crores in Q1 FY27,representing 45%. The feed sales increased to 1,93,852 inQ1 as compared to 1,65,564MTs in Q1 FY26. The major raw materials are fish meal, soya bean meal and wheatflour.The noticeable development in this quarter is increasing trend of two major raw materials, that is fish meal and soya bean meal, resulting in decrease in the profitability when compared with previous quarters. The prices of these raw materials keep fluctuating since their production is based on agriculture and fish catches from the ocean. The average consumption price of fish meal increased in Q1 toINR153 per kg fromINR123 per kg in Q4 FY26and increased from INR 93 per kg in Q1 FY26. Inpriceof soya bean meal, their prices increased to INR58 per kg in Q1 FY27fromINR49 in Q4 FY26and increased from 40 in Q1 FY26. However, the wheat flour price decreased to INR28 per kg in Q1 FY27fromINR31 per kg in Q4 and Q1 FY26.The present purchase price of fish meal isINR225 perkg;soya bean meal isINR71 per kg and wheat flour isINR33 per kg. While on one hand, the raw material prices are instrumental in determining the margin, on the other hand, the status of aquaculture activity conditions such as climatic changes, diseases, etc., determine the consumption of feed in terms of volume, which will have an impact on the overall performance of the company. The PBT during the quarter stood at 7.06% on revenue as compared to about 13% during Q4 FY26 and 17%during Q1 FY26.The combination of higher input costs, supply side constraints and fears of further price escalation is putting considerable pressure on shrimp feed manufacturer and on the overall aquaculture industry. However, due to favorable monsoon across India, El Nino effects are expected to ease and raw material prices of shrimp feed are expected to stabilize in coming months upon arrival of fresh crops. To sum up, in general, FY26/27 is expected to be a challenging season for the aquaculture industry in respect of shrimp production due to steep increase in feed raw material prices as well as exports from India and global demand for shrimp exports. The shrimp production and feed consumption in FY26 and company plans for FY27. On the basis of estimated shrimp production of about 8-9 lakh MTs in calendar year 2026, the feed consumption is estimated to be about 11-12 lakh MTs. The company feed sales during FY26 is 5,62,060 MT against 5,54,247 MT in FY26. It is estimated that thefeedsales during FY27 would be around 5,85,000MTs. Shrimp Processing and Export Division. The export of frozen shrimp during FY25/26 was to the tune of 7,92,647 MT worth USD 5,624.48 million. USA was the largest importer with 33% of frozen shrimp, followed by China 21%, European Union 17%, Southeast Asia 11%, Japan 5%, Middle East 3% and all other countries put together 10%. Avanti Feeds Limited Q1 FY27 Investor Conference Call 27.08.2026 On aYoYbasis, export volume to [Showing first 8,000 characters — download PDF for full document]