MarketFriction

Apex Frozen Foods Ltd

NSE APEX · BSE 540692 · Seafood
₹326.30 -3.03%
NSE close2026-10-01
52 week range219.86 - 514.50
Market cap₹1,070 Cr.
P/E21.6
IPO 2017 · +86% since Price band 20% Delivery 36.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales241148162186200231197258238264168257
Expenses222140160175196227191243227251155226
Operating Profit1981114471511131330
OPM %8%6%0.8%6%2.0%1.7%3.3%6%4.8%5%8%12%
Other Income111012139443
Interest322233121110
Depreciation531444444354
Profit before tax114-05-2-031316131129
Tax %27%17%-27%25%-19%5%30%30%24%24%30%24%
Net Profit83-04-2-0291210822
EPS in Rs2.670.95-0.121.22-0.53-0.070.632.913.803.232.496.93
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6046999998758278189261,070804814931927
Expenses563654889785740728840987764788876859
Operating Profit4044110908791868340255668
OPM %7%6%11%10%11%11%9%8%5%3.1%6%7%
Other Income511202119862351720
Interest101197111617159943
Depreciation569111522191915151516
Profit before tax303711394816156512065369
Tax %35%33%30%35%25%27%27%29%25%31%27%
Net Profit19257961614441361543951
EPS in Rs8.0310.4725.3119.4619.4014.1713.1411.484.671.2412.4316.45
Dividend Payout %0%10%8%10%0%14%19%22%43%161%20%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth4%3%-5%5%
Compounded Profit Growth7%-3%3%440%
Stock Price CAGR%3%15%53%
Return on Equity10%5%4%8%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital242424313131313131313131
Reserves325185271324365409437459466463497
Borrowings90791108510816316816791107736
Other Liabilities192457434768494233294659
Total Liabilities165179277431510627657678614633613593
Fixed Assets525583111115280250236242254243239
CWIP081211163152218442
Investments000000000000
Other Assets113116193299279344391420354376367352
Total Assets165179277431510627657678614633613593
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1237143349581336121115496
Cash from Investing Activity-12-16-29-58-114-44-14-10-22-8-6-2
Cash from Financing Activity-0-2117857-144-27-99-2-49-78
Net Cash Flow00360-5813-211-116
Free Cash Flow021-12-24-6020025100-14690
CFO/OP63%118%62%69%91%86%23%55%171%43%194%192%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days312543253935675238495743
Inventory Days394844536711710612088129119105
Days Payable9132114202920128101718
Cash Conversion Cycle6060666486123154160118167159129
Working Capital Days8132439475483907110711096
ROCE %29%27%26%40%24%18%13%12%11%5%2%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters72.62%72.62%72.62%72.62%72.62%72.62%72.62%72.62%72.62%72.62%72.62%72.62%
FIIs0.02%0.03%0.00%1.27%2.43%3.37%3.29%4.18%4.84%4.74%6.00%5.83%
DIIs0.08%0.00%0.05%0.22%0.76%0.37%0.44%0.55%0.55%0.55%0.66%0.61%
Public27.27%27.35%27.32%25.86%24.18%23.64%23.65%22.64%21.97%22.08%20.73%20.93%
No. of Shareholders40,28538,94742,15539,85642,45141,02740,89539,17039,44537,59539,16539,978

Fundamentals

Market Cap₹ 1,070 Cr.
Current Price₹ 343
Stock P/E21.6
Book Value₹ 169
ROCE10.4 %
ROE7.60 %
Dividend Yield0.73 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)5%
Compounded Profit Growth (TTM)440%
Standalone figures.
Valuation
Market capRs 1,020 Cr
Enterprise valueRs 1,007 Cr
P/E (TTM)19.83x
Price to book1.93x
Price to sales1.10x
EV / EBITDA11.51x
EV / EBIT14.07x
EV / sales1.09x
Price to cash flow10.65x
Earnings yield5.04%
Dividend yield0.77%
P/E, 3-year average80.30x
P/B, 3-year average1.57x
P/E, 5-year average55.78x
P/B, 5-year average1.56x
Profitability
Operating margin (excl. other income)5.97%
Operating margin (incl. other income)7.83%
EBITDA margin9.44%
Pre-tax margin7.41%
Net profit margin5.55%
Net margin, latest quarter8.45%
ROE7.60%
ROCE10.45%
ROA6.44%
ROE, 3-year average3.78%
ROCE, 3-year average5.93%
ROA, 3-year average3.14%
ROE, 5-year average5.57%
ROCE, 5-year average8.07%
ROA, 5-year average4.22%
ROIC (approx.)10.18%
Tax rate26.71%
Other income / net worth3.27%
Growth
Sales growth (latest year)14.45%
Profit growth (latest year)901.29%
Sales CAGR, 3 years-4.54%
Sales CAGR, 5 years2.61%
Profit CAGR, 3 years2.70%
Profit CAGR, 5 years-2.59%
Sales growth QoQ52.86%
Profit growth QoQ178.18%
Sales growth YoY (latest quarter)-0.63%
Profit growth YoY (latest quarter)138.13%
Per share
EPS (TTM)Rs 16.45
EPS (latest year)Rs 12.43
EPS (latest quarter)Rs 6.93
EPS, 3-year averageRs 6.12
EPS, 5-year averageRs 8.59
Book value per shareRs 168.96
Sales per shareRs 296.63
Cash flow per shareRs 30.65
Free cash flow per shareRs 28.80
Dividend per share (latest year)Rs 2.50
Dividend per share, 3-year averageRs 2.17
Dividend per share, 5-year averageRs 2.30
Dividends
Dividend payout20.10%
Dividend payout, 3-year average74.66%
Dividend payout, 5-year average52.96%
Efficiency
Asset turnover1.57x
Fixed asset turnover3.90x
Inventory turnover3.75x
Inventory days97 days
Debtor days43 days
Debtors turnover8.58x
Creditor days18 days
Cash conversion cycle129 days
Working capital days96 days
Leverage
Total debtRs 6 Cr
Cash and bankRs 19 Cr
Net debtRs -13 Cr
Debt to equity0.01x
Net debt / EBITDA-0.15x
Interest coverage24.43x
Current ratio (filing 2026-03-31)5.96x
Quick ratio (filing 2026-03-31)2.84x
Trade payables (filing 2026-03-31)Rs 29 Cr
Owners' fund to total sources89.10%
Debt to assets0.96%
Cash flow
Cash from Operating Activity (latest year)Rs 96 Cr
Cash from Investing Activity (latest year)Rs -2 Cr
Cash from Financing Activity (latest year)Rs -78 Cr
Net Cash Flow (latest year)Rs 16 Cr
Free cash flow (latest year)Rs 90 Cr
FCFE (approx.: FCF + change in debt)Rs 23 Cr
Cash from ops / profit, 5 years2.36x
Sales to cash flow9.72x
Statement figures
Net sales (TTM)Rs 927 Cr
Net sales (latest year)Rs 931 Cr
Sales (latest quarter)Rs 257 Cr
Operating profit excl. other income (latest year)Rs 56 Cr
Operating profit (latest quarter)Rs 30 Cr
Other income (TTM)Rs 20 Cr
EBITDA (TTM)Rs 87 Cr
PBDT (TTM)Rs 85 Cr
Profit before tax (TTM)Rs 69 Cr
Tax (latest year)Rs 14 Cr
Net profit (TTM)Rs 51 Cr
Net profit (latest year)Rs 39 Cr
Net profit (latest quarter)Rs 22 Cr
Depreciation (TTM)Rs 16 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 3 Cr
Cost of goods sold (latest year)Rs 625 Cr
Total expenditure (latest year)Rs 876 Cr
Total income (latest year)Rs 948 Cr
Share capitalRs 31 Cr
ReservesRs 497 Cr
Shareholders' fundsRs 528 Cr
Total assetsRs 593 Cr
Net blockRs 239 Cr
Capital work in progressRs 2 Cr
ReceivablesRs 109 Cr
InventoryRs 167 Cr
Other liabilitiesRs 59 Cr
Shares outstanding (crore)3.12
Ownership
Promoter holding72.62% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 19.8 is at the 56th percentile of its own 9.0-year range (median 19.1, low 8.7, high 396.7).
P/B 1.93 is at the 47th percentile (median 1.93).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodAPEXNifty 50Difference
1 week-6.5%-2.8% -3.7 pts
1 month-12.9%-6.8% -6.1 pts
3 months-19.2%-7.6% -11.6 pts
6 months-10.1%+0.4% -10.5 pts
1 year+42.5%-9.9% +52.4 pts
2 years+29.6%-13.6% +43.1 pts
3 years+44.4%+14.2% +30.3 pts
5 years+12.5%+27.9% -15.4 pts

Red flags

F-score 8 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹257 Cr -0.4% vs Jun 2025. Net profit ₹22 Cr +144.4%.
Against our estimate for Jun 2026: sales -0.2%, profit +99.9% beat. Our estimate for Sep 2026: sales Rs 220 Cr, profit Rs 11 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-10Dividend - Rs 2.50 Per Share
2025-09-19Dividend - Rs 2 Per Share
2024-09-20Annual General Meeting/Dividend - Rs 2 Per Share
2023-09-22Annual General Meeting/Dividend - Rs 2.50 Per Share
2022-07-14Annual General Meeting/Dividend - Rs 2.50 Per Share
2021-09-14 Annual General Meeting/Dividend - Rs 2 Per Share
2020-09-22 Annual General Meeting
2020-03-19 Interim Dividend - Rs 2 Per Share
2019-09-11 Annual General Meeting/Dividend - Rs 2 Per Share
2018-09-12 Annual General Meeting/Dividend Rs 2 Per Share
DateTypeWhat it says
2026-09-23UpdatesWe hereby inform that the Company will be participating in a two-day Non-Deal Roadshow at Mumbai on 28th and 29th September 2026 and will be meeting v...
2026-09-18Shareholder meetingVoting results of Annual General Meeting held on September 17, 2026
2026-09-18Shareholder meetingApex Frozen Foods Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 17, 2026
2026-09-17Shareholder meetingProceedings of undefined held on September 17, 2026
2026-08-26UpdatesIntimation of book closure Dates, cut off date and Record Date.
2026-08-26Record DateRecord date for the purpose of Dividend & Meeting is 10-Sep-2026.
2026-08-26Record DateRecord date for the purpose of Dividend is 10-Sep-2026.
2026-08-26Shareholder meetingNotice of Annual General Meeting to be held on September 17, 2026
2026-08-22Concall / analyst meetTranscript of Q1FY27 earnings Conference Call
2026-08-18Concall / analyst meetLink of Recording
2026-08-15Investor PresentationInvestor Presentation
2026-08-13Board meeting outcomeOutcome of Board Meeting held on August 13, 2026.
2026-08-13Board meeting outcomeApex Frozen Foods Limited has submitted to the Exchange, the un-audited financial results for the period ended Jun 30, 2026.
2026-08-12Concall / analyst meetSchedule of meet
2026-06-05Concall / analyst meetTranscript
2026-06-02Concall / analyst meetLink of Recording
2026-06-02Disclosure under SEBI TakeovApex Frozen Foods Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Sub...
2026-06-01Investor PresentationInvestor Presentation
2026-05-30Board meeting outcomeOutcome of Board Meeting held on May 30, 2026.
2026-05-30DividendBoard of Directors at its meeting held on May 30, 2026, recommended Final Dividend of Rs. 2.5 per equity share.
2026-05-30Board meeting outcomeApex Frozen Foods Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-26Concall / analyst meetSchedule of meet
2026-02-23Concall / analyst meetTranscript of Q3FY26 earnings conference call
2026-02-16Concall / analyst meetLink of Recording
2026-02-13Investor PresentationInvestor Presentation
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Apex Frozen Foods Ltd?

Apex Frozen Foods Ltd (APEX) has a market capitalisation of Rs 1,070 Cr. at the 2026-10-01 close.

What is the P/E ratio of Apex Frozen Foods Ltd?

Apex Frozen Foods Ltd trades at a P/E of 21.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were Apex Frozen Foods Ltd's latest quarterly results?

In the Jun 2026 quarter, Apex Frozen Foods Ltd sales was Rs 257 Cr (-0.4% vs Jun 2025) and net profit was Rs 22 Cr.

What is the 52-week high and low of Apex Frozen Foods Ltd?

The 52-week high is Rs 514.50 and the 52-week low is Rs 219.86.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03