Avanti Feeds plunges 14% post weak Q2 nos

The company's consolidated adjusted net profit attributable to shareholders stood at Rs 464 million for Q2FY19, down by 60.1 per cent YoY.

Shares of Avanti Feeds on Monday slumped as much as 14.11 per cent to Rs 363 apiece on BSE after the company posted a lower-than-expected results for the second quarter of FY19 (July-September). 

The company's consolidated adjusted net profit attributable to shareholders (excluding exceptional items after tax) stood at Rs 464 million for Q2FY19, down by 60.1 per cent YoY. The consolidated operating profit for the quarter declined 61.4 per cent on YoY basis to Rs 721 million.

EBITDA margin declined significantly by nearly 1,229 bps YoY to 9.6 per cent yoy and was down nearly 314 bps qoq in Q2FY19. The company's sales declined 15.41 per cent to Rs 5.53 billion in the quarter ended September 2018 as against Rs 6.54 billion during the previous quarter ended September 2017.

Diluted EPS (earnings per share) for the period stood at Rs 3.41 against Rs 6.29 in the previous quarter and Rs 8.54 recorded in the corresponding quarter of last year. 

The stock has given multibagger returns in the last five years. On November 11, 2013, the share price of the company stood at Rs 15.50, which has skyrocketed 2,626 per cent to Rs 422.65 as of November 9, 2018. In comparison, the S&P BSE Sensex has risen 36 per cent.

At 10:43 am, shares of the company were trading at Rs 378 apiece onm BSE, down over 10 per cent.