Avanti Feeds shares jump 10%, hit 52-week high; Thai Union Group sells 4.4% stake for ₹435 crore

As per the block deal data, Thai Union Group on Tuesday divested a 4.4% stake in Avanti Feeds for ₹435 crore through an open market transaction.

Thailand-based Thai Union Group is a producer of seafood-based products.

According to the block deal data available on the National Stock Exchange (NSE), Thai Union Group, through its arm Thai Union Asia Investment Holding, sold 59.77 lakh shares, amounting to a 4.4% stake in Avanti Feeds.

The shares were disposed of at an average price of ₹728 apiece, taking the transaction value to ₹435.15 crore.

After the stake sale, Thai Union Asia Investment Holding's stake has reduced to 4.37% from 8.77%.

Also, the combined holding of Thai Union Group through its affiliates in Avanti Feeds has decreased to 19.81% from 24.21%.

These shares were acquired by IIFL Facilities Services Ltd at the same price.

Avanti Feeds, per news reports, registered an 86.5% jump in net profit to ₹135.2 crore for the quarter ended December 2024, compared to ₹72.5 crore in the same period last year.

The surge in profit was due to higher margins and improved operational efficiencies.

The company’s revenue grew 9% on-year to ₹1,365.8 crore from ₹1,253.2 crore logged in Q3 FY24, driven by stable demand for its shrimp feed and seafood export business.

On the operating front, EBITDA jumped 65.4% to ₹160.4 crore, compared to ₹97 crore in the year-ago period.

Margins saw a sharp expansion, rising to 11.7% from 7.7% last year, reflecting cost efficiencies and improved realisations.

About Avanti Feeds

Avanti Feeds Ltd (Avanti) is a manufacturer and exporter of aqua feeds. The company manufactures and markets feed for prawns, shrimp, and fish. Avanti’s shrimp processing and export product portfolio includes raw shrimp, shrimp rings, fish meals, cooked shrimp, skewers, and marinated products. It markets products under the Profeed, Prostar, Titan, and Manamei brand names.

The company markets shrimp feeds in Andhra Pradesh, Tamil Nadu, Gujarat, West Bengal, Odisha, Maharashtra, Karnataka, and Goa. Avanti has a business presence in Europe, Japan, China, the US, and the Middle East, according to GlobalData Plc.

Avanti Feeds share price trend

Shares of Avanti Feeds have jumped nearly 53% in the past 12 months.