Apex Frozen Foods Ltd Share Price

History of Apex Frozen Foods Ltd

Apex Frozen Foods Limited was originally formed as Partnership Firm on October 24, 1995 under the name 'Apex Exports'. The Company was converted from a Partnership Firm into a Private Limited Company with the name 'Apex Frozen Foods Private Limited' on March 30, 2012. Subsequently, the Company was converted into a Public Limited Company with the name 'Apex Frozen Foods Limited' and a fresh Certificate of Incorporation was granted by the Registrar of Companies, Hyderabad on November 29, 2016. The Company is in the business of processing Shrimp from its facilities at Panasapadu, G Ragampeta, and Pre Processing Plant at Tallarevu, in East Godavari District of Andhra Pradesh. The processed shrimp is exported. The company's output majorly comprises of variants of processed Whiteleg shrim ...p (L.Vannamei) and small quantities of Black Tiger shrimp (P. Monodon) in frozen form; and is sold under the brands owned by customers and also through the company's own brands namely Bay Fresh, Bay Harvest and Bay Premium. The Company supplies its ready-to-cook products to a diversified customer base consisting of food companies, retail chains, restaurants, club stores and distributors spread across the developed markets of USA, UK and various European countries. The Company strategically focuses on the market of USA, which is the largest importer of aquaculture products in the world. The Firm leased a shrimp processing facility and commenced operations in year 1995. Later in 2004, the Firm set up its own shrimp processing facility. During the year 2005, Apex Exports commenced exports to US markets. In 2006, Apex Exports commenced exports to European market. In 2013, the company displayed its products in Seafood Expo Global held in Brussels. In 2014, the company commenced work for setting up of additional pre processing facilities at Tallarevu. During the year under review, the company commenced in-house farming operations for shrimp cultivation. In 2016, the company set up a pre-processing unit at Tallarevu for meeting additional demands. The Company was converted into a public limited company with the name 'Apex Frozen Foods Limited' on November 29, 2016. In 2017, the company commenced farming of shrimp in over 1000 acres of land. In August 2017, the Company came up with a Public Issue of 8,700,000 Equity Shares by raising money from public aggregating to Rs 152.25 Crores, comprising a Fresh Issue of 7,250,000 Equity Shares aggregating Rs 126.88 Crores and an Offer for Sale of 725,000 Equity Shares aggregating Rs 25.37 Crores. In 2017, the Company set up a pre-processing unit at Tallarevu to enhance production of Value Added Products (VAP). In 2018-19, the Company added two new Hatcheries in Andhra Pradesh which brings the cumulative breeding capacity to 1.2 to 1.4 billion SPF seeds. In March 2020, commercial operations began at the new Shrimp Processing Plant, taking the total capacity to 29,240 MTPA (owned) at G. Ragampeta in Andhra Pradesh. In 2020-21, the Company launched high value added Ready-to-Eat' products from the new processing plant. In 2023-24, the Company further expanded Ready-to-Eat' capacity by 5,000 MT to 10,000 MT.