Avanti Feeds

AGM Highlights uploaded by Avanti

Some extracts

PERFORMANCE OF FEED DIVISION:
First crop of Shrimp culture in current year is progressing well. There is healthy growth of 10-15%
because of increase in the area of culture, stocking density and continued conversions.

PERFORMANCE OF SHRIMP PROCESSING & EXPORT DIVISION:
The division could not show much improvement in its performance during 2014-15 as the
exports to US in the 2nd half of the year were severely affected due to stringent checking of
each and every container of shrimp exported to that country for presence of antibiotic residues.
Because of this, there were inordinate delays in clearing of the consignments by USFDA with
additional expenditure to the exporters. As a result, exports to USA slowed down. Added to this,
as all of you know, the international prices of shrimps have been coming down almost
continuously.

As an alternative, your Company developed new markets in Middle East, Europe and China
which enabled Company to maintain at the level of previous year’s performance.
Current year, i.e. 2015-16 appears promising as the US Authorities reverted back to random
checking of the containers. Although the performance of this division in June’15 quarter is not
reflecting much of the positive development, in the coming quarter we believe, the exports will
gain momentum. The orders from new markets i.e. Middle East, Europe and China will also add
to the top line of this division and it is expected that this division will show improved performance
in the current year i.e. 2015-16.

OUTLOOK
The future of this industry is attuned to grow at a steady pace of 10-15% and stay for a long time to come. USA continues to be a major export destinationfor Indian shrimps while new markets are being developed in Middle East, Europe and China.

Source http://www.avantifeeds.com/Notices/Chairman%20Address%20to%20Shareholders%20at%2022nd%20AGM.pdf