**Financial Highlights:** In Q3 FY25, Avanti Feeds reported a revenue increase of 9% YoY, reaching ₹3,999 crore, driven largely by a 14% growth in shrimp feed volume.

Consolidated PAT surged 69% YoY to ₹1,408 crore, with PAT margins improving by 366 bps to 14.6%. EBITDA also saw significant growth, with a margin expansion to 16.5% due to higher utilization levels. **Strategic Initiatives and Growth Drivers:** The government allocated ₹2,704 crore to the fisheries sector for FY26, representing a 3% increase from the previous year.

This funding, part of the Pradhan Mantri Matsya Sampada Yojana, is intended to enhance fisheries sustainability and production capabilities. **Business Developments:** Shrimp feed production rose significantly, with sales volumes increasing to 132,049 MT, marking a 14% YoY growth.

Meanwhile, processed shrimp revenue remained stable despite a slight decline in volume due to increased price realization and favorable forex rates. **Market Position and Competitive Advantage:** Avanti Feeds continues to gain market share in processed shrimp exports, particularly in Europe and Asia.

This trend is bolstered by a strong demand for shrimp and improved average selling prices. **Investor Implications:** The positive trajectory in revenue and profit margins, alongside government support for the fisheries sector, suggests a favorable outlook for Avanti Feeds.

Investors should monitor the company's performance in the context of the strong demand dynamics in the aquaculture industry.