Avanti Feeds ltd. — Interim / Quarterly Report 2022

Nov 12, 2021

Aiding Sustainability & Reliability to Aquaculture

12-11-2021

Ref: AFL/BSE & NSE/02/2021-22/

The Deputy General Manager BSE Limited 1st Floor, New Trading Ring Rotunda Building, P.J. Towers Dalal Street, Mumbai - 400 001 The Listing Manager National Stock Exchange India Ltd. Exchange Plaza Sandra (East) Mumbai - 400 051.

NSE Code: AVANTIFEED

Dear Sir,

BSE Code: 512573

Sub: AVANTI FEEDS LIMITED - Information to the Stock Exchanges on the decisions of the Board Meeting held on 12.11.2021 - Reg.

* * *

In pursuance of the SEBI (Listing Obligations & Disclosure Requirement) Regulations 2015, we are to inform that the Board of Directors of our Company at its meeting held on 12.11.2021 has inter-allia approved the following:

1. unaudited financial results (Standalone and Consolidated) for the quarter and half year ended 30.09.2021, pursuant to Regulation 33 (3) of SEBI (LODR) Regulations,

2. The statement of financial results along with segment report, statement of Assets & Liabilities, cash flow statements and limited review reports are enclosed as

Annexure-1 . 2. Expansion by setting up a new plant for manufacture of Shrimp Feed at Bandapuram, Andhra Pradesh with capacity of 1,75,000 MT per annum, at an estimated CAP EX of� 125 Crores. Expected to be completed and commissioned by

June '22. The Board meeting held on 12.11.2021 commenced at 11 :30 AM and concluded at 01 :30

P.M. Thanking you,

Yours faithfully, for Avanti Feeds Limited

--(6,0��

C. R�achandra Rao Joint Managing Director, Company Secretary & CFO Encl: as above

Corporate Office: G-2, Concorde Apartments, 6-3-658, Somajiguda, Hyderabad-500082, Telangana State, India. .+91 (40) 23310260/61 !!, +91 (40) 23311604 OIO www.avantifeecls.com avantiho0avantifeeds.com

Registered Office: Flat No.103, Ground Floor, R Square, Pandurangapuram, Visakhapatnam - 530003, Andhra Pradesh, India. CIN: L16001AP1993PLC095778

TOKARA.M s CO LLP CHARTEREDACCOUNTANTi

Phones : 2322 1536 : 2322 8785 : 2322 8086

Ref No.LR/AFL04/2021-22

Independent Auditor's Review Report on the Consolidated Unaudited Quarterly Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To

The Board of Directors of AVANTI FEEDS LIMITED

• 1. We have reviewed the accompanying Statement of Consolidated unaudited financial results of AVANTI FEEDS LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended September 30, 2021 and year to date from April 01, 2021 to September 30, 2021 (the "Statement") attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ('the Regulation'), read with SEBI Circular
• No. CIR/CFD/CMDl/80/2019 dated July 19, 2019 ('the Circular'). 2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ("Ind AS 34") "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India read with the Circular. Our responsibility is to express a conclusion on the Statement based on our
• review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued. by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit
• opinion. 4. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,

as amended, to the extent applicable. The Statement includes the Results of the following Entities:

NaofheCtmeompany	Cotruny	Relatihionsp
Anti FFoodPrivatlimitedvarozense	India	Subsidiary
Anti FFoodINCvarozens,	USA	SubsidiaSt-dryepown
SrivathsPoPjectPrivatLiitedaweremros	India	Aiatessoc
	India	Aiatessoc

12/11/2021

• S. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of other auditor referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 of the Listing Regulations, read with the Circular, including the manner in which it is to be disclosed, or that it contains any materia I misstatement.
• 1. We did not review the interim financial information/financial results of the subsidiary included in the consolidated unaudited financial results, whose interim financial information/financial results reflect total assets of Rs.65,996.89 Lakhs, total revenue of Rs.44,830.29 Lakhs and of Rs. 27,342.88 Lakhs, total net profit after tax of Rs.3154.64 Lakhs and of Rs.1531.87 Lakhs, and total comprehensive income of Rs.3148.74 Lakhs and of Rs.1528.92 Lakhs for the Period ended six months and Quarter ended September 30, 2021 respectively, and Net cash flows of Rs.(1067.53) Lakhs for the period ended six months September 30, 2021 as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also include the Group's share of net profit/(loss) after tax of Rs. (446.53) Lakhs and Rs.(170.73) Lakhs for the Period ended six months and Quarter ended September 30, 2021 respectively, as considered in the consolidated unaudited financial results, in respect of two associates, whose interim financial information/ financial results have not been reviewed by us. These interim financial information/financial results have been reviewed by other auditors, whose reports have been furnished to us by the Management and our conclusion on the statement, in so far as it relates to the amount and disclosures included in respect of these subsidiary and associates is based solely on the reports of the other auditors and procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matter.
• 1. The Statement also includes the financial information of Step-down Subsidiary which has not been Audited by any other auditor, whose financial information reflect total revenues of Rs.45.58 lakhs, total net loss of Rs.30.94 lakhs for the period ended September 30, 2021. This unaudited financial information has been approved and furnished to us by the Management and our conclusion on the statement, in so for as it relates to the affairs of the subsidiary, is based solely on such unaudited financial results and other unaudited financial information. According to the information and explanations given to us by the Management, these financial results are not material to the Group.

For TUKARAM & CO LLP, Chartered Accountants (Firm Registration No.004436S)

(RAJENDER REDDY.K) PARTNER M.No.231834 UDIN: 21231834AAAADL6606

Place: Hyderabad Date: 12/11/2021

12/11/2021

I Aiding Sustainability & Reliability to Aquaculture

Statement or consolidated unaudited financial results for the quarter and half year ended Sept JO, 2021

(Rs. In lakhs, unless otherwise stated)
SI.			Quarter Ended		Half Year ended		Year Ended
No.	Particulars	Sept 30, 2021	June 30, 2021	Sept 30, 2020	Sept 30, 2021	Sept 30, 2020	March 31, 2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
$\mathbf{1}$	Income
	(a) Revenue from operations	1,22,599.52	1,40,880.52	1,13,162.17	2,63,480.04	2,08,702.18	4,10,056.19
	(b) Other income	2,558.01	2,126.39	1,873.74	4,684.40	4,609.61	9,257.79
	Total income	1,25,157.53	1,43,006.91	1,15,035.91	2,68,164.44	2,13,311.79	4,19,313.98
$\overline{2}$	Expenses
	(a) Cost of materials consumed	1,08,561.33	1,23,817.28	82,780.21	2,32,378.61	1,60,951.44	3,26,294.08
	(a) purchase of Biological Assets		36.64		36.64		108.26
	(b) Changes in inventories of finished goods & work-	(1,885.82)	(4,716.78)	3,739.61	(6,602.60)		(5,904.41)
	in-progress					(1,007.31)
	(c) Employee benefits expense	2,778.71	3,510.03	3,576.71	6,288.74	6,637.24	12,624.23
	(d) Finance cost	76.72	33.17	20.23	109.89	46.16	168,40
	(e) Depreciation & amortisation expense	1,040.73	1,036.06	955.48	2,076.79	1,898.52	4,092.69
	(f) Other expenses	8,877.52	8,752.34	7,728.11	17,629.86	13,873.91	30,920.24
	Total expenses	1,19,449.19	1,32,468.74	98,800.35	2,51,917.93	1,82,399.96	3,68,303.49
	Profit before share of Associates and Exceptinal
	Items	5,708.34	10,538.17	16,235.56	16,246.51	30,911.83	51,010.49
	Share of Profit/(Loss) of Associates	(170.73)	(275.80)	(13.65)	(446.53)		(43.98)
3	Profit before Exeptional item & Tax	5,537.61	10,262.37	16,221.91	15,799.98	30,911.83	50,966.51
	Exeptional item	(1,715.00)	(410.00)		(2, 125.00)	11.22
4	Profit before tax	3,822.61	9,852.37	16,221.91	13,674.98	30,923.05	50,966.51
5	Tax expense
	1. Current tax	993.84	2,356.83	3,726.28	3,350.67	7,245.49	11,944.96
	2. Deferred tax	(477.96)	(149.86)	(6.15)	(627.82)	(423.46)	(715.56)
	Total tax expenses	515.88	2,206.97	3,720.13	2,722.85	6,822.03	11,229.40
6	Net profit for the period	3,306.73	7,645.40	12,501.78	10,952.13	24,101.02	39,737.11
$\overline{7}$	Other comprehensive income (net of tax)	(173.75)	(10.76)	18.68	(184.51)	(9.08)	(41.50)
$\boldsymbol{8}$	Total comprehensive income for the period	3,132.98	7,634.64	12,520.46	10,767.62	24,091.94	39,695.61
9	Net Profit attributable to:
	- Owners	2,411.87	7,290.79	11,128.87	9,702.65	21,539.35	36,007.18
	- Non-controlling interests	894.86	354.62	1,372.90	1,249.48	2,561.67	3,729.93
	Other comprehensive income attributable to:
	- Owners	(172.57)	(9.58)	20.50	(182.15)	(5.45)	(37.39)
	- Non-controlling interests	(1.18)	(1.18)	(1.82)	(2.36)	(3.63)	(4.11)
	Total comprehensive income attributable to:
	- Owners	2,239.30	7,281.20	11,149.38	9,520.50	21,533.90	35,969.78
	- Non-controlling interests	893.68	353.44	1,371.08	1,247.12	2,558.04	3,725.82
	10 Paid up equity share capital (face value of Re. 1/- per
	share)	1,362.46	1,362.46	1,362.46	1,362.46	1,362.46	1,362.46
	11 Earnings per share (face value of Re. 1/- per share)
	(a) Basic (in Rs.)	1.77	5.35	8.17	7.12	15.81	26.43
	(b) Diluted (in Rs.)	1.77	5.35	8.17	7.12	15.81	26.43
	Other equity (excluding revaluation reserves)						1,74,759.26
	See accompanying note to the financial results.
	Notes:

The above unaudited financial results have been prepared in accordance with Indian Accounting Standards as prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards) Amendment Rules, 2016. ·

2 The above unaudited financial results were reviewed by the Audit Committee at its meeting held on November 12, 2021 and approved by the Board of Directors at its meeting held on November 12, 2021. The statutory auditors of the company has carried out a Limited Review of the above results.

3 The Company has taken into account the possible impact of COVID-19 in preparation of the unaudited financial results including its assessment of recoverable value of its assets based on internal and external information for the quarter ended 30th Sept 2021. Based on the assessment done by the management of the Company, there is not much impact of COVID-19 on the results for the quarter ended Sept 30, 2021, however the company has faced challanges relating to manpower, transportation etc. The Company will be closely monitoring any material changes to future economic conditions.

4 Avanti Frozen foods Private Limited (subsidiary company) has voluntarily recalled the identified products based on USFDA advice on June 25, 2021 and Aug 18, 2021. The exeptional item represents the provision for product recall made by the AFFPL during the quarter ended Sept 30, 2021. ·

5 Corresponding previous period figures have been regrouped/reclassified wherever necessary.

Place : Hyderabad Date : 12/11/2021

Corporate Office: G-2, Concorde Apartments, 6-3-658, Somajiguda, Hyderabad-500082, Telangana State, India. . +91 (40123310260 /61 � +91 [40] 23311604 @) www.avantifeeds.com

avantihoraavantifeeds.com

Registered Office: Flat No.103, Ground Floor, R Square, Pandurangapuram, Visal<hapatnam - 530003, Andhra Pradesh, India. CIN: L16001AP1993PLC095778

UNUDITED CONSOLIDATED STATEMENT OF ASSETS & LIABILITIES AS AT SEPTEMEBR30, 2021

(R	lakhlesIns.s,uns o	lhvlsd)tateenc s
Paicularrt	AsSt 30,atep	AschMatar
s	2021	312021
ASSETS
Not Atsn-currensse
planduipPrntntert, aeqmeopy,	26,928.76	28,178.72
Capitalrk-inwo-progress	1,561.75	604.09
Intgibletsassean	353.46	412.13
f uRighAtt osesse	612.30	652.06
Invedfosinheuithodestntntg ttymes accour ueqme	2,697.37	3,143.90
Fincial atsansse
Investntsme	10,650.81	8,709.79
Loans	53.65	86.59
Other finaialtsncasse	940.42	878.75
ferredt (t)Dex Atassene	889.21	261.40
(net)Nonttaxtsn-curreasse	2,788.74	2,348.52
heOtntetsr non-curreass	368.61	193.36
talToNCut Aetson•rrenss	47,845.08	45,469.31
Cut Atsrrensse
Inviestoren·	56,452.56	55,323.42
Biologicalhehan blanetsotr ttsassearer p	63.92	189.32
Fincial atsansse
Investntsme	1,20,256.44	1,11,634.60
Tradeivablese rec	11,463.25	6,661.15
Cashd cashuivalentaneqs	3,678.99	4,705.58
Other Bk balaannces	1,555.26	1,376.42
Loans	85.69	118.51
Other finaialtsncasse	85.32	122.50
Othet atsr currensse	3,694.67	2,621.82
talToCAntetsurress	1,97,336.10	1,82,753.33
Tolal Atssse	2,45,181.18	2,28,222.63
ANDLIABILITIESEQUITY
uitEqy
uithaitalEqy srecap	1,362.46	1,362.46
Otheityr equ	1,75,589.88	1,74,759.26
uitrlbableloEqattutownersy	1,76,952.34	1,76,121.72
nlllinIntNoestn-coroger	24,080.54	22,833.96
Tolaluilyeq	2,01,032.88	1,98,955.68
Liabilities
t liabililleNoncurrens
l liabilitiesfinciaan
wiBorros	-	-
ngLee Liabilitas	242.09	293.15
yOther finaialliabilitiesnc	372.00	372.00
isiProvons	92.44
Deferredliabilitita		-
(net)xesOtheliabilitintr non-currees	-51.38	-66.67
l NiabilitieTot L	1,1	1,2
taon-currens	1,8.9157	1,931.82
Cut liabililierrens
Fincial liabilitiesan
wiBorrongs	-	-
adTre Pableay
i)talding df MicrdallTorisisetstntterouanues oo eerpesansmenprs	2,846.22	1,592.63
talg df cditthehaicrd sll eii)Todinn Mrisriststr tntentues oreors oo eanmaouanrpeserpes	34,963.84	22,337.67
LeLiabilitasey	151.90	82.28
her finaialliabilitiesOtnc	208.26	227.19
Othet liabilitiesr curren	1,820.53	2,867.64
Prisiovons	2,299.64	227.72
liabililicTol Cnttaurres	42,290.39	27,335.13
l EitydLiabilitiesTetaquan	2,45,181.18	2,28,222.63

Pince : Hyderabad Date : 12/11/2021

A VANTI FEEDS LIMITED

UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED SEPTEMBER 30, 2021

(Rlakhsnleothised)Instates., usserw
	Foheriodr tpeded30Septen,2021	Foherioddedr tpeen30, 2020Sept
A.CASHFLOWFROMOPERATINGACTIVITIES	13,674.98	30,923.06
ofit befoPrtarex
Adjuforstmtsen:
eciatid artitioDepronanmosan expense	2,076.79	1,898.52
Finstsanceco	109.89	46.16
ss/leofd eLo(Profit)plaipmertnttonsaanpropy,quen	0.70	(0.66
incIntstereome	(4)50.67	(403)3.6
Dividd ienncome	-	-
ch/ loExinsangessesga	(852.55)	(649.11}
Gain/lossfsalffiialedfair valuhrghndloofisetate tt arome onancass measurousspr	(l,513.77)	(3,335.63)
ir valuatioffincial aredfair valuhrghofindloFatsate tt aonanssemeasuouprss	(1,5)459.3	248.13
ir valuatif deritivFaonovaes	(81.79)	(16.59
Shofofit/(loss)froAsciatesareprmso	446.53	(11.22
Amisatiof gortntntn oovernmegra	(115.28)	(97.97)
isifobefitPrloyovonr enesmpee	2,207.57	860.28
t befoOpatiofikinital chareerngprworg capnges	14,043.05	29,461.33
Adjufor(in) Idee iingstmtsratts:encreasecreasn opeasse
Tradeivablese rec	(4,802.10)	(1,246.29)
Loans	65.76	58.78
her finaialOtsetncass	(48.00)	(133.79)
iesInvtoren	(1,4)003.7	15,082.09
Othetsr asse	{1,248.10)	379.05
forinI (de) ing liabilitiesAdjutinstmtscreasecrease:enopera
adTrablese pay	13,879.76	7,604.90
Prisiovons	(222)7.7	(390)4.5
Other finaialliabilitiencs	62.86	(1,086.97)
her liabilitiesOt	(1,047.12)	(36.53
Cashtedfratigeneraomoperons	19,674.65	49,688.07
Net inaidtacomex p	(39),790.8	(5,7)946.7
Nehfroatitiviti(A)t casnowmoperngaces	15,883.76	43,741.30
B.CASHFLOWFROMINVESTINGACTIVITIES
Capitalnditufid aincludinital advts,onxesseancesexpereg cap	(1,757.34)	1�(l,4)0.2
dsfrleofPlad EipmPrPrertnttoceeomsaopy,anquen	70.59	333.53
Chs iinvestntsangenme	(79),591.0	(572),134.2
Other bk balaannces	(196.00)	14,835.72
ivedIntesterrece	474.18	430.66
Dividd ieivedenncome rec	-	-
Neh{usedin) Ifroinvingtiviti(B)t cestasnowmaces	(8,999.66)	(425),724.5
C.CASHFLOWFROMFINANCINGACTIVITIES
Finstsanceco	(109.89)	(45.33
f bingRet opaymenorrows	-	721.98
s inLiabilitiesChLeaseange	18.56	25.42
Dividdsidenpa	(8,671.91)	(180.93)
Profihae fluctio&foardt otuantrtsn ensrwcoacxcng	852.55	649.09
htivitieNe(usedin) finaingt cs (C)asnowncac	(7,910.69)	1,170.23
t {de) inChdshuilen(A)Ne+B+Ctscreaseasancaeqva	(1,9)026.5	2,186.98
Cashd ch eivalenthe binninf thetsatanasquegg oyear	4,705.58	1,590.31
Cashd ch eivalenthndf the{RefNo{i)below)tsatteanasque eoyearer	3,678.99	3,777.29
ashd cashofNo: Cuivaleriste(i)ntsan:eqcompes
lanithksBaBces wan	3,660.34	3,746.27
Cashinhand	18.65	31.02
	3,678.99	3,777.29
Thboofshlows hbendthIndireethodt ind AStCaFd ue "M" sInS -atentctete avemeasenepareeroupr	f CashFl7,'Statt oemenow	deions' scifiedectpeunr s

· 133 ofthe Companies Act, 2013

Purchase of property, plant and equipment includes movements of capital work-in-progress during the year. Figures in brackets indicate cash outflows

Place : Hyderabad Date : 12/1112021

Consolidated unaudited Segment information for the quarter and half year ended Sept 30, 2021 as per regulation 33 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.

		(RInlakhlesths.suns o
			ndedDuEterar		lfvHaea	ndedr e	YeEndedar
SINo	rtilarPacus	Sepl30,2021	Ju30, 2021ne	Se30, 2020pt	Se30, 2021pt	Sepl30, 2020	chM31,2021ar
		didUnteau	ditedUnau	Unditedau	Unditedau	Unditedau	Audited
I	Set Rgmenevenue
	a)ShrimFeedp	95,993.78	1,23,608.62	89,637.76	2,19,602.40	1,67,372.78	3,23,097.04
	b)d ShrimProcessep	26,551.04	17,000.58	23,577.48	43,551.62	41,506.06	86,301.75
	c)Power	76.94	49.88	62.02	126.82	106.12	151.96
	d)ShrimtchHapery	5.08	405.47	-	410.55	-	-
	e)alldUnateoc	-	-	-			1,001.80
	Grales/inatioss soperngcome	1,22,626.84	1,41,064.55	1,13,277.26	2,63,691.39	2,08,984.96	4,10,552.55
	Intnterrevenuesegme	(27.32)	(184.03)	(115.09)	(211.35)	(282.78'	(496.36)
	frNet Rtioevenueomoperans	1,22,599.52	1,40,880.52	1,13,162.17	2,63,480.04	2,08,702.18	4,10,056.19
2	Set Rltsesugmen
	eda)ShrimFep	176,90	7,678.18	10,531.32	7,805.08	20,029.55	33,663.97
	b)PdShrimrocessep	3,295.75	696.03	3,824.59	3,991.78	6,279.07	7,784.55
	c)Power	45.34	13.19	26.14	58.53	39.76	17.04
	d)hrimtchSHapery	(240.94)	57.55	-	(189)3.3	-	-
	e)Unalldateoc	-	-	-		-	4545.5
	lTota	3,227.05	8,444.95	14,382.05	11,672.00	26,348.38	41,921.10
	Le: Interestss	76.72	33.17	20.23	109.89	46.16	168.40
	AddUn-AllotedIncofUAllocabletcaomenen-
	ndituExpere	2,558.01	2,126.39	1,873.74	4,684.40	4,609.61	9,257,79
	Add/(Ls): Shaofolit/(ss)f EityAedPrLontesreoquccou
	Investees	105.07	(275.80)	(13.65'	(170.73)	11.22	(43.98)
	Tol PfitBefe Ttaroorax	5,813.41	10,262.37	16,221.91	16,075.78	30,923.05	50,966.51
3	t ASetsgmensse
	a)ShrimFeedp	66,074.97	57,608.53	61,384.48	66,074.97	61,384.48	57,507.99
	d Sb)Phrimrocessep	55,400.26	51,547.38	39,641.59	55,400.26	39,641.59	46,029.13
	c)Power	3,179.83	3,337.93	3,682.06	3,179.83	3,682.06	3,613.41
	d)ShrimHatchpery	3,210.14	3,195.56	1,14,329.00	3,210.14	1,14,329.00	-
	-allocde)Unate	1,1315.987,	1,26,056.51	-	1,17,315.98	-	1,21,072.11
	Total	2,45,181.18	2,41,745.91	2,19,037.13	2,4181.185,	2,19,03137.	2,28,222.64
	iabilitiet LSesgmen
	a)ShrimFeedp	35,720.37	25,509.69	26,461.85	35,720.37	26,461.85	21,047.62
	d Sb)Phrimrocessep	6,339.00	4,972.09	4,903.35	6,339.00	4,903.35	4,349.88
	c)Power	0.32	0.32	0.23	0.32	0.23	0.57
	d)ShrimHatchpery	58.26	64.23	-	58.26	-	-
	e)Un-allotedca	2,030.35	4,610.74	4,318.88	2,030.35	4,318.88	3,868.88
	Total	44,148.30	35,157.07	35,684.31	44,148.30	35,684.31	29,266.95

Place : Hyderabad Date : 12/11/2021

TOKARAM s CO LLP CHARTERED ACCOUNTANTS-

Ref No. LR/AFL03/2021-22

Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To

The Board of Directors of AVANT! FEEDS LIMITED

We have reviewed the accompanying statement of unaudited standalone financial results of AVANT! FEEDS LIMITED ("Company"), having registered office at Flat No.103, Ground Floor, R Square, Pandurangapuram, Visakhapatnam - 530003, Andhra Pradesh, for the quarter ended September 30, 2021 and year to date from April 01, 2021 to September 30, 2021 ("the statement''), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 (the Regulation') as amended, read with SEBI Circular No. CIR/CFD/CMDl/80/2019 dated July 19, 2019 ('the Circular'). This statement, which is the responsibility of the Company's management and approved by the

Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ("Ind AS 34''), prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India, Our responsibility is to express a conclusion on the statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit, accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ("Ind AS") specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For TUKARAM & CO LLP Chartered Accountants (Firm Registration No.004436S)

� ·

(RAJENDER REDDY K) PARTNER M.No.231834 UDIN: 21231834AAAADK5658

Place: Hyderabad Date : 12/11/2021

3-6-69, Flat No. 209, Venkatarama Towers, Opp. Talwalkars, Basheerbagh, Hyderabad - 500 029. E-mail : tukaramco@gmail.com

Aiding Sustainability & Reliability to Aquaculture

Statement of Standalone unaudited Financial Results for quarter and half year ended Sept 30, 2021

(Rinlakhleths.s,unssoer							wied)statse
			QuEndedtearr		Half yea	dedenr	dedYearen
SINo	iculaPartrs	Se30,2021pt	30,2021June	Se30,2020pt	Se30,2021pt	Se30,2020pt	chM31,ar2021
		didUnteau	didUnteau	didUnteau	didUnteau	didUnteau	didAute
1	Income
	fra)Ratievenueomoperons	96,075.78	1,24,063.98	89,699.77	2,20,139.76	1,67,478.90	3,24,250.80
	. b) Othinercome	2,116.14	1,617.44	1,781.16	3,733.58	3,545.23	3(i.86,45
	Tol iietancon·	98,191.92	1,25,681.42	91,480.93	2,23,873.34	1,71,024.13	3,30,687.65
2	Expenses
	ofialeda)Costatmers consum	90,510.92	1,07,063.00	69,612.11	1,97,573.92	1,32,848.45	2,61,521.49
	che bb)Pr biologil aeturasearessscas iinief finishedc)Chntnveors oange	-	36.64	-	36.64	-	108.26
	s &odkingoworprogress	(6)00.18	1,675.22	2,096.87	1,075.04	l,3I0.77	511.58
	d)plbefitsEenmoyeeexpense	2,062.68	2,845.66	3,003.93	4,908.34	5,498.16	10,359.19
	e)Fitsnance cos	59.25	27.21	17.16	86.46	26.33	49.13
	&tisionf)iatioDeatamorexpenseprecn	546.76	548.94	519.30	1,095.70	1,041.83	2,132.60
	g)thOerexpenses	3,645.05	4,166.77	3,926.08	7,811.82	6,746.49	15,586.10
	l eTotaxpenses	96,224.48	1,16,363.44	79,175.45	2,12,587.92	1,47,472.03	2,90,268.35
3	ofitbefoPrtarex	1,967.44	9,317.98	12,305.48	11,285.42	23,552.10	40,419.30
4	Taxexpenses
	I.Cut trrenax	316.92	2,145.99	3,021.24	2,462.91	5,943.73	10,052.01
	d2.Defertaxre	92.97	147.15	90.53	240.12	(177.93)	(169.80)
	l tTotaaxexpense	409.89	2,293.14	3,111.77	2,703.03	5,765.80	9,882.21
5	fothNfitriodetreprope	1,557.55	7,024.84	9,193.71	8,582.39	17,786.30	30,537.09
6	Otheehsive ie (f t)t or comprenncomneax	(170.80)	(7.81)	23.21	(178.61)	(0.01)	(31.24)
7	Tol cehsivintaomprenecome	1,386.75	7,017.03	9,216.92	8,403.78	17,786.29	30,505.85
8	idityshl (faaluofPaitaequare cceveupap
	Re.I/she)ar- oer	1,362.46	1,362.46	1,362.46	1,362.46	1,362.46	1,362.46
9	ha)per sre
	BasicI)(iRs.)n	1.14	5.16	6.75	6.30	13.05	22.41
	2)Dilud(inRs.)te	1.14	5.16	6.75	6.30	13.05	22.41
	Otheluionity(eludiatr erevareservesquxcng	)					1,48,963.79
	Sethfincialintetoe anoeanresuccompanyg	lts

Notes:

The above unaudited financial results have been prepared in accordance with Indian Accounting Standards as prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards) Amendment Rules, 2016.

2 The above unaudited financial results were reviewed by the Audit Committee at its meeting held on November 12, 2021 and approved by the Board of Directors at its meeting held on November 12, 2021. The statutory auditors of the company has carried out a Limited Review of the above results.

3 The Company has taken into account the possible impact of COVID-19 in preparation of the unaudited financial results including its assessment of recoverable value of its assets based on internal and external information for the quarter ended Sept 30, 2021. Based on the assessment done by the management of the Company, there is not much impact of COVID-19 on the results for the quarter ended Sept 30, 2021, however the company has faced challanges relating to manpower, transportation etc. The Company will be closely monitoring any material changes to future economic conditions.

4 Corresponding previous period figures have been regrouped/reclassified wherever necessary.

Place : Hyderabad Date : 12/11/2021

Corporate Office: G-2, Concorde Apartments, 6-3-658, Somajiguda, Hyderabad-500082, Telangana State, India. .+91 (40123310260/61 �+91 (40123311604 @) www.avantifeeds.com avantiho0avantifeeds.com

Registered Office: Flat No.103, Ground Floor, R Square, Pandurangapuram, Visakhapatnam - 530003, Andhra Pradesh, India. CIN: L 16001AP1993PLC095778

UNUDITED STANDALONE STATEMENT OF ASSETS & LIABILITIES AS AT SEPTEMBER 31,2021

	(Rinlakhless.s,uns o	thiseed)staterw
iculaPartrs	At 30,t Ss aep	AschMatar
t A	2021	31.2021
Noetn-currensssd
lanPruityt,toper, paneqpmen	14,957.52	.15586.59
pitalCak-inwor-progress	332.9	212.26
Other igiblenttsanasse	9.4	11.257
Righf uAt oetsesss	15605.	132.05
Fincial aetsanss
Instmtsveen	21,635.2	719703.81
Loans	49.94	72.97
her fincial aOtetsanss	577.3	0570.88
Nnttatson-curreassex	2,377.2	71589.54
heOtnttsr non-curreasse	23.7	02.94
Tol NCut Ataetonrrensss-	40,118.97	37,682.31
Cut Aetrrensss
Invrietoens	24,680.60	31,333.73
l ABiolicaetssog	-	66.25
Fincial atsansse
Invtmtsesen	1,13,416.91	99,530.76
Tradeivablese rec	5,124.9	82,040.26
shdshCauilentsancaeqva	3,372.54	3,376.30
her bkbalanOtances	1,555.26	1,342.56
Loans	70.42	· 95.29
Othet aetsrenr curss	1,588.0	8.1,451.93
Tol CAtanteturresss	1,49,808.7	1,39,237.089
Tol Ataetsss	1,89,927.76	1,76,919.39
EQUITYANDLIABILITIES
uiEqty
uishitalEqtyare cap	1,362.46	1,362.46
heityOtr equ	1,48,852.2	21,48,963.79
l EToitytaqu	1,50,214.6	1,50,326.285
iabilitieNot Ln-currens
Fiialliabilitienancs
iabilitieLee Lass	49.96	90.19
Other fincialliabilitieans	372.00	372.00
Prisiovons	70.6	5-
Deferdliabilities (t)taxrene	1,895.7	11,6955.5
Othet liabilitienon-currenrs	2,388.3	22,11787.
Cut liabilitierrens
Fincial liabilitieans
Bowirrongs	-	-
adTrablese pay
alduf micdall(i)Tdinrisiseottstterteesoroansmouangenrpesenprs	2,846.2	21,444,64
alduf cdiththicr(ii) Tdiiseottotstteresorersoeranmoouanngenprs	32,250.89	19,909.83
dalliseteransmenprs
Lee Liabilitieass	107.2	121.54
Other fincial liabilitiesan	208.2	226.826
Otheliabilitientr curres	1,588.83	2,716.36
Prisiovons	323.35	169.00
Tol CLiabilitietanturres	37,324.76	24,488.19
Tol Liablitiesta	1,89,92767.	1,76,932.22

Place : Hyderabad Date : 12/11/2021

AVANTI FEEDS LIMITED

Unudited standalone statement of Cash Flows for the period ended 30th Sept, 2021

The above Statement of Cash Flows has been prepared under the "indirect Method" set out in Ind AS· 7, 'Statement of Cash Flows' specified under section 133 of the Companies Act, 2013

Purchase of property, plant and equipment includes movements of capital work-in-progress during the year. Figures in brackets indicate cash outflows

Place : Hyderabad Date : 12/11/2021

. Standalone unaudited Segment information for the quarter and half year ended Sept 30, 2021 as per regulation 33 ofSEBI (Listing. Obligations and Disclosure Requirement) Regulations, 2015.

(Rinlakhlesthises.s,uns oerw
			OuEndedtearr		lfvHaea	dedren	YeEndedar
SINo.	Paiculrtars	30,2021Sept	30,2021June	Se30,2020pt	30,2021Sept	30,2020Sept	Mch31,ar2021
		Undidteau	Undidteau	Undidteau	Undidteau	Undidteau	Audidte
I	Set Rgmenevenue
	a)ShrimFeedp	95,993.76	1,23,608.63	89,637.75	2,19,602.39	1,67,372.78	3,23,097 .04
	b)Wind Power	76.94	49.88	62.02	126.82	106.12	151.96
	c)ShrimHatchpery	5.08	405.47	-	410.55	-	-
	d)Ullotednaca	-	-	-	-	-	1,001.80
	Grs Sal/Infrtioosescomeomoperans	96,075.78	1,24,063.98	89,699.77	2,20,139.76	1,6478.907,	3,24,250.80
2	t RulSetsesgmen
	Feeda)Shrimp	106.15	7,657.01	10,515.34	763.167,	19,993.45	33,559.00
	Wind Pb)ower	45.34	13.19	26.14	58.53	39.76	17.04
	c)ShrimHatchpery	(240.94)	57.55	-	(183.39)	-	-
	llotedd)Unaca	-	-	-	-	-	455.54
	Tolta	(89.45)	7,727.75	10,541.48	7,638.30	20,033.21	34;031.58
	Le: Intertsses	59.25	27.21	17.16	86.46	26.33	49.13
	Add:AllotedUInofUetn-cacome nn
	Alloble Editcaxpenure	2,116.14	1,617.44	1,781.16	3,733.58	3,545.23	6,436.85
	l PfitefToBe Ttaroorax	1,967.44	9,317.98	12,305.48	11,285.42	23,552.11	40,419.30
3	Set Aetsgmenss:
	a)edShrimFep	66,074.97	57,608.53	61,384.47	66,074.97	61,384.47	57,507.99
	b)indWPower	482.46	469.83	480.96	482.46	480.96	469.51
	c)hrimheSHatcpry	3,210.14	3,195.56	-	3,210.14	-	-
	d)alledUatn-oc	1,20,160.23	1,28,081.59	1,08,145.49	1,20,160.23	1,08,145.49	1,18,941.88
	l:Tota	1,89,927.80	1,89,355.51	1,70,010.92	1,89,927.80	1,70,010.92	1,76,919.38
4	iabilitiet LSesgmen
	a)hrimedSFep	35,720.37	25,509.69	26,461.86	35,720.37	26,461.86	21,047.62
	b)indWPower	0.32	0.32	0.23	0.32	0.23	0.57
	c)ShrimtchHapery	58.26	64.23	-	58.26	-	-
	d)alldUaten-oc	3,934.11	6,437.97	5,942.17	3,934.11	5,942.17	5,544.90
	l:Tota	3913.06,7	32,012.21	32,404.26	39,713.06	32,404.26	26,593.09

DIN : 00190168 CHAIRMAN & MANAGING DIRECTOR

Place: Hyderabad Date : 12/11/2021

I. Extract of consolidated unaudited financial results for the quarter and half year ended Sept 30, 2021

		(Rs.	lakhlesIns,un	thwied)stats oerse
	Qutearr	lfHaYear	Qutearr	ndedYeE
	EndedSept	EndedSept	dedEnSept	arMch32021
Paiculartrs	30.2021	302021	30.2020	1,ar
	didUnteau	didUnteau	Undidteau	Audidte
tale fOtio(Net)ToIncomromperans	1,22,599.52	2,63,480.04	1,13,162.17	4,10,056.19
Neforthiod(befiol andrdinits)t pfit/(ls)e txtrpte paxor eaoaryemrooseror, exena	5,537.61	1599.98,7	16,221.91	50,966.51
Nefit/(ls)foheiodbef(afteiol anddinits)t pr te tpttraoraxr exenaexoraryemroosper	3,822.61	13,674.98	16,221.91	50,966.51
Nfte(afteionalddinites)ofit/(loss)etr tpttraaaxr exeanexorarympr	3,306.73	10,952.13	12,501.78	39,737.11
talincfohe(coisiofitforthiod(afte)ToCehsiviodr tr tomemprngpre peraxompreneper
dothehsivince (aftx)taaneromercomprene	2,239.30	9,520.50	11,149.38	35,969.78
ShEquie Citaltyarap	1,362.46	1,362.46	1,362.46	1,362.46
Othealuio)ity(eludinatr erevnreservesquxcg				1,74,759.26
She (afdinits)(faaluf R1/-ch)PEaintertraerarexoraryemceve oeearngs
sicBa	1.77	7.12	8.17	26.43
Diluted	1.77	127.	8.17	26.43

Note:

1. Additional information on standalone unaudited financial results is as follows:

		(Rs.	lakhlesIns,un	thwied)stats oerse
	Qutearr	lfHaYear	Qutearr	ndedYeEar
iculaPart	dedEnSept	EndedSept	EndedSept	Mch31,2021ar
rs	302021	30.2021	302020
	Undidteau		Undidteau	Audidte
l Ie ftio(N)ToOtaetncomromperans	96,075.78	2,20,139.76	89,699.77	3,24,250.80
NProfitforthiod befete te perorax	1,967.44	11,285.42	12,305.48	40,419.30
ofitfoheaftNPriodetr ttaerperx	1,557.55	8,582.39	9,193.71	30,537.09
Tol Ce iforthiod (isiofitforthiod(afte)taehsivr tncomee pe peraxomprenercomprngpr	1,386.75	8,403.78	9,216.92	30,505.85
dothheive ie (aft)taxanercomprensncomer
ShaCitalEquityreap	1,362.46	1,362.46	1,362.46	1,362.46
Othe(eludinaluio)ityatr excg revnreservesqu				1,48,963.79
1/-inPShe (faaluf Rch)Earngserarceve oe.ea
sicBa	1.14	6.30	6.75	22.41
Diluted	1.14	6.30	6.75	22.41

1. The above unaudited financial results were reviewed by the Audit Committee at its meeting on November 12, 2021 and approved by the Board of Directors at its meeting held on November 12, 2021. The statutory auditors of the company has carried out a Limited Review of the above results.

2. The above is an extract of the detailed format of the standalone and consolidated unaudited financial results for the quarter and half year ended Sept 30, 2021 filed with the Stock Exchange under Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full Format of the standalone and consolidated unaudited financial results for the quarter and half year ended Sept 30, 2021 are available on the Stock Exchange websites (www.nseindia.com, www.bseindia.com) and Company's website at http://www.avantifeeds.com/QuarterlyResults.php

Place : Hyderabad Date : 12/11/2021

Corporate Office: G-2. Concorde Apartments, 6-3-658, Somajiguda, Hyderabad-500082, Telangana State, India. . +91 140123310260 /61 .!!'. +91140123311604 ilID www.avantifeeds.com avantihoraavanlifeeds.com

Registered Office: Flat No.103, Ground Floor, R Square, Pandurangapuram, Visakhapatnam - 530003, Andhra Pradesh, India. CIN: L16001AP1993PLC095778