The Andhra Pradesh, Kakinada-based shrimp manufacturer Apex Frozen Foods has seen a dream ride on stock exchanges since listing in September this year. Share price for Apex has climbed more than 300% since listing at a share price of approximately Rs. 209. Listed competitors of the firm include Avanti Feeds, Waterbase and Zeal Aqua.
Apex has been seeing good buying from investors since it announced strong results. The company reported net profits of Rs 38.7 crore in the first half (April to September) of current financial year 2017-18, compared to profits of Rs 24.3 crore during the entire previous fiscal 2016-17. The company manufactures and exports ready-to-cook, aquaculture products to food companies, retail chains, restaurants and distributors across US, UK and Europe.