Avanti Feeds announced that the company had previously informed that CDC (Centre for Disease Control, US Government) and US Food and Drug Administration (USFDA) had recalled some of the cooked Shrimp products exported to US by the Avanti Frozen Foods, a Subsidiary Company (AFFPL), from the US market, identified as potential for contamination for containing Salmonella in those Products.

Subsequently, the USFDA, after satisfied with several preventive measures and streamlining of the quality control systems taken by the AFFPL, considered the recall of the product(s) to be terminated vide its email received by the Company from USFDA during the early hours of 25 May 2022.

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Avanti Feeds announced that the 29th Annual General Meeting (AGM) of the company will be held on 12 August 2022.

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Avanti Feeds announced that the Board of Directors of the Company at its meeting held on 12 May 2022, has recommended a Final dividend of Rs.6.25 per share (i.e.625%), subject to the approval of the shareholders.

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Net profit of Avanti Feeds rose 21.04% to Rs 84.35 crore in the quarter ended March 2022 as against Rs 69.69 crore during the previous quarter ended March 2021. Sales rose 21.32% to Rs 1332.24 crore in the quarter ended March 2022 as against Rs 1098.11 crore during the previous quarter ended March 2021.

For the full year,net profit declined 38.46% to Rs 221.57 crore in the year ended March 2022 as against Rs 360.07 crore during the previous year ended March 2021. Sales rose 22.81% to Rs 5035.96 crore in the year ended March 2022 as against Rs 4100.56 crore during the previous year ended March 2021.

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