Q2 call: feed costs pressure margins; expansion and growth plans outlined
SKMEGGPROD · price
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On the reaction day the stock moved 4.3 pts more than Nifty Microcap 250 and 5.8 pts more than its Meat Products including Poultry peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 FY27 revenue was Rs 184 crore, but feed costs cut profit after tax to Rs 16 crore from Rs 24 crore. Management expects profit above Rs 100 crore for the year and a small margin improvement over six months through soya imports. Plans include a 2.4 million-bird farm, a 10,000-ton powder expansion costing Rs 180 crore and branded eggs targeting 5 lakh eggs a day within three years. Two South Korea customers may place a first order next quarter.
Feed and export price pressure may weigh on near-term earnings. Import savings and expansion could help, but high capex and debt add funding risk.