Apex Frozen shares zoom 20%; Geojit recommends 'Buy'

Shares of Apex Frozen Foods Ltd surged sharply on Wednesday, rising 19.98 per cent to hit a high of Rs 262.70. The stock was last trading 17.61 per cent higher at Rs 257.50. At this level, it has declined 2.22 per cent so far in the calendar year 2025.

Apex, headquartered in Andhra Pradesh, is a South India-based exporter of processed shrimps with an installed capacity of 34,240 MT. Geojit Investments has issued a 'Buy' call on this smallcap, setting a target price of Rs 284.

"Apex entered FY26 with healthy operational momentum, aided by recovery in volumes and margins along with diversification initiatives. That said, the US tariff hike -- now at 50 per cent -- remains a near-term challenge for demand and pricing. However, Apex's increasing focus on EU, Canada and UK markets, together with steady global shrimp prices and falling freight costs, places it in a strong position to handle volatility. The company aims for a 10 per cent share from the UK market (5 per cent in FY25) following the FTA. Moreover, the EU's recent approval for its ready-to-eat (RTE) product facilities opens up new growth avenues," the domestic brokerage stated.

"This is expected to boost EU sales by ~30 per cent in the first year post-approval, adding ~2,500 MT in incremental volume. We forecast revenue/EBITDA growth of 13 per cent/85 per cent, respectively, over FY25-27E. Valuing Apex at 17X P/E, we reiterate a BUY rating with a revised target of Rs 284," Geojit added.

Shrimp counters, including Apex Frozen, rallied today after the European Union (EU) cleared 102 additional Indian fishery units for exports to EU member nations.

The EU is India's second-largest seafood export market and this step is expected to lift India's seafood exports to the EU by nearly 20 per cent, a government official noted.