Apex Frozen Foods Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹235.89Overvalued by 34.84%vs CMP ₹362.00

P/E (22.8) × ROE (7.6%) × BV (₹169.00) × DY (0.69%)

₹154.87Overvalued by 57.22%vs CMP ₹362.00

MoS: -133.7% (Negative)Confidence: 70/100 (High)Models: All 10: Overvalued

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹225.84	20%	Over (-37.6%)
Graham Number	Earnings	₹200.48	15%	Over (-44.6%)
Earnings Power	Earnings	₹42.61	10%	Over (-88.2%)
DCF	Cash Flow	₹104.11	12%	Over (-71.2%)
Net Asset Value	Assets	₹169.30	7%	Over (-53.2%)
EV/EBITDA	Enterprise	₹126.33	8%	Over (-65.1%)
Dividend Discount	Dividends	₹20.40	8%	Over (-94.4%)
Earnings Yield	Earnings	₹105.70	7%	Over (-70.8%)
ROCE Capital	Returns	₹233.29	8%	Over (-35.6%)
Revenue Multiple	Revenue	₹261.00	5%	Over (-27.9%)
Consensus (10 models)		₹154.87	100%	Overvalued

Key Drivers: Wide model spread (₹20–₹261) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -4.3%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 1:41 am +05:30. Annual results through Mar 2025; quarterly results through Sep 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹814.00 Cr, versus ₹804.00 Cr in Mar 2024 (1.2% year on year). Net profit for Mar 2025 was ₹4.00 Cr, versus ₹15.00 Cr in Mar 2024 (-73.3% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹54.00 Cr against net profit of ₹4.00 Cr. Cash flow covered 13.50 times reported profit. Cash generation supports the reported profit for this period; check whether this continues over several years.

Balance-sheet check

Reported borrowings were ₹6.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Apex Frozen Foods Ltd scores 71/100 (Strong)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health70/100 · Strong

ROCE 10.4% AverageROE 7.6% AverageD/E 0.14 Low debtInterest Coverage 3.4x AdequateProfitable 5/5 available years Reported history

Smart Money60/100 · Moderate

FII holding up 0.99% (6mo) Slight increasePromoter holding at 72.6% Stable

Earnings Quality65/100 · Strong

CFO/NP ratio: 3.38x Cash-backed earningsOPM contracting (9% → 4%) Declining

Quarterly Momentum90/100 · Strong

Revenue (4Q): +33% YoY AcceleratingProfit (4Q): +360% YoY Strong

Industry Rank65/100 · Strong

P/E 22.8 vs industry 22.8 In-lineROCE 10.4% vs industry 6.1% Above peersROE 7.6% vs industry 4.8% Above peers3Y sales CAGR: -4% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 24, 2026, 1:41 am

Market Cap	1,129 Cr.
Current Price	362
Intrinsic Value	₹155.41
High / Low	514/219
Stock P/E	22.8
Book Value	169
Dividend Yield	0.69 %
ROCE	10.4 %
ROE	7.60 %
Face Value	10.0
PEG Ratio	-5.35

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Apex Frozen Foods Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Apex Frozen Foods Ltd	1,129 Cr.	362	514/219	22.8	169	0.69 %	10.4 %	7.60 %	10.0
BKV Industries Ltd	14.0 Cr.	9.05	12.8/7.36		2.76	0.00 %	1.83 %	2.06 %	1.00
Industry Average	1,129.00 Cr	185.53		22.80	85.88	0.35%	6.12%	4.83%	5.50

All Competitor Stocks of Apex Frozen Foods Ltd

Quarterly Result

Metric	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	293	231	212	254	241	148	162	186	200	231	197	258	238
Expenses	281	212	204	241	222	140	160	175	196	227	191	243	227
Operating Profit	12	18	8	13	19	8	1	11	4	4	7	15	11
OPM %	4%	8%	4%	5%	8%	6%	1%	6%	2%	2%	3%	6%	5%
Other Income	16	0	-5	0	1	1	1	0	1	2	1	3	9
Interest	5	3	2	3	3	2	2	2	3	3	1	2	1
Depreciation	5	5	4	5	5	3	1	4	4	4	4	4	4
Profit before tax	18	10	-3	5	11	4	-0	5	-2	-0	3	13	16
Tax %	26%	25%	38%	28%	27%	17%	-27%	25%	-19%	5%	30%	30%	24%
Net Profit	14	8	-4	4	8	3	-0	4	-2	-0	2	9	12
EPS in Rs	4.35	2.48	-1.29	1.17	2.67	0.95	-0.12	1.22	-0.53	-0.07	0.63	2.91	3.80

Last Updated: January 2, 2026, 12:07 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 7:46 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	514	599	604	699	999	875	827	818	926	1,070	804	814	958
Expenses	482	566	563	654	889	785	740	728	840	987	764	788	911
Operating Profit	33	33	40	44	110	90	87	91	86	83	40	25	47
OPM %	6%	5%	7%	6%	11%	10%	11%	11%	9%	8%	5%	3%	5%
Other Income	0	5	5	11	20	21	19	8	6	2	3	5	17
Interest	8	10	10	11	9	7	11	16	17	15	9	9	5
Depreciation	5	0	5	6	9	11	15	22	19	19	15	15	14
Profit before tax	20	28	30	37	113	94	81	61	56	51	20	6	45
Tax %	34%	34%	35%	33%	30%	35%	25%	27%	27%	29%	25%	31%
Net Profit	13	18	19	25	79	61	61	44	41	36	15	4	33
EPS in Rs	6.71	7.65	8.03	10.47	25.31	19.46	19.40	14.17	13.14	11.48	4.67	1.24	10.57
Dividend Payout %	0%	0%	0%	10%	8%	10%	0%	14%	19%	22%	43%	161%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	38.46%	5.56%	31.58%	216.00%	-22.78%	0.00%	-27.87%	-6.82%	-12.20%	-58.33%	-73.33%
Change in YoY Net Profit Growth (%)	0.00%	-32.91%	26.02%	184.42%	-238.78%	22.78%	-27.87%	21.05%	-5.38%	-46.14%	-15.00%

Apex Frozen Foods Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	3%
5 Years:	0%
3 Years:	-4%
TTM:	20%

Compounded Profit Growth
10 Years:	-14%
5 Years:	-42%
3 Years:	-54%
TTM:	-38%

Stock Price CAGR
10 Years:	%
5 Years:	-4%
3 Years:	-13%
1 Year:	-17%

Return on Equity
10 Years:	11%
5 Years:	6%
3 Years:	4%
Last Year:	1%

Last Updated: September 4, 2025, 11:25 pm

Balance Sheet

Last Updated: June 17, 2026, 1:30 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	24	24	24	31	31	31	31	31	31	31	31	31
Reserves	32	51	85	271	324	365	409	437	459	466	463	497
Borrowings	90	79	110	85	108	163	168	167	91	107	73	6
Other Liabilities	19	24	57	43	47	68	49	42	33	29	46	59
Total Liabilities	165	179	277	431	510	627	657	678	614	633	613	593
Fixed Assets	52	55	83	111	115	280	250	236	242	254	243	239
CWIP	0	8	1	21	116	3	15	22	18	4	4	2
Investments	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	113	116	193	299	279	344	391	420	354	376	367	352
Total Assets	165	179	277	431	510	627	657	678	614	633	613	593

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	12	37	14	33	49	58	13	36	121	11	54	96
Cash from Investing Activity +	-12	-16	-29	-58	-114	-44	-14	-10	-22	-8	-6	-2
Cash from Financing Activity +	-0	-21	17	85	7	-14	4	-27	-99	-2	-49	-78
Net Cash Flow	0	0	3	60	-58	1	3	-2	1	1	-1	16
Free Cash Flow	0	21	-12	-24	-60	20	0	25	100	-1	46	90
CFO/OP	63%	118%	62%	69%	91%	86%	23%	55%	171%	43%	194%	192%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	0.00	21.00	-12.00	-24.00	-60.00	20.00	0.00	25.00	100.00	-1.00	46.00	90.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	24	31	25	43	25	39	35	67	52	38	49	57
Inventory Days	47	39	48	44	53	67	117	106	120	88	129	118
Days Payable	15	9	13	21	14	20	29	20	12	8	10	16
Cash Conversion Cycle	56	60	60	66	64	86	123	154	160	118	167	158
Working Capital Days	52	8	13	24	39	47	54	83	90	71	107	110
ROCE %	28%	29%	27%	26%	40%	24%	18%	13%	12%	11%	5%	2%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	72.62%	72.62%	72.62%	72.62%	72.62%	72.62%	72.62%	72.62%	72.62%	72.62%	72.62%	72.62%
FIIs	0.02%	0.03%	0.00%	1.27%	2.43%	3.37%	3.29%	4.18%	4.84%	4.74%	6.00%	5.83%
DIIs	0.08%	0.00%	0.05%	0.22%	0.76%	0.37%	0.44%	0.55%	0.55%	0.55%	0.66%	0.61%
Public	27.27%	27.35%	27.32%	25.86%	24.18%	23.64%	23.65%	22.64%	21.97%	22.08%	20.73%	20.93%
No. of Shareholders	40,285	38,947	42,155	39,856	42,451	41,027	40,895	39,170	39,445	37,595	39,165	39,978

Shareholding Pattern Chart

No. of Shareholders

Apex Frozen Foods Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India Small Cap Fund	501,991	0.03	10.74	501,991	2025-04-22 17:25:42	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	1.24	4.67	11.48	13.15	14.17
Diluted EPS (Rs.)	1.24	4.67	11.48	13.15	14.17
Cash EPS (Rs.)	6.15	9.41	17.70	19.07	21.19
Book Value[Excl.RevalReserv]/Share (Rs.)	158.23	159.06	156.79	152.14	140.74
Book Value[Incl.RevalReserv]/Share (Rs.)	158.23	159.06	156.79	152.14	140.74
Dividend / Share (Rs.)	2.00	2.00	2.50	2.50	2.00
Revenue From Operations / Share (Rs.)	260.34	257.31	342.50	292.54	261.91
PBDIT / Share (Rs.)	9.51	14.22	27.13	29.47	31.51
PBIT / Share (Rs.)	4.61	9.48	20.91	23.55	24.48
PBT / Share (Rs.)	1.79	6.26	16.20	17.99	19.39
Net Profit / Share (Rs.)	1.24	4.67	11.48	13.15	14.17
PBDIT Margin (%)	3.65	5.52	7.91	10.07	12.02
PBIT Margin (%)	1.76	3.68	6.10	8.04	9.34
PBT Margin (%)	0.68	2.43	4.73	6.14	7.40
Net Profit Margin (%)	0.47	1.81	3.35	4.49	5.41
Return on Networth / Equity (%)	0.78	2.93	7.32	8.64	10.06
Return on Capital Employeed (%)	2.82	5.77	13.06	14.58	16.35
Return On Assets (%)	0.63	2.30	5.84	6.04	6.74
Long Term Debt / Equity (X)	0.01	0.01	0.01	0.06	0.06
Total Debt / Equity (X)	0.14	0.21	0.18	0.34	0.37
Asset Turnover Ratio (%)	1.31	1.29	1.66	1.37	1.28
Current Ratio (X)	3.39	3.01	2.99	2.39	2.04
Quick Ratio (X)	1.59	1.37	1.41	1.23	1.19
Inventory Turnover Ratio (X)	4.22	3.07	3.76	3.61	3.07
Dividend Payout Ratio (NP) (%)	161.22	53.51	21.77	15.21	0.00
Dividend Payout Ratio (CP) (%)	32.52	26.55	14.12	10.48	0.00
Earning Retention Ratio (%)	-61.22	46.49	78.23	84.79	0.00
Cash Earning Retention Ratio (%)	67.48	73.45	85.88	89.52	0.00
Interest Coverage Ratio (X)	3.38	4.42	5.76	5.30	6.19
Interest Coverage Ratio (Post Tax) (X)	1.44	2.45	3.44	3.36	3.78
Enterprise Value (Cr.)	725.39	712.65	683.47	1027.13	804.31
EV / Net Operating Revenue (X)	0.89	0.88	0.63	1.12	0.98
EV / EBITDA (X)	24.40	16.04	8.06	11.15	8.17
MarketCap / Net Operating Revenue (X)	0.80	0.76	0.56	0.95	0.79
Retention Ratios (%)	-61.22	46.48	78.22	84.78	0.00
Price / BV (X)	1.33	1.24	1.23	1.83	1.47
Price / Net Operating Revenue (X)	0.80	0.76	0.56	0.95	0.79
EarningsYield	0.01	0.02	0.05	0.04	0.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Apex Frozen Foods Ltd and is it undervalued?

Apex Frozen Foods Ltd: the stored intrinsic value estimate is ₹154.87, compared with a stored share price of ₹362.00. The model value is 57.2% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Apex Frozen Foods Ltd?

The stored share price is ₹362.00. Price-data record updated: 24 September 2026, 1:41 am +05:30. This is not a live quote. The stored 52-week high / low is 514/219; this is a rolling range, not a financial-year range.

How have Apex Frozen Foods Ltd's revenue and profit changed?

Does Apex Frozen Foods Ltd's profit convert into cash?

What should I check in Apex Frozen Foods Ltd's balance sheet?

Reported borrowings were ₹6.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Apex Frozen Foods Ltd's P/E with other stocks?

The stored P/E is 22.80. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Apex Frozen Foods Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.