Key Financial Performance
- H1 FY27 Consolidated Revenue: ₹244.6 crore
- Growth driven by strong demand across domestic and export markets, supported by favorable fish meal pricing and improved product realizations
Historical Financial Performance (Annual)
| Particulars | FY23 (₹ Cr) | FY24 (₹ Cr) | FY25 (₹ Cr) | FY26 (₹ Cr) |
| Revenues from operations | 1,156.40 | 1,342.10 | 980.00 | 1,403.60 |
| Other operating income | 20.80 | 37.70 | 26.40 | 45.90 |
| Total Revenues from operations | 1,177.10 | 1,379.80 | 1,006.40 | 1,449.50 |
| Other income | 6.70 | 16.30 | 15.10 | 28.70 |
| Total income | 1,183.80 | 1,396.10 | 1,021.50 | 1,478.20 |
| Profit before tax | 64.50 | 84.40 | 59.20 | 73.10 |
| Profit for the year | 47.50 | 74.30 | 48.10 | 57.10 |
Operational Highlights – Q2 FY27
- Oman Operations Commenced: New production facility in Al Joubah Industrial Area, Oman spread over 21,249 sq. mt began commercial production of fishmeal, fish oil and soluble paste
- US FDA Facility Registration: Secured registration facilitating engagement with customers requiring FDA-registered manufacturing facilities
- Credit Rating Update: ₹495 crore bank facilities rated CARE BBB−; Stable / CARE A3, with outlook revised from Negative to Stable
Sustainability & ESG Initiatives
- Waste Diversion: 1,00,000+ tonnes wet waste diverted from landfills
- Carbon Credits: Approvals received for 1,200 TPD (EPPL 200 TPD + MPL 300 TPD advanced toward carbon credit issuance + incremental 700 TPD approved for MPL)
- MarinTrust Improver Programme: Accepted into program for responsible supply of marine ingredients, improving supply-chain transparency and responsible sourcing
- Global Certifications: Export Inspection Certification, HACCP, ISO Food Safety, ISO Quality, China Registered License, GMP+ Feed Certification, US FDA facility registration
Business Diversification & Expansion
A) Fish Protein Vertical
- Market leadership with ~25-30% share of Indian fish protein exports
- Products include fishmeal (60-65% protein), fish oil, fish soluble paste
- End-use markets: Aquaculture (90%+), Poultry, Pet Food, Veterinary Pharma, Industrial
B) Alternate Proteins - Insects Biotech Platform
- Black Soldier Fly (BSF)-based insect protein and compost industry
- Product portfolio: Insect Meal, Insect Oil, Insect Compost, Humic Acid, Briquettes
- Capacity: 200 TPD in Mangaluru, 1,000 TPD in Bengaluru, 200 TPD in Kochi
C) Waste Management & Environmental Solutions
- Municipal wet waste processing and large-scale leachate treatment for government bodies
- Annuity-style business model with long-term government contracts
D) Frozen & Value-added Marine Products
- EU-approved, export-focused frozen seafood platform
- Processing capacity: 167 TPD freezing capacity, 1,926 TPD cold storage
- Products: Surimi, IQF Frozen Seafood, Blast Frozen Products
- Key species: Shrimp, Prawns, Squid, Cuttlefish, Ribbon Fish, Croaker, Sole Fish, Pomfret, Mackerel, Octopus
Organic Farming Opportunity
- USDA NOP Inputs Attestation: Eco Sphere Organic Fertilizer recognized as suitable for use in organic-farming markets including United States
- Market opportunity: US organic-fertilizer market expected to reach US$2.30 billion by 2031, growing at 11.5% CAGR
- US composting industry to add 300-500 food-waste-accepting compost facilities over 5 years
Strategic Advantages
- Global Manufacturing: Strategically located coastal assets with export-led, integrated supply chain
- Market Position: Among India's largest exporters of fish meal and fish oil with export excellence awards
- Policy Support: ₹2,761.8 crore fisheries allocation, ₹2,500 crore PM Matsya Sampada Yojana, duty-free fish catch in EEZ & high seas
- Global Market Trends: Fishmeal shortage expected from 2028, climate change disrupting supply, rising price volatility
Leadership & Governance
- Founder Chairman: Mr. K Abdul Razak with 50+ year marine industry legacy
- Company Secretary & Compliance Officer: Mehaboobsab Mahmadgous Chalyal (Membership No.: A67502)
- Investor Relations: Handled by Ernst & Young LLP (Vikash Verma, Sumedh Desai, Sukhin Naphade)