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)