Financial Performance Highlights

Full Year FY26 Performance (Year Ended March 31, 2026)

  • Revenue from Operations: ₹524.72 crore, representing a 37.89% year-on-year (YoY) growth from FY25's ₹380.53 crore.
  • EBITDA: ₹36.03 crore, representing a 26.16% YoY growth from FY25's ₹28.56 crore.
  • Net Profit (PAT): ₹15.90 crore, representing a 59.68% YoY growth from FY25's ₹9.96 crore.
  • EBITDA margins moderated by approximately 60 basis points compared to the previous year.

Q4 FY26 Performance (Quarter Ended March 31, 2026)

  • Revenue from Operations: ₹117.24 crore, representing a 24.85% YoY growth from Q4FY25's ₹93.91 crore.
  • EBITDA: ₹3.34 crore, representing a 19.71% YoY decline from Q4FY25's ₹4.16 crore.
  • Net Profit (PAT): ₹0.05 crore, representing an 89.84% YoY decline from Q4FY25's ₹0.53 crore.

Management Commentary

Executive Director Sharat Reddy Sabbella cited FY26 as a "year of resilient growth" despite a challenging global operating environment. Key factors supporting growth included healthy export demand, strengthened customer relationships, and a higher contribution from value-added products. The company responded to margin pressures by focusing on operational efficiencies, cost optimisation, product mix improvement, and market diversification.

Business & Operational Highlights

  • The strong FY26 revenue growth was supported by healthy export demand, stronger business volumes, and product diversification.
  • Demand in the U.S. market has started normalizing following tariff-related developments.
  • The China market saw remarkable growth, with its revenue contribution increasing from 1.4% in FY25 to 19% in FY26.
  • The Black Tiger shrimp product, a higher-margin value-added offering, witnessed strong export demand.
  • EBITDA margins remained under pressure due to elevated raw material costs (particularly fish meal), crude-linked inflationary pressures, and additional costs from shipment disruption.
  • The company is evaluating opportunities in newer markets including Germany, Kazakhstan, and Vietnam.
  • The Feed division performance remained healthy during Q4FY26, supported by seasonal stocking by farmers.
  • A new value-added product category, "PD Curl Control," was introduced in Q4FY26, with initial sample shipments sent to Russia.

Solar Power Project Update

  • The company is implementing a 1 MW solar power project for captive consumption at its Nellore processing facility.
  • The total estimated project cost is approximately ₹4.5 crore.
  • As of Q4FY26, 310 kW (approximately 30% of planned capacity) was commissioned.
  • The remaining 70% capacity is expected to be commissioned by the end of Q1FY27.
  • Once fully operational, the project is expected to generate annual savings of approximately ₹1.4–1.5 crore.
  • The captive power benefits are expected to reflect from Q2FY27 onwards.

The purpose of the project is to improve energy efficiency and reduce power costs across operations.

Company Background

Sharat Industries Limited is a publicly listed aquaculture company headquartered in Nellore, Andhra Pradesh, operating across the shrimp value chain (feed, farming, processing, and exports). The company has over three decades of experience, a 500-acre shrimp farm, and a processing plant with global certifications.