The Waterbase Limited announces Q2 FY21 Results

The Waterbase Ltd. (TWL), pioneer in the Indian Aquaculture Industry with integrated offerings of hatcheries, shrimp feed and fanncare products supported by shrimp processing capacities has announced its financial results for the quarter ended September 30, 2020.

Financial Highlights - Q2 FY21

- Reported Total Income of Rs. 68 crore
- PBT of Rs. 5.88 crore
- PAT was Rs. 4.34 crore

Commenting on the results, Mr. Ramakanth V. Akula, CEO said, "Having started the year on a soft note, there was an improved macro environment for shrimp farming in Q2. Trends in farm-gate prices, availability of seeds and availability of migrant labour improved considerably towards the end of Q1 reviving interest from farmers towards shrimp cultivation. Despite some impact from monsoon rains which deferred the stocking in July, there were several green shoots during Q2 indicating slight improvement in levels of stocking and farming activity on a quarter-on-quarter basis.

Global shrimp consumption improved as out-of-home consumption increased in the summer months, While the retail segment remains strong, the mainstay food service segment continues to remain under stress. The outlook remains challenging by the re-emergence of Covid-19 cases in key consumption centres of USA and Europe and the possibility of a more severe second wave.

Raw material prices have been steady and prices of Soya bean are expected to remain stable on the back of good monsoon season. Further, our efforts towards rationalizing costs should help us offset part of the impact on margins due to lower volumes and realizations.

Shares of WATERBASE LTD. was last trading in BSE at Rs.101.85 as compared to the previous close of Rs. 100.65. The total number of shares traded during the day was 29778 in over 1261 trades.

The stock hit an intraday high of Rs. 103.25 and intraday low of 100.3. The net turnover during the day was Rs. 3036150.

Source : Equity Bulls

Keywords