The Waterbase Limited announces Q2 FY22 Results

The Waterbase Ltd. (TWL), pioneer in the Indian Aquaculture Industry with integrated offerings of hatcheries, shrimp feed and farm care products supported by shrimp processing capacities has announced its financial results for the quarter and half year ended September 30, 2021.

In Q2FY22

• Total Income of Rs. 75.8 Crs
• PBT of Rs. 0.23 Crs
• PAT of Rs. 0.16 Crs

In H1FY22

• Total Income of Rs. 202.5 Crs
• PBT of Rs. 10.44 Crs
• PAT of Rs. 7.77 Crs

Commenting on the results, Mr. Ramakanth V Akula, CEO said, "We witnessed subdued levels of shrimp farming activity in the second quarter. Episodes of inclement weather, excess rainfall and sporadic disease outbreaks have served to further impact customer sentiment across the industry, disrupting the momentum witnessed in the first quarter of this fiscal. The muted demand for feed coupled with higher input prices, especially soya, have impacted the profitability for the quarter.

While margins have been under pressure due to sharp inflation witnessed in key raw materials and other ancillary costs, we have made significant progress on strategic imperatives of increased reach, better quality of revenues and customer loyalty. We are confident of driving improved brand salience, higher wallet share and faster cash conversion in the quarters ahead. Global demand for frozen shrimp is rapidly normalising and we are confident that the supply side challenges will be addressed. This will enable us to leverage our increasingly integrated business model and strengthened balance sheet to set new benchmarks in performance."

Shares of Waterbase Limited was last trading in BSE at Rs. 108.45 as compared to the previous close of Rs. 107.40. The total number of shares traded during the day was 27879 in over 1180 trades.

The stock hit an intraday high of Rs. 112.20 and intraday low of 105.00. The net turnover during the day was Rs. 3072545.00.

Source : Equity Bulls

Keywords

WaterbaseLimited INE054C01015 Q2FY22 ResultUpdate