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Stock Report
The Waterbase Limited announces FY22 Results
Posted On : 2022-05-13 22:11:26( TIMEZONE : IST )
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 year ended March 31, 2022.
In Q4 FY22
- Reported Total Income of Rs. 39.2 Cr
- Loss before Tax of Rs. 8.1 Cr
- Loss After Tax of Rs. 6.2 Cr
In FY22
- Reported Total Income of Rs. 301 Cr
- PBT of Rs. 0.36 Cr
- PAT of Rs. 0.10 Cr
Commenting on the results, Mr. Ramakanth V. Akula, CEO said, "FY22 was a challenging year for the dominant business line of shrimp feed. While we registered a double-digit growth in the feed business the rising input prices adversely impacted profitability. We were able to grow revenues significantly due to our integrated business model, largely driven by shrimp exports and sale of farm care & health care products.
The shrimp processing unit is presently being upgraded and we will be ready for exports in July 2022. Onset of processing business offers a new growth vector for the Company amidst growing demand for the product both in domestic and international markets.
The stocking for the summer crop got delayed in our key markets due to limited availability of Black Tiger seed, inclement weather and disease outbreaks. However, we are cautiously optimistic that the farming activity will gain momentum during the rest of the year. Persistent increase in the feed raw material prices remain the key challenge for the year which is impacting profitability. While Fishmeal and Soybean meal prices remain elevated, wheat prices also have hardened in recent times further compounding the pricing pressure in the feed business.
The shrimp industry can contribute to food security in a sustainable and value accretive manner. In the backdrop of heightened geopolitical uncertainty, global supply chains are being redrawn and as a wellregarded player in the global shrimp aquaculture industry, we are ably positioned to elevate our performance.
Shares of Waterbase Limited was last trading in BSE at Rs. 80.15 as compared to the previous close of Rs. 81.90. The total number of shares traded during the day was 6905 in over 301 trades.
The stock hit an intraday high of Rs. 82.80 and intraday low of 77.00. The net turnover during the day was Rs. 556995.00.
