Top Aquaculture Companies In India In 2023!

Aquaculture Companies In India: Close to the end of 2022, the world was aware that the global population of humanity would breach the 8 billion mark, a true milestone as this figure represents the most number of people alive on Earth in its entire recorded history.

For businesses, this is a great opportunity, throughout the globe. This meant people would consume more, shop more, and every single industry in existence would thrive. But that is only as good as the supply of raw materials and the production of goods today.

It is estimated that by 2050, the population of the globe would reach 9.8 billion. This figure, growing at an alarming rate, would put pressure on one particular industry – Food. With this many people covering the globe, there would be an exponentially high demand for all types of food. 

Especially for India, which is currently home to the 2nd largest population in the world, coming very close to China. One particular industry within the food sector is expected to grow exponentially in the years to come – Aquaculture, commonly known to consumers as seafood.

We’re going to cover some of the key aquaculture companies in India, the industry of aquaculture, and its future in the global seafood market. 

India is at a geographic advantage when it comes to the aquaculture Industry, having two sides of the country surrounded by major water bodies, not including the river system found within the states as well.

This makes it easy not only for aquaculture but for exports via sea carriers as well. Now with that being said, some of the top aquaculture active states are those located along the coastline, both east and west. 

Aquaculture – Meaning & Industry Overview

Aquaculture simply means the cultivation of fishes, seaweed, and aquatic plants in aquatically controlled environments, both marine and freshwater. The main purpose of aquaculture is human consumption, although it also includes ornamental fishing as well. 

• Currently, India is the 3rd largest producer of fish in the world, meeting 8 percent of global production, and the 4th largest exporter of fish and fisheries products. 
• For ornamental fisheries, the top export destinations are Thailand, UAE, Singapore, Hong Kong, China, Jordan, and Taiwan. 
• The expert value of ornamental fishes stood at $4.54 million dollars in FY 2022. 
• As of FY 2022, the export value stood at a whopping $7.76 billion dollars. The top 5 exporting countries of India’s aquaculture products are the USA, China, Japan, Vietnam, and Thailand. As of FY 2022, India’s fish production stood at a record 16.25 MMT. 
• Most of our fish production is inland, accounting for 75 percent, and the remaining 25 percent was by marine fisheries. The aquaculture sector is responsible for the livelihood of 28 million people along the supply chain.
• The top states that contribute to the aquaculture industry in India are – West Bengal, Tamil Nadu, Maharashtra, Kerala, Odisha Gujarat, Karnataka, Assam, and Manipur. 

Aquaculture Companies In India

Here is a list of the few listed aquaculture companies in India:

Given the size of the companies, we’ll go into detail about the biggest aquaculture company in the list, followed by a general overview of the remaining companies. 

Avanti Feeds

One of the biggest listed aquaculture companies in India is Avanti Feeds. It is a thirty-year-old aquaculture company, mainly focused on the production and export of shrimp. It has been a listed company since 1994, and it is one of the larger organizations in the aquaculture industry. 

Company Overview

The company has 5 shrimp feed processing plants, 2 frozen shrimp processing plants, and clients around the world, including countries like the USA, Korea, Japan, and China. 

The shrimp feed unit of Avanti feeds has an annual production capacity of 7,75,000 metric tons, whereas Avanti Frozen, its frozen shrimp unit, has a capacity of 22,000 metric tons annually. 

Besides aquaculture, the company has also invested itself in the power sector, having a windmill project located in Chitradurga, Karnataka, a gas power project (Srivathsa Power Projects, Andhra Pradesh), and a hydel power project (Patikari Power, Himachal Pradesh). 

Avanti Feeds operates using a Farm To Fork business model, being proactively present throughout the supply chain, from the farmers to the end users. The company is based out of Telangana, and its registered office is located in Hyderabad. 

Fundamental Analysis Of Avanti Feeds

Avanti Feeds is a small-cap aquaculture company, headquartered in Hyderabad. It has a market capitalization of ₹4,495 crores, which, although small in size, is one of the largest listed companies in its sector. 

The revenues of Avanti Feeds for FY 2022 are at their all-time high, recording sales of ₹5,118 crores. For the financial year 2022-23, three quarters’ sales add up to ₹3,994 crores.

While revenues have been mostly positive, the company’s profits did not necessarily follow the same route, even though it has been completely green. For FY 2022, the company posted net profits of ₹245 crores, a slight letdown from its previous year’s profits of ₹397 crores. 

Ratios & Margins

The company’s operating profit margin has halved over one financial year, from 10.48 percent in FY 2021 to 5.04 percent in FY 2022.  The same pattern is seen for net profit margin as well (4.92 percent in FY 2022 and 9.42 percent in FY 2021). 

Going by the company’s posted ratios, it has had a phenomenal performance in the past five years, up until 2019-20 and afterward. For instance, ROE and ROCE were quite high at 20 percent for both ratios in 2020-21.

The company has also maintained a healthy DE ratio of zero, even during FY 2019-20, indicating sound financial health even in times of severe economic crises. Receivable days and inventory days have increased slightly over the years.

The 5-year returns of Avanti Feeds have been negative, despite positive figures in terms of sales and net profits. It has given a return of -56.87 percent in 5 years and -20.11 percent in the past year. 

Future Prospects Of The Company

• Avanti Feeds expects the aquaculture industry to grow substantially in the coming years. Already, India is the biggest exporter of shrimp in the world, with the USA being its biggest export market. 
• It expects its sales to grow by 7 percent in FY 2023 or 5.80 lakh metric tons while maintaining a market share of 48-50 percent. For comparison, its sales in FY 2022 were 5.41 lakh metric tons. 
• At the time of publishing its FY 2022 report, the company was looking to expand with a new plant at Bandapuram, Andhra Pradesh with a capacity of 1,75,000 metric tons per annum. 
• The company has invested heavily in the green sector, having multiple projects under its belt for green energy production. It has a 3.2 MW windmill project in Karnataka, a 49.9 percent ownership in Srivathsa Power, a 17.2 MW gas power project in Andhra Pradesh, and a 25.8 percent stake in Patikari Power, a 16 MW hydel power project in Himachal Pradesh.  

Other Listed Aquaculture Companies In India

2. Apex Frozen Food

Another aquaculture company based in Andhra Pradesh, Apex Frozen Food is a producer and exporter of shelved aquaculture products. The company is a small-cap player, having a market cap of ₹615 crores and sales of 914 crores, as of March 2022. From those sales, they netted profits of ₹41 crores that year. 

Similar to Avanti, they produce and export shrimp that is ready to cook. The company started operations in 1995.

3. Waterbase

Established in 1993, Waterbase is a company involved in the manufacture and export of shrimp, crab, fish, and prawn feed. It is a part of the Karam Chand Thapar Group. It was one of the few fully integrated aquaculture companies at the time. Waterbase, with a market cap of ₹255 crores, exports shrimp to Japan, the USA, and Europe. 

4. Coastal Corporation

Coastal Corp is an aquaculture company that ships mainly to Korea, Russia, and China. They have a 40-year history in the industry. They specialize in shrimp processing and export. Coastal Corporation is based out of Vishakapatnam port, and they’re one of the largest shrimp exporters to the USA from the Indian markets.

Although the company is involved in the manufacturing and processing of a single product, it has diverse types of shrimp. 

5. BKV Industries

Formerly known as Bommidala Aquamarine, BKV industries is a fully integrated aquaculture farm located in Nellore, Andhra Pradesh. The farm spans 35 hectares of area and is one of the most successful shrimp farms in the world. Similar to the other companies on our list, it has an industry presence of well over 40 years. 

6. Uniroyal Marine Exports

Founded in Kerala in 1992, Uniroyal Marine is an aquaculture company, operating mainly in the coastal region of Malabar, near Calicut. The company’s plants have the capacity to produce over 13,100 tons of IQF and 4000 tons of block frozen seafood per annum. 

Also Read: List of Gaming Companies Listed In Indian Stock Market!

In Closing

India has an advantage when it comes to the aquaculture and seafood industry. With a lengthy coastline, surrounded by major water bodies on both the eastern and western parts of the country, the industry is expected to boom in the coming future.

These are just some of the aquaculture companies in India, not counting the unorganized and private sector companies in the seafood business. 

Another advantage is the clear waters surrounding the Indian Ocean and the Bay of Bengal, making it an ideal breeding ground for some of the cleanest seafood in the world.

It’s no surprise that some of the clients of India’s seafood industry are located in developed nations such as the USA, China, and Japan, which are one of the biggest markets for seafood. 

The government of India has also launched schemes to support the growth of this industry, as the demand for seafood is expected to grow over time. Investors are expected to thrive from having a stake in this industry.

But to be on the safer side, always remember to do your own research and consult with an expert before making any investment-related decisions. Happy Investing!

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