Investor Presentation
SHINDL · price
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Sharat Industries, India's oldest integrated aquaculture company and a leading shrimp exporter, shared its Q2 & H1 FY26 results through an investor presentation. Revenue grew ~30% YoY in Q2 FY26 to ₹119.43 Cr and ~39% in H1 FY26 to ₹264.93 Cr, already reaching 69% of FY25's full-year revenue of ₹380.53 Cr. H1 FY26 EBITDA margin held steady at 8.75% and PAT margin improved to 4.19% from 3.56%. Export mix is now led by Russia (59%), USA (23%) and China (15%), with the company launching merchant export operations in Gujarat in August 2025 and reintroducing premium Black Tiger shrimp. Management has set an export revenue target of ₹1,000 Cr by FY28 and aims to lift plant utilization from 55% to ~90%.
Strong revenue momentum and a clear multi-year growth roadmap (₹1,000 Cr export target by FY28, margin expansion via plant utilization) are positive signals for shareholders. However, Q2 standalone EBITDA margin dipped sharply to 4.66%, which investors should monitor. Stock has nearly doubled over the past year, reflecting optimism around the expansion plans.