Transcript of Earnings Call held on Monday, 01st June 2026
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Sharat Industries, an aquaculture company in shrimp feed, farming and processing, reported FY26 revenue of Rs. 524.7 crore, up about 38% YoY, with profit after tax rising nearly 60% to Rs. 15.90 crore and EBITDA up around 26% to Rs. 36.03 crore. Q4 revenue grew roughly 25% YoY to Rs. 117.24 crore, though profitability was dented by Middle East conflict disruptions (about 20 containers affected, half rerouted) and sharp increases in fishmeal and soya raw material costs. Positive tailwinds include US tariff reduction from 50% to 10% effective February 2026, the India-EU FTA opening up Europe, and new client wins in Russia (2 clients) and China (5 clients for black tiger shrimp). Management set a medium-term target of Rs. 1,000 crore in annual export revenues by FY27-28, driven by EU re-entry, deeper Russia/China penetration, and a domestic push including new sales to Hyperpure.
Strong full-year results despite Q4 disruptions signal resilient demand and effective geographic diversification, likely supportive for the stock. However, near-term margins remain exposed to volatile raw material prices and geopolitical risk, so investors should watch Q1 FY27 commentary on feed costs and US demand normalization.