38th Annual Report for the Financial Year 2024-25
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Waterbase Limited has submitted its 38th Annual Report for FY 2024-25, approved at the AGM held on September 25, 2025 via video conferencing. The company, part of the Karam Chand Thapar (KCT) Group, operates an integrated aquaculture business spanning shrimp feed, farm care, processing, and exports. Total income fell to Rs. 28,293 lakhs from Rs. 34,227 lakhs in FY24, with shrimp feed contributing Rs. 13,442 lakhs and processed shrimp Rs. 13,390 lakhs. The company reported a net loss of Rs. 1,815 lakhs (worse than Rs. 1,043 lakhs loss in FY24), with most losses coming from the processing segment due to global oversupply and weak prices. Despite a positive profit before tax of Rs. 2,389 lakhs, higher depreciation, interest, and tax expenses pushed the bottom line into the red. Net worth has declined steadily from Rs. 190.1 Cr in FY21 to Rs. 155.3 Cr in FY25.
Shareholders should note continued profitability challenges, with widening net losses and declining net worth over the past five years, though management cites stabilising export prices and capacity upgrades as positive signs for FY26.