Financial Results For The Year Ended 31st March 2025.
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Waterbase Ltd, an Indian aquaculture company, reported weaker FY25 results. Total income fell to Rs. 283 crore from Rs. 342 crore last year, an 18% decline, driven mainly by a sharp drop in shrimp feed sales (Rs. 131 crore vs Rs. 203 crore in FY24). The company posted a net loss of Rs. 18.2 crore for FY25, wider than the Rs. 10.4 crore loss in FY24. Both reportable segments turned loss-making, with processed shrimp losing Rs. 16.1 crore and shrimp feeds losing Rs. 5.4 crore. Operating cash flow turned negative at minus Rs. 12.5 crore, and short-term borrowings jumped nearly 69% to Rs. 43.8 crore. Other income included a one-time Rs. 3.5 crore reversal of an old doubtful-debt provision. The Q4 loss stood at Rs. 5.4 crore, with EPS at negative Rs. 4.38 for the year. Auditor Deloitte Haskins & Sells gave an unmodified (clean) opinion.
Shareholders face a deeper full-year loss, shrinking equity base (down to Rs. 114 crore from Rs. 131 crore), rising debt, and cash burn from operations, which are near-term negatives. Management cited cash-and-carry policy, weather, disease outbreaks, and weak US export pricing as temporary factors, so any near-term recovery hinges on shrimp feed volumes bouncing back and export tariffs being resolved.