Unaudited Standalone and Consolidated Financial Results for the Quarter Ended December 31, 2025
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Waterbase Ltd reported total income of Rs. 102.1 crores for Q3 FY26, up about 52% year-on-year from Rs. 66.9 crores in Q3 FY25, driven mainly by strong growth in the processed shrimp export segment (Rs. 71.4 crores vs Rs. 36.7 crores YoY). However, the shrimp feed segment continued to decline (Rs. 24.4 crores vs Rs. 26.8 crores YoY) due to lingering effects of disease outbreaks and weather disruptions. The company reported a narrower loss before tax of Rs. 3.6 crores (vs Rs. 5.3 crores loss in Q3 FY25) and a loss after tax of Rs. 6.3 crores. For 9M FY26, total income rose to Rs. 272.2 crores from Rs. 201.3 crores, but losses persisted. Deloitte Haskins & Sells LLP issued an unmodified review opinion on the results. Separately, effective April 1, 2026, Mr. Ramakanth V. Akula will move from Whole-Time Director & CEO to Managing Director, while current COO Mr. Chola Varma Alluri will be elevated to CEO, as part of a planned leadership realignment.
The strong top-line growth from processed shrimp exports is encouraging and the narrowing of quarterly losses signals operational improvement, but the company remains loss-making at the bottom line. The leadership restructuring and improved US-India trade visibility could support a gradual recovery, though shareholders should note continued losses in the core feed segment and the seasonal nature of the aquaculture business, which makes quarterly results not fully indicative of annual performance.