BSE: 530215
KINGS INFRA VENTURES LIMITED
Processes and exports farmed seafood, with the entire operating revenue coming from the Aquaculture (Export Facilities) segment (Infrastructure segment reported zero revenue and zero EBIT in FY26). FY26 revenue was ₹160.84 crore, of which the named 'Aquaculture (Export Facilities)' reporting line captured ₹46.57 crore across the quarterly trend, with the broader seafood business making up the balance. The business is described by management as a fully integrated seafood platform spanning farms, processing, retail and global distribution. Farmed output is sold to overseas buyers including LX Corporation, CP Foods and Minh Phu Seafoods, with stated end-markets in Europe, Southeast Asia and the GCC; management notes it is largely insulated from US tariff noise because it does not focus on the US. The operating cost base is dominated by materials at 81.5% of revenue, with employee costs at 1.0% and other operating expenses at 3.1%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Aquaculture (Export Facilities) (100%), Infrastructure (0%). Asset-light scaling seafood exporter with an integrated farms-to-distribution value chain
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 61 | 90 | 124 | 161 |
| EBITDA (ex other income) | 10 | 14 | 23 | 30 |
| margin % | 16.8 | 15.7 | 18.9 | 18.4 |
| Owners' profit | 6 | 8 | 13 | 16 |
| EPS, as reported (₹) | 2.43 | 3.22 | 5.31 | 6.59 |
| ROE % · ROCE % | 15.9 · 21.7 | 13.1 · 19.4 | 18.3 · 27.4 | 18.5 · 24.2 |
| Debt / equity (x) | 0.52 | 0.65 | 0.85 | 0.91 |
| Cash from operations | (2) | (4) | (4) | 8 |
| Capex | (0) | (1) | (12) | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 30 | 33 | 32 | 34 | 43 | 37 | 47 | 30 |
| Profit before tax | 4 | 5 | 4 | 5 | 6 | 4 | 7 | 3 |
| Net profit | 2 | 4 | 3 | 3 | 4 | 3 | 5 | 2 |
| EPS (₹) | 1.42 | 1.60 | 1.11 | 1.45 | 1.73 | 1.25 | 2.11 | 0.88 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Aquaculture | 47 | 29.0 |
| Aquaculture(Export Facilities) | 37 | 23.0 |
| Aquacultutre (Export Facilities) | 43 | 26.8 |
| Acquaculture (Export facilities) | 34 | 21.2 |
| Total, before eliminations | 161 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| APEX FROZEN FOODS LIMITED | 1,027 | 20.0 | 1.95 | — | 7.4 | 9.8 | — | 12.9 |
| SHARAT INDUSTRIES LTD. | 623 | 39.0 | 4.03 | 18.8 | 10.3 | 11.8 | — | 3.6 |
| COASTAL CORPORATION LTD | 230 | 5.8 | 0.81 | 8.0 | 9.4 | 8.3 | 15.4 | 11.5 |
| WATERBASE LTD. | 182 | — | 1.29 | — | (10.4) | (13.5) | 10.6 | (1.3) |
| KINGS INFRA VENTURES LIMITED ◆ | 153 | 10.5 | 1.77 | 7.2 | 18.5 | 18.3 | — | 16.8 |
| Zeal Aqua Limited | 131 | 9.3 | 1.27 | — | 13.7 | 16.2 | — | 6.6 |
| ESSEX MARINE LIMITED | 76 | 10.8 | — | — | — | 15.7 | — | — |
| NCC BLUE WATER PRODUCTS LTD. | 20 | 7.1 | 1.39 | — | 19.5 | 23.1 | — | — |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.5 | 10.5 | 4 of 7 | 50% |
| P/B | 1.8 | 1.6 | 5 of 8 | 43% |
| ROCE | 18.3 | 12.3 | 2 of 9 | 88% |
| ROE | 18.5 | 12.0 | 3 of 8 | 71% |
| Debt / Equity | 0.9 | 0.9 | 5 of 8 | 43% |
| EBITDA margin | 16.8 | 6.6 | 1 of 7 | 100% |
| Revenue growth | (10.8) | 3.9 | 6 of 7 | 17% |
| Profit growth | (38.2) | (0.2) | 5 of 8 | 43% |
| Market cap | 153 | 153 | 5 of 9 | 50% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Credit rating downgraded to IVR B Negative; issuer not cooperating | credit debt | medium | — | — |
| 29 Sept 2026 · Kings Infra Ventures AGM 2026: All 6 resolutions passed by shareholders | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · Kings Infra 38th AGM: six resolutions passed, strong FY25-26 results noted | board shareholder meetings | medium | — | — |
| 25 Sept 2026 · Kings Infra Ventures appoints Akhil Haridas as new Chief Financial Officer | management changes | high | — | — |
| 25 Sept 2026 · Kings Infra CFO resigns; Akhil Haridas appointed as new CFO | management changes | high | — | — |
| 23 Sept 2026 · Trading Window closure from Oct 1, 2026 ahead of H2 results | compliance | minimal | — | — |
| 22 Sept 2026 · Board meeting on Sept 25 to consider appointment of Chief Financial Officer | management changes | medium | — | — |
| 19 Sept 2026 · Promoter shares transmitted from deceased to legal heir, no change in holding | ownership changes | low | — | — |
| 18 Sept 2026 · Allotted 21st tranche of secured NCDs worth Rs 92.2 lakh via private placement | fund raising | medium | — | — |
| 15 Sept 2026 · CFO Lalbert Cherian resigns effective 15 Oct 2026 citing health reasons | management changes | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.