Produces aquaculture and poultry feed and processes shrimp for export. Operates 143 feed plants, 33 hatcheries and 7 processing facilities, with shrimp processing capacity of 2,379 metric tonnes. The shrimp business sells into export markets at an average realised price of Rs. 515.03 per kg. Materials account for 86.6% of revenue, reflecting the commodity nature of feed ingredients and raw shrimp. Employee costs run at 2.2% of revenue and depreciation at 0.8%, indicating a working-capital-heavy rather than capital-heavy cost structure. FY26 revenue stood at Rs. 667.51 crore with net profit of Rs. 14.11 crore. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Aquaculture and poultry feed, Shrimp processing and export. Working-capital-heavy aquaculture feed and seafood processing
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 345 | 363 | 398 | 511 | 668 |
| EBITDA (ex other income) | 16 | 19 | 21 | 33 | 28 |
| margin % | 4.5 | 5.2 | 5.3 | 6.4 | 4.1 |
| Owners' profit | 6 | 7 | 8 | 10 | 14 |
| EPS, as reported (₹) | 0.46 | 0.56 | 0.66 | 0.80 | 1.12 |
| ROE % · ROCE % | 9.0 · 17.3 | 10.0 · 21.7 | 10.5 · 21.3 | 11.3 · 32.8 | 13.7 · 33.8 |
| Debt / equity (x) | 1.99 | 1.93 | 1.90 | 1.93 | 1.80 |
| Cash from operations | 1 | 22 | 25 | 35 | 36 |
| Capex | (3) | (2) | (11) | (3) | (6) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 87 | 152 | 169 | 97 | 124 | 185 | 222 | 137 |
| Profit before tax | 1 | 2 | 6 | 5 | 2 | 5 | 10 | 3 |
| Net profit | 1 | 2 | 6 | 5 | 2 | 3 | 8 | 2 |
| EPS (₹) | 0.07 | 0.37 | 0.50 | 0.43 | 0.12 | 0.24 | 0.60 | 0.16 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| APEX FROZEN FOODS LIMITED | 1,150 | 22.4 | 2.18 | — | 7.4 | 9.8 | — | 12.9 |
| SHARAT INDUSTRIES LTD. | 646 | 40.4 | 4.18 | 19.3 | 10.3 | 11.8 | — | 3.6 |
| COASTAL CORPORATION LTD | 264 | 6.7 | 0.93 | 8.4 | 9.4 | 8.3 | 15.4 | 11.5 |
| KINGS INFRA VENTURES LIMITED | 207 | 14.2 | 2.40 | 9.0 | 18.5 | 18.3 | — | 16.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Newspaper publication of 18th AGM notice for September 30, 2026 meeting | compliance | minimal | — | — |
| 8 Sept 2026 · Zeal Aqua 18th AGM on Sep 30 2026 via VC; Annual Report FY26 available online | compliance | minimal | — | — |
| 8 Sept 2026 · Annual Report FY25-26 with 18th AGM Notice on September 30, 2026 | compliance | medium | — | — |
| 8 Sept 2026 · Revised notice of 18th AGM with director pay revisions | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Notice of 18th AGM on Sep 30, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Zeal Aqua re-appoints Dhaval Patel as Whole-time Director for 3 years | management changes | medium | — | — |
| 7 Sept 2026 · Revised intimation for re-appointment of Whole-time Director | management changes | medium | — | — |
| 7 Sept 2026 · Corrigendum to Board Meeting outcome of 05 Sep 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Zeal Aqua appoints Manish Patel as Secretarial Auditor for 5 years | management changes | medium | — | — |
| 5 Sept 2026 · Board approves continuation of WTD Shantilal Patel beyond age 70 | management changes | medium | — | — |
| 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 |
| WATERBASE LTD. |
| 194 |
| 13.2 |
| 1.38 |
| — |
| (10.4) |
| (13.5) |
| 10.6 |
| (1.3) |
| Zeal Aqua Limited ◆ | 141 | 10.0 | 1.36 | — | 13.7 | 16.2 | — | 6.6 |
| ESSEX MARINE LIMITED | 80 | 11.3 | — | — | — | 15.7 | — | — |
| NCC BLUE WATER PRODUCTS LTD. | 18 | 6.4 | 1.25 | — | 19.5 | 23.1 | — | — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.0 | 11.3 | 4 of 9 | 63% |
| P/B | 1.4 | 1.8 | 3 of 8 | 71% |
| ROCE | 16.2 | 12.3 | 3 of 9 | 75% |
| ROE | 13.7 | 12.0 | 4 of 8 | 57% |
| Debt / Equity | 1.8 | 0.9 | 7 of 8 | 14% |
| EBITDA margin | 6.6 | 6.6 | 4 of 7 | 50% |
| Revenue growth | 41.2 | 3.9 | 1 of 7 | 100% |
| Profit growth | (62.4) | (0.2) | 6 of 8 | 29% |
| Market cap | 141 | 194 | 6 of 9 | 38% |
| 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 |
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.
