WATERBASE
Waterbase financials
- Market cap
- ₹193 Cr
- Sector
- Fast Moving Consumer Goods
What Waterbase Limited does
The Waterbase Limited is an integrated aquaculture company that manufactures scientifically formulated shrimp feed (brands Bay White, Vanamax, Tiger Bay XL) at its ISO 9001-certified feed mill, and makes farm-care/animal-health products (Baymin, VC-9, Whitekure, Oxylyf, Nutri Pond) for shrimp farmers. It also runs a Vannamei shrimp hatchery and an FDA-listed, EU-approved, HACCP-compliant processing plant at Nellore that freezes and exports IQF, block-frozen and cooked shrimp to Japan, Europe, the U.S. and China. Domestically it supplies feed, health-care and farm-care products to shrimp farmers across Andhra Pradesh, Gujarat, Maharashtra, Goa and Tamil Nadu, and reports its business across two operating segments: Shrimp Feeds and Processed Shrimp.
Segments
- Shrimp Feeds
- Processed Shrimp
- Feed mill installed capacity
- 1,00,000 MT/annum (ISO 9001 certified)
- Employees
- 226 officers and workmen
- Shrimp processing plant
- 1 facility at Nellore (FDA-listed, EU-approved, HACCP-compliant)
- Hatchery capacity
- 1 hatchery, ~250 Mn post-larvae
- Operating segments
- 2 (Shrimp Feeds, Processed Shrimp)
- Domestic distribution footprint
- 5 states — Andhra Pradesh, Gujarat, Maharashtra, Goa, Tamil Nadu
Quarterly results
Q1 FY27: revenue up 39.4%, net profit up 136.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 62 | 67 | 76 | 87 | 82 +32% | 102 +52% | 79 +4% | 121 +39% |
| EBITDA | -4 | -3 | -5 | -3 | -5 −7% | -1 +63% | -2 +67% | 3 +224% |
| Net profit | -2 | -4 | -5 | -3 | -5 −119% | -3 +33% | -3 +39% | 1 +136% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −37.9% 1Y
1Y: ₹74.9 on 25 Oct 2023 → ₹46.54. High ₹74.9 (25 Oct 2023), low ₹46.32 (18 Aug 2026).
Financials, as filed
Revenue grew 4.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to -2.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹304 Cr | ₹339 Cr | ₹278 Cr | ₹350 Cr |
| Operating profit | ₹4 Cr | ₹-4 Cr | ₹-18 Cr | ₹-10 Cr |
| Operating margin | 1.3% | -1.1% | -6.6% | -2.9% |
| Interest | ₹2 Cr | ₹3 Cr | ₹3 Cr | ₹5 Cr |
| Depreciation | ₹9 Cr | ₹10 Cr | ₹8 Cr | ₹7 Cr |
| Net profit | ₹-3 Cr | ₹-10 Cr | ₹-18 Cr | ₹-15 Cr |
| Net margin | -1.1% | -3.1% | -6.5% | -4.2% |
| Cash from operations | ₹-37 Cr | ₹7 Cr | ₹-13 Cr | ₹-5 Cr |
| Free cash flow | ₹-54 Cr | ₹1 Cr | ₹-21 Cr | ₹-13 Cr |
| ROCE | -1.0% | -5.0% | -11.0% | -7.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹41 Cr | ₹41 Cr | ₹41 Cr | ₹41 Cr | ₹41 Cr | ₹41 Cr |
| Reserves | ₹149 Cr | ₹145 Cr | ₹141 Cr | ₹131 Cr | ₹105 Cr | ₹100 Cr |
| Borrowings | ₹1 Cr | ₹1 Cr | ₹39 Cr | ₹26 Cr | ₹50 Cr | ₹59 Cr |
| Other liabilities | ₹52 Cr | ₹40 Cr | ₹65 Cr | ₹44 Cr | ₹60 Cr | ₹51 Cr |
| Total liabilities | ₹243 Cr | ₹228 Cr | ₹287 Cr | ₹243 Cr | ₹256 Cr | ₹251 Cr |
| Fixed assets | ₹66 Cr | ₹65 Cr | ₹75 Cr | ₹72 Cr | ₹72 Cr | ₹74 Cr |
| Capital work in progress | ₹0 Cr | ₹3 Cr | ₹4 Cr | ₹2 Cr | ₹2 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹177 Cr | ₹159 Cr | ₹207 Cr | ₹169 Cr | ₹182 Cr | ₹176 Cr |
| Total assets | ₹243 Cr | ₹228 Cr | ₹287 Cr | ₹243 Cr | ₹256 Cr | ₹251 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 5% to 32,860.
- Promoters
- 69.0%
- Public
- 31.0%
Since Jun 2025
- Public +0.02 pp
- Promoters 0.00 pp
- DIIs 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 69.0%, Public 30.9%.Dec '23: Promoters 69.0%, Public 30.9%.Mar '24: Promoters 69.0%, Public 31.0%.Jun '24: Promoters 69.0%, DIIs 0.0%, Public 31.0%.Sep '24: Promoters 69.0%, Public 31.0%.Dec '24: Promoters 69.0%, Public 31.0%.Mar '25: Promoters 69.0%, Public 30.9%.Jun '25: Promoters 69.0%, Public 30.9%.Sep '25: Promoters 69.0%, Public 30.9%.Dec '25: Promoters 69.0%, Government 0.1%, Public 30.8%.Mar '26: Promoters 69.0%, Public 31.0%.Jun '26: Promoters 69.0%, Public 31.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Waterbase Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| NAV Srijit Shakti Telangana Private Limited | 52.95% | unchanged |
| Karam Chand Thapar And Bros Coal Sales Limited | 7.83% | unchanged |
| Kct Financial & Management Services Private Limited | 7.30% | unchanged |
| Investor Education and Protection Fund (IEPF) | 2.51% | unchanged |
| Varun Aditya Thapar | 0.41% | unchanged |
| Jyoti Thapar | 0.18% | unchanged |
| Vikramaditya Mohan Thapar | 0.13% | unchanged |
| Nitasha Thapar | 0.13% | unchanged |
| Ayesha Thapar | 0.13% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Waterbase Limited
Guides on how to read this kind of business and the numbers that matter.