In an interview to CNBC-TV18, Ramakanth Akula, CEO of Waterbase gave an update on the amalgamation with Pinnae Seeds which is a part of their group company. He also shared his outlook for the business going forward.
Waterbase Limited is a leading manufacturer of high-quality shrimp feed in India. The company also processes shrimp in IQF, Block Frozen and Cooked form from its own captive farms, and exports its produce to global markets, predominantly Japan, Europe and the United States. The company’s processing plant is FDA listed and EU approved, and processing is done as per HACCP guidelines.
Amalgamation with Pinnae Seeds will lead to increase in capacity. The current capacity for the company stands at 35,000 tonnes which would go up to 1,10,000 tonnes post-amalgamation, said Akula.
Moreover, the capacity utilisation which is around 50 percent is also expected to go up, he said
The company is also hopeful of moving back to double-digit EBITDA margins going forward, on back of lower raw material prices, he said.
Over 90 percent of revenues comes from the shrimp feed business but going forward expect the new shrimp processing and export business to also start contributing towards revenues, said Akula, adding that the company also plans to get into new verticals like farm input segment.
For entire interview, watch accompanying video.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
