The Waterbase Ltd. (TWL), pioneer in the Indian Aquaculture Industry with integrated offerings of hatcheries, shrimp feed and farmcare products supported by shrimp processing capacities, has announced its financial results for the quarter and half year ended September 30, 2019.
Financial Highlights - Q2FY20
- Total Income stood at Rs. 94.4 crores
- PBT of Rs. 9.7 crores
- PAT stood at Rs. 8.9 crores
Commenting on the results, Mr. Ramakanth V. Akula, CEO said, "We have witnessed an improvement in industry dynamics in this phase of the current farming season. Delayed onset of the first phase of the farming season this year, due to extended winter and lower farm gate prices, led to reduced acreage, lower stocking in ponds, and consequently subdued demand for feed. Farm gate prices and sentiments are much improved now.
Farmcare products continued to perform well enjoying growth in volumes due to repeat orders as well as inroads into newer markets. Our Vannamei Hatchery has received an overwhelming response from farmers - this is helping us to further strengthen our market connect. Very importantly, in the feed business, we have rigorously implemented greater credit discipline across our network and while this has impacted the feed volumes this year, it significantly enhances the quality of revenues on a long-term basis.
Global demand for shrimp remains robust and India is favorably placed as a supplier with potential for growth and value-addition. As a niche player, we are confident that our brand salience, improved national presence, better credit discipline and strengthened business model with multiple revenue streams, positions us very strongly to create significant value for shareholders."
Shares of WATERBASE LTD. was last trading in BSE at Rs.122.35 as compared to the previous close of Rs. 130.2. The total number of shares traded during the day was 32554 in over 618 trades.
The stock hit an intraday high of Rs. 130.6 and intraday low of 121.4. The net turnover during the day was Rs. 4060573.