Q2 Results – The Waterbase Ltd – Press Release 2017
Q2FY18 – INVESTOR COMMUNICATION
The Waterbase Limited announces Q2 FY18 Results
- Strong demand trends have led to robust growth in feed volumes – performance supported by new markets and new products
- Measures to enhance business efficiencies and optimise costs supported by favourable trends in raw material prices have propelled the Company to its highest ever PAT
Financial Highlights–Q2&H1 – FY18
Chennai, November14, 2017:The Waterbase Ltd. (TWL),pioneer in the Indian Aquaculture Industry with a focus on driving improvement in shrimp feed manufacturing, farm practices and shrimp processing has announced its financial results for the quarter and half year ended September30, 2017.
Commenting on the results, Mr. Ramakanth V. Akula, CEOsaid, “
We are pleased to report that the initiatives undertaken in earlier years to strengthen the brand, enter new markets and introduce product innovations have yielded favourable results as the Company is on course to deliver in FY18its highest ever PAT. This performance is driven by strong volume growth in the core business of shrimp feeds where we have benefited from the improved distribution network. The R&D and innovation led enhancements to our product portfolio and the introduction of ancillary products have helped us maintainmarket share across existing markets while making inroads into newer markets.
In addition to robust growth in topline, profitability has been supported by favourable prices of key raw materials as well as enhanced operational efficiencies and cost optimization initiatives, resulting in significant margin accretion. This has been accompanied by an exceptionally strong response to our range of farm care products under the brand ‘Baylife’, which were introduced in the current year.
The outlook for growth remains exciting given the strong momentum in the core business of shrimp feed, the plan to widen offerings in farmcare products and the impending scale up of verticals such as hatchery and shrimp exports. The combination of these initiatives will enable us to deliver a stable and consistent performance going forward.
We are pleased to announce that the National Company Law Tribunal (NCLT), Hyderabad, has sanctioned the Scheme of Amalgamation of Pinnae Feeds Limited with the Companyby its order pronounced today i.e. November 14, 2017.
About The Waterbase Limited:
Registered Office: Ananthapuram Village, Nellore – 524 344, Andhra Pradesh
The Waterbase Ltd. (TWL) is one of India’s leading aquaculture companies. The Company is currently focused on manufacture of shrimp feed and processing of shrimp for export.TWL operates an ISO 9001:2008 Certified Shrimp Feed Mill which is located near Nellore in Andhra Pradesh. Its processing plant is located in the same facility and is FDA and BAP approved, EU Listed and HACCP Certified.
Promoted by the Karam Chand Thapar Group, TWL owns several popular brands of shrimp feed that are of high quality, freshness, appropriate calorific value and rich in nutrients. Its shrimp feed brands enjoy strong acceptance in the shrimp farming community in India. Its processed shrimp is marketed across Europe, Japan, Asia and the USA.
Over the last two decades, the Company has played a key role in spreading scientific shrimp farming in India and has provided training and support in farming techniques to several thousands of farmers across the Country. The Company’s R&D efforts are focused on enhancing the quality and efficiency of feeds to meet differing farming requirements of aqua culturists.
TWL is listed on the Bombay Stock Exchange of India.
For more information about us, please visitwww.waterbaseindia.com or contact:
|Mr. G. Venkatram (CS & CO)The WaterbaseLimited
Tel: +044 2811 3682 Extn. 202
|MayankVaswani/ Suraj DigawalekarCDR India
Tel: +91 22 6645 1230 / 35
The information in this release has been included in good faith and is for general purposes only. It should not be relied upon for any specific purpose and no representation or warranty is given as regards to its accuracy or completeness. No information in this press release shall constitute an invitation to invest in The Waterbase India Limited or any of its affiliates. Neither The Waterbase India Limited nor their or their affiliates’ officers, employees or agents shall be liable for any loss, damage or expense arising out of any action taken on the basis of this release, including, without limitation, any loss of profit, indirect, incidental or consequential loss.