Waterbase Ltd

₹ 83.2 -0.18%

22 Jul 12:25 p.m.

About

Incorporated in 1993, Waterbase Ltd is in the business of Shrimp Feeds, Shrimp Aquaculture and Shrimp Hatchery^[1]

Key Points

Business Overview:^[1]
WBL is a part of the KCT group. It is a manufacturer and exporter of shrimp feed, prawn feed, and crab & fish processing machinery in India. It 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

Website BSE

Market Cap ₹ 344 Cr.
Current Price ₹ 83.2
High / Low ₹ 105 / 65.0
Stock P/E
Book Value ₹ 41.6
Dividend Yield 0.00 %
ROCE -4.88 %
ROE -5.88 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Debtor days have improved from 66.9 to 45.8 days.

Cons

Company has low interest coverage ratio.
Company has a low return on equity of -2.64% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Miscellaneous Industry: Aquaculture

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	44.95	126.07	75.22	58.93	38.51	79.87	87.91	70.69	65.62	111.23	86.76	73.96	67.31
	47.23	114.23	73.49	59.55	44.43	77.32	85.59	71.20	65.93	107.61	87.37	76.35	71.76
Operating Profit	-2.28	11.84	1.73	-0.62	-5.92	2.55	2.32	-0.51	-0.31	3.62	-0.61	-2.39	-4.45
OPM %	-5.07%	9.39%	2.30%	-1.05%	-15.37%	3.19%	2.64%	-0.72%	-0.47%	3.25%	-0.70%	-3.23%	-6.61%
	1.18	0.67	0.55	0.69	0.69	0.53	0.41	0.42	1.29	1.20	0.61	0.34	0.94
Interest	0.51	0.18	0.20	0.24	0.21	0.18	0.19	0.79	0.95	1.12	0.76	0.51	0.61
Depreciation	1.83	2.12	1.85	1.79	2.70	2.06	2.22	2.34	2.32	2.50	2.50	2.33	2.20
Profit before tax	-3.44	10.21	0.23	-1.96	-8.14	0.84	0.32	-3.22	-2.29	1.20	-3.26	-4.89	-6.32
Tax %	-23.26%	25.47%	30.43%	-23.98%	-23.83%	27.38%	31.25%	-26.09%	-17.03%	24.17%	-25.46%	-14.93%	-24.37%
	-2.64	7.61	0.16	-1.49	-6.20	0.60	0.21	-2.39	-1.91	0.91	-2.43	-4.16	-4.78
EPS in Rs	-0.64	1.84	0.04	-0.36	-1.50	0.14	0.05	-0.58	-0.46	0.22	-0.59	-1.00	-1.15
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	318	207	292	298	339
	286	193	284	294	343
Operating Profit	32	14	7	4	-4
OPM %	10%	7%	2%	1%	-1%
	2	3	3	3	3
Interest	3	1	1	2	3
Depreciation	7	7	8	9	10
Profit before tax	25	8	0	-4	-13
Tax %	26%	27%	76%	-20%	-21%
	18	6	0	-3	-10
EPS in Rs	4.46	1.43	0.02	-0.84	-2.52
Dividend Payout %	0%	70%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	18%
TTM:	14%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-151%

Stock Price CAGR
10 Years:	10%
5 Years:	-4%
3 Years:	-13%
1 Year:	0%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	-3%
Last Year:	-6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	41	41	41	41	41
Reserves	142	149	145	141	131
	12	1	1	39	26
	42	52	40	65	44
Total Liabilities	238	243	227	287	242
	70	66	65	75	72
CWIP	1	0	3	4	2
Investments	0	0	0	0	0
	167	177	159	207	169
Total Assets	238	243	227	287	242

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	44	52	2	-37	7
	-4	-53	28	-15	1
	-20	-10	-5	31	-14
Net Cash Flow	20	-11	25	-21	-7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	85	84	49	106	46
Inventory Days	100	153	98	122	118
Days Payable	33	77	42	74	45
Cash Conversion Cycle	153	159	105	154	119
Working Capital Days	118	112	87	134	106
ROCE %		5%	1%	-1%	-5%

Shareholding Pattern

Numbers in percentages

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	68.85%	68.85%	68.99%	68.99%	68.99%	69.05%	69.05%	69.05%	69.05%	69.05%	69.05%	69.05%
	0.01%	0.09%	0.05%	0.00%	0.07%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%
	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	31.11%	31.05%	30.94%	31.01%	30.95%	30.97%	30.96%	30.96%	30.95%	30.95%	30.96%	30.96%
No. of Shareholders	47,687	41,934	41,428	41,120	40,727	39,247	38,726	38,030	37,028	35,844	36,147	35,299

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	61.01%	63.72%	66.83%	67.12%	68.85%	68.99%	69.05%	69.05%	69.05%
	1.57%	0.88%	0.00%	0.00%	0.00%	0.05%	0.00%	0.00%	0.00%
	0.03%	0.02%	0.02%	0.06%	0.02%	0.00%	0.00%	0.00%	0.01%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%
	37.39%	35.37%	33.15%	32.81%	31.13%	30.94%	30.96%	30.96%	30.96%
No. of Shareholders	26,405	42,461	42,732	43,750	47,223	41,428	38,726	36,147	35,299

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Sep 2022

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Sep 2021

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May 2020

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Feb 2020

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Nov 2019

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Nov 2019

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Aug 2019

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May 2019

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Nov 2018

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May 2018

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Feb 2018

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Aug 2017

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Sep 2016

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Nov 2015

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