The company’s revenue from operations grew at a CAGR of 39.62% over the last three fiscals, from Rs. 603.83 cr in Fiscal 2021 to Rs. 1,177.12 cr in Fiscal 2023. Revenue for Fiscal 2023, Fiscal 2022, Fiscal 2021, and the six months ending September 30, 2023, were Rs. 1177.12 cr, Rs. 770.50 cr, Rs.603.83 cr, and Rs. 606.09 cr, respectively.
As per the company, it has 4 strategically located manufacturing facilities, 3 blending facilities and 5 storage facilities along the western coastline of India. Further, it has 2 manufacturing facilities in Oman, which are located in proximity to the landing sites and fish catchments.
During the Fiscal 2023, Fiscal 2022 and Fiscal 2021, the company served around 84, 46 and 52 customers, respectively and 51 customers during the six months period ended September 30, 2023. As of September 30, 2023, the company has on-going business relationships of more than five years with 19.61% of its total customers who contribute 52.90 % of the revenue from operations.
The company has exported its products to about 10 countries in the preceding 3 Fiscals and 6 (six) months period ending September 30, 2023. It exports its products to countries such as Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan and Vietnam.
The company, along with some of its subsidiaries, promoters, directors, and group companies, is involved in certain legal proceedings. Adverse decisions in these proceedings may have a material impact on the company's business, results of operations, and financial condition.
The company has certain contingent liabilities. If these liabilities materialize, they could have an adverse effect on the company's financial condition.
In FY 2023, the company’s cash flow from operating activities was Rs. (54.39) cr and for the six-month period ending September 30, 2023, it was Rs. (20.12) cr.
As of Sep’2023, the company had unsecured loans of Rs. 54.33 cr which is repayable on demand. Any demand for repayment of such unsecured loans can adversely affect its cash flows.
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