Waterbase Limited returned to profitability in the first quarter of FY27, reporting a consolidated net profit of ₹1.19 crore compared to a net loss of ₹3.29 crore in Q1 FY26. The company’s revenue from operations rose 39% year-on-year to ₹121.49 crore, driven by improved performance in its shrimp feed segment and the resumption of exports to the United States following an easing of tariff barriers. This turnaround marks a significant shift from the previous financial year, where the company posted a consolidated loss of ₹14.66 crore.

The Board of Directors approved the unaudited standalone and consolidated financial results on August 11, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Deloitte Haskins & Sells LLP, the statutory auditors, issued an unmodified review report on the interim financial information. Additionally, the Board appointed Ms. Nitasha Thapar as a director retiring by rotation under Section 152(6) of the Companies Act, 2013.

Financial Performance Overview

The company’s total income stood at ₹122.70 crore for the quarter, up from ₹88.13 crore in the corresponding period last year. Other income contributed ₹12.02 crore, which included a ₹90.52 lakh reversal of provisions for doubtful trade receivables realized during the period. Profit before tax reached ₹1.52 crore, a stark contrast to the ₹4.45 crore loss recorded in Q1 FY26.

On a standalone basis, the company reported a net profit of ₹33.32 lakh, reversing a loss of ₹11.59 lakh in the prior year. Earnings per share (basic) were ₹0.29, compared to a loss of ₹0.79 per share in Q1 FY26.

Segment-wise Analysis

The Shrimp Feeds segment was the primary growth engine, with revenue jumping 61.9% to ₹54.56 crore from ₹33.69 crore in Q1 FY26. This segment also turned profitable, contributing ₹56.52 lakh to the bottom line, whereas it had reported a loss of ₹17.46 lakh in the same period last year.

The Processed Shrimp segment saw revenue increase 32.3% to ₹63.76 crore from ₹48.19 crore. However, this segment continued to operate at a loss of ₹23.70 lakh, though this was an improvement over the ₹53.68 lakh loss recorded in Q1 FY26. The 'Others' segment, comprising Hatchery & Frozen Foods, reported minimal revenue of ₹3.17 crore.

What the Numbers Show

The return to profitability is largely attributable to operational leverage in the high-margin Shrimp Feeds business rather than broad-based margin expansion across all segments. While the Processed Shrimp segment grew significantly in revenue, it remains loss-making, indicating that the current profit turnaround is concentrated in the feed division. Furthermore, the inclusion of a ₹90.52 lakh provision reversal in other income suggests that the reported net profit includes non-operational gains, warranting caution when assessing sustainable operational cash flows.

Managing Director Ramakanth V Akula noted that while performance was encouraging, the company faces headwinds from rising raw material costs, particularly fishmeal and soybean meal. He highlighted that the easing of tariff situations has enabled the commencement of exports to the US market, a development the company aims to leverage prudently. The company cautioned that due to the seasonal nature of the aquaculture industry, quarterly results may not be indicative of annual performance.

Waterbase Ltd will hold an analyst and institutional investor meeting with QRC Investment Advisors LLP on July 6, 2026, in Mumbai. The meeting, classified as a general discussion, is intended to provide insights into the company's operations and strategy to institutional investors.

The company will be represented by its senior management team, including Mr Ramakanth V Akula, Managing Director, Mr Chola Varma Alluri, Chief Executive Officer, and R Sureshkumar, Chief Financial Officer. The meeting is scheduled to take place in Mumbai, though the venue details remain subject to change.

Meeting Details

The intimation regarding the meeting has been submitted to BSE Limited under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure is also available on the company's official website.