Waterbase Ltd

₹ 73.2 -2.07%

19 Apr - close price

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 ₹ 303 Cr.
Current Price ₹ 73.2
High / Low ₹ 105 / 65.0
Stock P/E
Book Value ₹ 43.8
Dividend Yield 0.00 %
ROCE -1.47 %
ROE -2.28 %
Face Value ₹ 10.0

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Pros

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -2.54% over past five years.
Company has a low return on equity of 0.32% over last 3 years.
Earnings include an other income of Rs.3.44 Cr.
Debtor days have increased from 79.6 to 106 days.

* 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

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	35.92	44.95	126.07	75.22	58.93	38.51	79.87	87.91	70.69	65.62	111.23	86.76	73.96
	35.66	47.22	114.23	73.49	59.54	44.42	77.32	85.59	71.20	65.93	107.61	87.36	76.35
Operating Profit	0.26	-2.27	11.84	1.73	-0.61	-5.91	2.55	2.32	-0.51	-0.31	3.62	-0.60	-2.39
OPM %	0.72%	-5.05%	9.39%	2.30%	-1.04%	-15.35%	3.19%	2.64%	-0.72%	-0.47%	3.25%	-0.69%	-3.23%
	0.74	1.18	0.67	0.55	0.69	0.69	0.53	0.41	0.42	1.29	1.20	0.61	0.34
Interest	0.20	0.51	0.18	0.20	0.24	0.21	0.18	0.19	0.79	0.95	1.12	0.76	0.51
Depreciation	1.76	1.83	2.12	1.85	1.79	2.70	2.06	2.22	2.34	2.32	2.50	2.50	2.33
Profit before tax	-0.96	-3.43	10.21	0.23	-1.95	-8.13	0.84	0.32	-3.22	-2.29	1.20	-3.25	-4.89
Tax %	29.17%	23.32%	25.47%	30.43%	24.10%	23.86%	27.38%	31.25%	26.09%	17.03%	24.17%	25.54%	14.93%
	-0.69	-2.63	7.61	0.16	-1.48	-6.19	0.61	0.22	-2.39	-1.90	0.91	-2.42	-4.15
EPS in Rs	-0.17	-0.63	1.84	0.04	-0.36	-1.49	0.15	0.05	-0.58	-0.46	0.22	-0.58	-1.00
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	97	148	228	278	300	320	339	362	318	207	292	298	338
	87	136	204	247	288	289	281	311	286	193	284	294	337
Operating Profit	10	12	24	31	12	30	58	51	32	14	7	4	0
OPM %	11%	8%	10%	11%	4%	10%	17%	14%	10%	7%	2%	1%	0%
	1	1	1	2	-1	2	2	6	2	3	3	3	3
Interest	2	2	3	1	4	9	4	3	3	1	1	2	3
Depreciation	2	3	2	1	4	5	6	7	7	7	8	9	10
Profit before tax	7	8	20	30	3	18	49	47	25	8	0	-4	-9
Tax %	18%	21%	34%	35%	17%	35%	38%	35%	26%	27%	72%	20%
	6	6	14	20	2	12	30	31	19	6	0	-3	-8
EPS in Rs	1.46	1.56	3.52	5.05	0.56	3.00	7.22	7.45	4.48	1.43	0.02	-0.84	-1.82
Dividend Payout %	0%	0%	0%	30%	89%	33%	21%	20%	0%	70%	0%	0%

Compounded Sales Growth
10 Years:	7%
5 Years:	-3%
3 Years:	-2%
TTM:	22%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	2%

Stock Price CAGR
10 Years:	13%
5 Years:	-14%
3 Years:	-12%
1 Year:	5%

Return on Equity
10 Years:	9%
5 Years:	6%
3 Years:	0%
Last Year:	-2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	26	26	39	39	39	39	41	41	41	41	41	41	41
Reserves	28	35	48	61	75	86	108	132	142	149	145	141	140
	20	30	14	12	53	68	28	28	12	1	1	39	22
	38	42	57	54	41	52	80	48	42	52	40	65	51
Total Liabilities	113	133	158	166	207	245	258	249	238	243	228	287	254
	16	15	15	17	60	62	61	73	70	66	65	75	74
CWIP	0	0	0	1	3	3	9	1	1	0	3	4	2
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
	96	117	143	148	144	180	188	175	167	177	159	207	178
Total Assets	113	133	158	166	207	245	258	249	238	243	228	287	254

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	8	11	3	12	12	-13	55	20	44	52	2	-37
	-1	-1	1	-4	-12	-7	-6	-8	-4	-53	28	-15
	-5	-1	5	-5	-13	-15	-9	-13	-20	-10	-5	31
Net Cash Flow	2	9	8	4	-13	-36	40	-2	20	-11	25	-21

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	129	113	77	75	84	94	97	74	85	84	49	106
Inventory Days	166	116	112	72	60	108	139	131	100	153	98	122
Days Payable	174	116	110	58	37	54	87	39	33	77	42	74
Cash Conversion Cycle	122	114	80	89	107	148	149	165	153	159	105	154
Working Capital Days	148	132	93	85	89	118	101	110	115	112	87	134
ROCE %	12%	12%	24%	30%	7%	15%	29%	27%	14%	5%	1%	-1%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	68.85%	68.85%	68.85%	68.99%	68.99%	68.99%	69.05%	69.05%	69.05%	69.05%	69.05%	69.05%
	0.00%	0.01%	0.09%	0.05%	0.00%	0.07%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%
	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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%
	31.13%	31.11%	31.05%	30.94%	31.01%	30.95%	30.97%	30.96%	30.96%	30.95%	30.95%	30.96%
No. of Shareholders	49,091	47,687	41,934	41,428	41,120	40,727	39,247	38,726	38,030	37,028	35,844	36,147

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

* 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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