Zeal Aqua Ltd - Stock Valuation and Financial Performance

The company was incorporated as ‘Zeal Aqua Private Limited’ at Surat under the provision of the Companies Act, 1956 vide certificate of incorporation dated March 6, 2009 issued by the Assistant Registrar of Companies, Gujarat, Dadra and Nagar Haveli. Consequent upon the conversion of the company to public limited company, the name of the company was changed to ‘Zeal Aqua Limited’ and fresh certificate of incorporation dated March 31, 2015 was issued by the Assistant Registrar of Companies, Ahmedabad.

The company’s promoters who were individually engaged in culturing shrimps joined hands in 2009 and incorporated the company ‘Zeal Aqua Private Limited’ to make the business scalable and reap the benefits of synergy. In addition, the introduction of schemes of Government to allot coastal lands for aquaculture purposes to promote this industry and generate a source of revenue for farmers motivated its promoters to have a vision to develop an advanced, sustained and fully integrated aquaculture system in Surat and also across India.

After establishing the strong foothold in the shrimp farming and satellite farming activities, as a part of forward integration the company is in process of setting up shrimp processing unit for their shrimp including cold storage and primarily to manufacture Individually quick frozen (IQF) shrimp products for which the company had already purchased land admeasuring area of 35076 sq meters and 14569 sq meter land on lease basis at Village Orma, Olpad, Surat. In order to achieve its object of enhancing productivity, quality and minimize environmental degradation the company has taken various measures such as introduction of PE Line Ponds, use of qualitative feeds, bio-security measures such as fencing and water management among others.

Business area of the company

The company has around 160 ponds spread over village Mor, Delasa, Mandorai, Katpore, Nesh, Dandi, Olpad, Orma, Bhagwa, Kantyajal, etc admeasuring area of around 200 hectares of land wherein the land on which ponds are constructed for cultivation of shrimp by the company is in accordance with collaboration agreements with various parities. The company is also engaged in satellite farming whereby it supplies inputs i.e shrimp feeds, shrimp seeds, probiotics and other aquaculture related products etc on credit to small farmers and buys shrimps from these farmers. The company has approx 1050 satellite farms. It deploys its specific quality control measures and the farmers under satellite farming are required to adhere to its farming standards. The satellite farming enables companies to scale up and multiply its production without putting up physical infrastructure on its own. This flexible model of shrimp production helps the company to efficiently manage growing demand of shrimps.