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Waterbase Ltd (WATERBASE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523660 NSE: WATERBASE Aquaculture | Small Cap | Waterbase Share Price

₹44.51 0.40 (0.91%)

As on 12-Oct'26 16:59

Waterbase Ltd (WATERBASE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523660 NSE: WATERBASE Aquaculture | Small Cap | Waterbase Share Price

₹44.51 0.40 (0.91%)

As on 12-Oct'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹184 Cr.
Current Price
₹44.5
52-Week Low / High
₹38 / 68
TTM EPS
₹-2.5
TTM Sales
₹384 Cr.
Book Value per Share
₹34.4
P/E Ratio
0.00
Industry PE
18.3
Price to Book (P/B)
1.30
Lower than its 5-year historical median
Price to Sales (P/S)
0.48
Lower than its 5-year historical median
EV/EBITDA
-166.74
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-9.90%
Underperforms industry median
Return on Capital Employed (ROCE)
-7.35%
Underperforms industry median
Return on Assets (ROA)
-4.84%
Operating Profit Margin
-2.7%
Net Profit Margin
-4.19%
Gross Profit Margin
-3.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
25.94%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
69.04%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹101 Cr.
Equity
₹41.4 Cr.
Face Value
₹10
All Time Low / High
₹1.84 / 417.50

Waterbase stock performance

Key Ratios
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Quality

Not Good
Check detailed performance

Valuation

Undervalued

Check Valuation charts

Price Trend

Weak
Check Price chart
Q.1 Is Waterbase Ltd a good quality company?
Waterbase Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

View More
How does Waterbase Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Waterbase Ltd vs industry peers?
Waterbase Ltd revenue CAGR is 10.58%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Waterbase Ltd?
Promoters hold 69.04% of the Waterbase Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Waterbase Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -8.2% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Waterbase Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ17.6%28.6%26.7%13.9%5%0.6%-1.1%-4.9%-10.6%-7.4%-
Value Creation
Index ⓘ		0.31.00.90.0-0.7-1.0-1.1-1.4-1.8-1.5-

Growth Parameters ⓘ
Sales ⓘ322343365322212299304339278350384
Sales YoY Gr.-6.5%6.6%-11.8%-34.4%41.2%1.8%11.6%-18.1%25.9%-
Adj EPS ⓘ37.26.94.51.40.1-0.9-2.5-4.4-3.4-2.5
YoY Gr.-141.5%-4.3%-35.2%-69%-95%-1371.4%NANANA-
BVPS (₹) ⓘ31.536.141.844.445.944.944.141.737.534.134.4
Adj Net
Profit ⓘ		11.629.928.618.65.70.3-3.7-10.4-18.3-14.3-10
Cash Flow from Ops. ⓘ-13.154.619.843.851.92.3-36.66.7-12.5-5.2-
Debt/CF from Ops. ⓘ-5.20.51.40.300-13.9-3.5-11.4-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ0.9%10.6%4.8%25.9%
Adj EPS ⓘ-201.6%-219.9%NANA
BVPSⓘ0.9%-5.8%-8.2%-9.1%
Share Price -8.2% -17.9% -17.6% -5.7%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		10.321.817.810.43.10.2-2-5.8-11.2-9.6-7.2
Op. Profit
Mgn % ⓘ		9.516.814.2106.70.31.4-1.2-6.6-2.7-1.1
Net Profit
Mgn % ⓘ		3.68.77.85.82.70.1-1.2-3.1-6.6-4.1-2.7
Debt to
Equity ⓘ		0.60.20.20.1000.20.20.30.4-
Working Cap
Days ⓘ		17621822324634222724623927422582
Cash Conv.
Cycle ⓘ		103114121136162901071091199422

Valuation of Waterbase - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales322212299304339278350
Operating Expenses ⓘ + 290197298300343296360
Manufacturing Costs15121921282831
Material Costs227139219226255210275
Employee Cost 21212628272321
Other Costs ⓘ 27263525333433
Operating Profit ⓘ 321414-4-18-10
Operating Profit Margin (%) 10.0%6.7%0.2%1.3%-1.2%-6.6%-2.9%
Other Income ⓘ + 2393352
Exceptional Items ⓘ 0000000
Interest ⓘ 3112335
Depreciation ⓘ 77891087
Profit Before Tax ⓘ 2580-4-13-24-20
Tax ⓘ 620-1-3-6-5
Profit After Tax 1860-3-10-18-15
PAT Margin (%) 5.7%2.8%0.0%-1.1%-3.1%-6.5%-4.2%
Adjusted EPS (₹)4.51.40.0-0.8-2.5-4.4-3.5
Dividend Payout Ratio (%)0%70%0%0%0%0%0%
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 184190186183173155141
Share Capital ⓘ 41.4341.4341.4341.4341.4341.4341.43
Reserves ⓘ 142149145141131114100
Debt +90038264459
Long Term Debt5000000
Short Term Debt40038264459
Minority Interest0000000
Trade Payables20292546323333
Others Liabilities ⓘ 89908387747070
Total Liabilities ⓘ 302310294353304302304

Fixed Assets

Net Fixed Assets ⓘ +70666575727573
Gross Block99102109128135145150
Accumulated Depreciation29364453637177
CWIP ⓘ 1034201
Investments ⓘ 0000000
Inventories625859758389106
Trade Receivables74483987433322
Cash Equivalents 235742261775
Others Assets ⓘ 72818686889896
Total Assets ⓘ 302310294353304302304
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 44522-377-13-5
PBT ⓘ 2580-4-13-24-20
Adjustment ⓘ 13155911912
Changes in Working Capital ⓘ 1334-2-41722
Tax Paid ⓘ -8-5-1-020-0
Cash Flow From Investing Activity ⓘ + -4-5328-151-2-5
Capex -4-1-13-1715-9-8
Net Investments -1-53380-1561
Others ⓘ 1232211
Cash Flow From Financing Activity ⓘ + -20-10-531-14-127
Net Proceeds from Shares ⓘ 0000000
Net Proceeds from Borrowing ⓘ -9-800000
Interest Paid ⓘ -3-2-1-2-3-3-5
Dividend Paid ⓘ -70-40000
Others ⓘ -0-0-033-11231
Net Cash Flow ⓘ 20-1125-21-7-1516
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)10.063.160.04-1.89-5.88-11.08-9.9
ROCE (%)13.994.950.63-1.11-4.89-10.64-7.35
Asset Turnover Ratio1.070.690.990.991.070.951.19
PAT to CFO Conversion(x)2.448.67N/AN/AN/AN/AN/A
Working Capital Days
Receivable Days84.20105.2052.8071.40674828
Inventory Days70.7010471.5076.3081.90108.9098.90
Payable Days32.9065.5045.8057.4055.2055.7043.40

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Waterbase Ltd FAQs

The current trading price of Waterbase on 12-Oct-2026 16:59 is ₹44.51.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 11-Oct-2026 the market cap of Waterbase stood at ₹184.4 Cr

The latest P/E ratio of Waterbase as of 11-Oct-2026 is 0.00.

The latest P/B ratio of Waterbase as of 11-Oct-2026 is 1.29.

The 52-week high of Waterbase is ₹67.70 and the 52-week low is ₹38.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Waterbase is ₹384 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Waterbase Ltd is a below average quality company.

The key valuation ratios of Waterbase Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Waterbase Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Waterbase Ltd

Waterbase Limited is the largest integrated aquaculture unit in India located in the heart of shrimp country at Nellore in Andhra Pradesh. The company's mission is to give customers the best value for money with quality seed, feed, or processed produce.

The company began operations in 1993 and has stood committed to following and disseminating the best aquaculture techniques. Today, the company is a $18 million company (Rs 1 billion) with facilities that comprise a shrimp hatchery, feed plant, grow-out farms, and an ultra-modern process plant.

Waterbase Limited is a part of the 80-year-old, $ 2 billion Thapar Group, one of India's largest business houses. The Thapar Group has interests in areas such as paper, chemicals, glass, textiles, electronics, light and heavy engineering.

Raw or cooked, peeled or unpeeled, breaded and battered; it exports shrimp in different forms to the quality-conscious markets of Japan, USA, and Europe. In addition, the company supplies value-added shrimp in different forms to many of its customers.

Species it grows and processes:

Black Tiger, (P Monodon), White (P Indicus), Scampi (M. Rosenbergii)

Aquaculture is a business that demands constant monitoring and innovation. The company's process is geared to grow, harvest, and process quality shrimp. It follows HACCP guidelines and is among the few Indian companies that have FDA approval for exports to USA.

Product range of the company includes:

HLSO

  • Headless Shell-on block frozen

HO

  • Head-on block frozen

IQF

  • Full range

PDTO

  • Peeled Deveined Tail On

Stretched/Tray pack

Cooked - full range

Raw breaded butterfly shrimp

Value-added convenience foods

World-class feed for different types of shrimp culture

  • Ultra
  • Tiger bay
  • Supreme extensive
  • Magnum scampi feed

Clientele:

USA

  • Neptune Fisheries Inc, Virginia
  • H & N Fish Company, San Francisco
  • Central Seaway Corporation Inc., Illinois
  • Aquastar Inc., Seattle
  • Amende and Schultz, Inc., Pasadena
  • Darik Enterprises Inc, New York
  • Hanwa American Corp, Seattle
  • Berdex Seafood Inc., San Francisco
  • Expack Seafood Inc., New Jersey
  • Ocean Garden Products Inc., San Diego
  • Torry Harris Inc., New Jersey
  • Red Chamber Co., Vernon
  • LBA Rymer International Seafood, Chicago

Japan

  • Hanwa Co., Nagoya
  • Hanwa Co. Limited, Tokyo
  • K.I. Shoji Co. Limited, GIFU - City
  • Mitsui & Company Limited, Tokyo
  • Eiger Co. Limited, Kyoto
  • Toshoku Limited, Tokyo
  • Osaka Uoichiba Co. Limited, Osaka
  • Sumitomo Corporation, Tokyo
  • Mitsubishi Corporation, Tokyo
  • Hoko Fishing Co. Limited, Tokyo
  • Showa Trading Co. Limited, Tokyo
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