Is Waterbase Ltd (WATERBASE) a good quality company?

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

Is Waterbase Ltd (WATERBASE) undervalued or overvalued?

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

What is Waterbase Ltd (WATERBASE) share price return in the past 10 years?

Waterbase Ltd share price has declined -7.2% annually (CAGR) over the past ten years.

Is Waterbase Ltd (WATERBASE) a good buy now?

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.

What is the share price of Waterbase Ltd (WATERBASE)?

Company share prices are keep on changing according to the market conditions. The current trading price of Waterbase Ltd (WATERBASE) on 10-Apr-2026 16:59:59 at 16:59 is 47.38.

What is the market cap of Waterbase Ltd (WATERBASE)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Apr-2026 at 16:59, the market cap of Waterbase stood at Rs. 196.28 Cr.

What is the P/E ratio of Waterbase?

The latest standalone P/E ratio of Waterbase as of 10-Apr-2026 is 0.00.

What is the P/B ratio of Waterbase Ltd (WATERBASE)?

The latest standalone P/B ratio of Waterbase Ltd (WATERBASE) as of 10-Apr-2026 is 1.36.

What is the 52-week high and low of Waterbase Ltd (WATERBASE)?

The 52-week high of Waterbase Ltd (WATERBASE) is Rs. 67.70 and the 52-week low is Rs. 38.00.

What is the TTM revenue of Waterbase Ltd (WATERBASE)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Waterbase is Rs. 346.80 (Cr.).

Waterbase Ltd (WATERBASE) Share Analysis – Quality, Growth & Valuation Zone & DeciZen Rating

Name: Waterbase Ltd (WATERBASE)
Brand: Waterbase

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	2.3%	17.6%	28.6%	26.7%	13.9%	5%	0.6%	-1.1%	-4.9%	-10.6%	-
Value Creation Index ⓘ	-0.8	0.3	1.0	0.9	0.0	-0.7	-1.0	-1.1	-1.4	-1.8	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	319	322	343	365	322	212	299	304	339	278	347
Sales YoY Gr.	-	1%	6.5%	6.6%	-11.8%	-34.4%	41.2%	1.8%	11.6%	-18.1%	-
Adj EPS ⓘ	3.9	3	7.2	6.9	4.5	1.4	0.1	-0.9	-2.5	-4.4	-4
YoY Gr.	-	-23.9%	141.5%	-4.3%	-35.2%	-69%	-95%	-1371.4%	NA	NA	-
BVPS (₹) ⓘ	25.6	31.5	36.1	41.8	44.4	45.9	44.9	44.1	41.7	37.5	34.8
Adj Net Profit ⓘ	15.2	11.6	29.9	28.6	18.6	5.7	0.3	-3.7	-10.4	-18.3	-17
Cash Flow from Ops. ⓘ	0.1	-13.1	54.6	19.8	43.8	51.9	2.3	-36.6	6.7	-12.5	-
Debt/CF from Ops. ⓘ	88.2	-5.2	0.5	1.4	0.3	0	0	-1	3.9	-3.5	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-1.5%	-2.9%	-2.4%	-18.1%
Adj EPS ⓘ	-201.3%	-199.7%	-497.9%	NA
BVPSⓘ	4.3%	-3.3%	-5.9%	-10.1%
Share Price	-7.2%	-15.5%	-10.4%	-1.2%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	15.2	10.3	21.8	17.8	10.4	3.1	0.2	-2	-5.8	-11.2	-11.2
Op. Profit Mgn % ⓘ	7.5	9.5	16.8	14.2	10	6.7	0.3	1.4	-1.2	-6.6	-3.9
Net Profit Mgn % ⓘ	4.8	3.6	8.7	7.8	5.8	2.7	0.1	-1.2	-3.1	-6.6	-4.8
Debt to Equity ⓘ	0.1	0.6	0.2	0.2	0.1	0	0	0.2	0.2	0.3	-
Working Cap Days ⓘ	137	176	218	223	246	342	227	246	239	274	81
Cash Conv. Cycle ⓘ	76	103	114	121	136	162	90	107	109	119	27

Recent Performance Summary

Sales growth is good in last 4 quarters at 29.36%

Return on Equity is Poor

Sales growth has been subdued in last 3 years -2.40%

	Standalone	Consolidated
TTM EPS (₹)	-4	-4.1
TTM Sales (₹ Cr.)	347	347
BVPS (₹) ⓘ	34.8	34.8
Reserves (₹ Cr.) ⓘ	103	103
P/BV ⓘ	1.36	1.36
PE ⓘ	0.00	0.00

From the Market
52 Week Low / High (₹)	38.00 / 67.70
All Time Low / High (₹)	1.84 / 417.50
Market Cap (₹ Cr.)	196
Equity (₹ Cr.)	41.4
Face Value (₹)	10
Industry PE ⓘ	28.8

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	319	322	343	365	322	212	299	304	339	278
Operating Expenses ⓘ +	295	291	285	314	290	197	298	300	343	296
Manufacturing Costs	11	17	16	16	15	12	19	21	28	28
Material Costs	244	238	218	247	227	139	219	226	255	210
Employee Cost	14	16	19	21	21	21	26	28	27	23
Other Costs ⓘ	26	19	33	30	27	25	35	25	33	34
Operating Profit ⓘ	23	30	58	51	32	14	1	4	-4	-18
Operating Profit Margin (%)	7.4%	9.4%	16.8%	14.1%	10.0%	6.7%	0.2%	1.3%	-1.2%	-6.6%
Other Income ⓘ +	2	2	2	6	2	3	9	3	3	5
Exceptional Items ⓘ	-21	0	0	0	0	0	0	0	0	0
Interest ⓘ	1	9	4	3	3	1	1	2	3	3
Depreciation ⓘ	2	5	6	7	7	7	8	9	10	8
Profit Before Tax ⓘ	2	18	49	47	25	8	0	-4	-13	-24
Tax ⓘ	1	6	19	16	6	2	0	-1	-3	-6
Profit After Tax	1	12	30	31	19	6	0	-3	-10	-18
PAT Margin (%)	0.2%	3.6%	8.7%	8.4%	5.8%	2.8%	0.0%	-1.1%	-3.1%	-6.5%
Adjusted EPS (₹)	0.2	3.0	7.2	7.5	4.5	1.4	0.0	-0.8	-2.5	-4.4
Dividend Payout Ratio (%)	0%	33%	21%	20%	0%	70%	0%	0%	0%	0%

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	100	122	150	173	184	190	186	183	173	155
Share Capital ⓘ	39	39	41	41	41	41	41	41	41	41
Reserves ⓘ	61	83	108	132	142	149	145	141	131	114
Debt +	10	62	22	18	9	0	0	38	26	44
Long Term Debt	0	14	13	8	5	0	0	0	0	0
Short Term Debt	10	48	8	10	4	0	0	38	26	44
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	23	35	52	27	20	29	25	46	32	32
Others Liabilities ⓘ	31	47	74	89	89	90	83	87	74	70
Total Liabilities ⓘ	164	265	297	307	302	310	294	353	305	302
Fixed Assets
Net Fixed Assets ⓘ +	18	62	61	73	70	66	65	75	72	75
Gross Block	65	71	76	95	99	102	109	128	135	145
Accumulated Depreciation	46	9	15	22	29	36	44	53	63	71
CWIP ⓘ	3	3	9	1	1	0	3	4	2	0
Investments ⓘ	0	0	0	0	0	0	0	0	0	0
Inventories	16	71	83	89	62	58	59	75	83	89
Trade Receivables	76	82	90	73	74	48	39	87	43	33
Cash Equivalents	21	11	7	7	23	57	42	26	17	7
Others Assets ⓘ	29	36	47	65	72	81	86	86	88	98
Total Assets ⓘ	164	265	297	307	302	310	294	353	305	302

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	0	-13	55	20	44	52	2	-37	7	-13
PBT ⓘ	22	18	49	47	25	8	0	-4	-13	-24
Adjustment ⓘ	3	13	19	14	13	15	5	9	11	9
Changes in Working Capital ⓘ	3	-40	0	-24	13	34	-2	-41	7	2
Tax Paid ⓘ	-7	-4	-14	-18	-8	-5	-1	-0	2	0
Cash Flow From Investing Activity ⓘ +	-4	-7	-6	-8	-4	-53	28	-15	1	-2
Capex	-5	-8	-12	-10	-4	-1	-13	-17	15	2
Net Investments	0	-0	4	1	-1	-53	38	0	-15	-5
Others ⓘ	1	1	2	1	1	2	3	2	2	1
Cash Flow From Financing Activity ⓘ +	-5	-15	-9	-13	-20	-10	-5	31	-14	-1
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-0	-7	0	-3	-9	-8	0	12	0	0
Interest Paid ⓘ	-0	-9	-4	-3	-3	-2	-1	-2	-3	-3
Dividend Paid ⓘ	-2	0	-5	-7	-7	0	-4	0	0	0
Others ⓘ	-2	0	-0	-0	-0	-0	-0	21	-11	2
Net Cash Flow ⓘ	-9	-36	40	-2	20	-11	25	-21	-7	-15

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	0.7	10.5	22.04	19.12	10.39	3.17	0.05	-1.88	-5.87	-11.07
ROCE (%)	2.33	17.57	28.57	26.72	13.86	4.96	0.64	-1.11	-4.88	-10.63
Asset Turnover Ratio	1.93	1.5	1.22	1.21	1.06	0.69	0.99	0.99	1.07	0.95
PAT to CFO Conversion(x)	0	-1.08	1.83	0.65	2.32	8.67	N/A	N/A	N/A	N/A
Working Capital Days
Receivable Days	76	89	92	82	83	105	53	71	67	48
Inventory Days	32	49	82	86	85	104	72	76	82	109
Payable Days	36	44	73	58	38	65	46	57	55	56

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

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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Waterbase Ltd (WATERBASE) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Waterbase Share Price