Aquaculture is a booming industry in India, with many companies producing top-quality products. This sector holds significant importance as it contributes immensely to the economy while providing food security and employment opportunities nationwide. Similar to the growth observed in other sectors, such as shipping, paper manufacturing, and water treatment, the aquaculture industry in India has shown significant progress. With an ever-growing demand for seafood, you’ll find numerous aquaculture companies in India that are making their marks on both domestic and global fronts.
India’s unique geographical advantages and advanced technology have grown these aquaculture enterprises exponentially. These companies offer a wide range of quality products, from freshwater prawns to high-value marine shrimps. The top 10 aquaculture product companies stand out not only because of their scale but also due to their commitment towards sustainable practices and innovation.
In this article, we’re going deep into the world of Indian aquaculture and bringing you closer to the top players in this field. You’ll get acquainted with how they operate, what sets them apart from others and why they are considered leaders in this domain.
Aquaculture Products Industry in India
- India is the third-largest fish-producing country in the world, accounting for 8% of global production.
- The country contributes about 1.1% to its GVA and over 6.72% to the agricultural GVA.
- In terms of employment, the sector supports the livelihood of over 28 million people in India, especially the marginalized and vulnerable communities.
- Inland fisheries production reached 12.12 MMT during FY 21-22, while marine fisheries production was 4.13 MMT in the same period.
- The sector reached a record fish production of 16.25 MMT in FY 2021-22.
- The Indian aquaculture market reached 11.40 Million Tons in 2021 and is expected to reach 18.40 Million Tons by 2027, exhibiting a CAGR of 8.20% during 2022-2027.
- Carp and shrimp farming are the two main pillars of Indian aquaculture, with carp accounting for 87% of output. This growth parallels other sectors, such as consumer durables and road transport, highlighting India’s diverse industrial capabilities.
- Freshwater aquaculture accounts for nearly 55% of the total fish production in India.
- The India aquafeed market is expected to reach USD 3.91 billion in 2023 and grow at a CAGR of 4.5% to reach USD 4.88 billion by 2028.
- Fishing and aquaculture made up over 1.5 trillion Indian rupees in gross value added to agriculture across India in fiscal year 2020.
Aquaculture Products Companies in India
Here are the top 10 aquaculture products companies in India:
- Apex Frozen Foods Ltd
- Avanti Feeds Ltd
- The Waterbase Limited
- Coastal Corporation Limited
- Zeal Aqua
- Alltech
- Cargill Incorporated
- Godrej Agrovet Limited (Godrej Industries Limited)
- Naga Hanuman Fish Packers
- Khedut Feeds and Foods Private Limited
| Company Name | Revenue (2022) |
|---|---|
| Apex Frozen Foods Ltd | ₹1,072 crores |
| Avanti Feeds Ltd | ₹1,117 crores |
| The Waterbase Limited | ₹111 crores |
| Coastal Corporation Limited | ₹491 crores |
| Zeal Aqua | ₹362 crores |
| Alltech | ₹11,840 crores |
| Cargill Incorporated | ₹12,32,550 crores |
| Godrej Agrovet Limited (Godrej Industries Limited) | ₹8,385 crore |
| Naga Hanuman Fish Packers | ₹1,150.40 crores |
The success of these companies mirrors the achievements in sectors like jewellery and tyre manufacturing, showcasing India’s diverse industrial strengths.
1. Apex Frozen Foods Ltd
A name that stands tall in the aquaculture industry, particularly in India, is Apex Frozen Foods Ltd. Established in 1995, this company has swiftly emerged as an integrated producer and exporter of quality shelf-stable aquaculture products.
The firm primarily focuses on producing and processing white shrimp and black tiger shrimp. Its impressive growth trajectory is reflected by its reported total revenue of ₹1,072.02 crores with a net profit of ₹41.1 crores for the fiscal year 2022.
| Fiscal Year | Total Revenue | Net Profit |
|---|---|---|
| 2022 | ₹1,072 crores | ₹41 crores |
Apex Frozen Foods takes pride in its workforce of 2,713 employees who have contributed significantly to its success story.
The company has successfully expanded its customer base across various international markets. It’s known for supplying ready-to-cook products to a diversified list of clientele, which includes:
- Food companies
- Retail chains
- Restaurants
- Club stores
- Distributors
These clients are spread all over major countries like the USA, UK and various European nations.
Headquartered in East Godavari, Andhra Pradesh, India, it’s noteworthy that Apex Frozen Foods exports 100% of its products worldwide.
Recognising their accomplishments and contribution to export earnings, Apex was awarded a Certificate of Recognition as a Two Star Export House from the Ministry of Commerce and Industry by the Government of India in 2015.
Underpinning their commitment to maintaining product integrity is their emphasis on research & development initiatives alongside stringent quality control measures – factors instrumental in preserving their market position amidst fierce competition.
2. Avanti Feeds Ltd
Avanti Feeds Ltd, a pioneer in the Indian aquaculture industry, has seen impressive growth over the years. As reflected in their recent financial report, the company’s net profit for Q4 2022-2023 reached an impressive ₹93.34 crores. That’s a 10.66% increase compared to the same period last year! The total revenue for this fiscal year was reported at ₹11,170.49 million.
Its dedicated workforce ranges between 808 and 1,162 employees. Their commitment and hard work have been instrumental in achieving these figures.
The product portfolio of Avanti Feeds is quite diverse and tailored towards aqua farming needs. It includes feed for prawns, shrimp, scampi and fish. They’re also into shrimp processing & exports with products like raw shrimps, shrimp rings, fish meals, cooked shrimps and skewers.
| Products | Description |
|---|---|
| Prawn Feed | Specially manufactured food for prawns |
| Shrimp Feed | Specialised feeds for different types of shrimps |
| Scampi Feed | Nutrient-rich feed designed for Scampus |
| Fish Feed | Manufactured keeping various species of fishes in mind |
Their key clients are spread far and wide from the USA to Europe and as far as Japan, Australia and the Middle East, showcasing their global footprint.
Founded back in 1993 by Alluri Venkateswara Rao in Hyderabad (Telangana), Avanti Feeds has consistently overcome hurdles such as high inflation rates or even global recession to post net profits after tax of INR 2.3 billion (USD 28 million/EUR25 million) during FY22-23!
They had announced plans back in 2018 to set up a shrimp hatchery unit with an ambitious capacity of 400 MT! This move underpins their commitment towards constant upgradation of aquaculture technology, bringing the latest developments to Indian farmers.
Through its history rich with achievements, Avanti Feeds continues to lead by example, proving it’s one of the top-tier companies within India’s thriving Aquaculture sector.
3. The Waterbase Limited
If you’re seeking top-quality aquaculture products in India, let’s turn our attention to The Waterbase Limited. This leading manufacturer of high-end shrimp feed reported a remarkable increase of 39.27% in net sales, reaching ₹111.23 crores in June 2023 compared to the previous year. Impressively, they also showed a surge of 50.17% in net profit for the same period, topping at ₹0.91 crores.
| Year | Net Sales (in Crores) | Net Profit (in Crores) |
|---|---|---|
| 2022 | Less than ₹111 | Less than ₹0.91 |
| 2023 | ₹111 | ₹0.91 |
With a team size ranging between 201 and 500 employees stationed at their Chennai headquarters, they’ve maintained a steady production line and ensured quality control across all products.
Their offerings go beyond just premium shrimp feed; they also process shrimp in various forms such as IQF, Block Frozen and Cooked, which are exported worldwide, including Japan, Europe and the United States of America.
The company’s clientele isn’t limited to local shores either; key clients include international shrimp farmers and dealers alongside domestic and overseas buyers of processed shrimp.
A quick glance through their history: Founded back in ’87 as Thapar Waterbase Limited by Mr Vikram Thapar – Chairman of KCT Group – this firm has grown from strength to strength over the years.
In terms of accolades under its belt, there are plenty – its recognition by Frost & Sullivan with the Best Practices award back in ’16, followed by bagging SME Empowering India Awards three years later under the Food, Agro and Horticulture category.
Furthermore, the company’s commitment to product excellence is evident through its world-class research facilities, working tirelessly behind the scenes to create nutritive feeds and employing renowned international nutritionists, ensuring top-notch quality across all offerings.
Additionally, it has won several recognitions, like clinching the Food Products category at ‘The Agri-Food Empowering India awards back in ‘21, which further solidifies its position among esteemed peers within the industry.
Its wide-ranging business operation is Pinnae Feeds Limited, operating as a subsidiary under the umbrella of The Waterbase Limited, adding yet another feather to its cap.
4. Coastal Corporation Limited
Coastal Corporation Limited is a noteworthy player in India’s aquaculture industry. Having its roots firmly anchored since 1981, the company has grown into an enterprise that reported revenues of ₹491.10 crores and a net profit of ₹131.89 crores for the fiscal year 2022.
In fact, Coastal Corporation Limited had around 772 employees in 2022, representing a significant workforce within the Indian seafood export sector.
For starters, it’s primarily engaged in the processing and export of seafood. This isn’t just any seafood, though; they specialise in shrimp and shrimp products, meeting the diverse tastes of different markets across the globe.
| Year | Revenue (₹ Crores) | Net Profit (₹ Crores) | Employee Count |
|---|---|---|---|
| 2022 | 491.10 | 131 | 772 |
Now, let’s talk about who benefits from their offerings. The company exports its products to various countries, including:
- The United States
- Europe
- Canada
- The United Arab Emirates
- Saudi Arabia
- Australia
- Hong Kong
- Korea
- China
Coastal Corporation caters to domestic needs and delivers quality seafood to international clients.
A bit more about their journey – Originally established as Coastal Trawlers Private Limited in ’81, the company transformed into a public limited entity by ’85. Later on, it adopted its current name, “Coastal Corporation Limited”, in 2005 — marking an important milestone in its corporate history.
As you can see, with years of experience, substantial revenue figures, and a global client base, there’s no wonder why Coastal Corporation Limited ranks among the top aquaculture companies operating out of India today.
5. Zeal Aqua
You’re about to dive into the world of Zeal Aqua, one of India’s leading aquaculture companies. Established in 2009 in Surat, Gujarat, this company has grown to become a significant player with several related corporates under its belt. These include Rati Aqua Private Limited, Jacob Foods Private Limited and Rameshwar Aquaculture Private Limited.
In FY22, Zeal Aqua reported an impressive total operating revenue of ₹362.69 crores. That’s not all – the net profit margin also experienced growth, rising from 1.4% in FY21 to 1.7%.
Fast forward to Q1 2023-2024, and you’ll see this success story continue with a year-over-year revenue increase of a staggering 74.91%, bringing it up to ₹82.21 crores.
| FY | Revenue (in Crores) | Profit Margin |
|---|---|---|
| ’21 | Not Available | 1.4% |
| ’22 | ₹362 | 1.7% |
| Q1’23-’24 (YoY Increase) | ₹82 (+74.91%) | – |
A dedicated team of 105 employees propels Zeal Aqua towards its mission every day. Their operations span shrimp farming, processing and trading, and running fish hatcheries and farms.
What sets them apart is their commitment to research and development, which allows them to increase productivity without compromising on quality standards for stringent product testing requirements.
Take a moment now to appreciate how far they’ve come since their early days when they had just one production capacity, producing only around 1500 tons of shrimp back in 2015!
With such significant strides already made by Zeal Aqua within the Indian aquaculture industry, it’s definitely going to be interesting to watch where they swim next.
6. Alltech
Diving into the world of aquaculture, we come across a company that’s a game-changer in the sector. Alltech, an American-based firm with an impressive global presence, has been making waves in India’s aquaculture industry. In 2022 alone, Alltech raked in a staggering approximately ₹11,840 crores.
With over 6,000 employees worldwide, it’s clear that this isn’t just any ordinary company. These dedicated individuals work tirelessly to provide top-notch animal nutrition and health products for farmers around the globe.
Their main offerings are feed supplements that help farmers raise healthy animals and plants while also protecting our environment. This innovative approach to farming makes them a go-to choice for feed mills, livestock producers and farmers alike who are keen on sustainable agriculture.
You’ll find their headquarters nestled in Nicholasville, Kentucky – but their impact is felt far beyond those borders.
They’ve recently released their 2022 Sustainability Report, which proudly aligns with United Nations Global Compact principles and the U.N.’s Sustainable Development Goals—a testament to their commitment to sustainable food production.
The company has forged partnerships with various key players within the agri-food sector, like Trillium Sport Horses and Erin MacDonald—who happens to be a successful Canadian three-star event rider!
Alltech was founded in 1980 by Irish biochemist Dr Pearse Lyons, armed only with $10k and his vision for sustainability—a vision he brought to life.
Their dedication has led to recognition from Toxins, which awarded them one of the three Best Paper awards for their mycotoxin research paper in 2022!
This is further exemplified by numerous other awards, such as being recognized for their significant contributions to mycotoxin research—an achievement made possible through unwavering dedication and passion.
They’ve expanded significantly, too—with eight acquisitions, including Ridley, Masterfeeds and Keenan Systems, under their belt—spending more than $424 million on these ventures.
And let’s not forget about Erin MacDonald—their brand ambassador—who represents them quite impressively on the international stage!
7. Cargill Incorporated
Cargill Incorporated is a heavyweight in the world of aquaculture products. Its global footprint is unmistakable. In the fiscal year 2022, Cargill’s revenue surged by a whopping 23% from the previous year to reach a record-breaking approximately ₹12,32,550 crores. The company last reported earnings of roughly ₹37,350 crores.
This multinational corporation employs over 155,000 people across the globe. It’s not just about numbers; it’s also about diversity and spread. Cargill provides a wide array of products and services spanning food, agricultural, financial and industrial sectors. This includes everything from food ingredients to animal nutrition solutions and even meat and poultry.
Well, their client base is vast and varied. Farmers are catered for, as well as manufacturers. Distributors get their share along with retailers and food service companies.
The nerve centre for all this activity is at Wayzata, Minnesota, in the United States, where Cargill has its headquarters.
Over time, Cargill has morphed from being merely a grain storage facility into an international producer distributing agricultural products such as sugar-refined oil chocolate turkey- talk about progress! The expansion didn’t stop there; they’ve also grown their animal nutrition portfolio through acquisitions of Provimi EWOS Diamond V Pro-Pet, among others.
A significant milestone for them was closing a deal in 2022 when they purchased Sanderson Farms Inc., the No. 3 chicken producer, together with Continental Grain Co. in an agreement worth approximately $4.53 billion.
Tracing back to its roots, Cargill was founded way back in 1865 by William Wallace Cargill when he bought a grain warehouse in Conover, Iowa. Since then, it has seen steady growth, opening offices around the world and making numerous acquisitions along the way.
Finally, let’s touch on innovation sustainability. These two facets are high priority list annual report highlights dedication to solving complex problems within the system. Examples of notable acquisitions include vanaspati brands Rath Sunflower sunflower oil brand Sweekar India. They’ve also acquired Nutrena Mills Kerr Gifford Netherlands-based Provimi.
8. Godrej Agrovet Limited (Godrej Industries Limited)
Let’s talk about Godrej Agrovet Limited, a prominent player in India’s burgeoning aquaculture industry. Part of the esteemed Godrej Group established in 1897, this company was incorporated as a versatile, research and development-focused agri-business back in 1991.
In fiscal year 2022, they reported a revenue of ₹8,385 crore (approximately $1.1 billion), with net profits totalling ₹508 crore (around $64 million). Their success and growth are reflected by their workforce, which stands at over 3,000 employees as of 2022.
| Fiscal Year | Revenue | Net Profit |
|---|---|---|
| 2022 | ₹8,385 crore | $64 million |
Their operations span various sectors, including animal feed, crop protection and dairy, to name a few. They have an impressive product portfolio, too – encompassing everything from plant growth regulators to bioimplants and crop protection chemicals.
The first quarter of fiscal year 2023 saw them enjoying considerable achievements. The company reported a whopping 27.3% increase in profit courtesy of lower costs coupled with growth in its animal feed and crop protection businesses.
A key highlight is their joint venture with Tyson Foods from the U.S.A. – named Godrej Tyson Foods. This enterprise manufactures and markets processed poultry and vegetarian products under well-known brands like Real Good Chicken and Yummiez.
Godrej Agrovet operates out of its headquarters at Godrej One on Eastern Express Highway in Vikhroli East, Mumbai – serving both farmers and consumers all over India and internationally.
Astec LifeSciences is one notable subsidiary under the umbrella of Godrej Agrovet; it specialises in manufacturing agrochemicals.
At the helm, we have Nadir Godrej serving as chairman while Balram Yadav takes up the mantle as managing director, steering this behemoth towards greater heights within the realm of aquaculture.
9. Naga Hanuman Fish Packers
Dive into the fascinating world of the aquaculture industry with one of India’s leading companies, Naga Hanuman Fish Packers. Founded in 1999 by Nukala Ramakrishna (NRK) in Visakhapatnam, Andhra Pradesh, this enterprise began its journey with fish cultivation and trading. Over time, it branched out into various sectors like processing and exporting shrimps, which remains their primary business.
The operating income for FY22 stood at a robust ₹1,150.40 crores compared to ₹1,024.06 crores in FY21. This shows an impressive growth trajectory and demonstrates their strong market presence.
| Fiscal Year | Operating Income |
|---|---|
| FY21 | ₹1,024 crores |
| FY22 | ₹1,150 crores |
With a workforce ranging from 1001 to 5000 employees, they are indeed making significant contributions to employment generation within the local community.
Well, besides specialising in shrimp processing and exportation, which has gained them global recognition, they have successfully diversified into other areas such as edible oils production & distribution; fish and shrimp feed manufacturing; fish processing; import & export businesses; polymers creation; and ice factories operation. This diversification strategy underscores their ambitious nature as well as their capacity for innovation within the aquaculture sector.
Visakhapatnam, also known as “The Jewel of The East Coast”, this bustling city located in Andhra Pradesh, provides an excellent base for Naga Hanuman Fish Packers’ headquarters. It serves an essential role due to its strategic location near abundant aquatic resources and its proximity to key markets both domestically and internationally.
So there you have it – a snapshot of one of India’s top-tier companies operating within the aquaculture sector: Naga Hanuman Fish Packers.
10. Khedut Feeds and Foods Private Limited
Let’s take a dive into the world of Khedut Feeds and Foods Private Limited. This Indian private company has carved out its niche in the realm of aquaculture products, specifically focusing on the processing and grading of groundnuts. With headquarters in Rajkot, Gujarat, this local heavyweight has been operating since February 19, 2003.
It’s worth noting that their authorized share capital stands at an impressive ₹4.00 crores (which is also their paid-up capital).
| Financial Metrics | Amount (in crores) |
|---|---|
| Authorized Share Capital | ₹4.00 |
| Paid-up Capital | ₹4.00 |
While they may not be a massive operation with hundreds of employees on the payroll, their lean team ensures commitment and quality output. The company reportedly operates with at least three dedicated team members.
Khedut Feeds and Foods Private Limited plays a significant role within India’s aquaculture sector through its main product line – processed and graded groundnuts. Groundnuts are an essential ingredient in countless dishes throughout India; hence, this company’s impact goes beyond just numbers.
From its humble beginnings back in 2003 till now, Khedut continues to contribute significantly towards feeding our nation through sustainable practices. The classification as an unlisted Indian non-government company only adds another feather to its cap, given how it manages to hold weight in such a competitive industry without governmental backing.
Despite missing some key details like recent financials or the number of employees, one can’t deny the importance of companies like Khedut Feeds and Foods Private Limited in sustaining our food supply chains – especially regarding quality groundnut processing!
Conclusion on Aquaculture Products Companies in India
Diving into the list of top 10 aquaculture products companies in India, it’s clear that these firms are making significant strides in this growing industry. Each has carved a niche for itself by capitalising on the nation’s vast coastline and numerous inland water bodies, providing a critical contribution to India’s economy.
While each company has its own unique strengths and specialities, they share common approaches that contribute to their success:
- Adherence to international standards
- Constant innovation
- Sustainable practices
- Quality products
It’s also important to consider potential challenges facing these businesses down the line. Fluctuating climate conditions could impact fish populations, while emerging regulations may pose new operational hurdles.
But with their proven track record of adaptation and resilience, you can expect these top players to navigate future waves with aplomb. The presence of such robust companies confirms that India’s aquaculture scene is not just thriving but is set for sustained growth.
