Waterbase Ltd.

•

waterbaseindia.comBSE: -NSE: WATERBASE

Market Cap₹ 196 Cr.

Current Price

High / Low₹ 54 / 44

Stock P/E0.0

Book Value₹ 34

Price to Book1.24

Dividend Yield0.00 %

ROCE-10.6 %

ROE-11.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Processed Shrimp: 48.2% • Shrimp Feeds: 47.0% • Others: 4.8%

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

View full sector analysis →

PROS

Latest quarter profit grew 136.1% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.32x)
Working capital cycle has improved - days down from 92 to 66
Company maintains a comfortable, low leverage position

CONS

Company is loss-making at the operating / net level
Operating cash flow has been negative in recent years
Company has a low return on capital employed of -5.5%
Company has a low return on equity of -6.3% over last 3 years
Interest coverage is weak at -7.7x - earnings barely cover interest
Company's sales have been declining over the last five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsAgriAquaculture

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	APEX	368.80	22.42	1152.50	0.68	21.66	138.08	256.53	-0.63	10.45	11.79
2.	SHINDL	163.85	38.22	642.53	0.00	6.28	16.95	120.30	4.43	11.89	10.78
3.	WATERBASE	47.23	0.00	195.66	0.00	1.19	136.13	121.49	39.42	-10.64	2.77

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	111	87	74	67	72	62	67	76	87	82	102	79	121
	108	87	76	72	78	66	70	81	90	86	103	81	121
Operating Profit	4	-1	-2	-4	-6	-4	-3	-5	-3	-5	-1	-2	0
OPM %	3.25%	-0.69%	-3.22%	-6.60%	-8.19%	-6.94%	-4.79%	-6.32%	-3.11%	-5.64%	-1.17%	-2.02%	0.26%
	1	1	0	1	0	4	0	1	1	0	1	1	1
Interest	1	1	1	1	1	1	0	1	1	1	1	1	2
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	1
Profit before Tax	1	-3	-5	-6	-9	-3	-5	-7	-4	-7	-4	-4	2
Tax %	24.17%	25.54%	14.96%	24.41%	25.50%	23.36%	26.69%	20.61%	26.07%	25.48%	26.40%	21.46%	21.89%
Net Profit	1	-2	-4	-5	-6	-2	-4	-5	-3	-5	-3	-3	1
	0.22	-0.58	-1.00	-1.15	-1.53	-0.60	-0.94	-1.31	-0.79	-1.31	-0.63	-0.81	0.29

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	319	322	343	365	322	212	299	304	339	278	384
	295	291	285	314	290	197	298	300	343	296	391
Operating Profit	23	30	58	51	32	14	1	4	-4	-18	-7
OPM %	7.36%	9.45%	16.81%	14.05%	10.01%	6.68%	0.23%	1.33%	-1.21%	-6.58%	-1.84%
	-19	2	2	6	2	3	9	3	3	5	3
Interest	1	9	4	3	3	1	1	2	3	3	5
Depreciation	2	5	6	7	7	7	8	9	10	8	7
Profit before Tax	2	18	49	47	25	8	0	-4	-13	-24	-14
Tax %	54.58%	35.40%	38.49%	34.82%	25.50%	26.75%	72.92%	20.47%	21.19%	24.01%	24.87%
Net Profit	1	12	30	31	19	6	0	-3	-10	-18	-10
EPS	0.00	0.00	0.00	0.00	0.00	1.43	0.02	-0.84	-2.52	-4.38	—
Dividend Payout %	0.00%	33.35%	20.78%	20.14%	0.00%	69.86%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 0%
5 Years:: -3%
3 Years:: -2%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: -17%
3 Years:: -17%
1 Year:: -38%

RETURN ON EQUITY

10 Years:: 5%
5 Years:: -3%
3 Years:: -6%
Last Year:: -11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	39	39	41	41	41	41	41	41	41	41
	61	83	108	132	142	149	145	141	131	114
	10	68	28	28	14	1	1	38	26	44
Trade Payables	23	35	52	27	20	29	25	46	32	32
	31	40	67	80	84	89	82	86	74	70
Total Liabilities	164	265	297	307	302	310	294	353	305	302
	18	62	61	73	70	66	65	75	72	75
Capital Work in Progress	1	3	9	1	1	0	3	4	2	0
	16	71	83	89	62	58	59	75	83	89
	0	0	0	0	0	0	0	0	43	33
Cash & Bank	21	11	7	7	23	57	42	26	17	7
	107	118	137	138	146	129	125	172	88	98
Total Assets	164	265	297	307	302	310	294	353	305	302

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	28	-9	68	37	51	57	4	-36	7	-13
Cash from Investing	-4	-7	-6	-8	-4	-53	28	-15	1	-2
Cash from Financing	-5	-15	-9	-13	-20	-10	-5	31	-14	-1
	-9	-36	40	-2	20	-11	25	-21	-7	-15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.04	69.04	69.04	69.04	69.04	69.04	69.04	69.04	69.04
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.01	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	0.00	0.12	0.00	0.00
	30.94	30.95	30.95	30.95	30.95	30.95	30.83	30.95	30.95

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for WATERBASE

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AI Stock Analyst

Waterbase Ltd.

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Name

APEX

368.80

22.42

1152.50

0.68

21.66

138.08

256.53

-0.63

10.45

11.79

SHINDL

163.85

38.22

642.53

0.00

6.28

16.95

120.30

4.43

11.89

10.78

WATERBASE

47.23

0.00

195.66

0.00

1.19

136.13

121.49

39.42

-10.64

2.77

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

111

102

121

108

103

121

Operating Profit

-1

-2

-4

-6

-4

-3

-5

-3

-5

-1

-2

OPM %

3.25%

-0.69%

-3.22%

-6.60%

-8.19%

-6.94%

-4.79%

-6.32%

-3.11%

-5.64%

-1.17%

-2.02%

0.26%

Interest

Depreciation

Profit before Tax

-3

-5

-6

-9

-3

-5

-7

-4

-7

-4

Tax %

24.17%

25.54%

14.96%

24.41%

25.50%

23.36%

26.69%

20.61%

26.07%

25.48%

26.40%

21.46%

21.89%

Net Profit

-2

-4

-5

-6

-2

-4

-5

-3

-5

-3

0.22

-0.58

-1.00

-1.15

-1.53

-0.60

-0.94

-1.31

-0.79

-1.31

-0.63

-0.81

0.29

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

319

322

343

365

322

212

299

304

339

278

384

295

291

285

314

290

197

298

300

343

296

391

Operating Profit

-4

-18

-7

OPM %

7.36%

9.45%

16.81%

14.05%

10.01%

6.68%

0.23%

1.33%

-1.21%

-6.58%

-1.84%

-19

Interest

Depreciation

Profit before Tax

-4

-13

-24

-14

Tax %

54.58%

35.40%

38.49%

34.82%

25.50%

26.75%

72.92%

20.47%

21.19%

24.01%

24.87%

Net Profit

-3

-10

-18

-10

EPS

0.00

1.43

0.02

-0.84

-2.52

-4.38

—

Dividend Payout %

0.00%

33.35%

20.78%

20.14%

0.00%

69.86%

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

108

132

142

149

145

141

131

114

Trade Payables

Total Liabilities

164

265

297

307

302

310

294

353

305

302

Capital Work in Progress

Cash & Bank

107

118

137

138

146

129

125

172

Total Assets

164

265

297

307

302

310

294

353

305

302

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-9

-36

-13

Cash from Investing

-4

-7

-6

-8

-4

-53

-15

-2

Cash from Financing

-5

-15

-9

-13

-20

-10

-5

-14

-1

-9

-36

-2

-11

-21

-7

-15

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

69.04

FIIs

0.00

0.01

0.00

0.12

0.00

30.94

30.95

30.83

30.95

Waterbase Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Waterbase Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI