Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹297Cr
Rev Gr TTM
Revenue Growth TTM
24.46%
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | | 87.1 | 50.1 | 51.0 | 24.3 | 34.0 | 43.5 | 46.6 | 25.3 | 21.5 | 41.5 | 10.7 |
| 17 | 17 | 17 | 20 | 22 | 23 | 24 | 27 | 26 | 27 | 36 | 31 |
Operating Profit Operating ProfitCr |
| 17.6 | 18.0 | 18.1 | 12.4 | 14.8 | 18.1 | 19.9 | 20.2 | 17.2 | 20.3 | 17.7 | 16.2 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | 3 | 3 | 2 | 3 | 4 | 5 | 5 | 4 | 5 | 6 | 4 |
| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
|
Growth YoY PAT Growth YoY% | | 117.2 | 76.2 | 0.0 | -12.6 | 33.5 | 61.4 | 169.7 | 46.4 | 21.6 | 22.2 | -21.7 |
| 10.1 | 10.3 | 10.1 | 6.4 | 7.1 | 10.2 | 11.4 | 11.7 | 8.3 | 10.2 | 9.8 | 8.3 |
| 0.9 | 0.9 | 0.9 | 0.6 | 0.8 | 1.2 | 1.4 | 1.6 | 1.1 | 1.4 | 1.7 | 1.3 |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 48.5 | 37.0 | 18.0 |
| 51 | 76 | 100 | 120 |
Operating Profit Operating ProfitCr |
| 16.8 | 15.7 | 18.9 | 17.8 |
Other Income Other IncomeCr | 0 | 0 | 1 | 1 |
Interest Expense Interest ExpenseCr | 3 | 4 | 5 | 7 |
Depreciation DepreciationCr | 0 | 0 | 1 | 2 |
| 8 | 10 | 17 | 19 |
| 2 | 3 | 5 | 5 |
|
| | 32.1 | 70.7 | 4.2 |
| 9.4 | 8.4 | 10.4 | 9.2 |
| 2.4 | 3.2 | 5.3 | 5.5 |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 24 | 25 | 25 | 25 |
| 12 | 33 | 46 | 54 |
Current Liabilities Current LiabilitiesCr | 24 | 30 | 58 | 63 |
Non Current Liabilities Non Current LiabilitiesCr | 12 | 14 | 13 | 23 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 41 | 59 | 83 | 104 |
Non Current Assets Non Current AssetsCr | 30 | 43 | 58 | 61 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | -2 | -4 | -4 |
Investing Cash Flow Investing Cash FlowCr | -3 | -13 | -16 |
Financing Cash Flow Financing Cash FlowCr | 5 | 19 | 18 |
|
Free Cash Flow Free Cash FlowCr | -2 | -5 | -10 |
| -30.2 | -52.9 | -33.6 |
CFO To EBITDA CFO To EBITDA% | -16.9 | -28.1 | -18.5 |
| Financial Year | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 216 | 447 | 295 |
Price To Earnings Price To Earnings | 37.8 | 59.2 | 22.7 |
Price To Sales Price To Sales | 3.5 | 4.9 | 2.4 |
Price To Book Price To Book | 6.0 | 7.7 | 4.2 |
| 23.9 | 33.9 | 15.2 |
Profitability Ratios Profitability Ratios |
| 23.4 | 22.0 | 24.8 |
| 16.8 | 15.7 | 18.9 |
| 9.4 | 8.4 | 10.4 |
| 15.8 | 14.7 | 17.4 |
| 15.9 | 13.1 | 18.2 |
| 8.0 | 7.5 | 9.1 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
#### **Overview**
Kings Infra Ventures Limited (KIVL), established in 1987 and headquartered in Kochi, Kerala, is a technology-driven leader in sustainable aquaculture and integrated seafood value chain operations. Originally founded as Victory Aqua Farms in Tuticorin, Tamil Nadu, the company pioneered India’s first integrated semi-intensive aquaculture project, laying the foundation for the nation’s Blue Revolution. Over the decades, Kings Infra has evolved into a diversified enterprise spanning aquaculture, seafood processing, exports, branded retail, maritech infrastructure development, and digital transformation in aquaculture.
Led by Chairman & Managing Director Mr. Shaji Baby John, the company has repositioned itself as a **Bluetech innovator**, integrating **AI, IoT, blockchain, and automation** into every segment of its operations to drive sustainability, traceability, and operational excellence.
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#### **Core Business Segments & Strategic Pillars**
Kings Infra’s growth strategy rests on **five interlinked pillars**:
1. **Land-Based Sustainable Aquaculture**
2. **Seafood Exports**
3. **Branded Domestic Retail (Frigo & Bento)**
4. **Maritech Eco Park Development**
5. **Land Monetization & Infrastructure Development**
These pillars support the company’s vision of building a **fully integrated "farm-to-fork" ecosystem**—one of the first of its kind in India’s seafood industry.
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### **Key Developments (As of Nov 2025)**
#### **1. Maritech Eco Park – India’s First AI-Driven Aquaculture Hub**
- A transformative **₹175 crore** project in **Tuticorin, Tamil Nadu**, with **Phase I underway on 126 acres** of company-owned land.
- The facility, operated through subsidiary **Kings Maritech Eco Park Limited (KMEPL)**, features **100 Eco Mariculture Units (EMUs)** powered by:
- AI and machine learning
- IoT sensors and PLC automation
- Closed-loop Recirculating Aquaculture Systems (RAS)
- Biofloc technology and solar-powered energy
- **Expected to increase annual production cycles from 2 to 5**, boosting yield up to **50 tons/ha** (vs. industry average of 3–5).
- Scheduled for **commercial production within 24 months**, with full capacity of **1,600 tons/year**.
- **In-principle approval secured for ₹100 crore term loan** from a nationalized bank, supporting financial closure.
#### **2. Expansion into Andhra Pradesh: Srikakulam Cluster**
- Kings Infra is developing a **500-acre integrated aquaculture ecosystem in Srikakulam, AP**, with potential for further expansion to Odisha.
- The cluster includes:
- Multi-species farming: L. Vannamei, black tiger shrimp, seabass, grouper, crab, tilapia
- **AI-enabled RAS and biofloc systems**
- A dedicated **Marine Nutraceutical & Bio-actives Unit** producing:
- Astaxanthin
- Omega-3 oils
- Marine collagen
- Seaweed-based bioactives
- Project developed in partnership with the **Andhra Pradesh government**, with fast-tracked approvals and incentives under the Blue Economy policy.
- Expected to generate **significant employment** and position AP as a global hub for **responsible aquaculture**.
#### **3. Acquisition of Sriaqua Seafoods – Strategic East Coast Entry**
- Acquired **Sriaqua Seafoods**, a leading merchant exporter based in **Visakhapatnam**, in Q2 2025.
- Acquisition provides:
- Immediate access to AP's largest seafood export market (32% of India’s total in FY24)
- Processing infrastructure, 900+ MT/year capacity
- **Long-term export contracts with LX Corporation (South Korea)** and others
- Order book of over **100 containers**
- **Mr. Sreeram Inagalla**, former MD of Sriaqua, now COO of International Business at KIVL.
- Strategic integration enables **vertical scaling** from farm to final product, strengthening Kings Infra’s position in the global seafood value chain.
#### **4. Branded Retail: Kings Frigo & Kings Bento**
- **Kings Frigo**: Premium frozen and ready-to-cook seafood brand, rebranded from King Fresh in 2025.
- Launch of **direct-to-consumer (D2C) outlets** scheduled for **December 2025**.
- Multi-channel distribution via supermarkets, kiosks, online platforms, and dedicated showrooms.
- **Kings Bento**: Ready-to-eat (RTE), smart QSR brand offering seafood meals in bento boxes.
- Products co-developed with **Central Institute of Fisheries Technology (CIFT)**.
- Formats: retort pouches, frozen packs (FDA-compliant, room-temperature stable).
- Both brands target the **$23.5 billion Indian processed seafood market**, aiming for **75–100 outlets** in 5 years across India and Middle East.
- **Retail segment targeting 30–40% gross margins**, a significant uplift vs. 10–15% in B2B exports.
#### **5. Sustainable & Technology-Driven Aquaculture**
##### **SISTA360® – Proprietary Aquaculture Protocol**
- Kings Infra’s **industry-leading farming system** delivering:
- **Yields: 16–20 MT/ha** (vs. 3–5 MT/ha industry average)
- **Survival rate: 90–95%**
- **Feed conversion ratio (FCR): 1.1–1.3** (vs. 1.5–1.8)
- **Crop cycle: 100 days** → enables **3–5 harvests/year**
- Supports **antibiotic-free, traceable, and high-yield production**.
- Integrated with **blockchain for end-to-end farm-to-plate traceability**.
##### **Performance Milestones**
- Holds **world record for harvesting 80g Vannamei shrimp** in pond-based aquaculture.
- Achieved **disease-free cycles** and **zero discharge systems**, aligning with ESG and BAP standards.
##### **Farm Leasing Model**
- Shifted from contract farming to **lease-cum-revenue-sharing model** (lease agreements of 3–5 years).
- Farming capacity **doubled to 3,600 tons/year** (owned + leased).
- Farmers receive fixed rent + up to 5% profit-sharing for local oversight.
- **SPEED Program**: 100-day training initiative to skill technicians and scale operations.
#### **6. Export Growth & Global Market Positioning**
- **Current export revenue: ~30% of total**, targeting **50–60% within 3 years**.
- **Key markets**: Europe (Spain, Italy, Germany, UK), China, South Korea (LX Corp), Vietnam, Middle East.
- **Direct client relationships** with:
- **Golian (China’s largest seafood importer)**
- **Barrufet, Wofco, Ititalia (Spain/Italy)**
- **LX International, Minh Phu Seafoods, CP Foods**
- Exports **unaffected by US tariffs** due to zero exposure to US market—positioning Kings Infra as a **risk-resilient exporter** during global trade volatility.
- **Spain office** acts as EU gateway, securing **5–7% premium margins**.
- Eyeing **US market entry post-2025** via new subsidiary, pending capacity expansion.
#### **7. Land Monetization Strategy**
- Holds **~101 acres of land in Tuticorin**, including a **1.1 km beachfront**, with development potential exceeding **5 million sq. ft.**
- **Plan to monetize ₹150 crore** over 3 years via:
- Joint development
- Long-term lease
- Sale to premium developers
- **Projects:**
- **Aquatic entertainment hub, marina, beach resort, wedding destination (65 acres)**
- **Aircraft terminal** (for air cargo, tourism, industrialization)
- Land assets in **Kochi, Bangalore, Tuticorin** being leveraged to fund core aquaculture and retail expansion without increasing leverage.
#### **8. R&D, Innovation & ESG Leadership**
- **Tuticorin R&D Center**: Focus on:
- Feed efficiency enhancement
- Probiotics and aquaculture health
- **Development of 16+ CAA-approved aqua healthcare products**
- **BlueTechOS**: AI-powered aquaculture management platform for real-time monitoring, predictive analytics, and digital farm control.
- **SISTA360 Digital Platform**:
- Connects farmers, hatcheries, input suppliers, buyers
- Offers traceability, advisory, financing, and government scheme linkages
- Goal: onboard **50,000 aqua farmers** nationwide
- **Collaborations**:
- **NEC Japan** (AI & IoT in aquaculture)
- **CIFT** (RTE product development, chitin/chitosan extraction)
- **Atomes Group Canada** (antibiotic-free aquaculture)
- **Tamil Nadu Dr. J. Jayalalithaa Fisheries University** (RAS, IMTA systems)
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### **Leadership & Governance**
- **Mr. Shaji Baby John**: Founder and CMD; instrumental in India’s Blue Revolution.
- **Team Expansion**:
- **Mr. Joseph Raghunath** (Head of Ops, ex-INR 150+ cr entrepreneur)
- **Mr. Jesus Vicente Piero Sos** (Int’l BD Advisor, Spain)
- **Dr. N. Pushparajan** (VP Aquaculture, Ph.D., ex-Multinational)
- **Board**: Balanced mix of industry veterans, technologists, and sustainability experts.
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