Oceanic Foods is an Indian industrial-scale manufacturer that turns fresh vegetables and herbs into shelf-stable dehydrated ingredients - flakes, granules and powders - for some of the world’s largest food companies. Founded in 1972 by the late Shri Vinodrai D. Patel as a pioneer in industrial dehydration, it has spent more than five decades supplying multinational corporations from two plants in Gujarat, becoming the country’s first and only publicly listed company focused solely on the dehydration business. The recurring approach is simple: take a perishable commodity, remove the water under exacting international safety standards, and sell a lightweight, long-life ingredient to buyers who value consistency above all else. # Business segments A single engine - industrial dehydration of vegetables and herbs - serving global food manufacturers from two vertically integrated plants in Gujarat. ## 1. Dehydrated ingredients: the industrial pantry for global food brands **Oceanic takes raw onion and garlic, dries and processes them into precise ingredient forms, and sells them on a per-unit basis to multinational food companies that have relied on the relationship for up to four decades.** - **Two plants, one pipeline** - Unit I on a 5-acre site in Lalpur handles primary processing (peeling, washing, slicing, steam drying under ozone), while Unit II in Jamnagar does secondary work (oven-drying, sorting, mincing, grinding, toasting and metal detection), so the company controls quality from raw arrival to finished pack. - **Built for buyer compliance, not just production** - the facilities operate under FSSC22000/BRC accreditation, hold BRC-A grade, Halal, Kosher and US FDA registration, and are SEDEX audited, which is what makes the product acceptable to multinational procurement teams with strict vendor standards. - **Onion and garlic are the backbone** - daily processing capacity is 20 metric tons of dehydrated onion, 30 metric tons of dehydrated garlic and 5 metric tons of other vegetables, with output sold in forms like flakes, minced, granules and powder, packed in standard cartons or to custom specifications. - **Cold storage is the hidden factory** - the company needs to preserve fresh produce before drying, so it maintains roughly 5,000 tons of cold storage (running at 80% utilisation) and has approved the addition of another 1,600 tons, because a break in the cold chain would idle the dehydration lines. - **Paid per kilo, recognised on dispatch** - domestic revenue is booked when goods leave the point of sale and export revenue on the “shipped on board” date, with export incentives added when reasonably estimable, making the transaction model straightforward: one-time sale, risks transferred, performance obligation complete. # Group structure and partners **Oceanic is a standalone company with no subsidiaries or joint ventures, controlled by a single promoter family that recently restructured its shareholding after an internal settlement.** - **Promoter-held and listed** - as of March 2025, promoters and the promoter group owned 74.07% of the company, with Chairman and Managing Director Mr. Ajesh Vinodrai Patel holding that entire stake following the family settlement, while the shares trade on the BSE under code 540405. - **A family dispute, now resolved** - a control battle reached the NCLT in 2022, freezing bank accounts and leading to the withdrawal of credit facilities by HDFC Bank; the matter was settled amicably in May 2024 through an MOU, with shares held by Tulan V. Patel and other family members transferred to Ajesh V. Patel, restoring operational stability. - **Related-party ties in the supply chain** - the company sells finished goods to Julyys Foods (a proprietorship of the director’s wife) and has proposed acquiring a 2,500-5,000 ton cold storage unit from it via slump sale in FY 2031-32, while also transacting with VDP Foods, a firm connected to the founder, for goods and property leases under an arm’s-length cap of ₹250 crores. - **Expanding the legal mandate** - in early 2025, shareholders approved new objects in the Memorandum of Association allowing the company to trade in coal, salt and other food items, though the dehydration business remains the sole operating segment.