Uniroyal Marine Exports Limited is a Kerala-based seafood processing firm specializing in the **purchasing, processing, curing, canning, freezing, and exporting** of high-value marine products. Operating from its strategic base in **Calicut**, the company focuses on international markets, particularly the **USA and the European Union**. Currently, the company is navigating a critical **financial restructuring** phase, utilizing asset monetization to stabilize its balance sheet while maintaining its operational footprint through a sale-and-leaseback model. --- ### **Strategic Geographic & Technological Advantage** The company’s operational efficiency is anchored by its proximity to the primary fish landing centers of North Kerala, specifically **Beypore and Puthiyappa**. This location minimizes transit times and ensures the freshness of raw materials. * **Advanced Processing:** The facility utilizes **Individually Quick Frozen (IQF)** technology, which allows for high value-addition and meets the premium standards of global buyers. * **Global Certifications:** * **USA:** Holds **Green Channel Status** for the export of cooked products. * **European Union:** Maintains specific approvals for exporting both **IQF and Block fishery products**. * **Quality Benchmarks:** Operations are strictly compliant with **HACCP (Hazard Analysis and Critical Control Point)** standards and the **Food Safety and Standards Act, 2006**. --- ### **Core Product Portfolio & Revenue Segments** While the company has diversified into domestic markets and third-party processing, its primary economic driver remains the international export of shrimp and prawns. | Segment | Description | Strategic Status | | :--- | :--- | :--- | | **Export Sales** | Focus on **Prawns, Monodon, and Vannamei**. | **Primary Revenue Driver** | | **Job Work** | Processing marine products for third parties. | Incidental/Capacity Filler | | **Domestic Sales** | Local market supply within India. | Non-significant | **Research & Development (R&D) Focus:** The company’s R&D initiatives are not merely academic but are integrated into the production line to achieve: * **Product Diversification:** Developing a **variety of products** to meet specific customer technical specifications. * **Capacity Utilization:** Engineering processes to enhance **productivity** and technological absorption. * **Quality Consistency:** Systematic upgrades to ensure **repeat orders** from a global clientele. --- ### **Financial Performance & Liquidity Profile** The company has faced significant headwinds, resulting in a **fully eroded net worth**. However, management continues to operate on a **going concern** basis, supported by a marginal surplus of current assets over liabilities. **Key Financial Metrics:** | Metric | FY 2022-23 | Nov 2024 (Interim) | | :--- | :--- | :--- | | **Total Turnover** | **₹28.78 Crore** | - | | **Export Earnings (FOB)** | **₹24.70 Crore** | - | | **Post-Tax Profit/(Loss)** | **(₹52.46 Lakhs)** | **Loss Incurred** | | **Current Ratio** | - | **1.11x** | | **Cash & Bank Balances** | - | **₹1.81 Crore** (incl. deposits) | **Export Incentives:** To bolster liquidity, the company aggressively utilizes government schemes: * **Duty Draw Back:** Direct refunds on duties paid. * **RODTEP:** Earning **Duty Credit Scrips** from the D.G.F.T., which are encashed via sales to importers to provide immediate working capital. --- ### **The "Sale and Leaseback" Restructuring Plan** To address outstanding statutory and operational liabilities, the company is executing a major asset monetization strategy approved by shareholders on **July 31, 2025**. * **The Asset:** **180 cents** of land and buildings located at **Chamancheri, Vengalam, Calicut**. * **Valuation:** The land is valued at **₹15.84 Crore** and the building at **₹3.08 Crore** by an independent registered valuer. * **The Mechanism:** An **open bid/public tender process** ensures transparency. * **Operational Continuity:** A mandatory clause requires the buyer to **lease the building back** to Uniroyal Marine Exports Limited, ensuring that processing operations continue without relocation or interruption. --- ### **Supply Chain Dynamics & Risk Mitigation** The seafood industry is inherently volatile, and Uniroyal faces several systemic risks that management actively monitors: * **Raw Material Volatility:** Heavily dependent on **natural sea-caught material**, making production highly seasonal. * **Biological Risks:** Cultured shrimp (Vannamei) are susceptible to **virus and disease outbreaks**, which can lead to sudden supply shortages. * **Market Risks:** * **Currency:** Realizations are highly sensitive to the **Rupee-Dollar exchange rate**. * **Pricing:** Selling prices are dictated by **international market trends** rather than local cost-plus models. * **Inventory Management:** Frozen stocks, particularly **deep-sea prawns**, are maintained based on seasonal availability; all stocks are strictly monitored to remain within **shelf-life** limits. --- ### **Governance & Corporate Infrastructure** The company is currently strengthening its leadership to oversee the financial transition and ensure regulatory compliance. **Board Leadership (Effective Oct 2025 – Oct 2030):** * **Mr. Sachu Rajan Eapen:** Non-Executive Independent Director & Chairman (Second Term). * **Mr. Ganesh Mohan:** Non-Executive Independent Director (First Term). **Operational Compliance:** * **Internal Controls:** Audits are conducted by an **independent Chartered Accountant** to safeguard assets. * **Registrar:** **Link Intime India Private Limited** manages share transfers. * **Workforce:** The company has streamlined its operations, with a direct headcount of **48 personnel** as of March 2025 (reduced from **78** in the previous year) to optimize costs. * **Legal Status:** There are no pending proceedings under the **Benami Property Transactions Act**, and the company maintains clear title deeds for all immovable properties.