Sharat Industries Ltd.

Sharat Industries Ltd
India’s Oldest Integrated

Aquaculture Company
Hatchery | Farm | Feed Mill | Processing Plant
Investor Presentation
Q3FY2024
Sharat Industries Limited. | Investor Presentation | Q3FY24
About Quarterly Value Growth Annual Industry
Disclaimer Us Financials Proposition Drivers Financials Overview
This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any securities of
Sharat Industries Ltd (“SIL”, “Sharat” or "Company“), nor shall part, or all, of this document form the basis of, or be relied on in connection with, any
contract or investment decision in relation to any securities of the Company.
This document is strictly confidential and may not be copied, published, distributed or transmitted to any person, in whole or in part, by any medium or
in any form for any purpose. The information in this document is being provided by the Company and is subject to change without notice. The Company
relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness.
This document contains statements about future events and expectations that are forward-looking statements. These statements typically contain words
such as "expects" and "anticipates" and words of similar import. Any statement in this document that is not a statement of historical fact is a forward
looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking
statements. None of the future projections, expectations, estimates or prospects in this document should be taken as forecasts or promises nor should
they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or
prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the document. The Company assumes no
obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting
these statements.
You acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will
conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.
Sharat Industries Limited. | Investor Presentation | Q3FY24 2

Table of Content Us Financials Proposition Drivers Financials Overview
01 About Us 03 Business Overview

❑About Us ❑Value Proposition
❑Integrated Operations ❑Growth Drivers
❑Our Journey ❑Capacity Utilization Improvement
❑ Top Management ❑Technology in Aquaculture
02 Financials 04 Industry Overview
❑Quarterly Financials ❑Global Industry

❑Annual Financials ❑Indian Industry

About Us Us Financials Proposition Drivers Financials Overview
Strategically located 1990 25+ 30+ 10+ 500

Year of Export Domestic
Export Countries Acres Land
Establishment Customer Base Customer Base
A pioneer in introducing Vannamei (white shrimp) breeding and culture in India which was
instrumental in the revival of aquaculture industry in India in 2009.
Sharat Industries’ business divisions and their offerings

Business Capacity Offerings
divisions (Per year)
Hatchery 500 million Produces Vannamei seedlings (First hatchery in the country to have
seedlings introduced and nativised this species)
Long-term association with SIS, Florida
Uses only specific pathogen free (SPF) brood-stock to ensure stringent
quality and disease resistant seedlings
Farm 2000 500 acre farm located on the coast of the Bay of Bengal
tonnes Shrimp Proximity to sea enables the use of sea water for the farming operations.
Significant investment in infrastructure to mitigate risk and increase
Andhra output at farm level.
Pradesh
Feed Mill 22,500 Produces high quality and nutritional shrimp feed marketed under
Extensive Network tonnes VANNASTAR brand and widely accepted by farmers
Presence Processing 7,500 Plant with state-of-the-art infrastructure and ultra modern processing
Plant tonnes frozen equipment
Shrimp Ensures processed products are antibiotic free and high quality

Integrated Operations Us Financials Proposition Drivers Financials Overview
Hatchery Feed Mill
01 02
Processing Plant Farms
04 03

Our Journey Us Financials Proposition Drivers Financials Overview
1998-2004 2004-2020
1990-1994 1998-99: WSSV disease 2004-05: Pilot Project of

2021-2023
threat and industry slump. Vannamei at advanced stage 2021: Company posts
1990: Sharat Sea Foods
Share trading stopped steady performance amidst
registered
Feed plant operations began 2007-09: Vannamei a difficult operational
with International tie-up commercial success, conditions in domestic and
1991: Land procured and
previous losses erased. global markets
farm operations started
2001: Processing Plant Upward trend in company
(Black Tiger)
operations started performance 2022: Looking to widen
1994: Hatchery operations product offerings
2000-2004: Scampi 2009: Govt. permits
started and IPO issued : 8
production and industry Vannamei
times over subscribed. Rs.
revival. Trials for Vannamei
22 crores share capital
in progress. 2011: Commercial feed
received.
operations commenced. EU
exports stabilization
2020: Despite prevalence of

COVID and related factors,
company exhibits 25%
growth

Top Management Us Financials Proposition Drivers Financials Overview
Mr S Prasad Reddy Mr S Sharat Reddy

Managing Director Executive Director
Qualification: Qualification:
• Post-graduate in Sociology from Jamia Millia Islamia (University in Delhi) • Bachelor’s Degree in Mechanical Engineering from College of Engineering, Guindy
• Master's degree in Industrial Engineering and Operations Research from:
Professional work experience: Pennsylvania State University (USA)
• A first-generation entrepreneur with nearly 4 decades of experience, he is Professional work experience:

considered as a visionary in the seafood sector and was instrumental in • Sharat has been involved with operations at SIL since the last 10 years.
conceptualizing and setting up Sharat Industries Ltd as an integrated • He is currently responsible for creating the roadmap for the future of SIL, driving
aquaculture company. strategy, and implementing operational priorities aligned with the overall
organizational growth.
• He is widely regarded as a pioneer in the sector owing to his efforts in • Sharat has a holistic understanding of finance, management, operations, and
introducing the Vannamei Species of Shrimp in India, spurring a revolution sales/marketing and has played a key role in the growth of the company over the last
in the aquaculture industry. 5 years.
• He is focused on innovation and leveraging technology for higher efficiency in the
business.

Us Financials Proposition Drivers Financials Overview
Quarterly Financials
Sharat
Sharat Industries
Industries Limited.
Limited. || Investor
Presentation | Q3FY24 8
Performance Highlights - 9MFY24 Us Financials Proposition Drivers Financials Overview
Rs. 7.7% 2.3%

18.4 Cr
2.9% +117 bps +4 bps

YoY YoY YoY
EBIDTA EBIDTA Margin PAT Margin

Summary of Quarterly Financials Us Financials Proposition Drivers Financials Overview
Rs crore
Particulars (INR Crore) Q3FY24 Q2FY24 Q3FY23 YoY% QoQ% 9MFY24 9MFY23 YoY%
Revenue from Operations 60.8 96.8 85.3 - 28.8 - 37.3 237.5 269.9 - 12.0
Other Income 0.1 0.4 1.5 - 94.1 - 78.5 0.7 3.1 - 76.5
Total Income 60.8 97.3 86.9 - 29.9 - 37.4 238.2 273.0 - 12.8
Total Expenditure 56.1 89.6 80.9 - 30.7 - 37.5 219.9 255.2 - 13.8
EBITDA 4.8 7.6 6.0 - 20.1 - 37.2 18.4 17.8 2.9
EBITDA Margin (%) 7.9% 7.8% 6.9% 97 bps 3 bps 7.7% 6.5% 117 bps
Depreciation 1.2 1.2 1.1 10.6 - 1.1 3.5 3.1 12.3
Profit Before Interest & Tax 3.6 6.4 4.9 - 26.6 - 43.8 14.9 14.7 0.9
Interest 2.4 2.5 2.4 - 1.2 - 4.7 7.2 6.1 18.2
Profit Before Tax 1.2 3.9 2.5 - 51.3 - 68.9 7.6 8.6 - 11.4
Tax 0.3 1.1 0.7 - 55.6 - 72.1 2.1 2.4 - 12.0
Profit After Tax 0.9 2.8 1.8 - 49.7 - 67.7 5.5 6.2 - 11.2
PAT Margin (%) 1.5% 2.9% 2.1% - 59 bps - 140 bps 2.3% 2.3% 4 bps
EPS (Rs) (calculated on PAT) 0.38 1.17 0.76 - 49.7 - 67.7 2.31 2.60 - 11.2
Note: EBITDA is before Other Income and is the Core Operating Income

Value Proposition
& Growth Drivers
Sharat
Sharat Industries
Industries Limited.
Value Proposition Us Financials Proposition Drivers Financials Overview
Competitive advantage Operational highlights Product portfolio & certifications

Three decades of experience. The export division contributes to A range of 10 raw and 3 Cooked
Strong brand recall. roughly two thirds of the overall White-Shrimp products, as per
revenue. customer’s specifications.
Strategically located aquaculture
farm and processing plant ensuring Feed division contributes to 4 broad varieties of Shrimp feed.
freshest quality shrimp for approximately 25% of the overall Unwavering focus on quality with
processing. revenue. Farm and hatchery following certifications – EIC, HACCP
contribute to the rest. , ISO 22000 : 2005, BRC - A Grade,
Well-integrated farmer network to
ensure product traceability and the Exports Sales to grow at 15-20% FDA, BSCI, BAP 4 Star, EU approved.
procurement of healthy, antibiotic- CAGR over the next 5 years. FSSAI approval for the process plant
free shrimp. Company constantly focusses on R&D lays a platform for future sales of
Vertically integrated to ensure to improve operational efficiency of frozen shrimp in the domestic
quality of the product at every divisions and overall product quality. market.
stage.

Key Growth Drivers Us Financials Proposition Drivers Financials Overview
Increase Capacity Utilisation Forward integration

❑ Forward integration and strategic partnerships ❑ Higher value added products
will help increase capacity utilisation to 90%
over the next 3-5 years Increase
01 Forward
Integration ❑ Invested Rs 4.5 cr to upgrade cooking line /
machinery
❑ Will create significant operating leverage in the Capacity ❑ Opportunity to enhance exports
Utilisation
business
❑ Improve overall margins by 200 bps over the
next 3-5 years
Targeted CAGR 02 ❑ Opportunity to target premium customers
❑ Improve overall margins by 200 bps over the
next 3-5 years
(4-5 year period)
Revenue 15-20%
EBIDTA 20-25%
PAT 25-30%
Technology; R&D efforts
❑ Technology based interface for operations
04 Strategic
Strategic partnerships
❑ Technical collaboration with global / international
❑ Improve supply chain & end traceability for Partnerships players to increase capacity utilisation of farm
products operations
❑ Pilot farming with UAL Biotech for improved
output despite extreme weather.
Technology
R&D efforts 03 ❑ Contract farming
❑ JV with strategic players / large corporate farmers
❑ Collaborate to setup a RAS farm (Recirculating ❑ Improve overall margins by 150 bps over the next
aquaculture System) which will help cater up to 3-5 years
50% of overall demand at its processing systems.
❑ Taken measures to improve biosecurity thereby
reducing risk of disease & shrimp mortality

Key factors that will drive EBITDA Margin Us Financials Proposition Drivers Financials Overview
▪ Forward integration into higher value- ▪ Technical collaboration with foreign company
added shrimp products / technology partner
FY26
▪ Invested Rs. 4.5 Cr in upgrading its
cooking line/ machinery. 9-11%
▪ This will play a key role in increasing
export revenue and profitability in the
coming years.
▪ Enable SIL to access premium customers
(such as retail chains, restaurants, etc.) Up to 200 bps
Up to 150 bps
Up to 200 bps ▪ Increase Effective capacity utilization

▪ Indicated strategies and technology will
enable SIL to boost its overall capacity
utilisation from roughly 45% presently to
FY23 ▪ Currently establishing a joint venture with a
about 90% over the next 3-5 years.
▪ This will reduce the impact of high fixed
technology partner to increase the costs on operations and bring about
6.50% contribution from farm operations .
▪ Contract farming, JV association with strategic
more consistency in operations, leading
to better profitability
players , large/corporate farmers
Forward integration Strategic Partnerships Increase capacity utilisation

Key factors driving Capacity Utilisation Us Financials Proposition Drivers Financials Overview
✓ Higher share of value-added products
✓ Target premium customers

FY26
✓ Partner with foreign players & technology partners
90%
to increase the contribution from farm operations
✓ Contract farming
✓ Contract manufacturing
✓ Partner with large corporate farmers

FY23
✓ Investments in technology
50%

Technology in Aquaculture Us Financials Proposition Drivers Financials Overview
Combining Technology & Innovation

01 By leveraging technology, SIL aims to improve the operational efficiency across the
various divisions of its supply chain.
End to End Traceability

02 For it’s processed products through software & a series of IOT devices. Use of
blockchain technology will improve data transparency in both domestic & exports
market
Renewable Energy
To run existing operations, thereby taking significant steps towards macro-level
03 sustainability. With sufficient captive consumption capacities / requirement and vast
extent of land available, the company is likely to adopt these measures during the
next 2 financial years.
Boost in R&D
SIL will collaborate with UAL to setup a RAS project in its premises. This will enable
04 SIL to rapidly expand its shrimp production in the near future to cater to up to 50%
of its overall demand at the processing division.

SWOT analysis Us Financials Proposition Drivers Financials Overview
Strengths Weaknesses
❑ Robust farmer network ensures accurate product
traceability and the procurement of healthy,
antibiotic-free shrimp.
❑ Strategically located in Andhra Pradesh. W ❑ Disruptions in supply chains restricts the movement
of goods, which, in turn hinders the distribution and
S
manufacturing of various seafood products.
❑ 500 acres of land with 94% dedicated to farm.
❑ Lower capacity utilization.
❑ 3 decades of experience.
❑ Scope to improve use of technology to improve
❑ Strong relationships with supply chain partners.
productivity.
❑ Company has one of the largest shrimp farms in India
❑ Lower margin profile versus peers.
that has the capacity to farm over 2000 tonnes of
shrimp annually.
Opportunities Threats
❑ Increased export offerings. ❑ Sharp Jump in production from Ecuador, which was lower in
❑ Strategic partnerships for improved operational
efficiency in the shrimp farming & seafood processing T production vs India, but is now higher in production in the
current year, threatens to keep pricing under pressure
sectors.
❑ Enhanced productivity & profitability with the help of
technological advances coming through at the farm
level.
O thereby impacting overall margins.
❑ Cyclones or other weather conditions impacting productivity
and output from our farms.
❑ An unprecedented increase in international ocean freight,
❑ Product development at the seafood processing with a dearth of liners, which can adversely affect freight cost
division to delve further into value-added production ❑ Increase in pricing of certain critical commodities can lead to
to augment profitability in the export and domestic increase of feed manufacturing costs.
markets.

Annual Financials
Sharat
Sharat Industries
Industries Limited.
Summary of Annual Income Statement Us Financials Proposition Drivers Financials Overview
Rs crore
Particulars FY19 FY20 FY21 FY22 FY23
Income from Operations 195.65 201.7 252.8 248.1 336.0
EBIDTA 12.42 13.3 13.08 14.51 21.91
EBIDTA Margin (%) 6.3% 6.6% 5.2% 5.8% 6.5%
Profit After Tax 2.89 1.8 2.61 3.46 6.54
PAT Margin (%) 1.5% 0.9% 1.0% 1.4% 1.9%
Earnings Per Share (Rs) 1.32 0.82 1.19 1.53 2.74

Summary of Annual Balance Sheet Us Financials Proposition Drivers Financials Overview
Rs crore
Particulars (INR Crore) FY21 FY22 FY23 Particulars (INR Crore) FY21 FY22 FY23
Equity and Liabilities Assets
Equity Non-Current Assets
Equity Share Capital 22.0 23.9 23.9 Property, Plant & Equipment 42.3 45.9 49.3
Other Equity 35.4 46.4 54.8 Capital Work-In-Progress 2.1 2.5 1.4
Total Equity 57.4 70.4 78.7 Intangible Assets 0.0 0.0 -
Intangible Assets under development - - -
Non-Current Liabilities Financial Assets - - 0.0
Financial Liabilities Deferred Tax Assets - - -
- Borrowings 17.0 12.3 10.5 Other Non-Current Assets 2.5 2.5 2.5
- Other Financial Liabilities 5.6 4.8 5.0 Trade Receivables 4.8 5.2 4.4
- Trade Payables 1.8 0.8 0.2 Total Non-Current Assets 51.7 56.1 57.6
Provisions 0.1 0.1 0.3
Deferred Tax Liabilities (Net) 1.1 1.4 2.3 Current Assets
Total Non-Current Liabilities 25.6 19.5 18.3 Inventories 65.3 54.9 55.1
Financial Assets
Current Liabilities - Investments - -
Financial Liabilities - Trade Receivables 41.8 56.6 56.0
- Borrowings 64.7 76.9 78.8 - Cash & Cash Equivalents 1.5 4.6 8.5
- Trade Payables 26.7 12.6 16.0 - Bank Balances other than cash 2.9 1.0 3.5
- Other Financial Liabilities 0.0 0.0 0.1
- Others 8.7 3.9 4.7
Other Current Liabilities 0.1 1.0 0.2
Other Current Assets 9.0 9.0 12.3
Provisions 6.4 5.8 5.7
Total Current Liabilities 98.0 96.3 100.8 Total Current Assets 129.3 130.0 140.2
Total Equity and Liabilities 181.0 186.2 197.8 Total Assets 181.0 186.2 197.8

Seafood
Industry Assessment
Sharat
Sharat Industries
Industries Limited.
Global Seafood Industry Us Financials Proposition Drivers Financials Overview
Seafood market to grow at a CAGR of 2.9% during 2022-30

Seafood products are classified as:
▪ Capture fisheries - aquatic species from natural water bodies
▪ such as the sea, lakes, ponds, etc.
▪ Aquaculture - species cultivated in aquaculture farms under
controlled conditions in marine, fresh or brackish water
❑ The global seafood market size was valued at USD 163.1 billion in 2021
and is projected to surpass around USD 210.4 billion by 2030 with a
notable CAGR of 2.87% from 2022 to 2030.
❑ The highest contributor to the market was the fish segment with $101.5
Billion in 2019, and is projected to reach $125.9 Billion by 2030, at a CAGR
of 2.7% during the forecast period.
❑ It's demand is rising because of rising population and incomes,

availability of a variety of fish, rising awareness of health benefit from
high protein content, and improving infrastructure of supply channels
(cold chain).
Source: Seafood Market Size to Surpass Around USD 210.4 Billion by (globenewswire.com)
Sharat
Sharat Industries
Industries Limited.
Indian Seafood Industry Us Financials Proposition Drivers Financials Overview
• India’s share in global seafood trade is set to rise from 4.1% to 6.7% by 2030 supported by the Blue
Revolution.
• The industry had attained an all-time record of US$ 7.76 billion worth Seafood Exports during the Financial
Year 2021-22.
• Andhra Pradesh accounted for 60% of this export basket.
• USA and China major export destinations. EU market likely to see a rise in demand in upcoming years.
Domestic market demand for processed seafood set to increase during the next 7-8 years.
4th largest 70% USD 7 Bn+

Expected Shrimp
43% : USA
15% : China
Exporter in the Global exports in the & Europe
Market Of exports are
upcoming years % of Exports of
shrimps
Indian Seafood
8,118 Km
2x 1.2 Mn+ Of extensive
coastline across: 40 Mn+
Exports by FY25 Hectares for Shrimp
9 States & People employed in
(compared to Farming
4 Union the Seafood Industry
FY22 exports) (14% utilized for
Territories
farming)
Source: https://economictimes.indiatimes.com/news/economy/foreign-trade/indias-seafood-exports-rise-15-to-1-99-billion-in-june-
quarter-official/articleshow/93526442.cms?from=mdr
Source : Indian Seafood Industry – 23rd India International Seafood Show 2023 (indianseafoodexpo.com)
Source: India’s shrimp industry adapts to COVID-19 restrictions - Responsible Seafood Advocate (globalseafood.org)
Sharat
Sharat Industries
Industries Limited.
Indian Seafood Exports Us Financials Proposition Drivers Financials Overview
1,600,000 9,000
6,729 7,760
1,400,000 7,082 8,000
6,679
5,957 7,000
1,200,000 5,778
5,511
5,008 6,000
1,000,000 3,512 4,688
USD mn
5,000
(MT)
800,000
4,000
600,000
3,000
400,000 2,000
200,000 1,000
0 0
2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
Quantity in MT Value in USD Mn
Period 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
Quantity in Tons 928,215 983,756 1,051,243 945,892 1,134,948 1,377,244 1,392,559 1,289,651 1,149,510 1,369,264
Growth (%) 5.98% 6.86% -10.02% 19.99% 21.35% 1.11% -7.39% -10.87% 19.12%
USD in Million 3,512 5,008 5,511 4,688 5,778 7,082 6,729 6,679 5,957 7,760
Source: MPEDA

Indian Vannamei Exports Us Financials Proposition Drivers Financials Overview
800,000 100%
87.4% 88.3%
75.9% 78.5%
71.1% 80%
600,000 68.7%
62.1%
58.1%
64.9% 60%
(MT)
(%)
400,000
39.9%
40%
200,000
20%
0 0%
2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
Frozen Shrimp Exports Vannamei Exports Vannamei Share (%)
Period 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
Frozen Shrimp Exports Quantity (MT) 228,620 301,435 357,505 373,866 434,484 565,980 644,145 652,253 590,275 728,123
Vannamei Exports Quantity (MT) 91,171 175,071 222,176 256,699 329,766 402,374 418,128 512,204 515,907 643,037
Vannamei Share (%) 39.9% 58.1% 62.1% 68.7% 75.9% 71.1% 64.9% 78.5% 87.4% 88.3%
Source: MPEDA

Thank You
Contact Us
Sharat Industries Ltd KAPTIFY Consulting

Email: chennai@sharatindustries.com Integrated Reporting
Contact : +91-44-43114304 Email: contact@kaptify.in
www.sharatindustries.com Contact : +91-845 288 6099
www.kaptify.in
Sharat
Sharat Industries
Industries Limited.
Presentation | Q3FY24 26 26

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Sharat Industries Ltd

India’s Oldest Integrated

Disclaimer Us Financials Proposition Drivers Financials Overview

Sharat Industries Limited. | Investor Presentation | Q3FY24 2

Table of Content Us Financials Proposition Drivers Financials Overview

01 About Us 03 Business Overview

02 Financials 04 Industry Overview

❑Quarterly Financials ❑Global Industry

Sharat Industries Limited. | Investor Presentation | Q3FY24 3

About Us Us Financials Proposition Drivers Financials Overview

Strategically located 1990 25+ 30+ 10+ 500

Sharat Industries’ business divisions and their offerings

Sharat Industries Limited. | Investor Presentation | Q3FY24 4

Integrated Operations Us Financials Proposition Drivers Financials Overview

Hatchery Feed Mill

Processing Plant Farms

Sharat Industries Limited. | Investor Presentation | Q3FY24 5

Our Journey Us Financials Proposition Drivers Financials Overview

1990-1994 1998-99: WSSV disease 2004-05: Pilot Project of

2020: Despite prevalence of

Sharat Industries Limited. | Investor Presentation | Q3FY24 6

Top Management Us Financials Proposition Drivers Financials Overview

Mr S Prasad Reddy Mr S Sharat Reddy

• A first-generation entrepreneur with nearly 4 decades of experience, he is Professional work experience:

Sharat Industries Limited. | Investor Presentation | Q3FY24 7

Performance Highlights - 9MFY24 Us Financials Proposition Drivers Financials Overview

Rs. 7.7% 2.3%

2.9% +117 bps +4 bps

EBIDTA EBIDTA Margin PAT Margin

Sharat Industries Limited. | Investor Presentation | Q3FY24 9

Summary of Quarterly Financials Us Financials Proposition Drivers Financials Overview

Sharat Industries Limited. | Investor Presentation | Q3FY24 10

Value Proposition Us Financials Proposition Drivers Financials Overview

Competitive advantage Operational highlights Product portfolio & certifications

Sharat Industries Limited. | Investor Presentation | Q3FY24 12

Key Growth Drivers Us Financials Proposition Drivers Financials Overview

Increase Capacity Utilisation Forward integration

Sharat Industries Limited. | Investor Presentation | Q3FY24 13

Up to 200 bps ▪ Increase Effective capacity utilization

Forward integration Strategic Partnerships Increase capacity utilisation

✓ Higher share of value-added products

✓ Target premium customers

✓ Partner with large corporate farmers

Sharat Industries Limited. | Investor Presentation | Q3FY24 15

Technology in Aquaculture Us Financials Proposition Drivers Financials Overview

Combining Technology & Innovation

End to End Traceability

Sharat Industries Limited. | Investor Presentation | Q3FY24 16

SWOT analysis Us Financials Proposition Drivers Financials Overview

Sharat Industries Limited. | Investor Presentation | Q3FY24 17

Summary of Annual Income Statement Us Financials Proposition Drivers Financials Overview

Particulars FY19 FY20 FY21 FY22 FY23

Income from Operations 195.65 201.7 252.8 248.1 336.0

EBIDTA 12.42 13.3 13.08 14.51 21.91

EBIDTA Margin (%) 6.3% 6.6% 5.2% 5.8% 6.5%

Profit After Tax 2.89 1.8 2.61 3.46 6.54

PAT Margin (%) 1.5% 0.9% 1.0% 1.4% 1.9%

Earnings Per Share (Rs) 1.32 0.82 1.19 1.53 2.74

Sharat Industries Limited. | Investor Presentation | Q3FY24 19

Summary of Annual Balance Sheet Us Financials Proposition Drivers Financials Overview