Aquaculture · Founded 1992 · www.nccbpl.com · BSE 519506 · · ISIN INE630N01019
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Business
NCC Blue Water Products Ltd. is an aquaculture company based in India. Its core business revolves around the farming and production of aquatic organisms, likely including shrimp and various fish species, given its sector and industry classification. The company's business model involves breeding, culturing, harvesting, and potentially processing seafood products. It generates revenue by selling its harvested aquatic products to domestic and international markets, which could include other processors, distributors, or direct retailers.
Revenue Mix
Specific, publicly available data on NCC Blue Water Products Ltd.'s key segments and precise revenue mix is not detailed. However, based on its industry, the primary source of revenue is expected to be from:
Sale of farmed aquatic products: This would include raw shrimp, fish, or other farmed seafood.
It may also have segments related to processing and value-added products, though this cannot be confirmed without specific company data.
Industry
The Indian aquaculture industry is a significant global player, particularly in shrimp production. It is characterized by a mix of small-scale farmers and larger organized corporate players. The industry is driven by increasing global demand for seafood, especially from markets like the USA, Europe, and Asia. NCC Blue Water Products Ltd., as an aquaculture company, operates within this competitive landscape. Without specific market share data, its exact positioning relative to larger integrated players or smaller regional farms is difficult to ascertain, but it is one of several companies vying for market share in the growing seafood sector.
MOAT
Without specific operational details, it is challenging to identify a strong, durable competitive advantage (moat) for NCC Blue Water Products Ltd. Potential moats in the aquaculture industry could include:
Scale of operations: Achieving cost efficiencies through large-scale farming and processing.
Proprietary farming techniques or genetics: Superior seedstock or disease management protocols.
Geographic advantage: Access to ideal farming locations, clean water sources, or proximity to key markets/ports.
Strong distribution networks: Established relationships with key buyers in domestic or international markets.
Brand reputation: If they sell processed or branded products directly to consumers.
The presence and strength of these advantages for NCC Blue Water Products Ltd. would require more in-depth company-specific analysis.
Growth Drivers
Key factors that could drive growth for NCC Blue Water Products Ltd. over the next 3-5 years include:
Rising global demand for seafood: Increasing population, health consciousness, and disposable incomes are boosting seafood consumption.
Expansion of export markets: Favorable trade policies and demand from key importing nations.
Technological advancements: Improved feed conversion ratios, disease-resistant varieties, and better farming practices can enhance productivity and reduce risks.
Diversification into high-value species or value-added products: Shifting towards premium products or processed items can improve margins.
Government support: Policies promoting aquaculture development, subsidies, and infrastructure improvements.
Risks
NCC Blue Water Products Ltd. faces several inherent risks:
Disease outbreaks: Aquaculture is highly susceptible to diseases (e.g., White Spot Syndrome in shrimp) which can decimate stock and lead to significant financial losses.
Environmental factors: Reliance on stable water quality, temperature, and weather patterns makes operations vulnerable to climate change, pollution, and extreme weather events.
Commodity price volatility: Fluctuations in feed costs, fuel prices, and the market price of farmed seafood can impact profitability.
Regulatory changes: Evolving environmental norms, import/export regulations, and food safety standards can impose additional costs or restrictions.
Competition: Intense competition from domestic and international players can put pressure on prices and margins.
Sustainability concerns: Growing scrutiny over environmental impact and ethical farming practices could affect market access or brand perception.
Management & Ownership
As a publicly listed company in India, NCC Blue Water Products Ltd. likely has a promoter group (founding family or core investor group) that holds a significant stake and plays a key role in its management. Without specific information, it is not possible to comment on the quality or specific background of the current management team or the detailed ownership structure beyond general public and promoter holdings.
Outlook
The outlook for NCC Blue Water Products Ltd. is balanced between the promising growth trajectory of the aquaculture sector and its inherent operational risks. The growing global demand for protein and seafood positions the company in a sector with structural tailwinds. India's strong position in aquaculture exports further enhances its potential for market expansion. However, the business is highly susceptible to biological risks like disease outbreaks, environmental changes, and volatile commodity prices, which can significantly impact profitability. Success will largely depend on the company's ability to implement robust biosecurity measures, adopt efficient farming technologies, navigate market price fluctuations, and effectively manage its supply chain and distribution in a competitive environment.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 4 | 0 | 0 | 0 | 3 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 4 | 0 | 0 | 1 | 3 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 4 | -0 | 0 | 1 | 2 | 0 | 0 |
| Adjustments | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Profit After Adjustments | 0 | 0 | 0 | 4 | -0 | 0 | 1 | 2 | 0 | 0 |
| Adjusted Earnings Per Share | 0.2 | 0.1 | 0 | 4.8 | -0.4 | 0.1 | 0.7 | 2.8 | 0.2 | 0.1 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 1 | 36 | 1 | 4 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Total Income | 0 | 1 | 36 | 1 | 4 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Total Expenditure | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | 0 | 0 | 36 | -0 | 4 | 1 | 1 | 0 | 0 | 1 | 0 | 0 |
| Interest | 0 | 0 | 28 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 3 |
| Profit Before Tax | 0 | 0 | 8 | -0 | 4 | 1 | 1 | 0 | 0 | 1 | 5 | 4 |
| Provision for Tax | -0 | -0 | 1 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Profit After Tax | 0 | 0 | 7 | -0 | 4 | 1 | 0 | 0 | 0 | 0 | 3 | 3 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 7 | -0 | 4 | 1 | 0 | 0 | 0 | 0 | 3 | 3 |
| Adjusted Earnings Per Share | 0.1 | 0.5 | 8.9 | -0.5 | 4.9 | 1 | 0.5 | 0.4 | 0.4 | 0.6 | 4.5 | 3.8 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | 0% |
| Operating Profit CAGR | -100% | 0% | -100% | 0% |
| PAT CAGR | 0% | 0% | 25% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -13% | 28% | 47% | NA% |
| ROE Average | 35% | 15% | 11% | 13% |
| ROCE Average | 46% | 20% | 15% | 140% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | -5 | -4 | 3 | 2 | 6 | 7 | 7 | 7 | 8 | 8 | 12 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 7 | 7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1 | 1 | 1 | 0 | -1 | -1 | -1 | -0 | -0 | -0 | 0 |
| Total Current Liabilities | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 3 | 3 | 3 | 3 | 6 | 7 | 7 | 7 | 7 | 8 | 12 |
| Fixed Assets | 2 | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 1 | 1 | 2 | 1 | 5 | 7 | 6 | 7 | 7 | 7 | 12 |
| Total Assets | 3 | 3 | 3 | 3 | 6 | 7 | 7 | 7 | 7 | 8 | 12 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 1 | 1 | 1 | 1 | 5 | 6 | 6 | 7 | 7 | 7 |
| Cash Flow from Operating Activities | 0 | 0 | -1 | -0 | -0 | 1 | 0 | 0 | 0 | 0 | 1 |
| Cash Flow from Investing Activities | 0 | 0 | 36 | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Financing Activities | 0 | 0 | -35 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 |
| Net Cash Inflow / Outflow | 1 | 0 | 0 | -0 | 4 | 1 | 0 | 0 | 0 | 0 | 1 |
| Closing Cash & Cash Equivalent | 1 | 1 | 1 | 1 | 5 | 6 | 6 | 7 | 7 | 7 | 8 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.09 | 0.49 | 8.87 | -0.47 | 4.87 | 1.04 | 0.53 | 0.41 | 0.44 | 0.56 | 4.51 |
| CEPS(Rs) | 0.16 | 0.55 | 8.92 | -0.44 | 4.87 | 1.04 | 0.53 | 0.41 | 0.44 | 0.56 | 4.51 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -6.09 | -5.6 | 3.28 | 2.8 | 7.67 | 8.72 | 9.25 | 9.66 | 10.09 | 10.66 | 15.17 |
| Core EBITDA Margin(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT Margin(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre Tax Margin(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PAT Margin (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Profit Margin (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROA(%) | 2.41 | 12.18 | 210.01 | -12.47 | 87.72 | 12.46 | 5.97 | 4.65 | 4.67 | 5.67 | 35.16 |
| ROE(%) | 0 | 0 | 0 | -15.54 | 92.97 | 12.74 | 5.87 | 4.34 | 4.42 | 5.43 | 34.94 |
| ROCE(%) | 0.22 | 15.33 | 1363.77 | -19.87 | 90.02 | 16.74 | 7.92 | 6 | 5.92 | 7.37 | 45.99 |
| Receivable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 1.65 | 6.53 | 5.54 | 12.64 | 13.76 | 19.79 | 2.99 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 1.05 | 0.78 | 0.32 | 0.54 | 0.59 | 1.05 | 0.89 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Core EBITDA(x) | 228.58 | 32.61 | 0.18 | -14.66 | 0.37 | -0.37 | -6.95 | -5.68 | -5.02 | 2.11 | 7.97 |
| Net Sales Growth(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT Growth(%) | 101.19 | 7533.73 | 9319.79 | -101.31 | 880.75 | -70.9 | -48.15 | -20.28 | 3.07 | 30.79 | 676.61 |
| PAT Growth(%) | 120.93 | 467.92 | 1701.05 | -105.32 | 1131.06 | -78.56 | -49.54 | -22.09 | 6.19 | 29.24 | 700.66 |
| EPS Growth(%) | 120.92 | 468.17 | 1700.99 | -105.32 | 1131.03 | -78.56 | -49.54 | -22.09 | 6.19 | 29.24 | 700.64 |
| Debt/Equity(x) | -1.48 | -1.62 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 5.45 | 15.68 | 12.51 | 7.99 | 7.26 | 7.45 | 169.37 | 126.59 | 89.87 | 85.32 | 75.47 |
| Quick Ratio(x) | 5.45 | 15.68 | 12.51 | 7.99 | 7.26 | 7.45 | 169.37 | 126.59 | 89.87 | 85.32 | 75.47 |
| Interest Cover(x) | 21.51 | 4248.81 | 1.28 | -26.45 | 599.13 | 0 | 5514 | 137.38 | 4531 | 311.89 | 0 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
| Public | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | — | — |
| Operating Profit CAGR | -100% | — | -100% | — |
| PAT CAGR | — | — | +25% | — |
| Share Price CAGR | -13% | +28% | +47% | — |
| ROE Average | +35% | +15% | +11% | +13% |
| ROCE Average | +46% | +20% | +15% | +140% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 | 35.92 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
| Public | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 | 63.09 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 |
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