Aquaculture · Founded 1983 · www.vistaramar.com · BSE 538565 · · ISIN INE878P01019
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Business
Vistar Amar Ltd. operates in the aquaculture sector in India. The company is primarily involved in the farming, harvesting, and potentially processing and distribution of aquatic organisms, likely focusing on fish, shrimp, or other seafood products. Its core business model revolves around the efficient production of these aquatic goods, leveraging farming techniques to meet demand from domestic and potentially international markets. The company makes money by selling its cultivated seafood products to wholesalers, processors, retailers, or directly to consumers, depending on its value chain integration.
Revenue Mix
Given its classification purely under "Aquaculture," Vistar Amar Ltd.'s revenue is primarily derived from the sale of its farmed aquatic products. Specific breakdown of revenue by product type (e.g., specific fish species, shrimp, etc.) or by service (e.g., feed production, processing, distribution) is not publicly detailed. However, it is reasonable to infer that the bulk of its income comes from the cultivation and sale of live or processed aquatic animals.
Industry
The Indian aquaculture industry is vast, encompassing both freshwater and marine farming. It is characterized by a mix of small-scale farmers and larger, more organized players. The industry has significant growth potential driven by rising domestic protein consumption and export demand for shrimp and certain fish species. Vistar Amar Ltd. operates within this competitive landscape. Without specific market share data, its positioning can be inferred as a participant contributing to the supply chain, potentially focusing on specific regions or product types within India. The industry is sensitive to environmental factors, disease, and global commodity prices.
MOAT
Without specific details, Vistar Amar Ltd.'s competitive advantages might stem from:
Operational Efficiency: Ability to produce seafood at a lower cost through efficient feed conversion ratios, disease management, and optimized farming practices.
Regional Expertise/Network: Strong relationships with local suppliers, distributors, or a deep understanding of specific regional farming conditions and market demands.
Specific Niche: Specialization in a high-demand or difficult-to-farm species, or adherence to specific quality/sustainability certifications that command a premium.
Integrated Operations: If the company controls multiple stages of the value chain (e.g., hatcheries, feed production, farming, processing), it can achieve cost efficiencies and quality control.
Growth Drivers
Rising Protein Demand: Increasing population and disposable incomes in India are fueling domestic demand for seafood.
Export Opportunities: Continued global demand for Indian shrimp and certain fish varieties can drive export-led growth.
Technological Advancement: Adoption of better farming techniques, genetics, and disease management can improve yields and reduce losses.
Government Support: Initiatives and subsidies from the Indian government to boost aquaculture production and exports (e.g., 'Blue Revolution' schemes).
Product Diversification: Expansion into new, higher-value species or value-added processed products.
Risks
Disease Outbreaks: Aquaculture operations are highly vulnerable to diseases (e.g., White Spot Syndrome in shrimp), which can lead to significant crop losses.
Environmental & Climate Dependency: Reliance on stable water quality, temperature, and susceptibility to extreme weather events.
Input Price Volatility: Fluctuations in the cost of feed, fuel, and other raw materials can impact profitability.
Market Price Volatility: Seafood prices can fluctuate significantly based on supply, demand, and global commodity trends.
Regulatory & Environmental Compliance: Strict regulations regarding water discharge, antibiotic use, and environmental impact can increase operational costs.
Competition: Intense competition from both domestic and international players.
Management & Ownership
As a company in India, Vistar Amar Ltd. is likely promoter-led, with the founding family or individuals holding a significant stake and playing a key role in strategic decision-making and daily operations. The quality of management would be critical in navigating the inherent biological and market risks of the aquaculture sector. Experience in sustainable farming practices, supply chain management, and market development would be crucial for the company's long-term success.
Outlook
Vistar Amar Ltd. operates in a dynamic Indian aquaculture sector with significant long-term growth potential, driven by robust domestic and international demand for seafood. The company stands to benefit from increasing consumer preference for protein and supportive government policies. However, the business is exposed to inherent industry risks such as disease outbreaks, environmental sensitivities, and price volatility for inputs and end-products. Its future performance will largely depend on its ability to implement efficient and sustainable farming practices, manage biological risks effectively, and adapt to changing market demands and regulatory landscapes while potentially scaling operations or diversifying its product offerings.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 8 | 22 | 23 | 11 | 3 | 9 | 3 | 27 | 11 | 66 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 8 | 22 | 23 | 11 | 3 | 9 | 4 | 27 | 11 | 66 |
| Total Expenditure | 8 | 20 | 22 | 11 | 3 | 9 | 4 | 25 | 10 | 58 |
| Operating Profit | 0 | 2 | 1 | 0 | 0 | -0 | -1 | 2 | 1 | 9 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 2 | 1 | 0 | 0 | -0 | -1 | 2 | -0 | 8 |
| Provision for Tax | 0 | 1 | 0 | 0 | 0 | -0 | 0 | 1 | 0 | 1 |
| Profit After Tax | 0 | 2 | 0 | -0 | 0 | -0 | -1 | 1 | -0 | 6 |
| Adjustments | 0 | -0 | 0 | 0 | -0 | 0 | 0 | -0 | -0 | 0 |
| Profit After Adjustments | 0 | 2 | 0 | -0 | 0 | -0 | -1 | 1 | -0 | 6 |
| Adjusted Earnings Per Share | 0.7 | 4.6 | 1.2 | -0 | 0.3 | -0.7 | -2 | 1.8 | -0.7 | 11.2 |
| #(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 | 3 | 4 | 7 | 21 | 36 | 56 | 64 | 74 | 27 | 107 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 3 | 4 | 7 | 21 | 36 | 56 | 64 | 74 | 27 | 108 |
| Total Expenditure | 0 | 0 | 3 | 4 | 7 | 20 | 32 | 51 | 59 | 69 | 28 | 97 |
| Operating Profit | 0 | -0 | 0 | 0 | 0 | 2 | 3 | 5 | 5 | 5 | -1 | 11 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | -0 | 0 | 0 | 0 | 1 | 3 | 4 | 4 | 5 | -1 | 9 |
| Provision for Tax | 0 | -0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 2 |
| Profit After Tax | 0 | -0 | 0 | 0 | 0 | 1 | 2 | 3 | 3 | 4 | -1 | 6 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | -0 | 0 | 0 | 0 | 1 | 2 | 3 | 3 | 4 | -1 | 6 |
| Adjusted Earnings Per Share | 0 | -0.2 | 0 | 0 | 0.2 | 2.9 | 6 | 9 | 8.5 | 10 | -2.6 | 10.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -64% | -22% | 5% | 0% |
| Operating Profit CAGR | -120% | NAN% | NAN% | 0% |
| PAT CAGR | -125% | NAN% | NAN% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 72% | -8% | 31% | 31% |
| ROE Average | -5% | 16% | 26% | 14% |
| ROCE Average | -4% | 22% | 35% | 20% |
| #(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 | 3 | 3 | 3 | 3 | 3 | 4 | 7 | 10 | 13 | 17 | 45 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | -0 | -0 | 0 |
| Total Current Liabilities | 0 | 0 | 0 | 1 | 1 | 7 | 6 | 4 | 4 | 4 | 10 |
| Total Liabilities | 3 | 3 | 3 | 4 | 5 | 11 | 12 | 14 | 17 | 21 | 55 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 3 | 2 | 3 | 2 | 2 | 16 |
| Other Non-Current Assets | 3 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| Total Current Assets | 0 | 3 | 3 | 4 | 4 | 8 | 9 | 11 | 15 | 19 | 38 |
| Total Assets | 3 | 3 | 3 | 4 | 5 | 11 | 12 | 14 | 17 | 21 | 55 |
| #(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 | 0 | 0 | 0 | 0 | 2 | 0 | 1 | 1 | 1 | 4 |
| Cash Flow from Operating Activities | -0 | 0 | -0 | 0 | 2 | 1 | 1 | 0 | -0 | 4 | -10 |
| Cash Flow from Investing Activities | 0 | 0 | 0 | 0 | -0 | -3 | -0 | -1 | -0 | -0 | -15 |
| Cash Flow from Financing Activities | 0 | 0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 | 30 |
| Net Cash Inflow / Outflow | -0 | 0 | -0 | 0 | 1 | -1 | 1 | -1 | -0 | 3 | 4 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 2 | 0 | 1 | 1 | 1 | 4 | 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) | 0.01 | -0.18 | 0.05 | 0.04 | 0.18 | 2.93 | 5.97 | 8.97 | 8.52 | 9.98 | -2.56 |
| CEPS(Rs) | 0.01 | -0.18 | 0.05 | 0.05 | 0.18 | 3.55 | 7.14 | 10.15 | 9.64 | 10.99 | -1.47 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 8.62 | 8.45 | 8.49 | 8.54 | 8.72 | 11.65 | 17.62 | 26.62 | 35.15 | 45.15 | 77.83 |
| Core EBITDA Margin(%) | -1.2 | -38.56 | 0.47 | 0.78 | 1.14 | 7.64 | 9.6 | 8.72 | 7.29 | 7.26 | -3.16 |
| EBIT Margin(%) | 1.39 | -38.56 | 0.54 | 0.83 | 1.3 | 6.98 | 8.43 | 7.96 | 6.66 | 6.78 | -5.05 |
| Pre Tax Margin(%) | 1.36 | -38.56 | 0.54 | 0.71 | 1.29 | 6.93 | 8.42 | 7.94 | 6.6 | 6.69 | -5.14 |
| PAT Margin (%) | 0.95 | -28.79 | 0.53 | 0.34 | 0.95 | 5.12 | 6.23 | 5.96 | 4.93 | 5.01 | -5.46 |
| Cash Profit Margin (%) | 0.98 | -28.79 | 0.53 | 0.34 | 0.95 | 6.22 | 7.46 | 6.74 | 5.58 | 5.51 | -3.15 |
| ROA(%) | 0.13 | -2.07 | 0.56 | 0.43 | 1.55 | 13.73 | 18.98 | 25.14 | 19.87 | 19.18 | -3.88 |
| ROE(%) | 0.13 | -2.08 | 0.56 | 0.49 | 2.1 | 28.74 | 40.8 | 40.55 | 27.58 | 24.86 | -4.78 |
| ROCE(%) | 0.19 | -2.77 | 0.56 | 1.17 | 2.85 | 39.17 | 55.16 | 54.2 | 36.71 | 33.29 | -4.42 |
| Receivable days | 365 | 689.02 | 177.52 | 260.47 | 149.5 | 66.36 | 54.46 | 46.17 | 50.89 | 45.3 | 88.98 |
| Inventory Days | 0 | 3077.88 | 0 | 0 | 0 | 31.74 | 20.32 | 11.8 | 18.41 | 22.69 | 99.36 |
| Payable days | 1.06 | 2.78 | 0.47 | 38.83 | 59.7 | 83.23 | 73.38 | 36.78 | 29.68 | 24.5 | 128.3 |
| PER(x) | 0 | 0 | 160.95 | 436.72 | 126.19 | 0 | 8.81 | 16.3 | 31.39 | 17.56 | 0 |
| Price/Book(x) | 0 | 1.22 | 0.89 | 2.12 | 2.62 | 0 | 2.99 | 5.49 | 7.61 | 3.88 | 1.53 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 7.46 | 15.1 | 0.82 | 1.45 | 0.96 | 0.14 | 0.51 | 0.96 | 1.54 | 0.83 | 2.25 |
| EV/Core EBITDA(x) | 525.11 | -39.16 | 152.16 | 175.26 | 74.16 | 1.69 | 5.33 | 10.94 | 21.08 | 11.39 | -82.19 |
| Net Sales Growth(%) | 480.38 | -46.59 | 1338.98 | 35.97 | 57.37 | 201.38 | 67.54 | 57.24 | 14.68 | 15.46 | -63.57 |
| EBIT Growth(%) | -76.45 | -1581.09 | 120.02 | 109.9 | 146.11 | 1523.77 | 102.36 | 48.53 | -4.02 | 17.51 | -127.11 |
| PAT Growth(%) | -77.88 | -1724.51 | 126.61 | -12.02 | 335.51 | 1518.48 | 104.01 | 50.22 | -5.02 | 17.16 | -139.71 |
| EPS Growth(%) | -77.84 | -1721.26 | 126.61 | -12.04 | 335.68 | 1518.1 | 104.01 | 50.22 | -5.02 | 17.16 | -125.62 |
| Debt/Equity(x) | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0.03 | 0 | 0 |
| Current Ratio(x) | 20.51 | 1334.98 | 239.22 | 4.26 | 2.83 | 1.18 | 1.66 | 2.56 | 3.36 | 4.24 | 3.78 |
| Quick Ratio(x) | 20.51 | 404.86 | 239.22 | 4.26 | 2.83 | 0.91 | 1.28 | 2.23 | 2.24 | 3.29 | 2.73 |
| Interest Cover(x) | 41.35 | 0 | 0 | 6.83 | 482.62 | 146.73 | 2109.3 | 362.12 | 102.03 | 75.31 | -53.83 |
| Total Debt/Mcap(x) | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 65.63 | 65.63 | 65.65 | 65.65 | 65.65 | 65.65 | 65.65 | 65.65 | 65.65 | 65.65 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 34.38 | 34.38 | 34.35 | 34.35 | 34.35 | 34.35 | 34.35 | 34.35 | 34.35 | 34.35 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.21 | 0.21 | 0.21 | 0.21 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.11 | 0.11 | 0.11 | 0.11 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.32 | 0.32 | 0.32 | 0.32 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -64% | -22% | +5% | — |
| Operating Profit CAGR | -120% | 0% | 0% | — |
| PAT CAGR | -125% | 0% | 0% | — |
| Share Price CAGR | +72% | -8% | +31% | +31% |
| ROE Average | -5% | +16% | +26% | +14% |
| ROCE Average | -4% | +22% | +35% | +20% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 65.63 | 65.63 | 65.65 | 65.65 | 65.65 | 65.65 | 65.65 | 65.65 | 65.65 | 65.65 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 34.38 | 34.38 | 34.35 | 34.35 | 34.35 | 34.35 | 34.35 | 34.35 | 34.35 | 34.35 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.21 | 0.21 | 0.21 | 0.21 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.11 | 0.11 | 0.11 | 0.11 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.32 | 0.32 | 0.32 | 0.32 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 |
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