What Waterbase does

The Waterbase Limited (TWL), founded in 1987 and listed on the Bombay Stock Exchange since 1991, is India's first fully integrated aquaculture company, with operations spanning SPF shrimp hatcheries, scientifically managed shrimp farms, ISO- and BAP-certified feed mills, animal healthcare products, aqua diagnostic laboratories, processing and cold-storage facilities, and global exports. Headquartered in Chennai and operating from its flagship integrated aquaculture EOU in Nellore, Andhra Pradesh (commissioned in 1993), the company is a controlled subsidiary of the KCT Group, which raised its stake to 51.6% in 2016.

The company sells a broad portfolio of scientifically formulated shrimp feeds — including BayWhite Advanced (with proprietary Super Stimulant and OptiTrace technologies), VanaMax, Tiger XL, and Godavari — alongside an extensive Baylife farm-care line of probiotics, immune stimulants, mineral supplements, adsorbents, and sanitizers based on patented processes such as lyophilized photosynthetic bacteria and Quorum Sensing probiotics. Adjacent lines include SPF antibiotic-free shrimp seed, on-farm and water-quality diagnostic services, and a domestic consumer brand (Prize Catch) for frozen seafood. Multiple shrimp formats (IQF, block, butterfly, HLSO, PD tail-on/off, skewers) are exported with a track record of zero overseas shipment rejections for over 30 years.

Waterbase makes money through B2B sales of feed and farm-care inputs to a dealer network across eastern India (Andhra Pradesh, Odisha, West Bengal), direct sales of SPF shrimp seed and diagnostic services to farmers, and direct B2B exports to buyers in the USA, Canada, UK, EU, Middle East, Japan, Korea, China, and Vietnam. Pricing is quote-based and not publicly disclosed. Customer segments are split between Indian shrimp farmers (SMB), international seafood buyers (enterprise), and Indian domestic consumers via Prize Catch.

Name

Waterbase

Legal name

The Waterbase Limited

Website

https://waterbaseindia.com

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The Waterbase Limited is India's first fully integrated aquaculture company, manufacturing shrimp feeds, farm care products, SPF shrimp seed, and exporting frozen shrimp to global markets. Founded in 1987 and listed on BSE, it serves Indian shrimp farmers and international seafood buyers.

Ownership category

akta.pro rank

Product category

Aquaculture Feed Manufacturing

NAICS

Seafood Product Preparation and Packaging (3117), Seafood Product Preparation and Packaging (31171), Aquaculture (11251), Other Aquaculture (112519), Fish and Seafood Merchant Wholesalers (42446)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092), Food And Kindred Products (2000), Agricultural Prod-Livestock & Animal Specialties (200)

akta.pro primary industry

Shrimp & Prawn Feed (AFADADAB)

akta.pro secondary industries

Aquaculture Harvest, Processing & Packing (Farmed Finfish/Shellfish; On-Farm Plants) (AFANADAL), Crustacean Farming (e.g., shrimp, prawns, crab) (AFAEAAAC), Shrimp & Prawn Hatcheries (AFAEAKAC), Crustacean Feed (Crab, Lobster, Crayfish) (AFADADAC)

Keywords

• Shrimp feed manufacturing
• Aquaculture inputs
• Farm care solutions
• SPF shrimp seed
• Frozen shrimp exports

Headquarters

HQ city

Chennai

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Shrimp Feed Manufacturing and Sales: Manufacturing and sale of scientifically formulated shrimp feeds including BayWhite Advanced, VanaMax, Tiger XL, and Godavari for polyculture. Revenue generated through direct sales to shrimp farmers via dealer network and on-ground technical support.
2. Farm Care Solutions: Sale of animal healthcare products including probiotics, supplements, minerals, adsorbents, and sanitizers under the Baylife brand. Products sold to shrimp farmers to support pond health, disease prevention, and productivity.
3. SPF Shrimp Seed (Post Larvae): Production and sale of Specific Pathogen Free, antibiotic-free shrimp post larvae from company hatcheries to farmers.
4. Frozen Shrimp Processing and Exports: Processing of farm-raised shrimp into various formats (IQF, Block Frozen, Butterfly, HLSO, PD Tail On/Off, Skewers) for export to USA, Canada, UK, EU, Middle East, Vietnam, China, Korea, and Japan. Zero overseas shipment rejections for over 30 years.
5. Domestic Frozen Seafood: Sale of premium frozen seafood products including farm-raised shrimp to Indian domestic market under Prize Catch brand.
6. Aqua Diagnostic Services: Diagnostic services including shrimp disease diagnostics, water quality analysis, and farm health monitoring provided through aqua diagnostic centers.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

The Waterbase Limited is India's first fully integrated aquaculture company manufacturing scientifically formulated shrimp feeds (BayWhite Advanced, VanaMax, Tiger XL, Godavari) at ISO and BAP certified feed mills, producing SPF shrimp seed at biosecure hatcheries, and operating a complete value chain extending from hatchery through farming, processing, and global exports of premium farm-raised antibiotic-free shrimp in multiple formats. The company also sells farm care solutions under the Baylife sub-brand (probiotics, supplements, minerals, adsorbents, sanitizers), provides aqua diagnostic services for shrimp health and water quality analysis, and sells premium frozen seafood under the Prize Catch brand in the Indian domestic market.

Product overview

The Waterbase Limited is India’s first fully integrated aquaculture company providing end-to-end solutions across the shrimp aquaculture value chain. The integrated platform encompasses: (1) Shrimp Feeds (BayWhite Advanced, VanaMax, Tiger XL, Godavari) manufactured at ISO and BAP certified feed mills; (2) Farm Care Solutions under the Baylife sub-brand (probiotics including Nutripond, VC-9, Prolyf, UniQPS, PSB9; feed supplements including NutriFeast, NutriGut, AminoVita, WhiteKure, Baybond, ImmuGuard, Enrich C, Whispokyn; minerals including SeaMin, BayMin; and adsorbents/sanitizers including Zeolyf, Oxylyf, Pond Guard, BaySoft); (3) Shrimp Hatcheries producing SPF shrimp seed; (4) Shrimp Farms for production, R&D, and farmer training; (5) Aqua Diagnostic Centres for shrimp health and water quality testing; (6) Shrimp Processing & Exports offering multiple formats (Block Frozen, VPD Block Frozen, Butterfly, Head Less Shell On, Head On Shell On, Peeled & Deveined Tail Off, Peeled & Deveined Tail On, Skewers) for global markets; and (7) Domestic Seafood under the Prize Catch brand for the Indian market.

Differentiator

Problem solved

Functional benefit

Brands

• BayWhite Advanced: Super Stimulant Vannamei Feed - enriched with select marine ingredients to maximise nutrient absorption and utilisation
• VanaMax
• Tiger XL
• Godavari
• Baylife
• Prize Catch
• BayWhite
• SPF Shrimp Hatchery

Products and services

• Shrimp Feeds Scientifically formulated shrimp feeds supporting optimal growth and feed efficiency, manufactured at ISO and BAP certified feed mills. The range includes BayWhite Advanced, VanaMax, Tiger XL, and Godavari for Vannamei, Monodon, and polyculture farming, sold to shrimp farmers through the dealer network.
• Farm Care Solutions (Baylife) Comprehensive shrimp animal healthcare solutions under the Baylife sub-brand, including probiotics (Nutripond, VC-9, Prolyf, UniQPS, PSB9, NutriFeast, NutriGut, AminoVita), bacterial disease control (WhiteKure), binders (Baybond), immunostimulants (ImmuGuard), vitamin and mineral supplements (Enrich C, SeaMin, BayMin), and water/pond care solutions (Zeolyf, Oxylyf, Pond Guard, BaySoft). Sold to shrimp farmers for pond health, disease prevention, and productivity.
• SPF Shrimp Seed (Post Larvae) Specific Pathogen Free (SPF), antibiotic-free, and disease-free shrimp post larvae (PLs) produced through controlled, bio-secure hatchery systems, supplied to shrimp farmers for stocking ponds.
• Shrimp Processing & Exports Processing of farm-raised antibiotic-free shrimp into multiple formats including Block Frozen, VPD Block Frozen, Butterfly, Head Less Shell On (HLSO), Head On Shell On, Peeled & Deveined Tail Off, Peeled & Deveined Tail On, and Skewers for export to international markets (USA, Canada, UK, EU, Middle East, Vietnam, China, Korea, Japan). Operates with zero overseas shipment rejections for over 30 years.
• Prize Catch - Domestic Frozen Seafood Consumer-facing frozen seafood brand offering premium farm-raised shrimp and marine catch to the Indian domestic market through retail and wholesale distribution channels under international-quality standards.
• Aqua Diagnostic Services Advanced diagnostic services for shrimp disease diagnostics, water quality analysis, and farm health monitoring provided through aqua diagnostic centres located at Nellore, Bhimavaram, Ganapavaram, Kaikaluru, and Juvvalapalem, supporting proactive farm management and disease prevention for shrimp farmers.
• Shrimp Farms and Research Scientifically managed shrimp farms functioning as centres for production, research and development, and farmer training, supporting both commercial shrimp cultivation and applied aquaculture research.

Quantifiable outcome

• Zero overseas shipment rejections for over 30 years
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Saatatya Vistaar Oorja Bengaluru Pvt LtdminorOthers · 25 March 2020Wholly-owned subsidiary acquired on March 25, 2020 to expand operations and consolidate business activities.
• CIBA (Central Institute of Brackishwater Aquaculture)coreStrategic or Co-development Partner · 1 January 2018Strategic alliance with CIBA for advancing aquaculture science and best practices in Indian shrimp farming. Collaboration supports R&D initiatives and knowledge sharing for sustainable aquaculture development.
• Luxe Enterprises, TaiwancoreTechnology or Integration · 1 January 1993Technical collaboration with Luxe Enterprises, Taiwan for feed and hatchery technology. This partnership enabled commissioning of India's first integrated aquaculture EOU in Nellore and technology transfer for shrimp feed manufacturing and hatchery operations.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Emerging players

• Benchmark Holdings: Benchmark Holdings is a UK-listed aquaculture genetics and health company with shrimp breeding and disease management technologies. Comparable to Waterbase in the SPF shrimp seed production and aquaculture health product segments. While focused on different geographies today, Benchmark's technology in pathogen-free genetics and disease mitigation aligns with Waterbase's hatchery and Baylife farm care product lines.

Broad incumbents

• Charoen Pokphand Foods (CP Foods): CP Foods is a Thailand-headquartered global aquaculture and food conglomerate with significant operations in India through CP India. Comparable to Waterbase across shrimp feed manufacturing, hatchery operations, and integrated shrimp value chain. As a much larger global incumbent, CP Foods competes with Waterbase in both Indian and export markets but does not focus exclusively on the Indian shrimp farmer segment.
• BioMar: BioMar is a global aquaculture feed manufacturer headquartered in Denmark, with operations across salmon, shrimp, and other species. Comparable to Waterbase in the proprietary shrimp feed formulation space and increasingly relevant as BioMar expands into Asian markets. While not a direct India competitor, BioMar represents the international technology and quality benchmarks that Waterbase must match to win global export customers.
• Skretting (Nutreco): Skretting is a global aquaculture feed leader owned by Nutreco (SHV Holdings), producing shrimp and fish feeds across multiple continents. Comparable to Waterbase in the science-led, premium shrimp feed segment with proprietary nutritional technologies. While not directly competing in India at scale today, Skretting's global presence and R&D capabilities represent both competitive threat and benchmark for Waterbase's export positioning.
• Cargill Aqua Nutrition: Cargill's Aqua Nutrition business is a major global player in shrimp and fish feed, operating in multiple Asian markets including India. Comparable to Waterbase across shrimp feed manufacturing, processing, and export reach. As a much larger multinational incumbent, Cargill competes with Waterbase for premium global buyers and represents both a competitor and a potential partner/distributor for Indian aquaculture products.
• Thai Union Group: Thai Union is one of the world's largest seafood processors and a major buyer of farmed shrimp for global branded products. As a customer and competitor in the global shrimp export market, Thai Union overlaps with Waterbase's frozen shrimp processing and export business. While it does not operate Indian shrimp feed manufacturing, it represents the same end-market and quality benchmarks that Waterbase targets.

Direct peers

• Zeal Aqua: Zeal Aqua is an Indian aquaculture company operating in shrimp processing and exports, with operations in Gujarat and other coastal states. Comparable to Waterbase as a mid-sized Indian shrimp processor and exporter serving global markets. While smaller than Waterbase in feed manufacturing, Zeal Aqua directly competes in the same processing and export segments where Waterbase sells its frozen shrimp products.
• Avanti Feeds: Avanti Feeds is India's largest shrimp feed manufacturer and Waterbase's most direct domestic competitor. Both companies produce shrimp feed (Avanti through its Avanti brand), serve the same Indian shrimp farmer base in Andhra Pradesh, and have comparable product portfolios including feed, processing, and exports. Avanti operates at significantly larger scale but shares the same target market, technology focus, and B2B dealer distribution model.

Regional players

• De Heus Animal Nutrition: De Heus is a Dutch-headquartered animal nutrition company with growing aquaculture feed operations across Asia, including India. Comparable to Waterbase in the science-based shrimp feed segment serving commercial aquaculture farmers. While primarily focused on other livestock segments globally, De Heus's expansion into Indian aquaculture creates direct competition for Waterbase in the dealer-led shrimp farmer market.
• Godrej Agrovet: Godrej Agrovet is a diversified Indian agribusiness with an aquaculture feed segment (Godrej Max), competing directly with Waterbase in the Indian shrimp feed market. Both serve Indian shrimp farmers through similar dealer networks in coastal states. While Godrej Agrovet is more diversified across crops, dairy, and poultry, its aquaculture division is a direct competitor to Waterbase's feed business.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@TheWaterbaseLimitedOfficial
• Facebookfacebook.com/TheWaterbaseLimited
• LinkedInlinkedin.com/company/the-waterbase-ltd
• Instagraminstagram.com/thewaterbaselimitedofficial

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Waterbase