Zeal Aqua

What Zeal Aqua does

Zeal Aqua Limited is a Surat, Gujarat-based vertically integrated aquaculture company specializing in shrimp farming, processing, and export, founded in 2009 and listed on the Bombay Stock Exchange since 2015 (BSE: 539963). The company operates across three divisions: a Farms division combining own production with a satellite farming program supporting 500+ smallholder farmers across Gujarat; a state-of-the-art Processing Unit established in 2017 with annual capacity of 3,000+ metric tons using Blast Freezing, Plate Freezing, IQF, and Brine Freezer technologies; and a Domestic Channel distributing export-quality shrimp and fish products through agents and distributors at below-market prices.

The product portfolio spans shrimp in multiple processed forms (Head ON, Head Less, Peeled and Deveined, Easy Peel, Peeled and Deveined Tail ON) plus fish fillets (Tilapia, Basa/Pangasius) introduced in 2022, with a full farm-to-fork digital traceability system. Zeal Aqua claims the distinction of being the only shrimp exporter holding Aquaculture Stewardship Council (ASC) certification. Farming operations employ Bio-Security protocols, Auto Feeder systems, and Aeration systems, and the processing facility is strategically located near farm sites to preserve freshness.

Revenue is generated through B2B transactions—direct international exports to 20+ countries via a dedicated 10-person export department, supplemented by domestic distribution through agents and distributors. The promoter/founder-controlled public company is led by Chairman and Managing Director Pradipkumar Ratilal Navik, with the Navik and Patel promoter families controlling the board alongside four independent directors. For FY 2025-26, Zeal Aqua reported revenue of Rs 511.32 crore (~$61M USD) with net profit of Rs 10.06 crore, reflecting flat top-line performance and thin margins typical of commodity aquaculture.

Name

Zeal Aqua

Legal name

Zeal Aqua Limited

Website

https://zealaqua.com

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

Zeal Aqua is a vertically integrated Indian aquaculture company that farms, processes, and exports shrimp and fish products to 20+ countries, serving international seafood buyers and domestic distributors from its Surat, Gujarat headquarters.

Ownership category

akta.pro rank

Product category

Aquaculture and Seafood Processing

NAICS

Other Aquaculture (112519), Finfish Farming and Fish Hatcheries (112511)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092), Agricultural Prod-Livestock & Animal Specialties (200)

akta.pro primary industry

Aquaculture Processing & On-Farm Value-Add (primary handling, icing, packing) (AFAEAAAN)

akta.pro secondary industry

Aquaculture Farm Services & Operations Support (net cleaning, diving, grading, harvesting) (AFAEAAAM)

Keywords

• Shrimp aquaculture
• Seafood processing
• Frozen shrimp export
• Fish farming
• Satellite farming

Headquarters

HQ city

Surat

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Shrimp Production and Trading: Revenue from aquaculture shrimp farming and trading of seed, feed, and medicines. The company operates own farms and satellite farms, processing shrimp through state-of-the-art facilities.
2. Shrimp Processing and Value-Added Products: Processing shrimp into various forms including Head ON, Head Less, Peeled and Deveined, Peeled and Deveined Tail ON, Easy Peel, and fish fillets. Products include frozen shrimp using IQF, Blast Freezing, and Plate Freezing technologies.
3. Domestic Sales: Sales to domestic market through agents and distributors, offering export-quality shrimp at lower prices than market rate.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

Zeal Aqua is a vertically integrated aquaculture company that farms, processes, and exports premium-quality shrimp and fish products. The company operates its own shrimp farms, runs a network of 500+ satellite farmers across Gujarat, and processes the catch at a state-of-the-art facility using IQF, Blast Freezing, Plate Freezing, and Brine Freezing technologies. Products are sold in forms such as Head ON, Head Less, Peeled and Deveined, Easy Peel, and Peeled and Deveined Tail ON, with full traceability from farm to fork.

Product overview

Zeal Aqua is an aquaculture company with vertically integrated operations spanning shrimp farming and fish cultivation. The company operates through three main divisions: Farms (satellite farming program with 500+ farmer network and own farms producing 1500+ MT annually), Processing Unit (state-of-the-art facility with Blast Freezing, Plate Freezing, IQF, and Brine Freezing capabilities producing 3000+ MT annually), and Domestic Channel (providing export-quality shrimp and fish products to domestic customers). The product portfolio includes shrimp in various forms (Head ON, Head Less, Peeled and Deveined, Easy Peel, Peeled and Deveined Tail ON) and fish products (Tilapia, Basa/Pangasius). The company also began producing quality fish fillets in 2022.

Differentiator

Problem solved

Functional benefit

Products and services

• Processed Shrimp Products
• Fish Products (Tilapia and Basa/Pangasius)
• Satellite Farming Program
• Domestic Distribution Channel

Quantifiable outcome

• Production capacity of 3000+ MT per annum from processing unit and 1500+ MT from own farms
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Avanti Feeds: Dominant Indian aquaculture feed manufacturer and major shrimp processor/exporter; listed on NSE/BSE. Comparable to Zeal Aqua across the shrimp value chain, with a much larger feed business and significant shrimp processing footprint.
• Apex Frozen Foods: Indian BSE/NSE-listed integrated shrimp aquaculture and exporter, headquartered in Andhra Pradesh. Closely comparable in product mix (Vannamei shrimp) and business model (farm + processing + export) to Zeal Aqua.
• Coastal Corporation Limited: Indian seafood processor and exporter with shrimp and other seafood products, listed on BSE. Direct competitor in Indian shrimp exports and value-added processing.
• Sandhya Marines: Indian shrimp aquaculture and processing company exporting to global markets, listed on BSE. Comparable in Vannamei farming, value-added processing and international export focus.
• Devi Fisheries: Indian integrated seafood (primarily shrimp) farming and processing company with significant export volumes. Closely comparable to Zeal Aqua's vertically integrated shrimp model and export-oriented GTM.
• Waterbase Limited: Indian aquaculture company operating in shrimp feed and processing. Listed on BSE; comparable shrimp value-chain participant, though historically feed-heavy.
• Uniroyal Marine Exports: Indian seafood (predominantly shrimp) exporter with BSE listing. Comparable mid-sized competitor in Indian frozen shrimp exports to EU, US and Asian markets.

Broad incumbents

• Charoen Pokphand Foods (CP Foods): Thailand-based global aquaculture and food conglomerate with significant shrimp farming, feed and processing operations. Broad incumbent competitor in international shrimp markets.
• Mowi ASA: Norwegian-listed global aquaculture leader, primarily Atlantic salmon but increasingly diversified into other species. Relevant as a large, publicly-listed aquaculture incumbent with sustainability certification programs.
• Thai Union Group: Global seafood giant (Chicken of the Sea, King Oscar brands) and the world's largest canned tuna processor. Relevant as a large incumbent in frozen shrimp and value-added seafood that competes with Indian exporters in EU/US retail.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/zeal-aqua

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

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 Zeal Aqua