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Oceanaa Biotek industries Ltd.

BSE: 538019 Sector: Others
NSE: N.A. ISIN Code: INE732P01018
BSE LIVE 19:40 | 19 Oct 43.40 -0.55
(-1.25%)
OPEN

47.00

HIGH

47.00

LOW

40.55

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 47.00
PREVIOUS CLOSE 43.95
VOLUME 905
52-Week high 63.70
52-Week low 25.00
P/E 31.22
Mkt Cap.(Rs cr) 59
Buy Price 0.00
Buy Qty 0.00
Sell Price 43.40
Sell Qty 25.00
OPEN 47.00
CLOSE 43.95
VOLUME 905
52-Week high 63.70
52-Week low 25.00
P/E 31.22
Mkt Cap.(Rs cr) 59
Buy Price 0.00
Buy Qty 0.00
Sell Price 43.40
Sell Qty 25.00

Oceanaa Biotek industries Ltd. (OCEANAABIOTEK) - Chairman Speech

Company chairman speech

Dear Stake holder

India is fast emerging as a major aquaculture destination. Aquaculture in India gotmore than its fair share of opportunities especially after 2009 to credit shrimpproducers in India immediately lobbied with the central government to allow import ofwhite leg or Pacific white shrimp (Litopenaeus Vannamei) from the US for cultivation.

Company started with food testing laboratory aims to achieve complete safety bysampling and testing of each day's production and to make sure that the seafood processadheres to the highest industry standards and meticulous product specification.

On gaining grip over the Shrimp Cultivation and with the help of Promoter's expertise& aptitude in Hatchery business the Company purchased a Hatchery business with acapacity of 400 million seed per annum (the survival has taken into 40%) during August2014 located at keelaiyur village sirkali talk nagapattinam District Tamil Nadu. For asale value of Rs. 3.9 Crores allotting 781850 shares with a premium under considerationof cash. As a favorable outcome of Hatchery business Company has recorded revenue of Rs.46.47 crore in 2015 compared to Rs. 6.70 crore in the year 2014. Resulting in increasedprofit of Rs. 80 lakhs in 2015 compared to Rs. 34.79 lakhs in 2014. In the year 2016Company recorded profit of Rs. 2.17 crore reflected radiant progress in business.

Without the maturation facility the company had struggled in producing the good qualityseed at right time. To cope up with the magnified evolution of the Hatchery Industry andeternal support received from the stakeholder the Company invested in acquisition ofanother Hatchery which possess capacity of 250 million seed production and a bigmaturation facility which can hold 1600 pairs of brood stock at a time from a partnershipfirm a Chennai based firm engaged in rearing of prawn seeds and trading of prawn seeds.To give effect to the purchase Company allotted 3365275 shares with Premium to thepartners for consideration other than cash amounting sale value of Rs. 20.19 crore.

To bring lot of prawn farmers to purchase our seed the company is giving the testingservice as discount to the farmers for which the value for one test is very minimal whenwe compared to their purchase volume and value. That is why we were able to sell hugequantity of our own manufacturing seed and rather than trading in the year 2017. Thecompany has recorded a revenue of Rs. 36.70 crore and profit margin Rs. 2.70 crore in theyear 2017.

Going forward the favorable monsoon is expected to result in the significant tradingopportunities. Company is planned to introducing new and innovative technologies to copeup with global advancement. The year in retrospect was truly eventful- Enthused by theperformance we are redoubling our efforts to face the emerging challenges with greaterconfidence.

I take this opportunity to thank all the employees of the company whose dedication andconfidence in the management has contributed to the success of the company. I also takethis opportun0ity to thank all the shareholders for their continued faith in the companyand understanding they have shown.

Thanks

Joseb