This section of Annual Report has been included in adherence to the spirit enunciated in the code of Corporate Governance approved by the Securities and Exchange Board of India. Though, utmost care has been taken to ensure that the opinions expressed by the Management herein contain its perceptions on most of the important trends having a material impact on the Companys operations, no representation is made that the following presents an exhaustive coverage on and of all issues related to the same. Further, the discussion following herein reflects the perceptions on major issues as on date and the opinions expressed here are subject to change without notice. The Company undertakes no obligation to publicly update or revise any of the opinions or statements expressed in this report, consequent to new information, future event, or otherwise.
1) Industry Structure and Developments
World fisheries and aquaculture production has hit a new high, with aquaculture production of aquatic animals surpassing capture fisheries for the first time, according to a new report from the Food and Agriculture Organization of the United Nations (FAO).
The State of World Fisheries and Aquaculture features, the Blue Transformation in action illustrated by activities, initiatives, led by FAO in collaboration with, partners and key stakeholders, to integrate Aquatic Foods into Global Food Security and Sustainability, enhance Policy advocacy, scientific research and capacity building, disseminate sustainable practices and technological innovations, and support community involvement.
The global population is on the rise and is projected to reach 10 billion by 2050, leading to an increased demand for food. "The Agricultural Outlook" by the OECD and FAO predicts a 13% growth in global cereal production by 2027 to meet the needs of the expanding population. Consequently, companies in various markets, including seafood manufacturing, are poised to benefit from the growing demand for food and beverage products as a result of the increasing population during the forecast period.
Indias Seafood exports touch all time high with 17,81,602 MTs worth $ 7.38 Bn of Seafood during 2023-24 despite several challenges in major export markets USA, EU and UK, with Frozen Shrimp remaining the major export item in Quantity and Value, while the USA and China are the major importers of Indian Seafood. However, there is decline by 5.38% in value terms.
The Indian aquaculture sector is poised to grow in the financial year 2024-25 with the Union government announcing a slew of measures in its interim budget presented in February. Accordingly, under the PMMSY, the government aims to double the aquaculture exports to nearly rupees one lakh crore and generate over 50 lakh job opportunities.
The Indian shipbuilding industry is experiencing significant growth and policy focus, with projections indicating a rise from $1.12 billion in 2024 to $8 billion by 2033, at a CAGR of 60%. This growth is fueled by government initiatives, increasing domestic demand, and strategic geographic location. India aims to become a top shipbuilding nation, targeting a position among the top 10 by 2030 and top 5 by 2047.
2) Opportunities and Threats
The global seafood market has been witnessing a continuous uptick in recent years riding on recognition of its benefits to health. The growing awareness of the health benefits of seafood, with its nutritional and protein content, presents a favorable environment for increased consumption.
The aqua culture activity is dependent on climatic conditions prevailing during season to season, which is unpredictable. Natural calamities like floods, cyclones, during the culture season can have serious impact on the prospects of successful culture. Inspite of technical advancement and development of Specific Pathogen Free (SPF) seed, the possibilities of the shrimps getting affected by virus and diseases cannot be ruled out.
So far as Shipyard activity is concerned Acquisition plan of Indian Navy and Indian Coast Guard aimed at significant Expansion of fleet size . Competition from Private and Public Shipyards is major threat to shipayard activity
3) Sent-wise or product-wise performance
Particulars |
Year to Date Ended on 31.03.2025 | Year to Date Ended on 31.03.2024 |
(Unaudited) | (Audited) | |
I.Sent Revenue |
||
(a) Sent A (Fishery) |
0.05 | 69.16 |
(b) Sent B (Shipyard) |
39.00 | 18.72 |
Net sales/income From Operations |
39.05 | 87.88 |
2 Sent Results (Profit)(?)/ Loss (-) before tax and interest from Each sent) |
||
(a) Sent A (Fishery) |
-14.17 | -41.88 |
(b) Sent B (Shipyard) |
36.20 | 5.17 |
Total |
22.03 | -36.71 |
Less: i) Interest** |
-53.40 | -54.81 |
ii) Other Un-allocable Expenditure net off |
-18.94 | -20.55 |
(iii) Un-allocable income Total Profit Before Tax |
4.73 | 0.03 |
Total |
-45.58 | -112.04 |
3 Capital Employed |
||
Sent Assets |
||
(a) Sent A (Fishery) |
82.96 | 98.68 |
(b) Sent B (Shipyard) |
114.37 | 124.63 |
(c) Unallocated |
475.81 | 485.05 |
Sent Assets Total |
673.13 | 708.36 |
Sent Liabilities |
||
(a) Sent A (Fishery) |
0.00 | 65.21 |
(b) Sent B (Shipyard) |
0.00 | 0.60 |
(c) Unallocated |
908.79 | 832.64 |
Sent Liabilities Total |
908.79 | 898.45 |
4) Outlook Threat from the virus is major concern hence we are going ahead slowly with aquaculture operations. We are actively scouting new business for shipyard activities
5) Risks and concerns Change in government policies, COVID Pandemic and rising labour cost can have adverse effect the business of the company.
6) Internal control systems and their adequacy The Companys Internal Financial Controls encompass policies and procedures adopted by the Board for ensuring the orderly and efficient conduct of business, including adherence to its policies, safeguarding of its assets, prevention and detection of frauds and errors, the accuracy and completeness of accounting records and the timely preparation of reliable financial information. Appropriate review and control mechanisms are built in place to ensure that such control systems are adequate and are operating effectively.
The systems/frameworks include proper delegation of authority, operating philosophies, policies and procedures, effective IT systems aligned to business requirements, an Internal Audit framework, a comprehensive Code of Conduct & Business Ethics framework, a Risk Management framework and adequate segregation of duties to ensure an acceptable level of risk. Documented Standard Operating Procedures are in place for all business processes. Key controls are tested to assure that these are operating effectively.
7) Discussion on financial performance with respect to operational performance During the year under review (2024-25) the company has earned Revenue from Operations of Rs. 39.00 Lakhs as against Rs. 85.43 Lakhs in previous year. Further Company has incurred net loss of Rs. 45.58 Lakhs as against loss of Rs. 112.04 Lakhs in previous year.
During the year under review (2023-24) the company has earned Total Income of Rs. 86.64 Lakhs as against Rs. 97.46 Lakhs in previous year. Further Company has incurred net loss of Rs. 112.04 as against loss of. Rs. 103.04 Lakhs in previous year.
So far as aquaculture business is concerned Company has revamped 12 Numbers of ponds, deepen water channel, purchased a 250kva electricity connection, built pond gates, done new cabling and electric panels, labour rooms and purchased capital equipment like aerators, and pumps. However presently we are facing problem of virus infection thereby the we are going slowly with the production of aquaculture which led to lower turnover
8) Developments in Human Resources / Industrial relations Aquaculture and shipyard business needs qualified and trained staff for these operations. In this direction, the Company imparts expert training in the respective field and develops Human Resource capabilities. During the year under review Company has not hired new employees. As on 31.03.2025 Company has 4 employees. Once operations begin adequate manpower will be employed.
9) Details of significant changes (i.e. change of 25% or more as compared to the immediately previous financial year) in key financial ratios, along with detailed explanations, therefore, including:
Particulars |
2024-25 | 2023-24 | Explanation |
i. Debtors Turnover |
1.26 | 6.71 | No orders for shipyard business |
ii. Inventory Turnover |
0.00 | 0.00 | and Threat of infection led to |
iii. Interest Coverage Ratio |
0.00 | -0.56 | decrease in turnover of |
iv. Current Ratio |
1.36 | 0.73 | Company. These are main |
v. Debt Equity Ratio |
-3.69 | -4.59 | reason for significant changes in |
i. Operating Profit Margin |
0.52 | -0.08 | financial ratios |
ii. Net Profit Margin |
-1.04 | -1.29 |
10) Details of any change in Return on Net Worth as compared to the immediately previous financial year along with a detailed explanation thereof: In view of the losses there has been no returns on net worth
11) Statements in this Management Discussion and Analysis describing the Companys objectives, projections, estimates and expectations may be forward looking statements within the meaning of applicable laws and regulations. There is no certainty that these forward-looking statements will be realized, although care has been taken in making these assumptions. There is no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
DATIWARE MARITIME INFRA LIMITED |
||
Jayashree Patil | Ashok Patil | |
Managing Director | Director | |
(DIN 02419826) | (DIN 00766354) | |
Place: Pune |
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Date:25-08-2025 |
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