Essex Marine Limited IPO

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Essex Marine Limited is a producer and exporter of processed marine fish and shrimp, including aquaculture vannamei shrimp. Headquartered in Kolkata, West Bengal, the company primarily operates on a B2B business model, supplying frozen seafood under its brand “Essex” to customers in China, Europe, and Israel. Additionally, the company undertakes job work for merchant exporters to optimize processing plant capacity.

Product Portfolio

The company’s product range includes:

a) Marine Fish
b) Marine Shrimp
c) Aquaculture Vannamei Shrimp

The company is also expanding into the export of “ready-to-cook” frozen seafood products by introducing blanching processes at its facility.

Infrastructure and Facilities

Processing Plant: The processing unit, located at Shankarpur near Digha, benefits from proximity to major aquaculture zones, ensuring quality raw material at competitive cost.

Cold Storage: The cold storage facility at Udayan Industrial Estate, Tangra, Kolkata – 700015 has a capacity of 1,800 MT for storing a variety of frozen food products.

Strategic Expansion Plans

The company plans to expand its peeling capacity from 10.8 tons per day (TPD) to 21.6 TPD with an investment of ₹247.93 lakhs. Additionally, it aims to enter the ready-to-cook frozen food segment by introducing blanching lines at its existing facility, for which ₹78.25 lakhs has been allocated.

Geographic Presence

The company has established a strong export footprint in China, Europe, and Israel, supported by its Kolkata head office and facilities in Shankarpur and Tangra. Its plant location offers proximity to raw material sources and ease of access to job work clients in West Bengal and Odisha.
Essex Marine serves a wide base of merchant exporters, food service distributors, and warehouse chains. It has consistently received repeat orders, reflecting strong customer satisfaction, reliability, and cost competitiveness.

Objects of the Essex Marine Limited IPO:

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: (i) Expansion of existing peeling capacity at existing processing unit (₹2.47 cr) (ii) Setting up of “Ready-to-Cook” Section by adding blanching in the existing process (₹0.78 cr) (iii) Working capital requirements (₹6 cr) (iv) Repayment/pre-payment, in part, of certain secured borrowing (₹7.15 cr) (v) General corporate purposes (₹ 3.43 cr)
DRHP of Essex Marine Limited IPO
RHP of Essex Marine Limited IPO

Essex Marine Limited IPO Details:

Open Date: Aug 04 2025
Close Date: Aug 06 2025
Total Shares: 42,62,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 23.01 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 54 Per Equity Share
Listing At: BSE SME

Promoters And Management:

1. Debashish Sen, aged 51 years, is the Managing Director and Promoter of the Company. He holds a Bachelor of Arts (Honours) degree from the University of Calcutta and has been associated with the Company since its incorporation. With over 23 years of experience in the procurement, processing, and export of marine fish and aquaculture products, he currently oversees the Company’s manufacturing operations and overall management. 2. Kajari Sen, aged 46 years, is a Promoter and currently serves as a Non-Executive Non-Independent Director of the Company. She holds a Bachelor of Arts degree from the University of Burdwan and has appeared for the final examination of her Master’s degree in History from the same university. Associated with the Company since its inception, she brings over 11 years of experience in the seafood industry. 3. Abhijit Chakraborty, aged 47 years, is an Independent Director of the Company. He holds a Bachelor of Science degree from the University of Calcutta and a Bachelor of Law degree from the University of Burdwan. He is a practicing Advocate at the Calcutta High Court, with more than 17 years of experience in civil and corporate law and litigation. He has been serving as an Independent Director of the Company since February 6, 2025.

Financials of Essex Marine Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations 37.22 19.15 21.89
EBITDA 9.43 4.98 6.01
EBITDA Margins 25.35% 26.04% 27.46%
PAT 4.66 1.82 2.02
PAT Margins 12.53% 9.52% 9.25%
ROCE 18.87% 14.40% 17.14%
Debt to Equity Ratio(In Times) 1.53 1.23 1.72
Operating Cash Flows -2.19 5.1 7.78

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Essex Marine Limited 37.22 25.35% 12.53% 18.87% 1.53 82.41 17.68
Kings Infra Ventures Limited 124 19% 10.60% 20.40% 0.84 353 26.8
Zeal Aqua Limited 506 7% 2.00% 15.20% 1.93 139 13.8

Lead Manager of Essex Marine Limited IPO:

  1. Khandwala Securities Limited

Registrar of Essex Marine Limited IPO:

  1. Skyline Financial Services Private Ltd

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