Nekkanti Sea Foods Limited IPO

Nekkanti Sea Foods Limited is one of the largest exporters of seafood from India and has been in this business for over two decades. Nekkanti, from a humble beginning in the seafood industry, integrated backward by venturing into deep sea trawling and processing seafood. In 1985, Nekkanti started its operations by taking up a leased processing facility in Kakinada. Later in 1989, NSFL setup its own processing facility in Visakhapatnam. Nekkanti has since then never looked back.
In its strategy to diversify into new markets and augment its existing capacity, it has commissioned a modern State-of-the-Art processing plant, which is strategically located in the aquaculture heartland of India. Currently, NSFL is operating 3 USFDA approved factories located in Andhra Pradesh, India.
In Fiscal 2017, we had a volume share in the Indian shrimp industry of 2.49% with a value share of 3.31% of the
total exports in such periods (Source: Based on information derived from the CRISIL Report). Our revenues from
operations have grown at a CAGR of 29.33% from Fiscal 2013 to Fiscal 2017. In comparison, India’s shrimp
exports grew at a CAGR of 15% over fiscal 2013 and 2017
Shell-on Products. These products include head-on shell-on shrimps and headless shell-on shrimps. In Fiscal 2017 and in the nine months ended December 31, 2017, shell-on products accounted for 9.71% and 10.32%, respectively, of our revenue from operations in such periods.59
Peeled Products. These products are the ready-to-cook range of shrimp and include raw shell-on easy peel, raw peeled deveined tail-on, and raw peeled deveined tail-off shrimps. In Fiscal 2017 and in the nine months ended December 31, 2017, peeled products accounted for 80.39% and 76.19%, respectively, of our revenue from operations in such periods.
Cooked Products. These products are a ready-to-eat range of shrimp and include cooked easy peel, cooked peeled deveined tail-on and cooked peeled deveined tail-off products. In Fiscal 2017 and in the nine months ended December 31, 2017, cooked products accounted for 7.85% and 12.80%, respectively, of our revenue from operations in such periods.
Breaded and Other Products. Breaded shrimps are value-added products that involve additional processing, such as coating with breadcrumbs and frying before being individually quick frozen (“IQF”). Other products include butterfly, skewered and Nobashi shrimp products. In Fiscal 2017 and in the nine months ended December 31, 2017, breaded and other products accounted for 2.05% and 0.69%, respectively, of our revenue from operations in such periods.