Friday, 21 July 2023 | PNS
Kings Infra Ventures Limited, a multifaceted company focusing on aquaculture farming, marine products processing, international trade and sustainable food production consultancy services, sees greater traction in export demand during this year. The company has also entered into strategic partnerships with stakeholders in the value chain linked to aquaculture farming and shrimp exports.
Commenting on the overall business outlook, Kings Infra chairman and managing director Shaji Baby John said, “We have received very encouraging responses from the buyers from major marine products markets. We are bullish about demand prospects, especially in the peak season coinciding with Christmas and New Year.”
“We are very close to seal two major strategic partnerships that would fetch export orders worth INR 100 crore each. The strategic partnership with the Chinese subsidiary of a reputed Japanese company will be for joint branding and distribution in the Chinese market. The relationship will help us in risk mitigation as assured payments will be made by the Japanese principals,” he added.
Further, he said that the partnership with the US-based company is for supplying nearly 100 containers of IQF shrimp. “We consider it as a very positive development. We will be able to introduce our shrimps in the US for the first time. The US is the biggest market for Indian shrimp export and we feel that the new tie-up would enable us to gain further traction in export business to the largest market,” Shaji said.
To cater to the specific order from the US, Kings Infra plans to acquire a marine product processing plant in Nellore soon. “In the meantime, to avoid time delays, we are entering into working arrangements with processing plants as a merchant exporter,” he added.
He averred that Kings Infra is moving ahead with well-designed business plans focusing on long-term business partnerships with global buyers and collaboration with domestic exporters for value- added production.
Notably, Kings Infra with 93 percent growth in PAT in FY 2022-23 has entered into a tie-up with the Canada-based Atomes Group for promoting antibiotic free, sustainable and traceable aquaculture. The company has also entered into a strategic partnership with Snowkap, globally renowned for offering solutions to attain the Environmental, Social, Governance (ESG) Goals and cutting greenhouse gas emissions.
“These agreements are in tune with the strategic vision of the company. We have identified sustainable and eco-friendly aquaculture as the focus for growth in the coming years. The steps initiated by the company in this direction during the past few years are now in the process of becoming fruitful tie-ups. The agreements with Atomes and Snowkap are parts of that process,” Shaji said.
The projects initiated by the company in this direction are in various stages of progress, he said, adding that SISTA360, a protocol focusing on traceable, transparent, sustainable and profitable aquaculture, is expected to be a catalyst for the second Blue Revolution in the country. “We have got very encouraging feedback from farmers using the protocols and we hope to make the nationwide launch soon,” he informed.
The long-term prospects of Indian aquaculture depend mainly on its ability to provide sustainable, traceable and antibiotic-free products to the global market. Kings Infra has anticipated such changes taking place in the global market and has thus implemented projects that would cater to the changing needs and requirements, he said. “Going forward, we hope that the projects undertaken by Kings Infra for sustainable aquaculture would bring more and steady business to us from major marine products importing countries,” Shaji said.
Notably, Kings Infra shares traded at around 10 per cent higher with a volume of 160,000 shares and closed at Rs 114.55.
