Shares of this micro-cap seafood export company which is in the business of sourcing, processing, and packaging Shrimps for the international market is up 7 percent to Rs.272 per share, following the board of directors approved share split in the ratio of 1:5.
Price Variation
In Monday’s session, Coastal Corporation Limited‘s share price jumped 7 percent to a day’s high of Rs.275.08 per share. The stock has reiterated from a day’s high and was trading at Rs. 262.22 which is 2.05 percent higher than the previous closing price of Rs. 256.95 per share. It has delivered negative returns of 1.73 percent return in the past year.
What happened
Coastal Corporation Ltd has released a report on a stock split for a 1:5 ratio (For the face value of Rs. 10 currently it will be split into 5 shares with a face value of Rs. 2 each). The record date for this event will be intimated in due course.
Financial Performance
Looking at the company’s financials, Coastal Corporation reported a revenue of Rs.154.77 crore for Q2FY25, marking a 39 percent increase from Rs.111.36 crore in the same quarter last year. However, Profit After Tax (PAT) declined by 88 percent to Rs.0.51 crore, down from Rs.4.48 crore in the previous year’s quarter.
Products and services
They specialize in premium seafood, primarily focusing on shrimp products. Their offerings include sea-caught and aquaculture shrimps, available in various forms such as raw or cooked, individually quick-frozen (IQF), and frozen blocks.
Shareholding Pattern
As of September 2024, the shareholding pattern includes promoters holding a share of 41.94 percent stake in Coastal Corporation, Foreign Institutional Investors (FII) holding around 1.40 percent, and public holdings standing at 56.66 percent.
Company Profile
Coastal Corporation Limited was established in 1981. It is a leading Indian seafood processing and export company that specializes in high-quality aquaculture products, particularly shrimp. They operate under BRC, HACCP, and BAP certifications, ensuring compliance with international food safety standards.
Their business model focuses on sourcing, processing, and packaging seafood for global markets which include the USA, Europe, and Asia. With over 900 employees, Coastal Corporation focuses on innovation and quality to maintain its competitive edge in the seafood industry.
Written by – Santhosh S
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