Welcome to Indo Aquatics Limited

Indo Aquatics Ltd. was incorporated in the year 1991 with a view to do aquaculture. After acquiring Ac. 362.85 of land, the land was developed into ponds with varying sizes ranging from HA 0.30 to HA 1.00 and commenced Prawn Culture in the year 1992-93 and afterwards obtained loans from SCICI Ltd.(Now merged into ICICI Bank Ltd.) SBH and SBI. The Promoters also invested Rs.385.03 Lakhs and an amount of Rs.371.11 Lakhs was raised by way of public issue. In the first year itself after the public issue, the company made spectacular profit of Rs.76.53 Lakhs in one crop in HA 20 WSA. After that in September 1994 the prawn culture was affected with unprecedented white spot virus disease resulting in total chaos in the prawn culture industry and the company is also no exception to that. The white spot virus could not be prevented and was not cured. MPEDA being a nodal agency declared crop holiday for all the farms without suggesting any solution for the disease. Because of this disease, the company faced financial crisis and approached the financial institutions for rescheduling of the loans and for expansion of financial limits but in vain. Finally the promoters settled all the secured loans by way of one time settlements to all the Banks / Institutions. Due to financial crisis even though it was difficult to maintain /upkeep the farm and hatchery, the promoters have taken pains to keep up / safe guard the assets of the farm and hatchery with minimum expenditure and maximum efforts. However most of the plant and machinery / bunds were corroded and eroded due to efflux of time, nearness to the sea, non usage for more than 10 years etc.

Inspite of all these problems, the Promoters somehow, managed and maintained the farm and hatchery with culture of various fish in small extents only due to non availability of various inputs, due to financial crisis as well as non standardization of culture practices of prawns / fish. However the farm and hatchery will be ready for farming and production with minimum expenditures in due course of time with reasonable investment.