Dear Valued Shareholders,
It gives me great pleasure to address you all in the 16th Annual General
Meeting of ZEAL AQUA LIMITED.
On behalf of the Board of Directors, I am pleased to present Zeal Aqua Ltd.'s
Annual Report for the financial year ended 31 March, 2024 ("FY 2024"). As you
are seeing the growth path of the Company in the last few years, I am of the view that
significant efforts have been put in by the Management in the growth of the Company. I
would also like to appreciate the valuable guidance and contributions by the Independent
Directors that not only led the company in improving Corporate Governance standards but
also in its growth. The relentless commitment and dedication of every member of the zeal
aqua family helped our business navigate through the many challenges that comes through
our way.
I extend my sincere appreciation to my fellow Board members, the leadership team,
employees, our suppliers and business partners for their continued support which has
helped us serve our customers even better during these challenging times. I would like to
thank all our shareholders and look forward to your continued support and guidance, as the
Company progresses towards its mission of ‘best quality sourced shrimp to customers
worldwide' in the coming years.
India is the 2nd largest aquaculture nation in the world after China. The Blue
Revolution in India demonstrated importance of Fisheries and Aquaculture sector. The
sector is considered as a sunrise sector and is poised to play a significant role in the
Indian economy in near future. In the recent past, Indian fisheries has witnessed a
paradigm shift from marine dominated fisheries to inland fisheries, with the latter
emerging as a major contributor of fish production from 36% in the mid-1980 to 70% in the
recent past. Within inland fisheries, a shift from capture to culture-based fisheries has
paved the way for sustained blue economy.
Although inland fisheries and aquaculture have grown in absolute terms, the development
in terms of its potential is yet to be realized.
In India, fisheries are a significant economic sector and offers vast opportunities for
development. This is attributed to the diverse resources and potential of the country.
Andhra Pradesh is the leading shrimp producer, accounting for more than 50% of the total
output followed by Gujarat.
The Indian Government is promoting sustainable shrimp farming practices to produce
high-quality 'sustainable' shrimp in order to minimize the environmental effects of shrimp
aquaculture. Moreover, the Seafood Exporters Association of India (SEAI) and the Marine
Products Export Development Authority (MPEDA) are supporting the export of shrimp,
especially for ready-to-eat and ready-to-cook products.
Our Buyer includes companies from countries like BELGIUM, DENMARK, FRANCE, GERMANY,
GREECE, JAPAN, SOUTH KOREA, BUSAN, NETHERLANDS, USA, VIETNAM, SPAIN AND AUSTRALIA. We are
also ASC, BRC certified and HACCP which enables us to target different geographies and
increase our footprints. To support this growth, we have alongside embarked on several
marketing initiatives and planning to participate in all major exhibitions, Expo meets and
virtual Meetings. The Company also Plans to aggressively approach Domestic Market, by
various Means Which may include Digital Marketing, Direct and Network Marketing, Channel
Marketing, etc.
We would like to gladly announce that Zeal Aqua Ltd. Has been certified as "3-
Star Export House" for Aquaculture products. Previously, which was only, "2
Star Export House". The star rating system categorizes companies based on their
export performance, and these ratings can be helpful for exporters in various ways, such
as facilitating easier access to certain benefits and incentives from the government. A
3-Star rating indicates a certain level of export performance and achievement, though not
as high as the top ratings.
Here's a quick overview:
1- Star Export House: Recognizes initial efforts and basic export performance.
2- Star Export House: Indicates a more significant level of export performance.
3-Star Export House: Represents a higher level of export success and achievements.
I am grateful to you, our shareholders, who have shown unwavering faith in our
strategy. I value their dedication and commitment to the tasks at hand towards the pursuit
of our short and long-term goals. Also, I would also like to thank our regulators,
esteemed partners, and every one of our customers for placing their trust in us. Finally,
I would like to thank all my colleagues and their families, who have been true warriors
during these most challenging times. We reaffirm our commitment to delivering quality
growth and look forward to continuing the momentum we have built over these years.
Love and peace from us to you.
Sd/-
Shantilal Ishwarlal Patel
Chairman DIN:01362109