Devi Fisheries

Sector: Food & Beverage Processing (Fish Farming & Aquaculture)  |  HQ: India  |  Founded: Not separately disclosed  |  Employees: Not separately disclosed

Listed as: Privately held  | 

Company overview

Devi Fisheries operates in the food & beverage processing segment of the Indian market, with a presence noted in the fish farming & aquaculture category. The company is among the recognised participants in this segment alongside other Indian and multinational players. Operations follow the standard Companies Act 2013 disclosure framework where Devi Fisheries is incorporated as a private or public limited company under Indian law, with statutory audit, GST registration under the CGST Act 2017, and applicable sectoral compliance under FSSAI, BIS, MoEF, or sectoral regulators as relevant to the activity. The competitive set in fish farming & aquaculture includes pan-India brands, regional players, and multinational subsidiaries operating in India through wholly-owned or joint-venture structures.

Recent developments

March 2024 - March 2026

India's shrimp export sector is facing mounting headwinds that bear directly on Devi Fisheries' operations. US tariff hikes in April 2025 have disrupted Andhra Pradesh's vital shrimp export sector [5], while the Commerce Department's completion of the 19th India shrimp review in early 2026 imposed higher import duties on Indian shrimp [9]. A simultaneous US antidumping review assigned new duty rates to multiple companies operating in this space [10], underscoring the heightened trade friction impacting Indian seafood exporters. These policy developments compound an already challenging environment, as the Indian shrimp industry's growth was reported as stagnating in mid-2024 with feed sector contraction [7]. Reports of problems within India's shrimp industry also attracted broad responses in March 2024 [1], raising reputational considerations for major players. Visakhapatnam Port's emergence as India's top seafood export gateway by August 2025 [4] benefits the region where Devi Fisheries is headquartered. Prior to these headwinds, Devi Fisheries was recognized as India's largest seafood exporter in early 2018 [2], and an in-depth profile by Forbes India that same period examined the company's operations [3].

Sources (8)

1. Responses flood in to reports alleging problems in India’s shrimp industry - SeafoodSource · SeafoodSource · Fri, 22 Mar 2024
2. Devi Sea Foods: Getting under the shell of it - Forbes India · Forbes India · Thu, 10 Aug 2017
3. Devi Fisheries Gets Recognized as India's Largest Seafood Exporter - Seafoodnews · Seafoodnews · Mon, 29 Jan 2018
4. Visakhapatnam Port emerges as India’s top seafood export gateway - ETInfra.com · ETInfra.com · Thu, 28 Aug 2025
5. US Tariff Hike Disrupts Andhra Pradeshs Vital Shrimp Export Sector - TheWire.in · TheWire.in · Mon, 07 Apr 2025
6. Indian shrimp industry's growth stagnating, feed sector shrinking, Shrimp Insights report finds - SeafoodSource · SeafoodSource · Tue, 21 May 2024
7. Importers Face Higher Duties as Commerce Completes 19th India Shrimp Review - Seafoodnews · Seafoodnews · Tue, 03 Feb 2026
8. US antidumping review of Indian shrimp hits multiple companies with new duty rates - SeafoodSource · SeafoodSource · Tue, 03 Feb 2026

Financial performance and recent trajectory

Disclosed revenue (FY25): Not separately disclosed in segment-wise FY 2024-25 reporting.

Competitive position

Devi Fisheries occupies a position in the fish farming & aquaculture category alongside other listed and unlisted Indian players. Competitive intensity in the segment is shaped by raw material cost cycles, distribution depth, branded versus unbranded share, and the regulatory framework governing manufacturing, FSSAI labelling (for food), BIS standards (for engineering goods), or sectoral norms. The principal competitive moats in this category are typically scale, distribution reach, brand trust, and integrated procurement. KAMRIT's project report on fish farming & aquaculture benchmarks new entrant economics against the listed peer cost structure including capex per tonne (or per unit of output), working capital intensity, gross margin band, and the EBITDA delta between organised and unorganised participants.

Key risks

Input cost volatility in the fish farming & aquaculture value chain Competitive intensity from larger Indian groups and multinational subsidiaries Regulatory tightening under FSSAI, BIS, environmental norms, or labour codes

Outlook

Devi Fisheries is a participant in the Indian fish farming & aquaculture category, which forms part of the broader Food & Beverage Processing space. The Indian fish farming & aquaculture market continues to evolve with rising organised share, premiumisation, distribution expansion, and a regulatory architecture covering the Companies Act 2013, the Income Tax Act 1961, the CGST Act 2017, the Legal Metrology Act 2009, and sectoral statutes including the Food Safety and Standards Act 2006 (for food and beverage subsegments), the Drugs and Cosmetics Act 1940 (for pharmaceutical or healthcare adjacencies), the Environment Protection Act 1986 (for emissions and effluents), and labour codes consolidated under the four 2020 labour codes. In KAMRIT's project report framework for this category, the competitive set typically includes pan-India branded leaders, multinational subsidiaries, mid-sized regional players, and a long tail of MSME participants. The structural attractiveness of the category for new entrants is a function of (a) market growth rate, (b) the share that remains with unorganised or fragmented operators, (c) the cost of regulatory compliance, and (d) the capex intensity of plant and machinery. The KAMRIT bankable DPR for this category structures a new entrant's economics against this competitive landscape. For Devi Fisheries specifically, public-domain disclosures provide a baseline view of operations, but segment-wise revenue, EBITDA, capacity utilisation, and forward capex plans are not separately broken out in many cases. Where the company is part of a listed group, the SEBI LODR and the Companies Act 2013 governance framework apply, with statutory audit conducted under SA 700 and CARO 2020 reporting. Where the company is unlisted, the Companies Act 2013 framework continues to govern with reduced public disclosure. The risk and opportunity outlook for Devi Fisheries mirrors the broader fish farming & aquaculture category dynamics. Demand-side drivers include rising household consumption, urbanisation, organised retail expansion, and policy support including PLI schemes (where applicable to the segment). Supply-side risks include input cost volatility, regulatory tightening, environmental compliance escalation, and competitive intensity from larger groups or imports. Management quality, balance sheet strength, distribution depth, and the capex execution track record are the differentiators within the peer set. KAMRIT's research desk maintains a baseline reference for Devi Fisheries as a peer benchmark within the fish farming & aquaculture category. For investors, lenders, or new entrant promoters seeking a fuller assessment of Devi Fisheries, KAMRIT's deep-dive company profile engagement covers financial trajectory, capacity and capex, distribution and customer concentration, regulatory exposure, and the competitive position with named peers.

KAMRIT point of view

Building or competing with Devi?

KAMRIT advises promoters, family offices, and global enterprises evaluating greenfield entry into the food & beverage processing (fish farming & aquaculture) sector. Our Bankable DPR with Cost Model and ROI benchmarks your project economics against the listed-company cost structure of Devi and peers. The Execution Partnership tier covers everything from incorporation through commissioning. A 20-minute scoping call with our partners is free.

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Related KAMRIT project reports

These reports use Devi Fisheries in benchmarking and competitive analysis sections.

Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.