Kings Infra — a leading seafood exporter — has secured a working capital of Rs 40 crore from Punjab National Bank to launch ready-to-cook and ready-to-eat products in the Indian market.

Shaji Baby John, chairman and managing director, said the products will be available under its marquee brand, King Bento. There are also plans to tap the rising demand for premium seafood, given the surging demand for high-quality antibiotic-free seafood in domestic and overseas markets.  

Akshay Agarwal, Managing Director, Acumen Capital Services Ltd, said the shares of Kings Infra were up by 4.2 per cent to Rs 167 on the BSE. The company, a prominent name in marine product processing and export for the past four decades, has been consistently turning out excellent financial results for the past several quarters.

For the first half-year ended September 2023, the company reported revenue of Rs 42 crore and net profit of Rs 4.36 crore against Rs 25 crore sales and net profit of Rs 2.2 crore in the same period last fiscal. The entry into the retail consumer market is another significant milestone in the growth journey, he said.

John said the company bagged two long-term contracts for supply of vannamei shrimps to China and the US, worthover Rs 100 crore per annum each. The added capital will help the company tap new markets and increase its turnover to Rs 100 crore from Rs 60 crore last year, he added.

To scale up activities to meet export commitments, he said Kings Infra has drawn up an arrangement to become a merchant exporter for leading processing plants. “We have entered the domestic market this year considering the big opportunity for premium quality healthy food options in institutional packs as well as retail packs for B2B and B2C customers,” he added.