Seafood Exporter Announces 1:5 Share Split and Major Expansion Plans!
Company aims to unlock value and strengthen its global market position
Share Split Announcement
Coastal Corporation Limited (CCL) has announced that its board will consider fixing a record date for the subdivision of its equity shares. The proposal involves splitting one fully paid-up equity share of Rs 10 into five fully paid-up shares of Rs 2 each. This move aims to enhance liquidity and make the shares more affordable for investors.
Company Overview
Incorporated in 1981, Coastal Corporation Limited is engaged in processing and exporting seafood. The company is a HACCP, BRC, and BAP-certified producer, specializing in sourcing, processing, and packaging shrimp for international markets. Its product range includes sea-caught and aquaculture shrimp, available in both raw and processed forms.
Product Range
CCL offers various shrimp varieties, including Sea Tiger, White, and Pink Brown from the sea and Vannamei and Black Tiger from aquaculture. The product portfolio includes headless shell-on, peeled and deveined, butterfly, and cooked shrimp, catering to diverse customer needs.
Export Markets
The company is a 100 per cent export-oriented unit, with the USA accounting for nearly 83 per cent of its revenue. Other key markets include China, Korea, Brunei, UAE, Saudi Arabia, Japan, and Russia. CCL has also partnered with Mitsubishi Corporation’s Toyo Reizo Co. Ltd. and SPC GFS Co. Ltd. to expand its presence in Japan and Korea.
Processing Facilities and Production Capacity
CCL operates three processing units in Andhra Pradesh with a combined capacity of over 100 MTPD across plate freezing, blast freezing, and cooking. The company also has a 3.6 MW captive solar power plant.
Expansion Plans
CCL is setting up an ethanol plant in Odisha with an estimated investment of Rs 156 crore. Additionally, the company is developing a new shrimp processing facility in Odisha with a capacity of 12 MTPD, further strengthening its product offerings.
Conclusion
With strategic expansions and a planned share split, Coastal Corporation is positioning itself for long-term growth while enhancing its market reach and production capabilities.
Disclaimer: The article is for informational purposes only and not investment advice.