# Aquaculture — company-by-company sector analysis > Aquaculture: Sharat Industries Ltd owns the largest revenue base AND the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-02. Not investment advice. ## Bottom line Aquaculture has outperformed NIFTY 500 by 32.3% over 52 weeks and 7.9% over 13 weeks. 1 of 1 covered companies beat NIFTY on Mansfield relative strength, while 0 of 1 beat the sector itself. Sharat Industries Ltd leads with revenue of ₹525 crore, based on 1 of 1 comparable companies through Mar 2026. ## Sector relative strength Aquaculture has outperformed NIFTY 500 by 32.3% over the last 52 weeks. Over 13 weeks the gap is a lead of 7.9%. 1 of 1 covered company currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Sharat Industries Ltd is the strongest against the sector itself at 0%. Readings are as of 2026-07-19. 13-week sector return versus NIFTY 500: 7.9% 52-week sector return versus NIFTY 500: 32% Stocks leading NIFTY: 1/1 Stocks leading sector: 0/1 Central tension: The central tension: current leadership is concentrated, so durability matters more than rank. Companies: 1 Combined market value: ₹635 Cr ## 4-Factor Sector Score An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment. 1. Sharat Industries Ltd (SHINDL): 56/100 — Mixed-positive evidence; evidence 78% - Growth & earnings 23.8/35 | Capital efficiency 10.3/25 | Valuation 9.2/20 | Relative strength 12.5/20 - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of 7 weeks with a reading, within the last 12 - Exact sum: 23.8 + 10.3 + 9.2 + 12.5 = 55.8 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. ## Market action Sharat Industries Ltd has the strongest one-year price move in Aquaculture at +44.2%. It also leads on Mansfield relative strength against NIFTY at +10.8%. 1 of 1 covered company is above zero on that measure. Every line covers 313 weekly closes through 2026-07-31. ### Strongest one-year price performers 1. Sharat Industries Ltd (SHINDL): 44% ### Strongest relative strength versus NIFTY 500 1. Sharat Industries Ltd (SHINDL): 11% ## Revenue Scale & Growth Durability What the numbers say: Sharat Industries Ltd is the scale leader at ₹525 crore, Sharat Industries Ltd's growth is 37.9% from a ₹525 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale. Investor read: Sharat Industries Ltd is the scale benchmark; Sharat Industries Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns. This conclusion weakens if: Sharat Industries Ltd's growth falls below Sharat Industries Ltd's for two consecutive comparable reports while operating margin also compresses. Evidence: Sharat Industries Ltd · ₹525 crore | Not enough peers | 8/8 recent comparable periods | 1/1 companies · 14 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. Sharat Industries Ltd (SHINDL): ₹525 Cr ### Revenue growth — fastest growers 1. Sharat Industries Ltd (SHINDL): 38% ### 20-quarter Revenue history - SHINDL: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹85 Cr | Mar 2023 ₹63 Cr | Jun 2023 ₹80 Cr | Sep 2023 ₹97 Cr | Dec 2023 ₹61 Cr | Mar 2024 ₹65 Cr | Jun 2024 ₹90 Cr | Sep 2024 ₹100 Cr | Dec 2024 ₹96 Cr | Mar 2025 ₹94 Cr | Jun 2025 ₹115 Cr | Sep 2025 ₹150 Cr | Dec 2025 ₹143 Cr | Mar 2026 ₹117 Cr ### 20-quarter Revenue growth history - SHINDL: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -29% | Mar 2024 3.3% | Jun 2024 12% | Sep 2024 3.6% | Dec 2024 59% | Mar 2025 45% | Jun 2025 28% | Sep 2025 49% | Dec 2025 48% | Mar 2026 25% ## Operating Economics & Margin Trend What the numbers say: Sharat Industries Ltd leads both opm at 2.8% and margin change at -1.6 percentage points. Investor read: Sharat Industries Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current margin change signal. Evidence: Sharat Industries Ltd · 2.8% | Not enough peers | 4/8 recent comparable periods | 1/1 companies · 20 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. Sharat Industries Ltd (SHINDL): 2.8% ### Margin change — fastest expanders 1. Sharat Industries Ltd (SHINDL): −1.6 pp ### 20-quarter OPM history - SHINDL: Jun 2021 6.3% | Sep 2021 5.5% | Dec 2021 5.6% | Mar 2022 4.3% | Jun 2022 5.6% | Sep 2022 5.6% | Dec 2022 5.2% | Mar 2023 5.9% | Jun 2023 7.2% | Sep 2023 7.4% | Dec 2023 7.7% | Mar 2024 5.5% | Jun 2024 8.2% | Sep 2024 9.2% | Dec 2024 8.1% | Mar 2025 4.4% | Jun 2025 9.8% | Sep 2025 8.0% | Dec 2025 6.7% | Mar 2026 2.8% ### 20-quarter Margin change history - SHINDL: Jun 2021 +0.5 pp | Sep 2021 +0.6 pp | Dec 2021 +2.0 pp | Mar 2022 +0.8 pp | Jun 2022 −0.7 pp | Sep 2022 +0.1 pp | Dec 2022 −0.3 pp | Mar 2023 +1.6 pp | Jun 2023 +1.7 pp | Sep 2023 +1.9 pp | Dec 2023 +2.5 pp | Mar 2024 −0.4 pp | Jun 2024 +1.0 pp | Sep 2024 +1.8 pp | Dec 2024 +0.4 pp | Mar 2025 −1.0 pp | Jun 2025 +1.6 pp | Sep 2025 −1.2 pp | Dec 2025 −1.4 pp | Mar 2026 −1.6 pp ## Profit Scale & Acceleration What the numbers say: Sharat Industries Ltd leads with ₹16 crore of TTM profit, Sharat Industries Ltd shows 59.6% growth from a ₹16 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale. Investor read: Sharat Industries Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current profit growth signal. Evidence: Sharat Industries Ltd · ₹16 crore | Not enough peers | 7/8 recent comparable periods | 1/1 companies · 14 observations Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank. ### Net profit — largest 1. Sharat Industries Ltd (SHINDL): ₹16 Cr ### Profit growth — fastest growers 1. Sharat Industries Ltd (SHINDL): 60% ### 20-quarter Net profit history - SHINDL: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹2 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹4 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹5 Cr | Sep 2025 ₹6 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹0 Cr ### 20-quarter Profit growth history - SHINDL: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -50% | Mar 2024 29% | Jun 2024 70% | Sep 2024 33% | Dec 2024 190% | Mar 2025 47% | Jun 2025 75% | Sep 2025 54% | Dec 2025 80% | Mar 2026 -91% ## Return On Capital Employed What the numbers say: Sharat Industries Ltd leads ROCE at 12.9%. Sharat Industries Ltd has the strongest latest improvement at +0.6 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability. Investor read: Sharat Industries Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current roce change signal. Evidence: Sharat Industries Ltd · 12.9% | Not enough peers | 6/8 recent comparable periods | 1/1 companies · 15 observations Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability. ### ROCE — highest 1. Sharat Industries Ltd (SHINDL): 13% ### ROCE change — fastest improvers 1. Sharat Industries Ltd (SHINDL): +0.6 pp ### 20-quarter ROCE history - SHINDL: Jun 2021 11% | Sep 2021 — | Dec 2021 — | Mar 2022 8.6% | Jun 2022 12% | Sep 2022 — | Dec 2022 — | Mar 2023 16% | Jun 2023 — | Sep 2023 18% | Dec 2023 18% | Mar 2024 17% | Jun 2024 19% | Sep 2024 17% | Dec 2024 22% | Mar 2025 16% | Jun 2025 24% | Sep 2025 18% | Dec 2025 25% | Mar 2026 16% ### 20-quarter ROCE change history - SHINDL: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +1.0 pp | Sep 2022 — | Dec 2022 — | Mar 2023 +7.5 pp | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +0.6 pp | Jun 2024 — | Sep 2024 −1.0 pp | Dec 2024 +3.4 pp | Mar 2025 −0.9 pp | Jun 2025 +4.4 pp | Sep 2025 +1.1 pp | Dec 2025 +2.8 pp | Mar 2026 +0.6 pp ## Valuation Against Growth & Quality What the numbers say: There is not enough comparable evidence to name a reliable peg leader. Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy. This conclusion weakens if: The next two comparable reports reverse the current p/e signal. Evidence: No comparable leader | Not enough peers | Not enough history | 0/1 companies · 0 observations Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing. ### PEG — lowest PEG ### P/E — lowest P/E 1. Sharat Industries Ltd (SHINDL): 40.0 ### 20-quarter PEG history ### 20-quarter P/E history - SHINDL: Jun 2021 18.8 | Sep 2021 — | Dec 2021 47.5 | Mar 2022 53.2 | Jun 2022 19.0 | Sep 2022 25.5 | Dec 2022 16.2 | Mar 2023 16.7 | Jun 2023 25.2 | Sep 2023 22.0 | Dec 2023 25.9 | Mar 2024 22.3 | Jun 2024 27.5 | Sep 2024 26.5 | Dec 2024 35.4 | Mar 2025 30.3 | Jun 2025 42.1 | Sep 2025 83.7 | Dec 2025 92.1 | Mar 2026 95.8 ## What can make this comparison misleading? - A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason. - A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment. - The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed. - An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion. - 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears. - Thin comparisons: Valuation have fewer than three usable current readings. ## Every company - Sharat Industries Ltd (SHINDL) — market value ₹635 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures ## Source standing of each company Cross-checked: 0. Unverified: 1. Withheld: 0. Graded companies: 1. 1 of 1 company draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. - UNVERIFIED | SHINDL | Sharat Industries Ltd | too little overlapping reported history to cross-check the second feed ## Methodology and freshness Fundamentals through Mar 2026; prices through 2026-07-31. Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### Is the Aquaculture sector outperforming NIFTY 500? Aquaculture has outperformed NIFTY 500 by 32.3% over 52 weeks and 7.9% over 13 weeks. 1 of 1 covered companies beat NIFTY on Mansfield relative strength, while 0 of 1 beat the sector itself. ### Which Aquaculture company is largest by revenue? Sharat Industries Ltd leads with revenue of ₹525 crore, based on 1 of 1 comparable companies through Mar 2026. ### Which Aquaculture company is growing fastest? Sharat Industries Ltd has the fastest current revenue growth at 37.9%, across 1 of 1 comparable companies. ### Which Aquaculture company has the strongest 4-Factor Sector Score? Sharat Industries Ltd ranks first at 55.8/100 with 78% evidence confidence. The score prioritizes research; it is not a buy recommendation. ### How much history does this Aquaculture comparison include? The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated. ### How is the 4-Factor Sector Score calculated? The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral. ### What is the Nifty Aquaculture index? The Nifty Aquaculture index tracks India's listed Aquaculture companies as a single basket. This page follows the same 1 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Aquaculture sector rather than to its largest constituent. Figures are as of Mar 2026. ### Which are the best Aquaculture stocks in India? Ranked by this page's four-factor score, Sharat Industries Ltd places first among 1 listed Aquaculture companies. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Mar 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser. ### How many Aquaculture stocks are listed in India? This comparison covers 1 listed Aquaculture companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Mar 2026. ### Which Aquaculture company is the biggest? Sharat Industries Ltd is the largest, with trailing-twelve-month revenue of ₹525 crore. That covers 1 of 1 companies with comparable reporting through Mar 2026. ### Which Aquaculture company has the best profit margins? Sharat Industries Ltd has the highest operating margin at 2.8%, from 1 of 1 comparable companies. Sharat Industries Ltd shows the biggest recent improvement, at -1.6 percentage points. A high margin matters most when it is holding or rising, not when it is peaking. ### Which Aquaculture company makes the most profit? Sharat Industries Ltd earns the most, at ₹16 crore of trailing-twelve-month net profit, from 1 of 1 comparable companies. Sharat Industries Ltd has the fastest profit growth at 59.6%, though growth off a small or recovering profit base overstates how much has actually changed. ### Which Aquaculture company earns the highest return on capital? Sharat Industries Ltd leads on return on capital employed at 12.9%, across 1 of 1 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year. ### Is the Aquaculture sector beating the market? Aquaculture has outperformed NIFTY 500 by 32.3% over the last 52 weeks and 7.9% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 1 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it. ### Which Aquaculture stock has the strongest price momentum? Sharat Industries Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all. ### Which Aquaculture company scores highest for research priority? Sharat Industries Ltd scores 55.8 out of 100 with 78% evidence confidence, from 23.8 points on growth and earnings, 10.3 on capital efficiency, 9.2 on valuation and 12.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research. ### How many Aquaculture companies does this comparison cover, and over what period? It compares 1 listed companies over up to 20 reported quarters of fundamentals, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data. ### What is the total market cap of the Aquaculture sector? The 1 Aquaculture companies on this page carry ₹635 crore of combined market value. Sharat Industries Ltd is the largest at ₹635 crore, about 100% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-02. ### How is the Aquaculture sector performing? 1 of the 1 covered Aquaculture companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 32.3% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-02. ### Why are some values on this page blank? A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad. ### Is this investment advice? No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.