Sharat Industries Ltd., initially known as Sharat Seafoods Limited, was incorporated in 1990 and went public in 1992. The company, promoted by S Prasad Reddy, Smt S Devaku, and Top Fortune International, Singapore, is engaged in aquaculture, specifically culturing and processing shrimp. Initially focused on Black Tiger and Scampi shrimp, Sharat Industries revitalized the industry by introducing Vannamei shrimp breeding and culture in India. The company's product offerings include processed and frozen shrimp, quality hatched seed, and feed. They have a collaboration and buy-back agreement with High Won Fishery Development Corporation, Singapore.
Despite the completion of civil works for its processing plant, the commissioning was delayed due to industry challenges. The company faced financial difficulties, becoming a sick industrial company, and sought rehabilitation measures through the Board for Industrial and Financial Reconstruction (BIFR), which were initially rejected. With IFCI appointed as the operating agency, Sharat Industries is making efforts to address its accumulated losses and improve its operational outcomes.
