Captain Fresh's FY26 Profit Halves To ₹20 Cr Despite 52% YoY Revenue Jump

IPO-bound business-to-business seafood platform Captain Fresh reported a 54% decrease in net profit for the fiscal year ended March 31, 2026 (FY26). The company's net profit fell to ₹19.6 crore (approximately $2.3 million USD) from ₹42.4 crore in FY25.

This profit decline occurred despite a significant 52% rise in consolidated operating revenue, which grew to ₹5,093 crore (approximately $610 million USD) from ₹3,352.3 crore in FY25. According to the company's annual report, the drop in profit was primarily attributed to one-time IPO-related expenses, a shift from a tax credit to a tax expense, higher losses from discontinued operations, and increased impairment charges.

Exceptional items related to IPO preparations, including legal and advisory costs, amounted to ₹30 crore. Furthermore, the company incurred a tax expense of ₹29.4 crore in FY26, contrasting with a tax credit of ₹36.2 crore in the previous fiscal year. Excluding these exceptional items, profit before exceptional items and tax saw a substantial increase, rising to ₹105.8 crore from ₹27.6 crore.

Captain Fresh's total debt stood at ₹2,300 crore at the end of FY26. The company increased its inventory levels during the fiscal year to ensure uninterrupted customer supply amidst global disruptions. Captain Fresh has projected revenue of ₹10,000 crore for FY27. The company had previously deferred its IPO plans in 2025 to finalize a European acquisition, which was completed in March 2026.