Green Asia plans 21,900 MTPA shrimp capacity despite low use

Green Asia plans to raise shrimp processing capacity to 21,900 metric tonnes per annum (MTPA) from 10,800 MTPA, although its Fiscal 2026 net capacity utilisation was 38.38% in block freezing and 13.00% in individual quick freezing. The proposed facility is expected to start commercial operations in Fiscal 2029, subject to approvals and project execution.

How does Green Asia plan 21,900 MTPA shrimp capacity?

Green Asia plans to add a shrimp processing facility at Chinnayagudem Village, Andhra Pradesh, increasing installed capacity by 11,100 MTPA from the existing three-shift capacity of 10,800 MTPA to 21,900 MTPA. The existing Unguturu, Tadepalligudem facility has annual capacity of 7,200 MTPA for block freezing and 3,600 MTPA for individual quick freezing, or IQF, a method in which shrimps are frozen individually so that they remain free-flowing.

Green Asia proposes to use Rs 40.0277 crore from the net proceeds of its Fresh Issue to establish the seafood processing facility, including plant, machinery and equipment. The existing shrimp facility has a built-up area of 1,838.76 square metres, while the proposed facility is planned with an approximately 4,955.69-square-metre built-up area. Green Asia says the expansion is intended to handle higher shrimp volumes, optimise the mix between block freezing and IQF, including ready-to-cook products, and support existing export operations.

How fully is Green Asia using its current shrimp plant?

Green Asia was using less than 40% of its existing block-freezing capacity on a net-output basis in Fiscal 2026, and IQF utilisation was 13.00%. Net actual production adjusts gross output for average processing wastage, while net capacity utilisation divides that net output by installed capacity. The two processing lines therefore recorded different production levels despite operating within the same 10,800-MTPA installed base.

Block-freezing net utilisation declined from 39.25% in Fiscal 2025 to 38.38% in Fiscal 2026, although it remained above the 37.03% reported in Fiscal 2024. IQF net utilisation rose from 0.36% in Fiscal 2024 and 5.50% in Fiscal 2025 to 13.00% in Fiscal 2026, but its 468 MT net output remained below its 3,600-MTPA installed capacity. Green Asia reports average wastage of 30.00% for block freezing and 35.00% for IQF in each of the three fiscal years.

What demand case supports Green Asia's new shrimp facility?

Green Asia's disclosed demand case rests on a larger product range, export-market expansion and Fiscal 2026 growth in shrimp revenue rather than full use of the existing plant. Domestic shrimp revenue rose to Rs 208.2207 crore in Fiscal 2026 from Rs 168.238 crore in Fiscal 2025, while shrimp export revenue increased to Rs 128.6073 crore from Rs 104.3133 crore. Green Asia exported to China, Kuwait, the USA, Malaysia, the UK, Vietnam and Thailand as of March 31, 2026.

Total revenue from operations increased to Rs 383.8039 crore in Fiscal 2026 from Rs 337.6221 crore in Fiscal 2025 and Rs 317.3866 crore in Fiscal 2024. However, total export revenue fell to Rs 144.8828 crore in Fiscal 2026 from Rs 153.7947 crore in Fiscal 2025 because dried-chillies export revenue declined to Rs 16.2755 crore from Rs 49.4814 crore. The reported revenue increase was therefore led by domestic sales, including shrimp, rather than an increase in aggregate exports.

Green Asia also identifies product formats as part of the proposed capacity case. Its current shrimp products include head-on shell-on, headless shell-on and peeled-and-deveined formats; it proposes to evaluate semi-cooked, IQF, portion-controlled and ready-to-cook shrimp for food-service distributors, retail chains and private-label customers. These proposed formats remain subject to customer demand, market conditions, operational feasibility and regulatory approvals, so they are plans rather than reported sales volumes.

What must happen for Green Asia's expansion to deliver its stated capacity?

Green Asia must obtain required approvals and complete construction, equipment installation, commissioning and trial runs for commercial operations to begin in Fiscal 2029. The 21,900-MTPA figure is an annual installed-capacity measure, not a production forecast. It is based on Green Asia's stated expansion plan and does not establish how much of the new capacity will be utilised once operations begin.

The existing 10,800-MTPA capacity assumes three eight-hour shifts per day and 300 working days per year, with rated daily processing capacity of 24 MT for block freezing and 12 MT for IQF. These assumptions require adequate raw-material supply, skilled and semi-skilled labour, uninterrupted power, scheduled maintenance and no material lockdowns, strikes or prolonged shutdowns. Actual output changes with machine utilisation, product mix, working days, shifts, manpower availability and maintenance or operational downtime.

Green Asia says its current facility cannot be substantially scaled within existing infrastructure because of operational, space and logistical constraints. Its procurement depends on trader-cum-commission agents in Agricultural Market Committee markets for shrimps and dried chillies, while shrimp availability is generally highest from October to July and moderate in August and September. Continued raw-material access and customer orders will therefore matter alongside construction progress in determining whether added capacity is used.

Conclusion

Green Asia is pursuing a more-than-doubling of installed shrimp capacity, supported by a proposed Rs 40.0277 crore use of Fresh Issue proceeds, a larger planned processing site and Fiscal 2026 increases in domestic and export shrimp revenue. The central contrast is that the current facility had net utilisation of 38.38% in block freezing and 13.00% in IQF during Fiscal 2026, leaving unused capacity under Green Asia's reported three-shift basis.

The next disclosed milestone is the expected Fiscal 2029 start of commercial operations at Chinnayagudem Village, conditional on approvals, construction, installation, commissioning and trial runs. The relevant developments are whether Green Asia builds demand for proposed value-added formats and additional geographies, and whether raw-material supply, labour, power and actual shift operation support utilisation beyond the levels reported for Fiscal 2024 through Fiscal 2026.