Captain Fresh, a Bengaluru-based B2B seafood brand, reported a 52% rise in consolidated net revenue to ₹5,169 crore in FY26, up from ₹3,397 crore in FY25. The company’s adjusted EBITDA nearly tripled to ₹371 crore from ₹136 crore, marking its second consecutive year of profitability, according to a statement by the company this week.
The company’s gross margin expanded to 23.5% in FY26 from 17% in FY25. While Captain Fresh did not disclose its FY26 net profit, it confirmed it remained PAT-positive, following a ₹42 crore net profit in FY25. Group CFO and whole-time director Mathew George said FY26 tested the industry with tariffs and trade disruptions, but the company emerged stronger. Captain Fresh carried higher inventory to ensure uninterrupted supply amid global disruptions, which contributed to higher working capital financing.
Captain Fresh ended FY26 with ₹2,300 crore in debt, including ₹440 crore in long-term debt, and a debt-to-equity ratio of 1.6. The company aims to reduce this ratio to between 1.3 and 1.5. It is targeting ₹10,000 crore in revenue for FY27, focusing on scaling its existing portfolio and infrastructure. The company has yet to file its audited financial statements for FY26.
Captain Fresh’s performance highlights its resilience in a challenging trade environment and positions it for growth ahead of its planned IPO. The company’s next milestone is achieving ₹10,000 crore in revenue in FY27, as stated by its leadership.