Captain Fresh FY26: Revenue Rises 52%, Profit Falls 54%
Captain Fresh acquires Frime and restructures its domestic business
Captain Fresh completed its acquisition of Spain-based tuna processor Frime in March 2026. During FY26, the company also classified its Dayscatch, B2B non-factory and other domestic business segments as discontinued operations after deciding to transfer them as part of a strategic restructuring exercise.
Captain Fresh’s operating revenue rose 52% to ₹5,093 Cr in FY26 from ₹3,352.3 Cr in FY25, while consolidated net profit declined 54% to ₹19.6 Cr from ₹42.4 Cr. Its adjusted EBITDA rose 2.7X to ₹371 Cr.
Captain Fresh’s FY26 business
Founded in 2020 by Utham Gowda, Captain Fresh began as a tech-led B2B seafood supply chain platform and has expanded into a global packaged seafood business. It operates seafood brands across Europe and North America, including Frime in Spain, Koral in Poland, Senecrus in France and CFT in Denmark through a joint venture.
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In North America, the company distributes through CenSea, Ocean Garden and Ocean Edge, largely across foodservice channels. It sources seafood from more than 30 countries across three oceans and said it serves nearly 2,500 customers, including more than 50 of the world’s largest seafood buyers.
Captain Fresh’s financial position
Captain Fresh incurred ₹30 Cr in IPO-related costs and reported ₹2,300 Cr in debt at the end of FY26. Its debt-to-equity ratio was 1.6, and it is targeting a reduction to 1.3-1.5.
Captain Fresh’s IPO papers have not yet been refiled after the Frime acquisition.
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