Uniroyal Marine Exports Ltd. was established in August 1992 in the state of Kerala with the aim of establishing a modern seafood processing factory to export value-added marine products to the USA, the European Union, and the Far East. The company is involved in various activities including purchasing, processing, curing, canning, freezing, selling, exporting, and trading marine products.
In September 1992, the company commenced operations by acquiring an existing unit known as 'Mermaid Foods' along with the acquisition of land. Uniroyal initiated a public issue in August 1993 to establish facilities for processing 135,000 tons per annum of Individually Quick Frozen (IQF) products and 4,200 tons per annum of Block Frozen sea products at Vengalam Village, near Calicut, Kerala. Commercial operations began in March 1994.
The company primarily exports to China, Australia, Malaysia, the USA, South Africa, and various European countries. Uniroyal Marine Exports Ltd. holds the prestigious Green Channel status for exporting cooked shrimp to the US.
However, the industry experienced a downturn, coupled with a depressed international market and high raw material procurement costs, which put pressure on the company's margins. The European Union's ban on marine imports from India in 1997 exacerbated its losses. To address this, the company upgraded its plant to meet European Union standards, resulting in the resumption of exports to European countries in 1998-99. This strategic move led to a significant improvement in the company's profit margins despite challenging industry conditions.
Uniroyal Marine Exports Ltd. has implemented the Hazard Analysis and Critical Control Points (HACCP) system in its factory and adheres to EU guidelines. It transitioned from 100% Export Oriented Unit (EOU) status to the Export Promotion Capital Goods (EPCG) Scheme to take advantage of the Duty Entitlement Pass Book Scheme.
Furthermore, the company constructed its own cold store with a capacity of 600 tons and obtained approval from The Marine Products Export Development Authority (MPEDA) for storing its products in 2005-06. In addition, machinery worth Rs. 3 crores was installed and commissioned at the factory during 2014-15.
In September 1992, the company commenced operations by acquiring an existing unit known as 'Mermaid Foods' along with the acquisition of land. Uniroyal initiated a public issue in August 1993 to establish facilities for processing 135,000 tons per annum of Individually Quick Frozen (IQF) products and 4,200 tons per annum of Block Frozen sea products at Vengalam Village, near Calicut, Kerala. Commercial operations began in March 1994.
The company primarily exports to China, Australia, Malaysia, the USA, South Africa, and various European countries. Uniroyal Marine Exports Ltd. holds the prestigious Green Channel status for exporting cooked shrimp to the US.
However, the industry experienced a downturn, coupled with a depressed international market and high raw material procurement costs, which put pressure on the company's margins. The European Union's ban on marine imports from India in 1997 exacerbated its losses. To address this, the company upgraded its plant to meet European Union standards, resulting in the resumption of exports to European countries in 1998-99. This strategic move led to a significant improvement in the company's profit margins despite challenging industry conditions.
Uniroyal Marine Exports Ltd. has implemented the Hazard Analysis and Critical Control Points (HACCP) system in its factory and adheres to EU guidelines. It transitioned from 100% Export Oriented Unit (EOU) status to the Export Promotion Capital Goods (EPCG) Scheme to take advantage of the Duty Entitlement Pass Book Scheme.
Furthermore, the company constructed its own cold store with a capacity of 600 tons and obtained approval from The Marine Products Export Development Authority (MPEDA) for storing its products in 2005-06. In addition, machinery worth Rs. 3 crores was installed and commissioned at the factory during 2014-15.
