Murray Cod Australia posts significant biomass and revenue growth

Murray Cod Australia Limited (MCA) delivered a strong performance with a record biological asset value of A$67.8 million in FY25, a 111% increase year-on-year. This reflects a successful growth strategy, with grow-out biomass reaching 2,481 tonnes, up 198% year-on-year. The company reported a statutory NPAT of A$8.6 million in FY25, a significant turnaround from a loss of A$6.2 million in FY24, indicating a commercial inflection point.

Revenue for FY25 stood at A$10.9 million, constrained by the availability of saleable sized fish, a challenge being addressed by the increased biomass. For Q1 FY26 (July 1 to September 19), volumes are up 69% year-on-year, with September sales up 101% compared to the same period last year. MCA secured A$43 million in Westpac financing, replacing iPartners, to provide growth capital and continues to expand its sales channels domestically and internationally.

Key initiatives include Halal approval in Q1 FY26 and expected BAP certification in Q2 FY26, opening new markets. The company’s infrastructure now supports 4,000 tonnes of production capacity across 128 ponds. With 3.1 million grow-out fish at an average weight of 807 grams, MCA is positioned for consistent high-value supply and positive cashflow from FY26 onwards.