Abstract: Animal feed is currently evolving from a fragmented industry into an organized sector. They are using increasingly modern and sophisticated methods in an effort to incorporate global best practices. Both the industry growth and potential are evident from the fact that India is currently among the largest livestock-producing countries in the world, and that to date the feed industry has been characterized by home mixers. The report aims to capture the state of the industry at present and highlight the key issues affecting it, while also presenting a view of the industry immediate future. The present case is prepared to understand the financial performance trends of the Indian aqua feed companies and to assess the reasons for financial and performance gaps in the companies. The companies taken for the purpose of study are pancharathana companies in the aqua feed industry. The notable challenges responsible for the financial performance of aqua feed companies are technology environment of the industry, entry of china based companies with innovative marketing strategies, modern sources of financing with investment consulting companies, advanced planning of logistics and supply chin operations on both vendor and customer side, and finally internal operational control lapses that trigger the idle time and accidents in aqua feed companies. The strategies evolved to arrest these lapses can be a good learning lesson and corrective measure from the industry perspective. The financial performance explained through ratios can highlight the financial trends and progress of the industry in a brief way.