Mukka Proteins Ltd
Incorporated in 2003, Mukka Proteins
Ltd is a manufacturer and exporter
of Fish Meal and Fish oil[1]
- Market Cap ₹ 780 Cr.
- Current Price ₹ 26.0
- High / Low ₹ 43.9 / 23.8
- Stock P/E 18.2
- Book Value ₹ 13.6
- Dividend Yield 0.00 %
- ROCE 11.4 %
- ROE 10.8 %
- Face Value ₹ 1.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 31.4% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 10.2% over past five years.
- Debtor days have increased from 47.4 to 63.8 days.
- Working capital days have increased from 52.8 days to 105 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 407 | 546 | 536 | 693 | 1,066 | 1,269 | 887 | 970 | |
| 383 | 526 | 529 | 660 | 1,000 | 1,187 | 811 | 887 | |
| Operating Profit | 25 | 20 | 7 | 33 | 66 | 81 | 76 | 84 |
| OPM % | 6% | 4% | 1% | 5% | 6% | 6% | 9% | 9% |
| 2 | 8 | 9 | 8 | 9 | 20 | 17 | 20 | |
| Interest | 4 | 7 | 7 | 8 | 15 | 24 | 34 | 41 |
| Depreciation | 2 | 3 | 3 | 4 | 4 | 6 | 6 | 6 |
| Profit before tax | 21 | 19 | 6 | 28 | 55 | 72 | 53 | 56 |
| Tax % | 25% | 32% | 24% | 30% | 28% | 12% | 21% | |
| 15 | 13 | 5 | 20 | 39 | 63 | 42 | 43 | |
| EPS in Rs | 0.90 | 1.79 | 2.09 | 1.39 | 1.44 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 9% |
| TTM: | -2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 30% |
| TTM: | 23% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -38% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 19% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 22 | 22 | 30 | 30 | 30 |
| Reserves | 40 | 52 | 57 | 60 | 100 | 335 | 374 | 379 |
| 81 | 112 | 126 | 162 | 238 | 332 | 418 | 572 | |
| 70 | 88 | 99 | 84 | 141 | 154 | 152 | 131 | |
| Total Liabilities | 197 | 257 | 288 | 329 | 500 | 851 | 974 | 1,112 |
| 44 | 46 | 49 | 50 | 52 | 60 | 60 | 67 | |
| CWIP | 0 | 1 | 0 | 0 | 0 | 0 | 4 | 11 |
| Investments | 10 | 7 | 12 | 21 | 24 | 34 | 44 | 53 |
| 143 | 204 | 228 | 259 | 424 | 757 | 867 | 981 | |
| Total Assets | 197 | 257 | 288 | 329 | 500 | 851 | 974 | 1,112 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -22 | -24 | -2 | -15 | -47 | -141 | -132 | |
| -19 | 2 | -5 | -7 | 1 | -46 | -18 | |
| 31 | 23 | 8 | 27 | 61 | 258 | 60 | |
| Net Cash Flow | -10 | 0 | 0 | 5 | 15 | 71 | -91 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 22 | 36 | 18 | 28 | 37 | 41 | 64 |
| Inventory Days | 94 | 68 | 108 | 88 | 87 | 135 | 274 |
| Days Payable | 59 | 58 | 59 | 44 | 49 | 43 | 69 |
| Cash Conversion Cycle | 57 | 47 | 67 | 72 | 75 | 133 | 269 |
| Working Capital Days | 9 | 10 | 6 | 6 | 10 | 43 | 105 |
| ROCE % | 15% | 6% | 16% | 23% | 18% | 11% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2d - JV awarded ₹474.89 crore BSWML leachate treatment contract dated 03-Dec-2025, four-year execution period.
-
Intimation Of Appointment Of IRA.
2 Dec - Ernst & Young LLP appointed Mukka Proteins' Investor Relations consultant, effective 1 December 2025.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Nov
-
Renewal Of Consent For Operation (CFO-Air, Water) For The Subsidiary Comapny And Group Companies.
13 Nov - CFO (Air, Water) renewed for Haris Marine, Mangalore & Ullal entities; valid 12-11-2025 to 30-09-2032.
-
Announcement under Regulation 30 (LODR)-Acquisition
12 Nov - Mukka to acquire 68% of United Gulf Fishery Products LLC for ₹1,00,00,000; completion by 31-03-2026.
Business Overview:[1]
MPL manufactures Fish Protein products and supplies fish meal, fish oil and fish soluble paste
which is an essential ingredient in manufacturing of aqua feed (for fish and shrimp), poultry feed (for broiler and layer) and pet food (dog and cat food). Further, fish oil also finds application in pharmaceutical products (Omega-3 pills and related products derived from fish oil), soap manufacturing, leather tanneries and paint industries