Mukka Proteins Ltd
Incorporated in 2003, Mukka Proteins
Ltd is a manufacturer and exporter
of Fish Meal and Fish oil[1]
- Market Cap ₹ 641 Cr.
- Current Price ₹ 21.4
- High / Low ₹ 34.9 / 20.2
- Stock P/E 17.5
- 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.
Peer comparison
Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Animal Feed
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 | 1,242 | |
| 383 | 526 | 529 | 660 | 1,000 | 1,187 | 811 | 1,162 | |
| Operating Profit | 25 | 20 | 7 | 33 | 66 | 81 | 76 | 80 |
| OPM % | 6% | 4% | 1% | 5% | 6% | 6% | 9% | 6% |
| 2 | 8 | 9 | 8 | 9 | 20 | 17 | 20 | |
| Interest | 4 | 7 | 7 | 8 | 15 | 24 | 34 | 45 |
| Depreciation | 2 | 3 | 3 | 4 | 4 | 6 | 6 | 6 |
| Profit before tax | 21 | 19 | 6 | 28 | 55 | 72 | 53 | 49 |
| Tax % | 25% | 32% | 24% | 30% | 28% | 12% | 21% | |
| 15 | 13 | 5 | 20 | 39 | 63 | 42 | 37 | |
| EPS in Rs | 0.90 | 1.79 | 2.09 | 1.39 | 1.23 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 9% |
| TTM: | 57% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 30% |
| TTM: | -28% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -36% |
| 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% |
Insights
In beta| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Fish Meal Export Volume MT |
|
|||||||
| Fish Oil Export Volume MT |
||||||||
| Aggregate Installed Capacity - Fish Meal MTPA |
||||||||
| BSF Larvae Harvested MT |
||||||||
| Fish Meal Sales Volume MT |
||||||||
| Fish Oil Sales Volume MT |
||||||||
| Manufacturing Capacity Utilization (India Facilities) % |
||||||||
| Inventory Holding Period Days |
||||||||
| Market Share in Indian Fish Meal & Fish Oil Industry (by Revenue) % |
||||||||
Documents
Announcements
-
Intimation Of Name Change Of Subsidiary Entity.
2d - Subsidiary MPL HRC ECOSOLUTIONS LLP renamed MPL HRC JATHIN ECOSOLUTIONS LLP, MCA approved, 17-Mar-2026.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
9 Mar - Virtual one-on-one investor meeting with QRC Investment Advisors LLP on 12 March 2026; presentation online.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
6 Mar - Of Analyst/Investor Meet with ICICI Securities and Kotak MF (One on One).
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2 Mar
-
Receipt Of Marintrust Improver Programme Compliance Confirmation.
28 Feb - Received MarinTrust Improver Programme confirmation from Global Trust Certification (NSF); validity three years, dated 28-02-2026.
Concalls
-
Feb 2026TranscriptAI SummaryPPT
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