Mukka Proteins Ltd
Incorporated in 2003, Mukka Proteins
Ltd is a manufacturer and exporter
of Fish Meal and Fish oil[1]
- Market Cap ₹ 611 Cr.
- Current Price ₹ 20.4
- High / Low ₹ 34.6 / 18.3
- Stock P/E 13.6
- Book Value ₹ 14.8
- Dividend Yield 0.00 %
- ROCE 11.6 %
- ROE 11.1 %
- Face Value ₹ 1.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 32.5% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 52.2 to 72.5 days.
- Working capital days have increased from 51.2 days to 99.0 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 409 | 549 | 604 | 770 | 1,177 | 1,380 | 1,006 | 1,450 | |
| 385 | 525 | 582 | 723 | 1,091 | 1,274 | 912 | 1,342 | |
| Operating Profit | 23 | 24 | 22 | 48 | 86 | 105 | 95 | 109 |
| OPM % | 6% | 4% | 4% | 6% | 7% | 8% | 9% | 8% |
| 2 | 8 | 10 | 7 | 8 | 19 | 16 | 20 | |
| Interest | 4 | 7 | 8 | 10 | 16 | 25 | 37 | 49 |
| Depreciation | 2 | 5 | 8 | 9 | 12 | 12 | 14 | 14 |
| Profit before tax | 19 | 20 | 15 | 36 | 66 | 87 | 60 | 66 |
| Tax % | 27% | 31% | 29% | 28% | 28% | 15% | 20% | |
| 14 | 14 | 11 | 26 | 48 | 74 | 48 | 50 | |
| EPS in Rs | 1.10 | 2.00 | 2.34 | 1.55 | 1.49 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 9% |
| TTM: | 65% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | 26% |
| TTM: | -25% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -38% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 20% |
| Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 38 | 51 | 61 | 76 | 126 | 366 | 411 | 414 |
| 83 | 142 | 159 | 175 | 262 | 365 | 453 | 610 | |
| 74 | 95 | 129 | 119 | 166 | 179 | 183 | 185 | |
| Total Liabilities | 201 | 293 | 355 | 392 | 575 | 941 | 1,076 | 1,239 |
| 49 | 78 | 79 | 83 | 85 | 85 | 94 | 109 | |
| CWIP | 0 | 2 | 4 | 0 | 0 | 0 | 9 | 33 |
| Investments | 8 | 4 | 12 | 21 | 21 | 31 | 37 | 40 |
| 144 | 209 | 260 | 289 | 469 | 825 | 937 | 1,057 | |
| Total Assets | 201 | 293 | 355 | 392 | 575 | 941 | 1,076 | 1,239 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -20 | -25 | 2 | 5 | -56 | -150 | -112 | |
| -23 | -28 | -14 | -11 | -3 | -48 | -35 | |
| 34 | 54 | 13 | 15 | 75 | 266 | 56 | |
| Net Cash Flow | -9 | 1 | 2 | 8 | 15 | 68 | -91 |
| Free Cash Flow | -39 | -61 | -8 | -1 | -64 | -165 | -137 |
| CFO/OP | -67% | -81% | 29% | 22% | -52% | -118% | -114% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 25 | 23 | 29 | 29 | 35 | 49 | 72 |
| Inventory Days | 95 | 89 | 106 | 95 | 89 | 136 | 266 |
| Days Payable | 63 | 63 | 71 | 56 | 51 | 44 | 67 |
| Cash Conversion Cycle | 57 | 49 | 64 | 68 | 73 | 141 | 272 |
| Working Capital Days | 4 | -9 | -12 | -1 | 10 | 45 | 99 |
| ROCE % | 15% | 9% | 18% | 24% | 19% | 12% |
Insights
In beta| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Fish Meal Export Volume MT |
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| Fish Oil Export Volume MT |
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| Aggregate Installed Capacity - Fish Meal MTPA |
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| BSF Larvae Harvested MT |
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| Fish Meal Sales Volume MT |
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| Fish Oil Sales Volume MT |
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| Manufacturing Capacity Utilization (India Facilities) % |
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| Inventory Holding Period Days |
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| Market Share in Indian Fish Meal & Fish Oil Industry (by Revenue) % |
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Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Updates on Acquisition
1d - Acquired 2,000 shares for Rs.19,64,000; Haris Marine Products became wholly-owned w.e.f. 30 Mar 2026.
-
Closure of Trading Window
26 Mar - Trading window closed from 1 Apr 2026 until 48 hours after Q4 FY2026 results for period ending 31 Mar 2026.
-
Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements
25 Mar - Acquisition of remaining 2% of Haris Marine for Rs19.64 lakh on 25-Mar-2026.
-
Intimation Of Name Change Of Subsidiary Entity.
17 Mar - 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.
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