Is Mukka Proteins a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Mukka Proteins Ltd is a average quality company .

Is Mukka Proteins undervalued or overvalued?

The key valuation ratios of Mukka Proteins Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Mukka Proteins share price return in the past 10 years?

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Is Mukka Proteins a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Mukka Proteins Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Mukka Proteins Ltd - Stock Valuation and Financial Performance

Name: Mukka Proteins
Brand: Mukka Proteins

BSE: 544135 | NSE: MUKKA | Consumer Food | Small Cap

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Mukka Proteins Share Price

₹40.67 0.05 0.12%
as on 22-Nov'24 16:59

10 Year X-Ray of Mukka Proteins:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	19.7%	17.2%	7.3%	16.9%	23.5%	18.3%	-
Value Creation Index ⓘ	0.4	0.2	-0.5	0.2	0.7	0.3	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	407	546	536	693	1,066	1,269	957
Sales YoY Gr.	-	34%	-1.7%	29.2%	53.9%	19%	-
Adj EPS ⓘ	0.7	0.5	0	0.8	1.9	1.8	1.1
YoY Gr.	-	-31.9%	-95.7%	3850%	134.2%	-2.7%	-
BVPS (₹) ⓘ	2.1	2.6	2.9	3.7	5.5	12.2	12.2
Adj Net Profit ⓘ	15.1	10.3	0.4	17.5	40.8	53.9	34
Cash Flow from Ops. ⓘ	-21.6	-24.1	-2.3	-15.3	-47	-144	-
Debt/CF from Ops. ⓘ	-3.8	-4.7	-54.1	-10.5	-5	-2.3	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	NA	25.5%	33.2%	19%
Adj EPS ⓘ	NA	21.1%	348.1%	-2.7%
BVPSⓘ	NA	42.7%	62.1%	120.1%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	33.4	20	0.6	24.1	40	22.1	9.3
Op. Profit Mgn % ⓘ	6.1	3.7	1.3	4.7	6.7	6.4	5.2
Net Profit Mgn % ⓘ	3.7	1.9	0.1	2.5	3.8	4.3	3.5
Debt to Equity ⓘ	1.8	1.9	2	2	1.9	0.9	0
Working Cap Days ⓘ	0	116	146	125	108	146	202
Cash Conv. Cycle ⓘ	0	40	58	54	52	88	77

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 33.24%

Net Profit is growing at healthy rate in last 3 years 348.14%

Debt to equity has declined versus last 3 years average to 0.90

Return on Equity has declined versus last 3 years average to 9.30%

Sales growth is not so good in last 4 quarters at -25.73%

Latest Financials - Mukka Proteins Ltd.

	Standalone	Consolidated
TTM EPS (₹)	1.1	1.5
TTM Sales (₹ Cr.)	957	1,063
BVPS (₹.) ⓘ	12.2	13.3
Reserves (₹ Cr.) ⓘ	336	369
P/BV ⓘ	3.37	3.09
PE ⓘ	36.55	28.07

From the Market
52 Week Low / High (₹)	30.00 / 56.52
All Time Low / High (₹)	30.00 / 56.52
Market Cap (₹ Cr.)	1,234
Equity (₹ Cr.)	30
Face Value (₹)	1
Industry PE ⓘ	64.9

Management X-Ray of Mukka Proteins:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Mukka Proteins

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Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Mukka Proteins

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	407	546	536	693	1,066	1,269
Operating Expenses ⓘ	383	526	529	660	1,001	1,187
Manufacturing Costs	9	8	6	23	35	33
Material Costs	348	482	481	583	876	1,064
Employee Cost	5	7	10	13	17	21
Other Costs ⓘ	21	29	32	41	73	69
Operating Profit ⓘ	25	20	7	33	66	81
Operating Profit Margin (%)	6.1%	3.7%	1.3%	4.7%	6.2%	6.4%
Other Income ⓘ	3	8	9	8	9	20
Interest ⓘ	4	7	7	8	15	24
Depreciation ⓘ	2	3	3	4	4	6
Exceptional Items ⓘ	-1	0	0	0	0	0
Profit Before Tax ⓘ	21	19	6	28	55	72
Tax ⓘ	5	6	1	8	16	9
Profit After Tax	15	13	5	20	39	63
PAT Margin (%)	3.8%	2.4%	0.9%	2.9%	3.7%	4.9%
Adjusted EPS (₹)	0.7	0.6	0.2	0.9	1.8	2.1
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	45	58	63	82	122	365
Share Capital ⓘ	6	6	6	22	22	30
Reserves ⓘ	40	52	57	60	100	335
Minority Interest	0	0	0	0	0	0
Debt	81	109	122	157	233	326
Long Term Debt	14	10	7	3	0	3
Short Term Debt	66	99	115	154	232	322
Trade Payables	56	77	78	70	118	126
Others Liabilities ⓘ	14	14	26	20	28	35
Total Liabilities ⓘ	197	257	288	329	500	851
Fixed Assets
Gross Block	51	56	63	67	73	85
Accumulated Depreciation	9	12	15	19	22	27
Net Fixed Assetsⓘ	42	44	48	48	51	58
CWIP ⓘ	0	1	0	0	0	0
Investmentsⓘ	11	8	12	21	24	34
Inventories	89	90	142	141	208	393
Trade Receivables	25	54	26	53	108	143
Cash Equivalents	1	1	2	8	23	124
Others Assetsⓘ	29	58	59	58	86	98
Total Assets ⓘ	197	257	288	329	500	851

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	-22	-24	-2	-15	-47	-144
PBT ⓘ	21	19	6	28	55	72
Adjustment ⓘ	5	3	4	5	8	12
Changes in Working Capital ⓘ	-42	-41	-8	-46	-101	-205
Tax Paid ⓘ	-5	-6	-4	-2	-9	-23
Cash Flow From Investing Activity ⓘ	-19	2	-5	-7	1	-43
Capex	-13	-6	-5	-2	-3	-12
Net Investments	-8	3	-6	-10	-3	-41
Others ⓘ	2	4	5	5	7	10
Cash Flow From Financing Activityⓘ	31	23	8	27	61	258
Net Proceeds from Shares ⓘ	0	0	0	0	0	181
Net Proceeds from Borrowing ⓘ	9	-5	-3	-4	-3	3
Interest Paid ⓘ	-4	-5	-6	-7	-10	-16
Dividend Paid ⓘ	0	0	0	0	0	0
Others ⓘ	27	32	17	38	74	90
Net Cash Flow ⓘ	-10	0	0	5	15	71

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	34.02	24.97	7.66	27.31	38.66	25.78
ROCE (%)	19.71	17.19	7.26	16.92	23.54	18.3
Asset Turnover Ratio	2.07	2.4	1.97	2.24	2.66	1.92
PAT to CFO Conversion(x)	-1.47	-1.85	-0.4	-0.75	-1.21	-2.29
Working Capital Days
Receivable Days	22	27	28	21	27	35
Inventory Days	80	60	79	74	58	85
Payable Days	59	50	59	46	39	42

Mukka Proteins Ltd Stock News

Mukka Proteins Ltd FAQs

What is the share price of Mukka Proteins?

Company share prices are keep on changing according to the market conditions. The closing price of Mukka Proteins on 22-Nov-2024 16:59 is ₹40.67.

What is the market cap of Mukka Proteins?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 22-Nov-2024 16:59 the market cap of Mukka Proteins stood at ₹1,233.6.

What is the P/E ratio of Mukka Proteins?

The latest P/E ratio of Mukka Proteins as of 22-Nov-2024 16:59 is 36.55.

What is the P/B ratio of Mukka Proteins?

The latest P/B ratio of Mukka Proteins as of 22-Nov-2024 16:59 is 3.37.

What is the 52-week high and low of Mukka Proteins?

The 52-week high of Mukka Proteins is ₹56.52 and the 52-week low is ₹30.00.

What is the TTM revenue of Mukka Proteins?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mukka Proteins is ₹956.6 ( Cr.) .

About Mukka Proteins Ltd

Mukka Proteins Limited was originally formed as a partnership firm constituted under the Indian Partnership Act, 1932 on March 21, 2003 under the name ‘Mukka Sea Foods Industries’ pursuant to a deed of partnership dated March 13, 2003 and was re-constituted on July 14,2004 and June 18, 2010. ‘Mukka Sea Foods Industries’ was thereafter converted from a partnership firm to a private limited company under Part IX of the Companies Act, 1956, as ‘Mukka Sea Food Industries Private Limited’ and a certificate of incorporation was issued by the Registrar of Companies, Karnataka on November 04, 2010. Subsequently, the Company was converted to a public limited company, pursuant to a special resolution passed by the shareholders of the company at the extraordinary general meeting held on November 09, 2019 and the name of the company was changed to ‘Mukka Sea Food Industries Limited’ and a fresh certificate of incorporation consequent upon conversion to a public limited company dated December 02, 2019 was issued to the company by the Registrar of Companies, Bangalore. Thereafter, the name of the company was changed to ‘Mukka Proteins Limited’ pursuant to a special resolution passed by the shareholders of the company at the extraordinary general meeting held on July 23, 2021 and a fresh certificate of incorporation dated August 06, 2021 was issued by the Registrar of Companies, Bangalore.

The company manufactures and supplies fish meal, fish oil and fish soluble paste which is an essential ingredient in the 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 its application in pharmaceutical products (additionally, Omega-3 pills and related products derived from fish oil are gaining importance as high nutrient and healthy dietary supplements), soap manufacturing, leather tanneries & paint industries. It sells its products domestically and also exports them to over 10 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan and Vietnam.

With, many decades of successful track record of its Promoters in the Fish Protein industry, the company is one of the pioneers of the industry. It is also amongst the first few companies to have introduced the steam dried process in India for manufacturing of fish meal. Its Promoter Directors, namely Kalandan Mohammed Haris, Kalandan Mohammad Arif and Kalandan Mohammed Althaf are actively involved in the business and amongst themselves have, in-depth knowledge and vast experience in the marine sector, Fish Protein, aqua feed and alternative protein industry. Its Promoter Directors share various functional responsibilities amongst themselves for effective management and are well supported by qualified and experienced professionals.

Business area of the company

The company is engaged in the business of manufacturing of Fish Protein (i.e. fish meal, fish oil and fish soluble paste) and Insect Protein (i.e. insect meal and insect oil), which is an essential ingredient in the manufacturing of aqua feed (for fish and shrimp), poultry feed (for broiler and layer) and pet food (dog and cat food).

Products of the company

Fish meal
Fish oil
Fish soluble paste

Awards and accreditations

2011: ‘Niryat Shree’ Award for outstanding Export Performance in the Category of ‘Residual Sector not covered anywhere - MSME’ during the year 2010-11 Trophy awarded by Federation of Indian Exports Organization.
2011: Best District Exporter Award 2011 awarded by the Federation of Karnataka Chambers of Commerce and Industry.
2011: Producer Member of IFFO (The Marine Ingredients Organisation).
2011: District Exporter Award 2011, Dakshina Kannada-Special Recognition awarded by the Federation of Karnataka Chambers of Commerce and Industry.
2012: Export Award for Outstanding Performance for the year 2011-12 in the exports of dried marine products awarded by The Marine Products Export Development authority, Ministry of Commerce and Industry, Government of India.
2013: District Exporter Award 2013, Dakshina Kannada-Special Recognition awarded by the Federation of Karnataka Chambers of Commerce and Industry.
2014: State Export Excellence Award 2012-13 for Marine Products (Medium/Large Enterprise - Gold) awarded by the Government of Karnataka.
2014: State Export Excellence Award 2011-12 for Marine Products (Medium/Large Enterprise - Gold) awarded by Government of Karnataka.
2014: Best Manufacturer Exporter Award 2014 (Medium Category - Gold), awarded by the Federation of Karnataka Chambers of Commerce and Industry.
2015: State Export Excellence Award 2013-14 for Marine Products (Medium/Large Enterprise) awarded by the Government of Karnataka.
2015: State Export Excellence Award in District Category for the year 2014-15, awarded, Government of Karnataka.
2015: Distinguished Award of Felicitation for immense contribution to the society in the coastal districts of Karnataka State in Educational Scholarship Meet & Free Wheel Chair Distribution - 2015 awarded by Bearys Cultural Forum, United Arab Emirates.
2015: Export Award 2014-15 for Second Outstanding Performance in overall exports-quantity, awarded by The Marine Products Export Development Authority, Ministry of Commerce & Industry.
2015: SKOCH Order of Merit for qualifying in India’s best SMEs awarded by SKOCH Group.
2016: Export Award 2015-16 for Outstanding Performance in Dried Marine Products awarded by The Marine Products Export Development authority, Ministry of Commerce and Industry.
2016: SKOCH Award by SKOCH Group
2016: SKOCH Order-of-Merit for qualifying in India’s best SME’s - 2016 awarded by SKOCH Group
2016: Indian Achievers Award for Industry Development awarded by Indian Achievers Forum.
2017: Sponsor in Aqua Aquaria India 2017 awarded by The Marine Products Export Development Authority, Ministry of Commerce & Industry, Govt. of India.
2017: Export Award 2016-17 for Outstanding Performance in Dried Marine Products Exports awarded by The Marine Products Export Development authority, Ministry of Commerce and Industry.
2017: Export Award 2016-17 for Second Outstanding Performance in overall exports-quantity awarded by The Marine Products Export Development authority, Ministry of Commerce and Industry.
2017: District Exporter Award for Dakshina Kannada Mangalore awarded by the Federation of Karnataka Chambers of Commerce & Industry.
2018: Export Award 2017-18 for Outstanding Performance in overall exports-quantity awarded by The Marine Products Export Development authority, Ministry of Commerce and Industry.
2018: Export Award 2017-18 for Second Outstanding Performance in Dried Marine Products awarded by The Marine Products Export Development authority, Ministry of Commerce and Industry.
2018: Export Excellence Award 2016-17 under the category of Top Multi Product Exporter in Karnataka awarded by FIEO.
2018: Special Recognition Awards 2018 in Manufacturing (Medium Category) awarded by the Federation of Karnataka Chambers of Commerce & Industry.
2018: Industrial Excellence Awards & Conference 2018 for Best Company of the Year India, 2018 for Animal Feed Industry awarded by Industrial Excellence Awards & Conference.
2018: Certificate for FT 1000 High-Growth Companies Asia-Pacific 2018 awarded by The Financial Times and Statista.
2018: FKCCI Business Excellence Awards 2018.
2019: State Export Excellence Award for the year 2016-17 in Platinum Category awarded by Visvesvaraya Trade Promotion Centre (VTPC), Government of Karnataka Organization.
2019: State Export Excellence Award 2015-16 Platinum Award awarded by the Government of Karnataka
2019: Best Manufacturer Exporter Award 2019 – Gold (Medium Category) awarded by the Federation of Karnataka Chambers of Commerce & Industry.
2019: Export Award 2018-19 for Second Outstanding Performance in overall exports-quantity awarded by The Marine Products Export Development authority, Ministry of Commerce and Industry.
2020: Semi Finalist SKOCH of SKOCH Award 2020 awarded by SKOCH Group.
2020: Time2Leap Awards - MSME Edition 2020 for outstanding accomplishment in Best Sea Food Exporter of the year.
2020: Awarded as Three Star Export House by Directorate General of Foreign Trade, Ministry of Commerce & Industry, Government of India.
2020: Certificate for FT High-Growth Companies Asia-Pacific 2020 awarded by The Financial Times and Statista.
2021: SKOCH Award Achiever Silver awarded by SKOCH Group
2021: Semi Finalist SKOCH of SKOCH Award 2021 awarded by SKOCH Group
2021: Certificate for India's Growth Champions 2021 awarded by The Economic Times and Statista.
2021: High-Growth Companies Asia-Pacific 2021 awarded by Nikkei Asia, The Financial Times and Statista.
2021: Apex India MSME Award 2021 for outstanding export performance -Gold Award.
2021: Certificate for FT High-Growth Companies Asia-Pacific 2021 awarded by The Financial Times and Statista.
2022: Rural and Urban Development Summit & Awards 2022-Exporter of the year manufacturing.
2022: Rural and Urban Development Summit & Awards 2022-Exporter of the year manufacturing - Agro.
2022: ‘Top 10 Sea Food Companies from Asia 2022’.
2022: MPEDA Award 2019-20 - Award for the second highest export outstanding performance in overall Exports Category - 1 (B) Quantity wise.
2022: MPEDA Export Award 2019-20 - Award for the highest export outstanding performance in the export of Dried Marine Products: Fish meal, Fish oil & Allied Products Category - II.E.
2022: MPEDA Award Export 2020-21 - Award for the highest export outstanding performance in overall Exports Category - 1 (B).
2022: MPEDA Award 2020-21 - Award for the highest export performance in the export of Dried.
2022: Marine Products: Fish meal, Fish oil & Allied Products Category - II.E.
2022: National Logistics Excellence Award 2021 - In recognition of Excellence and Innovation in Logistics Second runner up.
2023: State Export Excellence Award – Award Category – Marine Products Exporter for the years 2017-18, 2018-19 and 2019-20 awarded by the Commissioner for Industrial Development and Director of Industries and Commerce.
2023: India’s Growth Champions 2023 Award - awarded by The Economic Times and Statista Certificate for FT High-Growth Companies Asia-Pacific 2023 awarded by The Financial Times and Statista.
2023: Star Exporter Award-Manufacturer Category-Silver awarded by Federation of Karnataka, Chambers of Commerce and Industry.

History and milestones

2003: Constituted as a Partnership Firm under the name of Mukka Sea Foods Industries.
2006: Granted Certificate of Registration of Processing Plant, Certificate of Registration as a Manufacturer and Exporter, Certificate of Registration of Storage Premises from MPEDA.
2010: Conversion of partnership firm of Mukka Sea Foods Industries into a Private Limited.
2010: Company under the name of Mukka Sea Food Industries Private Limited.
2011: Awarded ISO 9001:2015 Quality Management System.
2013: Obtained a registered license from the People’s Republic of China to explore China Market.
2014: Awarded HACCP (Hazard Analysis and Critical Control Points)
2015: GMP+ B2 Production of feed ingredients Certification by SGS Product & Process certification.
2016: Awarded ISO 22000:2005 Food Safety Management System.
2016: Commenced International Export operations in the Middle East.
2018: Awarded HALAL certification.
2018: Significant capital contribution in Atlantic Marine Products, a partnership firm, which eventually converted into private limited company and became its Subsidiary in 2019.
2018: Acquisition of shares in Ocean Aquatic Proteins LLC and thereby making it a Subsidiary.
2018: Setting up of Atlantic Manufacturing Facility II at Jafrabad, Gujarat.
2019: Conversion of the Company from Private Limited Company i.e., Mukka Sea Food Industries Private Limited to a Public Limited Company i.e. Mukka Sea Food Industries Limited.
2019: Significant capital contribution in Haris Marine Products, a partnership firm, which eventually converted into private limited company and became its Subsidiary in 2019.
2019: Membership at Visvesvaraya Trade Promotion Centre (VTPC), Government of Karnataka.
2020: Use of Blending Facility II and Blending Facility III with dedicated Quality and Assurance Lab established at Jafrabad and Porbandar, respectively.
2020: Crossed Rs 5,000 million turnover.
2021: Change of name of Company from Mukka Sea Food Industries Limited to Mukka Proteins Limited.
2021: Entered into shareholder agreement between Ento Proteins Private Limited, Holocene Ecosolutions Private Limited and Mukka Proteins Limited with respect to Ento Proteins Private Limited.