Micro-cap stock engaged in the business of manufacturing and supplying vegetable refined oils and byproducts hit a 5 percent upper circuit following bonus issue and Q3FY24 results with a 501 percent jump in net profit.
With a market capitalization of Rs. 621 Crores, the shares of M K Proteins Limited hit a 5 percent upper circuit in the day’s trade at Rs. 49.60.
Its revenue from operations grew by 404.83 percent QoQ from Rs. 13.64 Crores in Q2FY24 to Rs. 68.86 Crores in Q3FY24 and its Net Profit grew 501.84 percent QoQ from Rs. 0.41 Crore in Q2FY24 to Rs. 2.47 Crores in Q3FY24.
In addition to this, it has declared to issue bonus equity shares to the existing equity shareholders of the company in the ratio of 2:1, where 2 equity shares will be issued for every 1 equity share held in the company. There has also been an increase in the authorized capital of the company from Rs. 15 Crores to Rs. 40 Crores.
M K Proteins Limited is engaged in the business of manufacturing and supplying vegetable refined oils and byproducts, by refining rice bran, cotton seed, soya bean, and many more.
It has reported a return on equity (ROE) of 23.7 percent and a return on capital employed (ROCE) of 19.1 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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