.

The shares of the fish meal producer gained up to 7 percent after the company received two purchase orders for the supply of fish meal worth Rs 50.39 crore. 

With a market capitalization of Rs 1,153.50 crore, the shares of Mukka Proteins Ltd closed at Rs 38.45 per share, increasing around 5.43 percent as compared to the previous closing price of Rs 36.47 apiece. 

According to the company filing, Mukka Proteins Ltd received two purchase orders for fish meals from overseas clients totaling Rs 50.39 crore. First, the business received an order for Rs 4.87 crore from Ever Light Oil Industrial Co. Ltd., followed by another for Rs 45.53 crore from Uni Best General Trading FZE. 

Looking into Mukka Proteins Ltd, the company’s revenue increased by 30 percent, from Rs 397 crore in Q3FY23 to Rs 517 crore in Q3FY24. During the same period, net profit decreased by 55 percent, from Rs 27 crore to Rs 12 crore. 

The company has six production plants, four of which are based in India. The other two facilities are in Oman and run by a foreign subsidiary. Aside from this, the company has three blending plants and five storage facilities across India. To ensure effective logistics, all facilities are positioned near the shore. 

These facilities have an annual capacity to produce 1.15 lakh metric tons per year (MTPA) of fish meal, 16,950 MTPA of fish oil, and 20,340 MTPA of fish soluble paste. The Company has contractual arrangements with third-party production companies in Karnataka, Gujarat, and Maharashtra to supply fish meal and fish oil. 

The majority of the Company’s revenue comes from the selling of fish meal. Although its exposure to fish oil has decreased from 93%, it still accounts for 83% of total income. Fish oil has outperformed, with sales rising from Rs. 32.5 crore in FY22 to Rs. 165 crore in FY23. 

Mukka Protein, founded in 2003, is an animal protein firm that primarily produces fish meal, fish oil, and fish soluble paste, as well as developing alternative proteins such as Black Soldier Fly (BSF) insect meal in the animal feeding market. 

Written by:- Abhishek Singh 

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