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Why Mukka Proteins Sees Huge Profit in First Quarter This Year

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On March 31, 2024, Mukka Proteins revealed its audited financial statements for the quarter and year that ended. The following highlights some of the most important findings.

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* PAT increased by 56.35% to Rs 74.31 Crores from Rs 47.52 Crores in FY23 for the entire FY24.

* On a QoQ basis, the EBITDA margins increased by 177.47% to 14.38% in Q4, FY24 from 5.18% in Q3, FY24, indicating 920 bps improvement in the margins.

* PAT for Q4 FY24 increased by 141.53% to Rs 29.15 Crores from 12.07 Crores in Q3 FY24 (QoQ comparison) and increased by 32.99% in Q4, FY24 from Rs 21.92 Crores in Q4, FY23 (YoY comparison).

* From Rs 26.80 Crores in Q3, FY24 to Rs 36.92 Crores in Q4, FY24, EBIDTA increased by 37.77%.

* PAT% as a percentage of Revenue increased by 117.96% from Q4, FY23 to Q4, FY24, when it was 2.33% in Q3, FY24.

This improvement was made by 386.44%.

Mukka Proteins’ MD and CEO, Mohammed Haris, stated on this occasion, “We are really proud of the company’s great operational success in Q4, 2024. The management’s increased attention to increasing profitability in the future is evident from the improvement in the margins. The management of the company’s ambitions and the utilization of the money from the initial public offering (IPO) to meet working capital requirements have come together beautifully.

In FY25, the industry is expected to continue its strong growth momentum. Recent government initiatives, such as the Fisheries and Aquaculture Infrastructure Development Fund, Blue Revolution 2.0, and Pradhan Mantri Matsya Sampada Yojana (PMMSY), will further improve the industry’s prospects. Our goal is to outpace the expansion of the sector and make sure that investors and other stakeholders are completely satisfied with the company’s performance.”

* From Rs 26.80 Crores in Q3, FY24 to Rs 36.92 Crores in Q4, FY24, EBIDTA increased by 37.77%.

* PAT% as a percentage of Revenue increased by 117.96% from Q4, FY23 to Q4, FY24, when it was 2.33% in Q3, FY24. This improvement was made by 386.44%.

Mukka Proteins’ MD and CEO, Mohammed Haris, stated on this occasion, “We are really proud of the company’s great operational success in Q4, 2024. The management’s increased attention to increasing profitability in the future is evident from the improvement in the margins. The management of the company’s ambitions and the utilization of the money from the initial public offering (IPO) to meet working capital requirements have come together beautifully.

In FY25, the industry is expected to continue its strong growth momentum. Recent government initiatives, such as the Fisheries and Aquaculture Infrastructure Development Fund, Blue Revolution 2.0, and Pradhan Mantri Matsya Sampada Yojana (PMMSY), will further improve the industry’s prospects. Our goal is to outpace the expansion of the sector and make sure that investors and other stakeholders are completely satisfied with the company’s performance.”

As of now, the complete order book is valued at roughly Rs 153 crores.

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