Mukka Proteins share price skyrockets nearly 10% on ₹44 crore order

The stock rose as much as 9.56% to ₹36.2 apiece on the National Stock Exchange (NSE). At 11:43 am, it was trading at ₹34.87 per unit, reflecting an increase of 5.54%.

In an exchange filing, the company informed that it has received purchase orders worth ₹44.28 crore from Avanti Feeds Ltd, Mukka Proteins Vietnam Co Ltd, and Padma Feed & Chicks Ltd for the supply of fish meal and oil.

As on date, Mukka Proteins' total order book stands at ₹200 crore.

The order size from Avanti Feeds Ltd, a domestic entity, is ₹31.77 crore. The contracts from international firms Mukka Proteins Vietnam and Padma Feed are worth ₹8.7 crore and ₹1.91 crore, respectively.

The company's shares made their market debut on March 7, 2024. The stock debuted at ₹40 per share compared to the issue price of ₹28 per share, reflecting a premium of 42.85%.

The scrip is currently trading 12.82% lower than the listing price.

Mukka Proteins financials

Mukka Proteins reported a 41.36% decline in its consolidated revenue from operations to ₹303.15 crore in the third quarter of the current fiscal year, compared to ₹516.98 crore in the year-ago period.

Net profit surged 121.95% to ₹26.79 crore in the latest December quarter as against ₹12.7 crore in the corresponding period last fiscal.

Total expenses declined 45.5% to ₹276.5 crore in the latest October-December quarter as against ₹507.4 crore a year back.

During the quarter, the Board approved the issuance of a corporate guarantee of ₹5 crore to Ocean Proteins Pvt Ltd, an associate company, to secure its credit facilities. The Board also backed withdrawing the preferential issue of 1,96,00,000 equity shares.