Mukka Proteins shares rally 4.5% on purchase orders worth ₹50.39 crore
Upstox
2 min read • Updated: April 1, 2024, 3:07 PM
Summary
Mukka Proteins, which produces fish meal, fish oil and fish-soluble paste, received an order worth ₹45.53 crore from Best General Trading FZE, and another order worth ₹4.87 crore from Ever Light Oil Industrial. As of date, the total order book of Mukka Proteins stands at ₹153 crore.
Shares of Mukka Proteins Limited rose on Monday after it received purchase orders worth ₹50.39 crore from Ever Light Oil Industrial Co. Ltd and Uni Best General Trading FZE to supply fish oil, the company said in an exchange filing.
The stock gained 4.52% or ₹1.75 to trade at ₹38.15 on the National Stock Exchange (NSE) at 2:50 pm. Intraday, the company recorded a high of ₹39.15. The animal feed manufacturer had debuted on the NSE on March 7, 2023, at a premium of 42% at ₹40 against the IPO price of ₹28 per equity share.
The purchase order from Ever Light Oil Industrial is worth ₹4.87 crore, while that from Best General Trading FZE is worth ₹45.53 crore.
As of date, the total order book of Mukka Proteins stands at ₹153 crore.
Last month, the company had received a domestic purchase order worth ₹15.25 crore from Avanti Feeds Limited to supply fish oil.
Mukka Proteins is an animal protein company that produces fish meal, fish oil and fish-soluble paste. It also develops alternative proteins like black soldier fly insect meal.
The Mangaluru-based company sells its products to 11 countries, viz. Bahrain, Saudi Arabia, Chile, Malaysia, China, Bangladesh, Philippines, Myanmar, Indonesia, Taiwan and Vietnam.
In Q3 FY23, the company's profit shrank 55.79% to ₹10.47 crore as compared to ₹22.64 in the same period year-ago. However, the revenue from operations rose 28.11% year-on-year to ₹501.65 crore.