Mukka Proteins Faces Technical Shift Amid Declining Sales and Debt Concerns

Mukka Proteins, a microcap player in the FMCG sector, has recently undergone an evaluation adjustment that reflects a shift in its technical outlook. The stock's technical trend has transitioned from a mildly bearish stance to a more pronounced bearish position. This change is underscored by various technical indicators, including the MACD and KST, which are currently signaling bearish conditions.
In terms of financial metrics, Mukka Proteins has reported a decline in net sales for the first nine months, with a notable decrease of 24.57%. The company's ability to service its debt is also a concern, as indicated by a high Debt to EBITDA ratio of 2.87 times. Additionally, the company has faced negative results for five consecutive quarters, with a recent PAT decline of 9.0% compared to the previous quarter's average.

Despite these challenges, the company has demonstrated some long-term growth potential, with operating profit increasing at an annual rate of 50.86%. However, the stock has underperformed the broader market, generating negative returns of -9.98% over the past year, while the BSE 500 index has seen positive returns.

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