Stock Performance Overview
On 6 Jan 2026, Mukka Proteins Ltd recorded a closing price of Rs.23.71, the lowest in its trading history. This price point represents a decline of 0.71% for the day, underperforming the Sensex which fell by 0.42%. Over the past week, the stock has decreased by 0.92%, while the Sensex gained 0.48%. The one-month performance shows a sharper drop of 8.93%, compared to the Sensex’s modest decline of 0.73%. Over three months, the stock has fallen 12.57%, whereas the Sensex rose 4.03%. The year-long performance is particularly stark, with Mukka Proteins Ltd down 37.88% against the Sensex’s 9.13% gain.
The stock has been on a downward trajectory for three consecutive days, losing 1.37% in that period. It is currently trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — indicating sustained bearish momentum.
Comparative Sector and Market Context
Within the FMCG sector, Mukka Proteins Ltd has underperformed notably, with a day’s sector underperformance of 1.46%. The stock’s year-to-date return of -1.50% also trails the Sensex’s -0.16%, highlighting its relative weakness in both short and long-term frames. Over three and five years, the stock has delivered no appreciable returns, standing at 0.00%, while the Sensex has surged 42.04% and 76.62% respectively. The ten-year performance remains flat as well, contrasting sharply with the Sensex’s 234.90% gain.
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Financial Metrics and Profitability
Mukka Proteins Ltd’s financial indicators reveal ongoing difficulties. The company’s average Return on Capital Employed (ROCE) stands at 9.16%, a figure that suggests limited profitability relative to the capital invested. This low ROCE is a key factor in the company’s current Mojo Grade of Sell, which was downgraded from Strong Sell on 14 Nov 2025. The Mojo Score is 37.0, reflecting subdued fundamentals.
Debt servicing capacity remains a concern, with a high Debt to EBITDA ratio of 5.26 times. This elevated leverage ratio indicates a stretched ability to meet interest and principal obligations from operating earnings. Correspondingly, interest expenses have reached a quarterly high of Rs.12.82 crores, further pressuring earnings.
Recent Earnings and Sales Trends
The company has reported negative results for seven consecutive quarters. The Profit Before Tax excluding other income (PBT LESS OI) for the latest quarter was Rs.3.28 crores, a sharp decline of 67.9% compared to the average of the previous four quarters. Net Profit After Tax (PAT) for the quarter was Rs.5.88 crores, down 45.9% relative to the prior four-quarter average.
Net sales have grown at an annual rate of 8.60% over the last five years, indicating modest top-line expansion. However, this growth rate has not translated into improved profitability or returns, as evidenced by the declining earnings and persistent losses.
Institutional Investor Activity
Institutional investors have reduced their holdings by 0.6% in the previous quarter, now collectively owning 3.36% of the company’s shares. This reduction in institutional participation may reflect a reassessment of the company’s fundamentals by investors with greater analytical resources.
Long-Term Growth and Valuation
Despite the challenges, Mukka Proteins Ltd has demonstrated healthy long-term growth in operating profit, which has increased at an annual rate of 50.86%. The company’s valuation metrics show an Enterprise Value to Capital Employed ratio of 1.3, suggesting a relatively attractive valuation compared to peers’ historical averages. This discount is notable given the company’s current financial performance.
However, the stock’s profits have declined by 34% over the past year, aligning with the negative share price returns of 37.64% during the same period.
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Summary of Performance Relative to Benchmarks
Over the last year, Mukka Proteins Ltd has underperformed the BSE500 index, as well as its sector peers, with returns of -37.64%. The stock’s three-month and one-year returns are significantly below market averages, underscoring its relative weakness. The lack of appreciation over three and five years further highlights the company’s subdued market presence compared to broader indices.
Market capitalisation grading remains low at 4, reflecting the company’s limited scale and market influence within the FMCG sector.
Conclusion
Mukka Proteins Ltd’s fall to an all-time low of Rs.23.71 is the culmination of sustained declines in share price, earnings, and investor confidence. The company’s financial metrics reveal constrained profitability, elevated leverage, and declining earnings, which have contributed to its current market valuation and rating. While the stock trades at a discount relative to peers, its recent performance and institutional investor behaviour indicate ongoing challenges in regaining momentum.
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