Stock Performance Overview
The share price of Mukka Proteins Ltd has been on a downward trajectory, falling by 1.54% on the latest trading day, compared to the Sensex’s decline of 0.47%. This decline is part of a broader trend, with the stock losing 7.6% over the past seven consecutive trading days. Over the last week, the stock has dropped 6.34%, significantly underperforming the Sensex’s 2.64% fall. The one-month performance shows a sharper decline of 9.53%, while the three-month return stands at -16.13%, contrasting with the Sensex’s positive 0.83% gain over the same period.
Longer-term figures reveal a more pronounced underperformance. Over the past year, Mukka Proteins Ltd has delivered a negative return of 40.35%, while the Sensex has appreciated by 7.51%. Year-to-date, the stock is down 7.08%, compared to the Sensex’s 2.39% decline. Notably, the stock has not generated any returns over the last three, five, and ten years, whereas the Sensex has delivered 38.74%, 68.00%, and 237.03% returns respectively over these periods.
The stock currently trades below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating sustained bearish momentum.
Financial Metrics and Profitability
Mukka Proteins Ltd’s financial indicators highlight several areas of concern. 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 level of ROCE is considered low within the FMCG sector, where efficient capital utilisation is critical for sustainable growth.
Debt servicing capacity appears constrained, with a Debt to EBITDA ratio of 5.26 times. This elevated leverage ratio indicates a significant burden of debt relative to earnings before interest, taxes, depreciation, and amortisation, which may limit financial flexibility.
Net sales growth has been modest, averaging an annual rate of 8.60% over the past five years, reflecting subdued expansion in revenue generation.
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Recent Quarterly Results
The company has reported negative results for seven consecutive quarters, underscoring ongoing financial pressures. Profit Before Tax excluding Other Income (PBT LESS OI) for the latest quarter stood at Rs.3.28 crores, a sharp decline of 67.9% compared to the average of the previous four quarters. Similarly, Profit After Tax (PAT) for the quarter was Rs.5.88 crores, down 45.9% relative to the prior four-quarter average.
Interest expenses have reached a peak, with the latest quarterly figure at Rs.12.82 crores, reflecting the high cost of servicing debt obligations.
Institutional Investor Activity
Institutional investors have reduced their holdings by 0.6% over the previous quarter, now collectively holding 3.36% of the company’s shares. This decline in institutional participation may reflect a reassessment of the company’s fundamentals by investors with greater analytical resources.
Comparative Market Performance
Mukka Proteins Ltd’s underperformance extends beyond the short term. The stock has lagged the BSE500 index over the last three years, one year, and three months, indicating persistent challenges in delivering shareholder value relative to broader market benchmarks.
Valuation and Growth Considerations
Despite the challenges, the company’s operating profit has grown at an annual rate of 50.86% over the long term, suggesting some underlying operational improvements. The stock’s valuation metrics indicate a very attractive position, with an Enterprise Value to Capital Employed ratio of 1.2, which is below the average historical valuations of its peers in the FMCG sector.
However, this valuation discount accompanies a decline in profits of 34% over the past year, highlighting the complexity of the company’s current financial landscape.
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Mojo Score and Ratings
Mukka Proteins Ltd currently holds a Mojo Score of 31.0, with a Mojo Grade of Sell as of 14 Nov 2025. This represents an upgrade from a previous Strong Sell rating, indicating a slight improvement in the company’s overall assessment. The Market Capitalisation Grade is rated 4, reflecting the company’s size and market standing within the FMCG sector.
Summary of Key Financial Indicators
The company’s financial profile is characterised by a low ROCE of 9.16%, a high Debt to EBITDA ratio of 5.26 times, and a history of negative quarterly results. These factors contribute to the current valuation and market sentiment. While operating profit growth has been robust, the decline in net profits and elevated interest costs present ongoing headwinds.
Conclusion
The all-time low share price of Rs.22.25 for Mukka Proteins Ltd reflects a culmination of sustained declines in market performance, subdued profitability, and financial leverage concerns. The stock’s underperformance relative to major indices and peers underscores the challenges faced by the company in recent years.
Investors and market participants continue to monitor the company’s financial disclosures and market movements closely as it navigates this difficult phase within the FMCG sector.
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