Mukka Proteins reports strong financial results for Q4 and FY24
Mukka Proteins has announced its audited financial results for the quarter and year ended March 31, 2024, showcasing significant growth in profitability and operational performance.
Key Financial Highlights
1. Profit After Tax (PAT):
– Q4 FY24 PAT increased by 141.53% to Rs 29.15 Crores from Rs 12.07 Crores in Q3 FY24 (QoQ).
– Q4 FY24 PAT increased by 32.99% from Rs 21.92 Crores in Q4 FY23 (YoY).
– FY24 PAT increased by 56.35% to Rs 74.31 Crores from Rs 47.52 Crores in FY23.
2. EBITDA Margins:
– Q4 FY24 EBITDA margins increased by 177.47% to 14.38% from 5.18% in Q3 FY24.
– Q4 FY24 EBITDA improved by 37.77% to Rs 36.92 Crores from Rs 26.80 Crores in Q3 FY24.
3. PAT as a Percentage of Revenue:
– Q4 FY24 PAT as a percentage of revenue improved by 386.44% to 11.36% from 2.33% in Q3 FY24.
– Q4 FY24 PAT as a percentage of revenue improved by 117.96% compared to Q4 FY23.
Mukka Proteins reports strong financial results for Q4 and FY24, with significant growth in PAT and EBITDA margins.
CEO’s Statement
On the announcement of the financial results, Mr. Mohammed Haris, Managing Director and CEO of Mukka Proteins, stated, “We are extremely proud of the strong operational performance of the company in Q4, 2024. The improvement in the margins clearly indicates that the management is focused on improving profitability going forward as well. The use of IPO proceeds in the working capital requirements has aligned extremely well with the plans visualized by the management of the company. The sector promises to witness strong growth momentum in FY25, and recent government support through various schemes like Pradhan Mantri Matsya Sampada Yojana (PMMSY), Fisheries and Aquaculture Infrastructure Development Fund, and Blue Revolution 2.0 will further boost the prospects of the industry. Our aim is to surpass industry growth and ensure that all our stakeholders, including investors, are extremely happy with the company’s performance.”
Order Book and Future Outlook
The total order book stands at approximately Rs. 153 Crores to date. Mukka Proteins anticipates continued growth momentum in FY25, supported by government initiatives and strong market demand.
About Mukka Proteins
Mukka Proteins is a leading player in the fish protein industry in India, consistently awarded by the Marine Products Export Development Authority (MPEDA) for its export performance. The company distributes its products domestically and exports to over 20 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam. Mukka Proteins’ fish oil is utilized in pharmaceuticals, soap production, leather processing, and paint manufacturing. The company is also among the first in India to commercialize insect meal and insect oil as ingredients for aqua feed, animal feed, and pet food.
### Expert Opinion
Mukka Proteins’ robust financial performance in Q4 and FY24 underscores the company’s strategic focus on operational efficiency and market expansion. The significant improvements in PAT and EBITDA margins reflect effective management and strategic use of IPO proceeds. With the government’s support and a strong order book, Mukka Proteins is well-positioned for continued growth and industry leadership.