{"id":37757,"date":"2024-02-28T15:11:21","date_gmt":"2024-02-28T09:41:21","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=37757"},"modified":"2024-02-28T15:11:21","modified_gmt":"2024-02-28T09:41:21","slug":"mukka-proteins-ipo","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/mukka-proteins-ipo\/","title":{"rendered":"Mukka Proteins IPO"},"content":{"rendered":"\t\t
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Mukka Proteins IPO is a book-built issue of Rs 224.00 crores. The issue is entirely a fresh issue of 8 crore shares.<\/span><\/p>

The IPO opens for subscription on February 29, 2024, and closes on March 4, 2024. The IPO price band is set at \u20b926 to \u20b928 per share and the minimum lot size for an application is 535 Shares.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Summary<\/b><\/strong><\/span><\/p>

Incorporated in March 2003, Mukka Proteins Limited manufactures fish protein products. As a manufacturer of Fish Protein products, they manufacture and supply fish meal, fish oil, and fish soluble paste which is an essential ingredient in the manufacturing of aqua feed (for fish and shrimp), poultry feed (for broiler and layer), and pet food (dog and cat food).<\/span><\/p>

They sell their products domestically and also export them to over 10 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan and Vietnam.<\/span><\/p>

They have 6 \u00a0manufacturing facilities out of 4 \u00a0manufacturing facilities located in India and 2 manufacturing facilities, held through their Foreign Subsidiary, namely Ocean Aquatic Proteins LLC which is located in Oman.<\/span><\/p>

Further, their Company operates 3 \u00a0blending facilities and 5 storage facilities located in India. All their Facilities are strategically located within proximity to the coastline.<\/span><\/p>

As of September 30, 2023, they have also entered into a contractual arrangement with third-party manufacturing units, situated at Sasihithlu, Udupi, and Ullal which are all in Karnataka, Taloja in Maharashtra, Porbandar, and Mangrol in Gujarat for supply of fish meal and fish oil. These third-party manufacturing units are close to the source of their key raw material i.e., pelagic fish, thus increasing their presence across the western coastline of India<\/span><\/p>

As of March 31, 2023, the company employed 385 people from various departments, including technical and support staff, administration, management, and operations.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Strength<\/b><\/strong><\/span><\/p>

Consistently being awarded by MPEDA, during the last 7 (seven) years for their export performance including an outstanding performance in export of fish meal, fish oil, and allied products for Fiscal 2021, Fiscal 2020, and Fiscal 2019.<\/span><\/p>

For the fiscal year 2023, the revenue of the Company was \u20b910,663.98 million thus, being a 25%-30% contributor to the estimated revenue of the Indian fish meal and fish oil industry for the corresponding period<\/span><\/p>

The Company is also among the first few Indian companies to have commercialized insect meal and insect oil (collectively \u201cInsect Protein\u201d) as an ingredient for aqua feed, animal feed, and pet food.<\/span><\/p>

With, a cumulative over 5 (five) decades of successful track record of their Promoters in the Fish Protein industry, They believe that their Company is one of the pioneers of the industry.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Financials<\/b><\/strong><\/span><\/p>
Period Ended<\/b><\/strong><\/span><\/td>30 Sep 2023<\/b><\/strong><\/span><\/td>31 Mar 2023<\/b><\/strong><\/span><\/td>31 Mar 2022<\/b><\/strong><\/span><\/td>31 Mar 2021<\/b><\/strong><\/span><\/td><\/tr>
Assets<\/b><\/strong><\/span><\/td>641.18<\/span><\/td>575.16<\/span><\/td>392.30<\/span><\/td>353.93<\/span><\/td><\/tr>
Revenue<\/b><\/strong><\/span><\/td>612.88<\/span><\/td>1,183.80<\/span><\/td>776.15<\/span><\/td>609.95<\/span><\/td><\/tr>
Profit After Tax<\/b><\/strong><\/span><\/td>32.98<\/span><\/td>47.53<\/span><\/td>25.82<\/span><\/td>11.01<\/span><\/td><\/tr>
Net Worth<\/b><\/strong><\/span><\/td>159.11<\/span><\/td>128.92<\/span><\/td>87.25<\/span><\/td>64.54<\/span><\/td><\/tr>
Reserves and Surplus<\/b><\/strong><\/span><\/td>144.92<\/span><\/td>112.57<\/span><\/td>68.51<\/span><\/td>60.80<\/span><\/td><\/tr>
Total Borrowing<\/b><\/strong><\/span><\/td>317.73<\/span><\/td>254.83<\/span><\/td>173.50<\/span><\/td>159.19<\/span><\/td><\/tr>

Amount in \u20b9 Crore<\/span><\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Objectives of the issue<\/b><\/strong><\/span><\/p>

Our Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects<\/span><\/p>