Mukka Proteins Reports Decline in Sales and Profitability, Receives 'Sell' Rating from MarketsMOJO
Mukka Proteins, a smallcap company in the aquaculture industry, recently announced its financial results for the quarter ending September 2024. The stock call by MarketsMOJO for the company is 'Sell'.
According to the financials, Mukka Proteins has seen a very negative performance in the quarter, with a score of -32 compared to -17 in the previous quarter. This decline can be attributed to several factors.
One of the major concerns is the net sales, which have fallen by 53.3% to Rs 149.20 crore compared to the average net sales of the previous four quarters at Rs 319.52 crore. This indicates a very negative trend in the near term for the company's sales.
The profit before tax less other income (PBT) has also seen a significant decline of 112.2% to Rs -2.09 crore compared to the average PBT of the previous four quarters at Rs 17.08 crore. Similarly, the profit after tax (PAT) has fallen by 88.1% to Rs 2.08 crore compared to the average PAT of Rs 17.54 crore. This shows a very negative trend in the near term for the company's profitability.
The company's ability to manage interest payments has also deteriorated, with the operating profit to interest ratio at its lowest in the last five quarters. The interest cost has also increased, indicating a rise in borrowings.
Moreover, the net sales and operating profit (PBDIT) have also hit their lowest in the last five quarters, with a negative trend in the near term. The non-operating income is also high, at 299.05% of the PBT, which is not a sustainable business model.
Lastly, the earnings per share (EPS) have also declined to its lowest at Rs 0.07 in the last five quarters, indicating a decline in profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending September 2024 for Mukka Proteins have been very negative, with declining sales, profitability, and earnings. This has led to a 'Sell' call by MarketsMOJO for the company's stock.
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