{"id":3755,"date":"2024-03-05T04:51:27","date_gmt":"2024-03-05T04:51:27","guid":{"rendered":"https:\/\/wp-api.pocketful.in\/blog\/?p=3755"},"modified":"2025-04-14T10:04:30","modified_gmt":"2025-04-14T10:04:30","slug":"mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis","status":"publish","type":"post","link":"https:\/\/wp-api.pocketful.in\/blog\/mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis\/","title":{"rendered":"Mukka Protein IPO: Business Model, Key Details, Financial Statements, and SWOT Analysis"},"content":{"rendered":"\n<p>Embark on an exciting journey into the aqua-culture sector with the initial public offering (IPO) of Mukka Protein Limited, a leading player in the sustainable seafood industry.&nbsp;<\/p>\n\n\n\n<p>In today\u2019s blog, we\u2019ll cover the company&#8217;s business model, key details, financial statements, and SWOT analysis.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/wp-api.pocketful.in\/blog\/mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis\/#Company_Overview\" title=\"Company Overview\">Company Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/wp-api.pocketful.in\/blog\/mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis\/#Details_of_the_Issue\" title=\"Details of the Issue\">Details of the Issue<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/wp-api.pocketful.in\/blog\/mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis\/#Key_Financials_of_the_Company\" title=\"Key Financials of the Company\">Key Financials of the Company<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/wp-api.pocketful.in\/blog\/mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis\/#Strengths\" title=\"Strengths\">Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/wp-api.pocketful.in\/blog\/mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis\/#Risks\" title=\"Risks\">Risks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/wp-api.pocketful.in\/blog\/mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/wp-api.pocketful.in\/blog\/mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis\/#Frequently_Asked_Questions_FAQs\" title=\"Frequently Asked Questions (FAQs)\">Frequently Asked Questions (FAQs)<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-company-overview\"><span class=\"ez-toc-section\" id=\"Company_Overview\"><\/span>Company Overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Established in 2003 as a partnership firm by K. Abdul Razak, the company was renamed Mukka Protein Limited and became a private limited company in 2010.&nbsp;<\/p>\n\n\n\n<p>The company&#8217;s corporate headquarters is located in Mangalore, Karnataka, India.<\/p>\n\n\n\n<p>The company mainly focuses on producing fish meal, fish oil, and fish soluble paste, which are used to make aqua food for fish and shrimp, pet foods for dogs and cats, and poultry feed for broilers and layers.<\/p>\n\n\n\n<p>The company has established production facilities around India&#8217;s prominent coastlines, with ten global fishmeal factories \u2014 four in Karnataka, four in Gujarat, and two in Oman. Each of their units has a technician for quality control management and dedicated in-house laboratories.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/fishing-with-net-rafiki.png\" alt=\"fish meal\" class=\"wp-image-3757\" style=\"aspect-ratio:1.3333333333333333;object-fit:cover;width:383px;height:auto\" srcset=\"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/fishing-with-net-rafiki-1024x1024.png 1024w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/fishing-with-net-rafiki-300x300.png 300w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/fishing-with-net-rafiki-150x150.png 150w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/fishing-with-net-rafiki-768x768.png 768w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/fishing-with-net-rafiki-1536x1536.png 1536w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/fishing-with-net-rafiki.png 2000w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-awards-and-accreditations\">Awards and Accreditations<\/h3>\n\n\n\n<p>1.&nbsp; India\u2019s growth champion award by Economic Times.<\/p>\n\n\n\n<p>2.&nbsp; Star exporter awards, by Federation of Karnataka Chamber of Commerce and Industry.<\/p>\n\n\n\n<p>3.&nbsp; State export excellence award by the commissioner for industrial development and director of industries and commerce.<\/p>\n\n\n\n<p>4.&nbsp; Certificate of FT High\u2013Growth Companies Asia Pacific 2023 by financial times and statista.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-promoters\">Promoters<\/h3>\n\n\n\n<p>The company&#8217;s promoters are Kalandan Mohammed Arif, Kalandan Mohammed Haris, and Kalandan Mohammed Althaf; they own 100% of the shares.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-details-of-the-issue\"><span class=\"ez-toc-section\" id=\"Details_of_the_Issue\"><\/span>Details of the Issue<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The company wants to issue 8 crore new shares to raise a total of 224 crore. With a market lot of 535 shares, the IPO&#8217;s lower price band is set at 26 INR, while the higher price band is set at 28 INR per share.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-major-details\">Major details<\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><tbody><tr><td><strong>Face Value of Share<\/strong><\/td><td>1 INR<\/td><\/tr><tr><td><strong>Price Band<\/strong><\/td><td>26 \u2013 28 INR<\/td><\/tr><tr><td><strong>Market Lot<\/strong><\/td><td>535 Shares<\/td><\/tr><tr><td><strong>Total Fresh Issue Size<\/strong><\/td><td>224 Crore<\/td><\/tr><tr><td><strong>Total Number of Shares<\/strong><\/td><td>8 Crore<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-timeline-of-ipo\">Timeline of IPO<\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><tbody><tr><td><strong>IPO Open Date<\/strong><\/td><td>29<sup>th<\/sup> Feb 2024<\/td><\/tr><tr><td><strong>IPO Close Date<\/strong><\/td><td>4<sup>th<\/sup> March 2024<\/td><\/tr><tr><td><strong>Finalization of Allotment<\/strong><\/td><td>5<sup>th<\/sup> March 2024<\/td><\/tr><tr><td><strong>Initiation of Refund &amp; Credit of shares into demat account<\/strong><\/td><td>6<sup>th<\/sup> March 2024<\/td><\/tr><tr><td><strong>Listing Date on NSE &amp; BSE<\/strong><\/td><td>7<sup>th<\/sup> March<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ipo-allotment-size\">IPO Allotment Size<\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Applicant<\/th><th class=\"has-text-align-center\" data-align=\"center\">Market Lot<\/th><th class=\"has-text-align-center\" data-align=\"center\">Share<\/th><th class=\"has-text-align-center\" data-align=\"center\">Amount (INR)<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Retailer (Min)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">1<\/td><td class=\"has-text-align-center\" data-align=\"center\">535<\/td><td class=\"has-text-align-center\" data-align=\"center\">14980<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Retailer (Max)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">13<\/td><td class=\"has-text-align-center\" data-align=\"center\">6955<\/td><td class=\"has-text-align-center\" data-align=\"center\">194740<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Small High Net Worth Individual (Min)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">14<\/td><td class=\"has-text-align-center\" data-align=\"center\">7490<\/td><td class=\"has-text-align-center\" data-align=\"center\">209720<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Small High Net Worth Individual (Max)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">66<\/td><td class=\"has-text-align-center\" data-align=\"center\">35130<\/td><td class=\"has-text-align-center\" data-align=\"center\">988680<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Big High Net Worth Individual (Min)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">67<\/td><td class=\"has-text-align-center\" data-align=\"center\">35845<\/td><td class=\"has-text-align-center\" data-align=\"center\">1003660<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-objective-of-the-issue\">Objective of the Issue<\/h3>\n\n\n\n<p>The IPO proceeds will cover the working capital requirements of the company&#8217;s associate, Ento Protein Private Limited.<\/p>\n\n\n\n<p><strong>Read Also:<\/strong> <a href=\"https:\/\/www.pocketful.in\/blog\/ipo\/ixigo-ipo\/\">IXIGO IPO Case Study: Business Model, Key Details, and Financials<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-financials-of-the-company\"><span class=\"ez-toc-section\" id=\"Key_Financials_of_the_Company\"><\/span>Key Financials of the Company<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-balance-sheet\">Balance Sheet<\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Particulars<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2023<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2022<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2021<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Non-Current Asset<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">111.122<\/td><td class=\"has-text-align-center\" data-align=\"center\">105.911<\/td><td class=\"has-text-align-center\" data-align=\"center\">97.415<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Current Asset<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">464.042<\/td><td class=\"has-text-align-center\" data-align=\"center\">286.385<\/td><td class=\"has-text-align-center\" data-align=\"center\">256.513<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Total Asset<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">575.164<\/td><td class=\"has-text-align-center\" data-align=\"center\">392.296<\/td><td class=\"has-text-align-center\" data-align=\"center\">353.928<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Equity<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">155.845<\/td><td class=\"has-text-align-center\" data-align=\"center\">103.078<\/td><td class=\"has-text-align-center\" data-align=\"center\">69.058<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Long Term Liability<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">16.520<\/td><td class=\"has-text-align-center\" data-align=\"center\">12.806<\/td><td class=\"has-text-align-center\" data-align=\"center\">17.737<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Current Liability<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">402.800<\/td><td class=\"has-text-align-center\" data-align=\"center\">276.412<\/td><td class=\"has-text-align-center\" data-align=\"center\">267.134<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">(All the above-mentioned figures are in crores, unless stated otherwise)&nbsp;<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-income-statement\">Income Statement<\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Particulars<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2023<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2022<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2021<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Revenue from operations<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">1177.122<\/td><td class=\"has-text-align-center\" data-align=\"center\">770.503<\/td><td class=\"has-text-align-center\" data-align=\"center\">603.834<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Total Revenue<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">1183.804<\/td><td class=\"has-text-align-center\" data-align=\"center\">776.145<\/td><td class=\"has-text-align-center\" data-align=\"center\">609.952<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Total Expenses<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">1119.322<\/td><td class=\"has-text-align-center\" data-align=\"center\">741.177<\/td><td class=\"has-text-align-center\" data-align=\"center\">598.317<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Profit after tax<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">47.525<\/td><td class=\"has-text-align-center\" data-align=\"center\">25.819<\/td><td class=\"has-text-align-center\" data-align=\"center\">11.010<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">(All the above-mentioned figures are in crores, unless stated otherwise)&nbsp;<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cash-flow-statement\">Cash Flow Statement<\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Particulars<\/th><th>31<sup>st<\/sup> March 2023<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2022<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2021<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Net Cash flow from operating activities<\/strong><\/td><td>(54.395)<\/td><td class=\"has-text-align-center\" data-align=\"center\">4.808<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.949<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Cash flow from investing activities<\/strong><\/td><td>(5.258)<\/td><td class=\"has-text-align-center\" data-align=\"center\">(12.284)<\/td><td class=\"has-text-align-center\" data-align=\"center\">(13.611)<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Cash flow from financing activities<\/strong><\/td><td>74.664<\/td><td class=\"has-text-align-center\" data-align=\"center\">15.858<\/td><td class=\"has-text-align-center\" data-align=\"center\">9.324<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">(All the above-mentioned figures are in crores, unless stated otherwise)&nbsp;<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kpis\">KPIs<\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Particulars<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2023<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2022<\/th><th class=\"has-text-align-center\" data-align=\"center\">31<sup>st<\/sup> March 2021<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>EBITDA Margin<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">8.01%<\/td><td class=\"has-text-align-center\" data-align=\"center\">7.04%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.27%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Return on Equity<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">36.71%<\/td><td class=\"has-text-align-center\" data-align=\"center\">30%<\/td><td class=\"has-text-align-center\" data-align=\"center\">17.37%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Debt Equity Ratio<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">1.64<\/td><td class=\"has-text-align-center\" data-align=\"center\">1.68<\/td><td class=\"has-text-align-center\" data-align=\"center\">2.31<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Profit after Tax Margin<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">4.04%<\/td><td class=\"has-text-align-center\" data-align=\"center\">3.35%<\/td><td class=\"has-text-align-center\" data-align=\"center\">1.82%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Return on Capital Employed<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">17.62%<\/td><td class=\"has-text-align-center\" data-align=\"center\">13.86%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.86%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Based on the company&#8217;s EPS, the PE ratio on the lower price band will be approximately 13x, and on the upper price band, it will be 14x.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/02\/Swot-analysis-rafiki.png\" alt=\"SWOT Analysis\" class=\"wp-image-3625\" style=\"aspect-ratio:4\/3;object-fit:cover;width:460px;height:auto\" srcset=\"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/02\/Swot-analysis-rafiki-1024x1024.png 1024w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/02\/Swot-analysis-rafiki-300x300.png 300w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/02\/Swot-analysis-rafiki-150x150.png 150w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/02\/Swot-analysis-rafiki-768x768.png 768w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/02\/Swot-analysis-rafiki-1536x1536.png 1536w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/02\/Swot-analysis-rafiki.png 2000w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-strengths\"><span class=\"ez-toc-section\" id=\"Strengths\"><\/span>Strengths<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>1.\u00a0 The industry in which the company works has a high barrier to entry; no new businesses can easily establish themselves in this market.<\/p>\n\n\n\n<p>2.\u00a0 The company has a long history with many of its customers.<\/p>\n\n\n\n<p>3. \u00a0 The business is one of India&#8217;s top producers of fish protein products.<\/p>\n\n\n\n<p>4. \u00a0 The company&#8217;s management team has extensive business operations expertise.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-risks\"><span class=\"ez-toc-section\" id=\"Risks\"><\/span>Risks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>1.\u00a0 In FY23, the company&#8217;s cash flow from operations was negative. This might come across as a red flag to many investors.<\/p>\n\n\n\n<p>2.\u00a0 The company offers a non-diversified range of products. This exposes the company to the possibility of decreased profitability during unforeseen events.\u00a0<\/p>\n\n\n\n<p>3.\u00a0 Since the corporation sells goods to multiple nations, it may be exposed to the risk of volatility in exchange rates.<\/p>\n\n\n\n<p>4.\u00a0 Top 10 customers provide the company with 72% of the revenue. Thus, any changes in their contracts could significantly affect their profitability.<\/p>\n\n\n\n<p><strong>Read Also: <\/strong><a href=\"https:\/\/www.pocketful.in\/blog\/rashi-peripherals-limited-ipo-analysis\/\">Rashi Peripherals Limited: IPO Analysis<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>We have covered nearly every pertinent aspect regarding Mukka Protein in this IPO blog, including its background and corporate finances. The corporation may see an increase in its market share in the upcoming years due to its expansion ambitions.<\/p>\n\n\n\n<p>If you intend to invest in this firm, please ensure that you have carefully reviewed all of the company&#8217;s parameters and considered your risk profile.<\/p>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">S.NO.<\/th><th class=\"has-text-align-left\" data-align=\"left\">Check Out These Interesting Posts You Might Enjoy!<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">1<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/ipo-alert-vibhor-steel-tubes-limited\/\">IPO Alert: Vibhor Steel Tubes Limited<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">2<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/platinum-industries-ipo-business-model-key-details-kpis-and-swot-analysis\/\">Platinum Industries IPO: Business Model, Key Details, KPIs, and SWOT Analysis<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">3<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/ipo-alert-entero-healthcare-solutions-limited-ehsl\/\">IPO Alert: Entero Healthcare Solutions Limited (EHSL)<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">4<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/bharat-highways-invit-ipo-business-model-financials-key-details-and-swot-analysis\/\">Bharat Highways InvIT IPO: Business Model, Financials, Key Details, and SWOT Analysis<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">5<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/pune-e-stock-broking-limited-ipo-key-details-business-model-financials-strengths-and-weaknesses\/\">Pune E-Stock Broking Limited IPO: Key Details, Business Model, Financials, Strengths, and Weaknesses<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-frequently-asked-questions-faqs\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs\"><\/span>Frequently Asked Questions (FAQs)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"saswp-faq-block-section\"><ol style=\"list-style-type:none\"><li style=\"list-style-type: none\"><h3 class=\"\"><strong>When will the Mukka Proteins IPO be listed?<\/strong><\/h3><p class=\"saswp-faq-answer-text\">The listing date of the IPO is March 7, 2024.<\/p><li style=\"list-style-type: none\"><h3 class=\"\"><strong>Is Mukka Proteins a profitable company?<\/strong><\/h3><p class=\"saswp-faq-answer-text\">Mukka Protein Ltd. is a profitable business that has consistently reported profits.<\/p><li style=\"list-style-type: none\"><h3 class=\"\"><strong>Is revenue concentration a major risk for Mukka Protein?<\/strong><\/h3><p class=\"saswp-faq-answer-text\">Yes, 72% of the revenue is derived from the top 10 customers. This exposes the company to the possibility of incurring losses if these customers alter their contracts.\u00a0<\/p><li style=\"list-style-type: none\"><h3 class=\"\"><strong>How much did the revenue from operations grow for Mukka Proteins?<\/strong><\/h3><p class=\"saswp-faq-answer-text\">Mukka Protein\u2019s revenue from operations grew 95% in 2 years. This massive jump in top line figures indicates the company\u2019s strive for growth.\u00a0<\/p><\/ul><\/div>","protected":false},"excerpt":{"rendered":"<p>Embark on an exciting journey into the aqua-culture sector with the initial public offering (IPO) of Mukka Protein Limited, a leading player in the sustainable seafood industry.&nbsp; In today\u2019s blog, we\u2019ll cover the company&#8217;s business model, key details, financial statements, and SWOT analysis.&nbsp; Company Overview Established in 2003 as a partnership firm by K. Abdul [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3759,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"is_paper_insight":false,"paper_insight_image":0,"paper_insight_pdf":0,"paper_insight_ppt":0,"footnotes":""},"categories":[17,15],"tags":[],"class_list":["post-3755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-study","category-investing"],"acf":{"freelancer":"Akash Gupta"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.13 (Yoast SEO v21.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mukka Protein IPO: Business Model, Key Details, Financial Statements, and SWOT Analysis - Pocketful<\/title>\n<meta name=\"description\" content=\"Uncovering the strengths and weaknesses of Mukka Protein IPO, a market leader in manufacturing animal proteins.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mukka Protein IPO: Business Model, Key Details, Financial Statements, and SWOT Analysis\" \/>\n<meta property=\"og:description\" content=\"Uncovering the strengths and weaknesses of Mukka Protein IPO, a market leader in manufacturing animal proteins.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wp-api.pocketful.in\/blog\/mukka-protein-ipo-business-model-key-details-financial-statements-and-swot-analysis\/\" \/>\n<meta property=\"og:site_name\" content=\"Pocketful\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Pocketful.HQ\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-05T04:51:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-14T10:04:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wp-api.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/mukka-proteins-banner-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1497\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pranit Mathur\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Pocketful_HQ\" \/>\n<meta name=\"twitter:site\" content=\"@Pocketful_HQ\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Pranit Mathur\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Mukka Protein IPO: Business Model, Key Details, Financial Statements, and SWOT Analysis - 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