Financial Performance Summary

Consolidated Financial Performance (Q1 FY27 vs Q4 FY26 vs Q1 FY26)

Revenue Performance:

  • Q1 FY27 Revenue: ₹4,896.54 Mn
  • vs Q4 FY26: ₹3,806.01 Mn (28.7% QoQ growth)
  • vs Q1 FY26: ₹1,707.74 Mn (186.73% YoY growth)

Profitability Metrics:

  • Gross Profit: ₹1,078.00 Mn (22.02% margin)
  • vs Q4 FY26: ₹802.26 Mn (21.08% margin)
  • vs Q1 FY26: ₹414.49 Mn (24.27% margin)
  • EBITDA: ₹486.23 Mn (9.93% margin)
  • vs Q4 FY26: ₹491.82 Mn (12.92% margin)
  • vs Q1 FY26: ₹166.62 Mn (9.76% margin)
  • PAT: ₹186.34 Mn (3.81% margin)
  • vs Q4 FY26: ₹213.59 Mn (5.61% margin)
  • vs Q1 FY26: ₹15.89 Mn (0.93% margin)

Standalone Financial Performance (Q1 FY27 vs Q4 FY26 vs Q1 FY26)

Revenue Performance:

  • Q1 FY27 Revenue: ₹4,058.56 Mn
  • vs Q4 FY26: ₹3,128.77 Mn (29.7% QoQ growth)
  • vs Q1 FY26: ₹1,357.92 Mn (198.9% YoY growth)

Profitability Metrics:

  • Gross Profit: ₹814.85 Mn (20.08% margin)
  • vs Q4 FY26: ₹642.02 Mn (20.52% margin)
  • vs Q1 FY26: ₹329.77 Mn (24.28% margin)
  • EBITDA: ₹441.36 Mn (10.87% margin)
  • vs Q4 FY26: ₹429.11 Mn (13.71% margin)
  • vs Q1 FY26: ₹135.03 Mn (9.94% margin)
  • PAT: ₹194.07 Mn (4.78% margin)
  • vs Q4 FY26: ₹189.09 Mn (6.04% margin)
  • vs Q1 FY26: ₹11.35 Mn (0.84% margin)

Performance Drivers

Growth was driven by strong domestic and export demand, improved realizations, and the Company's ability to capitalize on favourable market conditions amid global fish meal supply constraints. The Company benefited from operating leverage, efficient raw material sourcing, and disciplined cost management.

Strategic Initiatives and Investments

Acquisition Activity:

  • Acquired 51% stake in Delta Marine Products for ₹111 Mn, strengthening fish meal and fish oil manufacturing capabilities
  • Investment of ₹6.49 Mn for 25.98% stake in Swachha Eco Solutions Pvt. Ltd. (SESPL), making it an associate company
  • Strategic investments planned in Aqua Marine to enhance capacity and diversify revenue streams

Legal Resolution:

  • Successfully resolved long-standing customs litigation matter
  • Hon'ble CESTAT set aside entire demand of approximately ₹152.4 Mn, along with associated interest and penalties

Management Commentary

Mr. Kalandan Mohammed Haris, CEO & MD, highlighted:

  • Robust 186.7% YoY revenue growth driven by strong demand across domestic and export markets
  • EBITDA growth of 191.8% reflecting benefits of operating leverage and efficient raw material sourcing
  • Favourable market dynamics in global fish meal industry with healthy demand from aquaculture and animal nutrition sectors
  • Supply side constraints in key producing geographies creating opportunities
  • Focus on capacity expansion, operational excellence, product innovation, and market diversification
  • Strong balance sheet and growing global demand supporting sustained growth momentum

Company Background

Mukka Proteins Limited is one of India's prominent manufacturers and exporters of fishmeal, fish oil, and fish-soluble paste, holding 25-30% share of India's fishmeal and fish oil market. The Company operates with an installed capacity of 2,91,720 MT per year across fish meal, fish oil and fish soluble paste, with strategically located manufacturing and blending facilities. The Company serves marquee customers through long standing relationships and was ranked 311th in the FT1000 High Growth Companies Asia-Pacific 2025 edition.