Board Meeting Details

The Board of Directors meeting was held on Saturday, November 7, 2026, commencing at 11:35 a.m. and concluding at 11:55 a.m.

Key Business Approved

1. Financial Results Approval

  • Approved unaudited financial results (standalone and consolidated) for quarter and half year ended September 30, 2026
  • Limited Review Report received from Statutory Auditors Shah & Taparia Chartered Accountants

2. Revised Investment Terms in Swaccha Eco Solutions Private Limited (SESPL)

  • Approved revision of investment terms in SESPL
  • Investment: Subscription to 85,200 equity shares at ₹250 per share
  • Total investment: ₹2,13,00,000 (₹2.13 crore)
  • Post-investment holding: 46% of paid-up capital
  • SESPL will become an associate of the Company
  • Detailed disclosure provided as per SEBI Circular No. SEBI/HO/CFD/CFDPoD1/P/CIR/2023/123 dated July 13, 2023

Consolidated Financial Results (Quarter Ended September 30, 2026)

Income Statement Highlights (₹ in millions)

  • Revenue from operations: ₹5,088.70 (Q2 FY26: ₹2,445.81)
  • Other income: ₹90.38 (Q2 FY26: ₹59.99)
  • Total income: ₹5,179.08 (Q2 FY26: ₹2,505.81)
  • Profit before tax: ₹273.75 (Q2 FY26: ₹92.78)
  • Profit after tax: ₹177.27 (Q2 FY26: ₹68.84)
  • Total comprehensive income: ₹181.68 (Q2 FY26: ₹61.91)
  • EPS (Basic): ₹0.53 (Q2 FY26: ₹0.20)
  • EPS (Diluted): ₹0.53 (Q2 FY26: ₹0.20)

Half Year Performance (₹ in millions)

  • Revenue from operations: ₹9,985.25 (H1 FY26: ₹4,153.55)
  • Profit after tax: ₹363.61 (H1 FY26: ₹84.73)
  • Total comprehensive income: ₹378.23 (H1 FY26: ₹77.27)
  • EPS (Basic): ₹1.16 (H1 FY26: ₹0.25)
  • EPS (Diluted): ₹1.16 (H1 FY26: ₹0.25)

Consolidated Balance Sheet (as of September 30, 2026)

  • Total assets: ₹18,602.51 million (March 31, 2026: ₹16,211.27 million)
  • Total equity: ₹5,281.81 million (March 31, 2026: ₹5,287.75 million)
  • Inventories: ₹9,683.89 million (March 31, 2026: ₹8,565.53 million)
  • Trade receivables: ₹3,061.13 million (March 31, 2026: ₹1,818.34 million)
  • Cash and cash equivalents: ₹235.32 million (March 31, 2026: ₹128.81 million)

Consolidated Entities

The consolidated results include:

  • Parent: Mukka Proteins Limited
  • Subsidiaries: Haris Marine Products, Atlantic Marine Products, Ocean Aquatic Proteins, Ento Proteins, Fabbco Bio Cycle and Bio Protein Technology, Ocean Proteins, United Gulf Fishery Products, Mukka Frozen Impex, MPL HRC Eco Solution LLP, Delta Marine Products
  • Joint Ventures: Ullal Fish Meal and Oil Company, GSM Marine Export, Progress Frozen and Fish Sterilization, Pacific Marine Products

Standalone Financial Results (Quarter Ended September 30, 2026)

Income Statement Highlights (₹ in millions)

  • Revenue from operations: ₹4,115.42 (Q2 FY26: ₹2,222.71)
  • Profit after tax: ₹106.99 (Q2 FY26: ₹36.10)
  • Total comprehensive income: ₹107.82 (Q2 FY26: ₹37.10)
  • EPS (Basic): ₹0.36 (Q2 FY26: ₹0.12)
  • EPS (Diluted): ₹0.36 (Q2 FY26: ₹0.12)

Half Year Performance (₹ in millions)

  • Revenue from operations: ₹8,173.99 (H1 FY26: ₹3,580.63)
  • Profit after tax: ₹301.06 (H1 FY26: ₹47.45)
  • Total comprehensive income: ₹307.18 (H1 FY26: ₹48.66)
  • EPS (Basic): ₹1.02 (H1 FY26: ₹0.16)
  • EPS (Diluted): ₹1.02 (H1 FY26: ₹0.16)

Fundraising Activity

  • During the quarter, the company allotted 2,00,00,000 convertible warrants on preferential basis
  • Issue price: ₹23.50 per warrant (including premium of ₹22.50)
  • Total issue size: ₹47,00,00,000
  • Received 25% of issue price: ₹11.75 crore
  • Balance 75% payable at time of conversion within 18 months from allotment date

Swaccha Eco Solutions Investment Details

Target Entity Information

  • Name: Swaccha Eco Solutions Private Limited (SESPL)
  • Business: Collection, treatment and disposal of all types of waste
  • Authorized capital: ₹10,00,000
  • Paid-up capital: ₹5,00,000
  • FY 2025-26 turnover: ₹1,77,61,136
  • FY 2025-26 PAT: ₹(75,05,051) loss
  • FY 2025-26 net worth: ₹(2,10,22,476)
  • Date of incorporation: September 12, 2017

Transaction Details

  • Not a related party transaction
  • Acquisition of 85,200 equity shares of face value ₹10 each
  • Price per share: ₹250
  • Total consideration: ₹2,13,00,000
  • Post-acquisition shareholding: 46%
  • Expected completion: March 31, 2027
  • Consideration: Cash
  • Purpose: Strategic investment to expand waste management segment

Historical Financials of SESPL

  • March 2024 turnover: ₹1,44,45,028
  • March 2025 turnover: ₹2,77,64,810
  • March 2026 turnover: ₹1,77,61,136

Geographical Revenue Breakdown

Consolidated Revenue by Geography (₹ in millions)

  • Within India: Q2 FY27 ₹817.70, H1 FY27 ₹1,425.06
  • Outside India: Q2 FY27 ₹4,135.12, H1 FY27 ₹8,275.80

Standalone Revenue by Geography (₹ in millions)

  • Within India: Q2 FY27 ₹422.09, H1 FY27 ₹822.60
  • Outside India: Q2 FY27 ₹3,573.25, H1 FY27 ₹7,099.79

Operational Segment

  • Single operating segment: Fish & Insects Protein
  • Board of directors is the Chief Operating Decision Maker (CODM)

Auditor's Review

  • Statutory auditors: Shah & Taparia Chartered Accountants (FRN: 109463W)
  • Partner: Bharat Joshi (M. No.: 130863)
  • Review conducted under SRE 2410
  • Did not review interim financial information of 10 subsidiaries and 5 joint ventures
  • Conclusion: No material misstatement found