Financial Performance Overview
Mukka Proteins Limited reported exceptional financial results for FY 2025-26, achieving 44% revenue growth to ₹14,494.53 million and 18.7% profit increase to ₹570.86 million. The strong performance was primarily driven by export growth, which contributed 79.7% of total revenue. Consolidated EBITDA grew by 30.9% to ₹145.3 million, while total assets expanded by 50.6% to ₹16,211.27 million, though borrowings increased significantly by 70.5% to ₹7,677.71 million.
Strategic Developments and Expansion
The company executed several strategic initiatives including acceptance into the MarinTrust Improver Programme for responsible sourcing, securing a ₹474.89 crore contract from Bengaluru Solid Waste Management Limited for leachate treatment, and expanding into insect protein through acquisition of Ento Proteins Private Limited. International expansion included establishing manufacturing facilities in Oman (21,249 sq. meters) and incorporating Lanka Bio Proteins Private Limited in Sri Lanka. The company also listed a carbon credit project on Verra Registry (Project ID 5893).
Corporate Governance and AGM Details
The 16th Annual General Meeting is scheduled for September 10, 2026, via video conferencing, with 15 resolutions including re-appointment of directors (Mr. Kalandan Mohammed Haris as MD & CEO, Mr. Kalandan Mohammed Althaf as Whole-Time Director & CFO, and Mr. Kalandan Mohammad Arif as Whole-Time Director & COO), increase in borrowing limit to ₹1,000 crore, and approval of material related party transactions. Previous shareholder meetings showed near-unanimous approval with 99.99% votes in favor across all resolutions.
Capital Structure and Corporate Actions
The board approved preferential issue of up to 2 crore warrants at ₹23.50 per warrant, aggregating ₹47 crore. The company maintained an authorized share capital of ₹40 crore and issued capital of ₹30 crore. No dividend was recommended for FY26 to strengthen financial position. Auditors issued an unqualified opinion on consolidated financial statements while noting qualifications in subsidiary CARO reports regarding inventory physical verification and statutory dues.
Compliance and Regulatory Aspects
The company confirmed full compliance with SEBI LODR Regulations and Companies Act requirements. The secretarial audit report by M/s. Chethan Nayak & Associates contained no adverse remarks, and the corporate governance report confirmed adherence to regulatory standards. CSR expenditure of ₹1.22 crore exceeded the required ₹1.215 crore, demonstrating commitment to social responsibility.
Subsidiaries and Operational Structure
Mukka Proteins operates through 7 subsidiaries including Haris Marine Products, Ento Proteins, Atlantic Marine Products, Ocean Proteins, FABBCO Bio Cycle, Ocean Aquatic Proteins LLC (Oman), and United Gulf Fishery Products LLC, plus one joint venture (MPL HRC Jathin Ecosolutions LLP). The company holds certifications including GMP+, ISO 22000, ISO 9001:2015, HALAL, and China MARA license across its manufacturing facilities in Mangaluru, Ullal, Bangalore, and Oman.