Mukka Proteins Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
MUKKA · price
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Mukka Proteins reported strong full-year revenue growth of ~38% on standalone basis (₹11,850 million vs ₹8,604 million) and ~43% on consolidated basis (₹14,035 million vs ₹9,800 million), driven by fish protein exports with ~80% of revenue coming from outside India. PAT grew modestly by ~2% standalone to ₹424 million, with EPS at ₹1.43. The auditors issued an unmodified (clean) opinion. The company raised ₹75 crore via NCDs (₹25 crore + ₹50 crore) on private placement. Significant investments were approved: 51% stake in MPL FC HRC JV (₹2.55 lakh) and 49% stake in Sri Lanka entity Lanka Bio Proteins (up to ₹2.5 crore). Inventories surged nearly 49% YoY and borrowings grew substantially, resulting in negative operating cash flows of -₹1,610 million standalone.
Revenue momentum is strong but rising debt and negative operating cash flows raise concerns about liquidity and financial discipline despite the clean audit opinion. The NCD fundraising and international expansion plans signal management intent to scale up, but near-term debt servicing pressure warrants monitoring.