Mukka Proteins Board Approves Q2 FY26 Results & Strategic Acquisition of United Gulf Fishery Products LLC
Mukka Proteins' board approved robust Q2 FY26 results with significant revenue and profit growth. It also greenlit acquiring 68% of United Gulf Fishery Products LLC for ₹1 crore, expanding its Middle East presence.
The announcement includes strong quarterly financial results demonstrating significant growth, which directly impacts investor perception and stock performance. Furthermore, the strategic acquisition represents a key business expansion into the Middle East, indicating future growth potential and a material change in the company's operational scope.
The company reported significant growth in both standalone and consolidated revenue and profit for Q2 FY26. Additionally, the strategic acquisition of United Gulf Fishery Products LLC signals expansion into new markets and potential for future synergies, contributing positively to the company's outlook.
Mukka Proteins Limited's Board of Directors met on November 12, 2025, to approve the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025. * Standalone Financial Highlights (Q2 FY26 vs Q2 FY25): * Revenue from operations: ₹216.04 crore (₹2,160.44 million) compared to ₹121.74 crore (₹1,217.41 million). * Profit after tax: ₹3.61 crore (₹36.10 million) compared to ₹2.17 crore (₹21.74 million). * Basic Earnings per Share (EPS): ₹0.12 compared to ₹0.07. * Consolidated Financial Highlights (Q2 FY26 vs Q2 FY25): * Revenue from operations: ₹236.08 crore (₹2,360.81 million) compared to ₹144.85 crore (₹1,448.48 million). * Profit for the period attributable to shareholders: ₹5.88 crore (₹58.77 million) compared to ₹2.08 crore (₹20.80 million). * Basic EPS: ₹0.20 compared to ₹0.07. * Strategic Investment: The Board approved an investment in United Gulf Fishery Products LLC, an overseas entity, by acquiring 68% of its capital for approximately ₹1 crore (₹10 million). This acquisition aims to expand the Company's business in the Middle East, leveraging the acquired entity's local presence and expertise, with a potential future merger for operational efficiencies. The indicative time for completion of this acquisition is March 31, 2026. * GST Show Cause Notices (SCNs): * The Company received an SCN from the Assistant Commissioner of State Tax, Porbandar, for alleged GST discrepancies in FY2021-22. The initial demand of ₹141.06 crore (₹1,410.6 million) was reduced to ₹2.72 million (₹27.2 lakh) after company submissions. Mukka Proteins intends to contest this revised demand, expecting no material financial impact. * Another SCN from DGGI, Mangaluru, alleges wrongful availment of Input Tax Credit (ITC) of ₹4.37 crore (₹43.68 million) related to IPO expenses from FY2021-22 to FY2023-24. The Company disputes this, arguing IPO expenses are eligible for ITC as they further business activities. This matter is pending adjudication.
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