Mukka Proteins Completes Acquisition of Haris Marine Products, Making it a Wholly Owned Subsidiary
Mukka Proteins Limited has acquired 2,000 equity shares in Haris Marine Products Private Limited for ₹19,64,000, making it a wholly-owned subsidiary. The acquisition aims to expand the company's core business in fish meal and fish oil manufacturing and export. The transaction was completed on March 30, 2026.
The acquisition of a subsidiary, while strategic, involves a relatively small financial consideration (₹19.64 Lakhs) compared to the overall size of Mukka Proteins, suggesting a moderate impact.
The acquisition strengthens the company's position in its core business and expands its ownership in a subsidiary, which is generally viewed positively.
Mukka Proteins Limited has announced the completion of its further acquisition of equity shares in Haris Marine Products Private Limited ("HMPPL"). The company acquired 2,000 equity shares, each with a face value of ₹100, for a total consideration of ₹19,64,000.
As a result of this acquisition, HMPPL has become a Wholly Owned Subsidiary of Mukka Proteins Limited, effective March 30, 2026. HMPPL is engaged in the business of manufacturing and exporting fish meal and fish oil. The company's authorized and paid-up capital is ₹1,00,00,000. For FY 2024-25, HMPPL reported a turnover of Nil and a Profit After Tax (PAT) of ₹2,24,01,700. The acquisition was made as part of Mukka Proteins' strategic plan to expand its core business operations and was conducted on an arm's length basis, although HMPPL is considered a related party.
The acquisition of HMPPL, incorporated on October 30, 2019, is expected to enhance Mukka Proteins' presence in the fish meal and fish oil market. The previous turnover for HMPPL was ₹50,95,31,673 as of March 2023, with Nil turnover reported for the subsequent two fiscal years.
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Mukka Proteins Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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