Mukka Proteins Ltd confirmed that its promoters and promoter group, along with persons acting in concert, did not create any encumbrance on shares held directly or indirectly during the financial year ended March 31, 2026. This disclosure ensures that the shareholding structure remains unpledged, providing stability to the company's ownership base. The confirmation was submitted to the National Stock Exchange of India Limited and BSE Limited.

The filing was made pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The document was signed by Promoter Mohammed Haris K on April 6, 2026. The disclosure includes a comprehensive list of 57 entities categorized as promoters or promoter group, detailing their respective shareholding status.

The list of promoters and promoter group entities includes individuals and corporate bodies. While several key promoters hold significant equity stakes, a majority of the listed entities hold Nil shares. The disclosure serves as a formal declaration of the non-encumbrance status for the specified financial year.

Shareholding Details

The following table outlines the shareholding of the promoters and promoter group members as disclosed in the filing:

The remaining 49 entities listed in the annexure, including various individuals and private limited companies such as Shipwaves Online Limited, Umaya Developers Private Limited, and Sulthan Gold Private Limited, reported Nil shareholdings.

Mukka Proteins has secured partial relief in its tax appeal for Assessment Year 2018-19, with the Commissioner of Income Tax (Appeals)-2, Panaji, deleting additions totaling ₹8.08 crore while sustaining a demand of ₹7.55 crore. The appellate order, dated June 30, 2026, addressed disputes arising from an assessment completed under Section 143(3) read with Section 263 of the Income-tax Act, 1961. The order reduces the company's disputed tax liability, though a significant addition remains subject to a higher effective tax rate.

The litigation involved the Assistant Commissioner of Income Tax, Central Circle-1, Mangalore, who had originally made additions totaling ₹15.63 crore. This comprised an alleged excess stock of ₹11.14 crore and prior period income of ₹4.48 crore. The company filed an appeal against these additions, leading to the recent order which provides relief on specific components of the demand.

Breakdown of the Appellate Order

The Commissioner of Income Tax (Appeals) partly allowed the appeal, providing relief on two key counts. The addition of prior period income amounting to ₹4.48 crore was deleted after the authority held that the income had already been offered to tax in earlier assessment years. Additionally, out of the total alleged excess stock of ₹11.14 crore, an addition of ₹3.60 crore was deleted.

However, the addition relating to alleged excess stock amounting to ₹7.55 crore has been sustained. This amount is assessed under the special tax rate prescribed under Section 115BBE of the Income-tax Act, which carries an effective rate of 78%. The company stated that it has already discharged the tax liability on this amount at the normal tax rate, which has an effective rate of 34.944%.

Financial Implications and Next Steps

Pursuant to the appellate order, the company has secured a reduction in the taxable demand by ₹8.08 crore. The consequential tax impact will be determined in accordance with the provisions of the Income-tax Act, 1961. The sustained addition of ₹7.55 crore under Section 115BBE remains a point of contention, given the higher effective tax rate applicable to such income.

Mukka Proteins is currently evaluating the appellate order to understand its full financial implications. The company indicated that it is considering appropriate legal remedies available under the law to address the sustained addition. The intimation was submitted to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.