The Board of Directors of Mukka Proteins Limited approved the unaudited consolidated financial results for the quarter ended June 30, 2026, on August 12, 2026. The company reported a consolidated net profit after tax of ₹186.34 million, compared to ₹15.89 million in the corresponding quarter of the previous fiscal year. Total comprehensive income stood at ₹196.55 million.

Consolidated revenue from operations reached ₹4,748.04 million, marking a significant increase from ₹1,648.81 million in the quarter ended June 30, 2025. Including other operating income of ₹148.50 million, total revenue from operations amounted to ₹4,896.54 million. Standalone net profit for the quarter was ₹194.07 million, up from ₹11.35 million year-on-year, with standalone revenue from operations at ₹3,927.05 million.

Financial Performance

The company’s cost of materials consumed was ₹3,919.82 million in the consolidated results. Employee benefit expenses rose to ₹163.35 million from ₹78.89 million in the prior year quarter. Finance costs increased to ₹164.52 million from ₹110.41 million. Depreciation and amortisation expenses were recorded at ₹47.97 million.

Geographically, revenue outside India contributed ₹4,140.68 million to the total, while domestic revenue within India accounted for ₹607.36 million. In the standalone segment, international revenue was ₹3,526.55 million against domestic revenue of ₹400.51 million.

Strategic Investments and Capital Actions

The Board approved an investment in Swachha Eco Solutions Private Limited (SESPL), involving a capital contribution of ₹64.925 million (₹64,92,500). This transaction secures a 25.98% stake in SESPL, making it an associate of Mukka Proteins. The investment aligns with the company’s strategy to expand its waste management segment. SESPL, incorporated in September 2017, operates in the collection, treatment, and disposal of waste. Its turnover for FY26 was ₹1.77 million, with a net loss of ₹7.50 million.

Additionally, the Board cancelled and withdrew the proposed issuance of Senior, Secured, Rated, Listed, Redeemable, Taxable, Transferable, INR Denominated Non-Convertible Debentures aggregating up to ₹750 million on a private placement basis.

Board Appointments

The meeting included the re-appointment of several key executives and directors for five-year terms commencing January 2027, subject to shareholder approval at the 16th Annual General Meeting scheduled for September 10, 2026:

• Mr. Kalandan Mohammed Haris as Managing Director and CEO
• Mr. Kalandan Mohammed Althaf as Whole-Time Director and CFO
• Mr. Kalandan Mohammad Arif as Whole-Time Director and COO
• Mr. Karkala Shankar Balachandra Rao, Mr. Hamad Bava, and Mr. Narendra Surendra Kamath as Non-Executive Independent Directors

What the Numbers Show

The divergence between standalone and consolidated profits highlights the impact of joint ventures and associates. While standalone profit before tax was ₹274.99 million, the share of net loss from associates and joint ventures reduced the consolidated profit before tax to ₹273.74 million. This indicates that despite strong core operational performance, investments in joint ventures continue to exert downward pressure on consolidated earnings.

Shareholders of Mukka Proteins have approved a special resolution to issue warrants convertible into equity shares on a preferential basis, enabling the company to raise capital of up to ₹47 crore. The approval, secured through a postal ballot concluded on July 12, 2026, allows the Board of Directors to allot up to 2 crore warrants at an issue price of ₹23.50 per warrant. This financing structure provides flexibility for future equity conversion while securing immediate funding commitments from non-promoter investors.

The postal ballot process was conducted via remote e-voting from June 13, 2026, to July 12, 2026, with results declared on July 14, 2026. The proposal was initially notified on June 12, 2026, followed by a corrigendum issued on July 6, 2026, after exchanges sought clarifications regarding the preferential issue. Central Depository Services (India) Limited (CDSL) facilitated the e-voting platform, while Chethan Nayak & Associates served as the scrutinizer for the process.

Issue Structure and Terms

The warrant issuance follows specific regulatory frameworks under the Companies Act, 2013, and SEBI ICDR Regulations. Key terms of the issue include:

Warrant holders must pay 25% of the issue price (₹5.875 per warrant) at subscription, which will be adjusted against the final equity share price. The remaining 75% is payable when exercising the warrant. If warrants remain unexercised within 18 months, they lapse and the paid amount is forfeited by the company. The equity shares arising from conversion will rank pari-passu with existing equity shares in all respects, including dividend rights.

Allotment Details

The warrants are being allotted to 15 non-promoter entities and individuals. The allocation reflects diverse investor participation, including individual investors, Hindu Undivided Families (HUFs), and institutional players like Multiplex Capital Limited.

| Proposed Allottee | Category | Warrants Allotted | |---:|:---| | Mr. Irfan Chapra | Non-Promoter | 21,75,000 | | Ms. Reshma Chapra | Non-Promoter | 21,75,000 | | Mr. Vishal Maniar | Non-Promoter | 25,00,000 | | Ms. Payal Maniar | Non-Promoter | 12,00,000 | | Mr. Jasbir Singh Batra | Non-Promoter | 5,00,000 | | Mr. Ranjit Singh Batra | Non-Promoter | 5,00,000 | | Mr. Gurminder Kaur | Non-Promoter | 4,00,000 | | Jasbir Singh And Sons HUF | Non-Promoter | 4,00,000 | | Mr. Sarabdeep Kaur Darshan Singh | Non-Promoter | 4,00,000 | | Ranjit Singh and Sons HUF | Non-Promoter | 4,00,000 | | Multiplex Capital Limited | Non-Promoter | 3,50,000 | | Mr. Hiren Hiralal Shiyal | Non-Promoter | 22,50,000 | | Mr. B A Abdul Nasir | Non-Promoter | 22,50,000 | | Mr. Soofikhan Kalandar Asif | Non-Promoter | 22,50,000 | | Mr. B H Rizwan | Non-Promoter | 22,50,000 |

The floor price for the warrants was determined based on the relevant date of June 12, 2026, as per Regulation 161 of SEBI ICDR Regulations. Allotment must be completed within 15 days of resolution passage, subject to regulatory approvals.

Voting Outcome

The postal ballot received substantial participation from shareholders. Out of 1,30,984 shareholders on the cut-off date of June 10, 2026, 252 members cast votes representing 22,02,62,108 total votes. The resolution passed with overwhelming support:

| Voting Category | Members Voted | Votes Cast | |---:|:---| | Total Votes | 252 | 22,02,62,108 | | Votes in Favour | 218 | 22,01,79,675 | | Votes Against | 34 | 82,433 | | Invalid Votes | - | - |

No shareholder requested modification of votes already cast before the corrigendum issuance. The Chairman, Karkala Shankar Balachandra Rao, declared the resolution passed with requisite majority on July 12, 2026, and results were communicated to stock exchanges and uploaded on the company website on July 14, 2026.