Mukka proteins Limited, one of India's prominent manufacturers and exporters of fishmeal, fish oil, and fish-soluble paste, announced strong unaudited financial results for the quarter and nine months ended December 31, 2025. The company demonstrated exceptional growth momentum with revenue more than doubling year-on-year while securing significant new business opportunities in waste management solutions.

Financial Performance Highlights

The company's consolidated financial performance for Q3 FY26 showed remarkable growth across key metrics. Revenue from operations reached ₹653.50 crore, representing a substantial increase of 115.57% compared to Q3 FY25 and 167.19% quarter-on-quarter growth.

Nine-Month Performance Overview

For the nine-month period FY26, the company maintained strong growth trajectory with consolidated revenue reaching ₹1,068.85 crore compared to ₹624.84 crore in 9M FY25, marking a 71.06% year-on-year increase. EBITDA for the period stood at ₹96.15 crore with margins at 9.00%, while PAT reached ₹35.73 crore with margins at 3.34%.

Strategic Business Developments

Mukka Proteins secured a significant order worth ₹474.89 crore from Bengaluru Solid Waste Management Limited for the scientific treatment of legacy leachate. This first-of-its-kind order represents strategic diversification into large-scale leachate treatment segment, expanding the company's waste-to-value solutions portfolio.

ESG and Sustainability Initiatives

The company strengthened its carbon credit portfolio with significant developments in its BSF-driven wet-waste processing operations. The existing 300 TPD wet-waste processing operations, currently active under empanelment with Bengaluru Solid Waste Management Limited, are now formally listed on Verra Registry. Additionally, the company received incremental approval for expanding capacity to 1,000 TPD operations, advancing toward carbon credit issuance.

Management Commentary

CEO & MD Kalandan Mohammed Haris highlighted the company's strong performance and strategic progress. He emphasized the sharp revenue growth of 115.57% year-on-year for Q3 FY26, reaching ₹653.50 crore, and noted the company's strategic investments to expand scale and improve operating efficiency. These include increasing stakes to 100% in both Haris Marine Products Pvt. Ltd. and Ento Proteins Pvt. Ltd., alongside other strategic acquisitions to strengthen the platform for future expansion. The management aims to sustain momentum by benefiting from global fishmeal supply tightness while driving cost-optimization initiatives to enhance profitability.

Mukka Proteins Limited has amended its Code of Conduct for Regulating, Monitoring and Reporting of Trading by Insiders following Board approval on 12th February 2026. The amendment was made pursuant to Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, based on the recommendation of the Audit Committee.

Key Provisions of the Amended Code

The updated code establishes comprehensive guidelines for insider trading regulations and defines various categories of persons subject to these provisions. The code identifies designated persons including promoters, promoter groups, all members of the Board of Directors, executive directors, key executives, and their immediate relatives.

Definition of Unpublished Price Sensitive Information

The code provides detailed definitions of unpublished price sensitive information (UPSI), which includes information not generally available that could materially affect security prices. Key categories of UPSI encompass:

• Financial results and dividend declarations
• Changes in capital structure and mergers or acquisitions
• Key managerial personnel changes and rating modifications
• Fund raising activities and management control agreements
• Fraud, defaults, or arrests of key personnel
• Regulatory actions and litigation outcomes

Trading Restrictions and Pre-clearance Requirements

The amended code establishes strict trading restrictions for designated persons when in possession of UPSI. All designated persons must obtain pre-clearance before executing any transactions in company securities. The code mandates a minimum holding period of six months for acquired securities and requires submission of transaction reports within two trading days.

Digital Database and Compliance Framework

The Compliance Officer must maintain a structured digital database with time stamping and audit trails containing details of UPSI and persons with whom information is shared. The database must be preserved for at least eight years after completion of relevant transactions. The code also establishes a "Chinese Wall" concept to prevent misuse of confidential information between inside and public areas.

Penalties and Enforcement

Violations of the code may result in disciplinary action, penalties, debarment, suspension, or criminal prosecution. The company must promptly inform stock exchanges of any violations observed by the Board of Directors. The code clarifies that company disciplinary actions do not preclude SEBI and other authorities from taking separate enforcement actions.

The amended code is available on the company's website at https://mukkaproteins.com/policy.php and has been communicated to both NSE and BSE for further dissemination to market participants.