Mukka Proteins Limited has announced the signing of a Share Purchase Agreement to acquire the remaining minority stake in its subsidiary Ento Proteins Private Limited. The transaction, executed on 21st February 2026, will consolidate the company's ownership in the investee company.

Acquisition Details

The Share Purchase Agreement has been entered into with Holocene Ecosolutions Private Limited, the existing shareholder of Ento Proteins Private Limited. The transaction involves acquiring the remaining 25.99% equity share capital of the investee company.

Transaction Structure

The acquisition involves purchasing 1,000 equity shares of face value Rs. 100 each for a total consideration of INR 32,30,000. This translates to a premium acquisition price significantly above the face value of the shares. With this transaction, Mukka Proteins will increase its shareholding from the current 74.01% to 100%, making Ento Proteins a wholly-owned subsidiary.

Agreement Terms and Impact

As part of the transaction terms, the existing Shareholders' Agreement dated 7th September 2021 and its amendments will be rescinded and terminated in its entirety with effect from the closing of the acquisition. The company has clarified that the transaction does not fall within the purview of related party transactions, despite the promoters of Mukka Proteins also serving as directors of the investee company.

Regulatory Compliance

The disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the company's earlier intimation dated 12th February 2026 regarding the acquisition of additional equity shares in Ento Proteins Private Limited. The transaction represents a strategic move to consolidate ownership and streamline operations within the subsidiary structure.

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.