Mukka Proteins Limited announced that its Board of Directors has approved the acquisition of additional equity shares in subsidiary company Ento Proteins Private Limited (EPPL) during a meeting held on February 12, 2026. The strategic move will transform EPPL into a wholly owned subsidiary of the fish meal and fish oil manufacturer.

Acquisition Details

The Board approved the acquisition of 1,000 equity shares of face value Rs. 100 each in EPPL for a total consideration of Rs. 32,30,000. The shares will be acquired from existing shareholders through a cash transaction.

Shareholding Structure Changes

The acquisition will significantly alter Mukka Proteins' ownership structure in EPPL, increasing its control substantially.

Target Company Profile

Ento Proteins Private Limited operates in the alternative proteins sector, specializing in insect-based products. The company was incorporated on March 8, 2021, and has demonstrated consistent growth in its business operations.

Business Performance Trajectory

EPPL has shown steady revenue growth over the past three years in the insect meal and insect oil manufacturing segment:

Strategic Rationale

The acquisition forms part of Mukka Proteins' strategic investment plans to expand its alternate proteins business. EPPL's specialization in insect meal and insect oil manufacturing complements the parent company's existing portfolio in the protein sector. The transaction is being conducted on an arm's length basis, with EPPL classified as a related party due to its subsidiary status.

Regulatory Compliance

The Board meeting, which commenced at 4:00 p.m. and concluded at 4:45 p.m., was conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No governmental or regulatory approvals are required for completing this acquisition. The company has provided comprehensive disclosures as mandated under Schedule III of the Listing Regulations.

Mukka Proteins Limited has reached a major milestone in its sustainability journey with the formal listing of its Black Soldier Fly (BSF) project on the Verra Registry. The company's 300 TPD wet-waste processing operations in Bengaluru have been registered under Project ID 5893, marking significant progress toward carbon credit generation.

Verra Registry Listing and Validation Process

The BSF-driven municipal wet-waste processing initiative, currently operational under the company's empanelment with Bengaluru Solid Waste Management Limited, has entered the mandatory 30-day public comment period following its Verra listing. This represents the next formal step in Verra's carbon credit registration workflow.

Following the public comment period, an accredited validation and verification body will conduct on-site assessment and prepare the final validation report to complete the VCS registration cycle. VCU eligibility currently applies specifically to the 300 TPD operational BSF facility, with performance monitoring and validation activities underway.

Capacity Expansion Approval

Mukka Proteins has received incremental approval to expand its processing capacity significantly within Bengaluru's integrated waste-management framework. The expansion represents a substantial increase from the previously announced 200-300 TPD capacity.

The project is structured as a grouped project under the VCS program, enabling phased inclusion of additional processing modules. As each phase of the expanded capacity becomes operational and validated, additional carbon credits will be generated and registered according to Verra's validation and verification requirements.

Strategic Impact and Future Potential

The phased structure ensures that while current 300 TPD operations advance toward carbon credit issuance, future capacity additions up to 1,000 TPD will support progressively larger VCU generation. This approach strengthens long-term sustainability and revenue-diversification potential for the company.

Mr. Kalandan Mohammed Haris, CEO & MD, commented on the development: "The listing of our Bengaluru BSF project on the Verra Registry marks a key advancement in our carbon credit roadmap. While carbon certification is underway for the ongoing 300 TPD operations, our newly approved pathway to scale up to 1,000 TPD positions us to expand this platform significantly over the coming phases."

Company Background

Mukka Proteins Limited operates as one of India's prominent manufacturers and exporters of fishmeal, fish oil, and fish-soluble paste. The company maintains a strong export presence across 25+ countries with diversified operations in India and the Middle East. Key operational highlights include:

• Market share of 25-30% in India's fishmeal and fish oil market
• Installed capacity of 2,64,390 MT per year across fish meal, fish oil and fish soluble paste
• Recognition as 311th in FT1000 High Growth Companies Asia-Pacific 2025 edition
• Strategic manufacturing and blending facilities for supply reliability

The BSF project represents the company's expansion into waste-to-value solutions and circular-economy technology, complementing its core aquaculture and animal nutrition business segments.