Mukka Proteins Completes ₹19.64 Lakh Acquisition of Haris Marine Products, Expands Core Business

Mukka Proteins Limited announced the completion of its acquisition of Haris Marine Products Private Limited (HMPPL) for ₹19.64 lakh. This deal makes HMPPL a wholly-owned subsidiary of Mukka Proteins. The transaction involved purchasing 2,000 equity shares, bringing Mukka Proteins' ownership to 100%. The strategic move was finalized on 30th March 2026.

Strategic Expansion

Integrating HMPPL as a wholly-owned subsidiary supports Mukka Proteins' broader strategy to bolster and expand its core fish meal and fish oil operations.

Company Growth Strategy

Mukka Proteins has nearly five decades of experience in India's marine industry and is a pioneer in fishmeal manufacturing. The company has pursued acquisitions, including recent approvals for remaining shares in Ento Proteins and a stake in United Gulf Fishery Products LLC. In October 2024, Mukka Proteins announced a ₹98 crore preferential issue, partly funded by promoters, to support these expansion plans.

Ownership and Integration

Mukka Proteins now holds complete 100% ownership of Haris Marine Products Private Limited. HMPPL will be fully integrated into Mukka's operational framework, strengthening its presence and capacity in the core fish meal and fish oil business and supporting the company's long-term growth strategy for its animal protein segment.

Investor Scrutiny on Financials

Investor attention is drawn to Haris Marine Products' reported Profit After Tax (PAT) of ₹2.24 crore for FY 2024-25, contrasting with nil turnover for the same period. This differs significantly from its reported turnover of ₹50.95 crore in FY 2022-23. The anomaly raises questions regarding HMPPL's operational status and the source of its reported profit.

Peer Comparison

Mukka Proteins operates in a competitive landscape. Key peers include Avanti Feeds Ltd, a market leader in fish feed; EID Parry (India) Ltd, with interests in animal feed; and Apex Frozen Foods Ltd, active in aquaculture products.

Acquired Unit Financial Snapshot

Haris Marine Products Private Limited reported a Profit After Tax (PAT) of ₹2.24 crore for FY 2024-25 against nil turnover. For FY 2022-23, the company recorded a turnover of ₹50.95 crore.

Investor Focus

Investors will likely monitor the integration progress of HMPPL into Mukka Proteins' operations. Key focus areas include management's commentary on HMPPL's profitability despite nil turnover and how this acquisition contributes to Mukka Proteins' overall business expansion and financial performance.