Mukka Proteins Limited · NSE:MUKKA
Mukka Proteins — Q4 FY26 Earnings Presentation
38 slides from Mukka Proteins's earnings presentation, May 22, 2026
Slide 1: Intimation of Investor Presentation - Q4 & FY26
Date: 22-05-2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Listing Department Bandra Kurla Complex, Dalal Street, Bandra East, Mumbai-400051 Mumbai-400001 Scrip Code: MUKKA Scrip Code: 544135 Dear Sir/Madam, Subject: Intimation of Investor Presentation - Q4 &
Slide 2: Investor Presentation Q4 & FY26
Investor Presentation Mukka Proteins Limited May 2026 Q4 & FY26
Slide 3: Contents
Contents Company Overview 01 Key Strengths & Growth Strategy 02 Performance & Business Update 03 Business Overview 04
Slide 4: Company Overview
Company Overview
Slide 5: At a Glance
At a Glance From Fishmeal → to an integrated animal protein & sustainability platform Mukka Proteins Limited (“MPL”) is one of India’s prominent manufacturers and exporters of fishmeal, fish oil, and fish-soluble paste, and a sustainability-focused company, engaged in waste-to-value solutions. Core
Slide 6: Our Journey: Five Decades of Execution, Expansion, and Value Creation
Our Journey: Five Decades of Execution, Expansion, and Value Creation Received ₹474.89 crore order for Name changed to Mukka scientific treatment of legacy Export market Proteins Limited leachate by BSWML Converted into Pvt. expanded in Far Strengthened Carbon Credit Mukka Group was East L
Slide 7: Experience-Driven Leadership with Long-Term Vision
Experience-Driven Leadership with Long-Term Vision Mr. K Abdul Razak Our Founder Chairman Mukka Proteins is built on the 50+ year marine industry legacy of Founder Chairman Mr. K. Abdul Razak, a pioneer in India’s fishmeal and fish oil sector. What began as a focused marine products venture grew ste
Slide 8: Steered by Operational Depth Backed by Strong Governance
Steered by Operational Depth Backed by Strong Governance K. Mohammed Haris K. Mohammad Arif K. Mohammed Althaf MD & CEO Whole-Time Director & COO Whole-Time Director & CFO • 25+ years of rich experience in fish meal and fish oil • 20+ years of rich experience in fish meal industry • 20+ years of ric
Slide 9: ESG at Core: Sustainability as a Business Driver
ESG at Core: Sustainability as a Business Driver 1,00,000+ tonnes wet waste diverted from landfills Zero landfill | Zero leachate | Lower GHG emissions Circular food economy: Waste → Protein → Feed → Food Carbon Credits: Approvals for 1,200 TPD received (EPPL 200 TPD + MPL 300 TPD advanced toward ca
Slide 10: Competitive Advantages & Growth Strategy
Competitive Advantages & Growth Strategy
Slide 11: Structural Advantages Powering Long-Term Growth
Structural Advantages Powering Long-Term Growth Platform, Not a Commodity First-Mover in Next-Gen Protein Sustainable Cost & Moat ESG-Aligned Growth Engine Integrated protein + waste + Early scale in insect protein & Structural cost advantage via integrated Green revenues: waste-to-value, biot
Slide 12: Future Outlook & Strategy
Future Outlook & Strategy Revenue Growth Outlook (INR Cr) ₹ 3,000+ Cr Building Capabilities Global Manufacturing Through Disciplined & Supply Chain More than 2x Expansion ₹ 1,449 Cr growth targeted Strategically located coastal assets in ~4 years Continuously expanding via organic and export-led, in
Slide 13: Global Manufacturing & Supply Chain: Strategic Coastal Assets
Global Manufacturing & Supply Chain: Strategic Coastal Assets 25+ 24 16 79.7% Export regions International Manufacturing units Owned In-house Export Revenue Asia | Middle East | markets (Incl 3rd party & job production facilities in share FY26 Far East | Europe | US units) India & Oman Strategic Ass
Slide 14: Business Diversification: Four Verticals, One Integrated Platform
Business Diversification: Four Verticals, One Integrated Platform Fish Protein Alternate Proteins Waste Management Frozen & Value Added Fish Meal Insect Meal Leachate Management Surimi Fish Oil Insect Oil Crustacean Fish Soluble Paste Insect Compost Cephalopods Humic Acid Scombroid / Non Scombroid B
Slide 15: Innovation & Manufacturing Excellence
Innovation & Manufacturing Excellence Page 14
Slide 16: Strengthening International Presence: Oman Operations Expansion
Strengthening International Presence: Oman Operations Expansion Upcoming Facility Spread over 21,249 sq. mt, with operations expected to commence in the coming quarters Aljoubah Industrial Area (Oman) Page 15
Slide 17: MarinTrust & Global Certifications
MarinTrust & Global Certifications Marintrust IP Global Certifications Acceptance under MarinTrust Improver Programme for GMP+ Feed Certification Export Inspection Certification HACCP Certification Responsible Supply of Marine Ingredients ISO Food Safety • Received confirmation from Global Trust Cer
Slide 18: Building Capabilities Through Disciplined Expansion
Building Capabilities Through Disciplined Expansion Mukka Proteins Limited GSM MPL HRC OCEAN HARIS MANGALORE ENTO OCEAN FABBCO BIO MUKKA UNITED ATLANTIC PROGRESS ULLAL FISH JATHIN AQUATIC PROTEINS PROTEINS CYCLE AND FROZEN MARINE GULF MARINE MARINE FROZEN & FISH FISH MEAL & MEAL & ECOSOLUTIONS PROTE
Slide 19: Rising India & Global Opportunity
Rising India & Global Opportunity Market Demand 44 Mn Tons Growth Drivers 22 Mn Tons Growth is supported by rising domestic consumption, expanding aquaculture capacity, and sustained policy Fish Market Demand CAGR: 7.4% support for fisheries development. 2024 2033 Source: MOFPI Strong volume growth
Slide 20: Rising India & Global Opportunity
Rising India & Global Opportunity Fish Protein (Core Market) Alternate Proteins (Insect Biotech Platform) Structurally supply-constrained market with limited new capacity Fishmeal substitution, sustainability mandates, regulatory approvals additions expanding globally ~5–6 Mn MT ~5% CAGR India ~$1 B
Slide 21: Awards & Recognition
Awards & Recognition FKCCI Export Time2Leap VTPC State Export Excellence Award MSME Award SKOCH Award Excellence Award (2017-2019) (2020) (2020,2021) (2020) Recognised amongst Apex India MSME MPEDA Export National Logistics High Growth Companies Export Gold Award Award Excellence Award Asia-Pacific
Slide 22: Performance & Business Update
Performance & Business Update
Slide 23: Strong Q4 & FY26 Performance
Strong Q4 & FY26 Performance Q4FY26 EBITDA (Rs. Cr.) & EBITDA Margin (%) PAT (Rs. Cr.) & PAT Margin (%) Revenue from Operations (Rs. Cr.) 8.7% 8.1% 12.9% 3.7% 4.2% 5.6% 653.5 53.2 49.2 381.6 380.6 33.2 27.3 21.4 14.0 Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 FY26 Revenu
Slide 24: Key Business Highlights – Q4 FY26
Key Business Highlights – Q4 FY26 MarinTrust IP International Capacity Expansion Sustainable Sourcing Oman Upcoming Oman Facility Current Status Strengthened traceability & global compliance via 21,249 sq. mt plant underway; to drive capacity acceptance under MarinTrust Improver Programme scale-up a
Slide 25: Financial Performance (Annual)
Financial Performance (Annual) INR Crores Particulars FY23 FY24 FY25 FY26 Revenues from operations 1,156.40 1,342.10 980.00 1,403.60 Other operating income 20.80 37.70 26.40 45.90 Total Revenues from operations 1,177.10 1,379.80 1,006.40 1,449.50 Other income 6.70 16.30 15.10 28.70 Total income 1,18
Slide 26: Business Overview
Business Overview
Slide 27: A) Fish Protein
A) Fish Protein Leading Export-focused Marine Protein Platform With Strong Global Demand Market Leadership ~25–30% share of Indian fish protein exports Competitive Strengths High Protein Content Custom Formulations Sticky Global Customers 60–65% protein Application-specific Long-term export formulat
Slide 28: Fishmeal: High-Protein Feed for Global Aquaculture
Fishmeal: High-Protein Feed for Global Aquaculture Mukka Proteins produces consistently high-protein fishmeal for sustainable aquaculture worldwide END-USE CONCENTRATION Aquaculture What it is: High-protein feed ingredient produced 5% from sustainably sourced pelagic fish 3% 1% Poultry Primary u
Slide 29: Fish Oil: Omega-3 Rich Marine Lipids with Diversified End Use
Fish Oil: Omega-3 Rich Marine Lipids with Diversified End Use High-quality fish oil produced at scale, supporting aquaculture nutrition & growing demand for Omega-3 in veterinary pharmaceuticals What it is: USES OF FISH OIL Extracted from cooked raw fish Nutritional profile: 21% Rich in Omega-3
Slide 30: Fish Soluble Paste: Nutrient-Rich Feed Enhancer
Fish Soluble Paste: Nutrient-Rich Feed Enhancer Circular manufacturing: every output monetized, minimal waste What it is: By-product of fishmeal process Process Nutritional value: Rich in proteins, vitamins, and amino acids Protein Primary use: Water Improves feed palatability and nutrition, especia
Slide 31: B) Alternate Proteins - Insects Biotech Platform
B) Alternate Proteins - Insects Biotech Platform Sustainable Feed & Fertiliser Powered by ESG-led Black Soldier Fly Biotechnology Mukka Proteins Limited is a pioneer in India’s Black Soldier Fly (BSF)–based insect protein and compost industry Municipal Wet Waste BSF Processing (Black Soldier Fly) Wh
Slide 32: Alternate Proteins – Products Portfolio
Alternate Proteins – Products Portfolio Mukka Proteins’ alternate protein vertical is built on Black Soldier Fly (BSF) insect biotechnology, converting organic waste into high-value proteins, oils, and soil nutrients — creating a scalable, ESG-aligned feed and agri-inputs platform. Insect Meal Insec
Slide 33: C) Waste Management & Environmental Solutions
C) Waste Management & Environmental Solutions Leachate Management High-Barrier, Recurring Environmental Infrastructure Platform How We Earn? Advantages What We Do? • Fees from municipalities • Future upside: carbon credits • Long-term government contracts • Municipal wet waste processing • High entr
Slide 34: Leachate Management – Bengaluru Leachate Treatment project
Leachate Management – Bengaluru Leachate Treatment project Bengaluru Leachate Treatment Order value Scope ₹474.89 Cr Client Legacy leachate (ex-GST) Bengaluru Solid treatment at Waste Management Mittaganahalli & Ltd (BSWML) Kannur JV stake 76% CAPEX ~₹100 Cr Timeline ~6 months build 4-year project F
Slide 35: D) Frozen & Value-added Marine Products
D) Frozen & Value-added Marine Products Export-focused, quality-led margin diversification platform EU-approved, export-focused frozen seafood platform enabling forward integration and margin diversification What We Produce Advanced Processing Strategic Location • Surimi Near ports and fishing harbo
Slide 36: Frozen & Value-added Marine Products
Frozen & Value-added Marine Products Forward integration into value-added marine products to enhance raw material monetisation EU-Approved Processing Facility IQF Freezing 13 TPD Surimi 60 TPD TPF 86 TPD Non Surimi 67 TPD Blast Freezers 28 TPD Freezing Capacity 127 TPD Total Capacity 127 TPD Blast F
Slide 37: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Mukka Proteins Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securit
Slide 38: Thank you
Thank you Mukka Proteins Limited Ernst & Young LLP CIN: L10207KA2010PLC055771 Investor Relation Advisory Vikash Verma Mehaboobsab M Chalyal Vikash.Verma1@in.ey.com (Company Secretary & Compliance Officer Sumedh Desai investors@mukkaproteins.com Sumedh.desai@in.ey.com Sukhin Naphade sukhin.s.naphade@