Draft:Mukka Proteins Limited
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| Company type | Public |
|---|---|
| ISIN | INE0CG401037 |
| Industry | Fish meal |
| Founded | 1960 |
| Founder | Kalandan Mohammed Haris, Kalandan Mohammad Arif, Kalandan Mohammed Althaf |
| Headquarters | , |
Number of locations | 20 (2024) |
Area served | Worldwide |
Key people | Kalandan Mohammed Haris (Managing Director), Kalandan Mohammed Althaf (Chief Financial Officer), Kalandan Mohammad Arif (Chief Operating Officer) |
| Products | Fish meal, Fish oil, Fish soluble paste |
| Owner | Promoters (73.33%), Public (26.66%) |
Number of employees | 1500 |
| Subsidiaries | Haris Marine Products Pvt Ltd, Atlantic Marine Products Pvt Ltd, Ocean Aquatic Proteins LLC |
Mukka Proteins Limited is an Indian multinational corporation specialising in the production and export of animal protein products, primarily fish meal, fish oil and fish soluble paste, headquartered in Mangaluru, Karnataka.[1][2][3]
History
[edit]Mukka Proteins was initially founded as a partnership firm in 2003 under the name "Mukka Sea Foods Industries." It was incorporated as a private limited company in 2010 and later converted into a public limited company in 2019. The name was changed to Mukka Proteins Limited in 2021, reflecting its broader focus on animal protein products.[1][4]
The company is listed on the National Stock Exchange of India (NSE) under the symbol NSE: MUKKA. As of its initial public offering (IPO) in 2024, the promoters held 73.33% of the company's shares, with the remaining 26.67% held by public investors. The shares listed at 57% premium on the offering price.[5]
For the fiscal year ending March 2024, Mukka Proteins reported a revenue of ₹1,380 crores and a net profit of ₹87 crores.[6]
Operations
[edit]Mukka Proteins operates manufacturing facilities in India and Oman, using equipment to process raw fish into products. The company also owns blending and storage facilities.[7][8]
Its products include:
- Fish meal: a high-protein feed ingredient for aquaculture and livestock
- Fish oil: used in animal feed, nutraceuticals, and industrial applications like soap and paint manufacturing
- Fish soluble paste: a by-product used in aqua feed production
Legal Issues and Arbitration Awards
[edit] |
In January and February 2025, two arbitration awards were issued against Ocean Aquatic Proteins, a subsidiary of Mukka Proteins, in which Mukka Proteins holds a 63% stake, with the remaining shares owned by affiliated entities/persons. The awards were rendered by the Swiss arbitration tribunal and GAFTA, arising from contractual disputes related to the supply of substandard products and the issuance of veterinary certificates containing false information. These contracts were executed by Mukka Proteins' officials through Ocean Aquatic Proteins. Despite the binding nature of the awards, the company has refused to comply with the rulings.
References
[edit]- ^ a b "SEBI | Mukka Proteins Limited - RHP". www.sebi.gov.in. Retrieved 13 January 2025.
- ^ "Mukka Proteins Ltd receives orders worth Rs. 15.25 crores from Avanti Feeds Ltd". APN News (Press release). 18 March 2024. Retrieved 13 January 2025.
- ^ "Mukka Proteins Limited Announces Rs 98 Crore Preferential Issue for Acquisition and Expansion". ANI News (Press release). Retrieved 13 January 2025.
- ^ ET NOW (28 February 2024). Mukka Proteins IPO To Open On Feb 29 | Tracking The Plans For ENO Proteins | Business News. Retrieved 13 January 2025 – via YouTube.
- ^ "Mukka Proteins lists at 57% premium over IPO price; should you hold or sell for listing gains?". The Economic Times. 7 March 2024. ISSN 0013-0389. Retrieved 13 January 2025.
- ^ "Mukka Protein". www.mukkaproteins.com. Retrieved 13 January 2025.
- ^ "Mukka Proteins". www.mukkaproteins.com. Retrieved 13 January 2025.
- ^ Kataria, Ketan (1 March 2024). "Mukka Proteins IPO Receives Strong Response, Oversubscribed by 6.97 Times on Day 2". goodreturns.in. Retrieved 13 January 2025.
External links
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