Mukka Proteins Acquires Remaining Shares in Haris Marine Products
Filing Summary
Mukka Proteins Ltd has announced the acquisition of an additional 2,000 equity shares in Haris Marine Products Private Limited (HMPPL), making it a wholly owned subsidiary. The transaction, valued at Rs. 19,64,000, increases Mukka Proteins’ shareholding in HMPPL from 98% to 100%. HMPPL, a manufacturer and exporter of fish meal and fish oil, reported a profit after tax of Rs. 2,24,01,700 for the fiscal year 2024-25. The acquisition is part of Mukka Proteins’ strategic investment plans to expand its core business operations.
Mukka Proteins Ltd has informed the National Stock Exchange of India Limited and BSE Limited about its decision to acquire additional shares in Haris Marine Products Private Limited (HMPPL). The Board of Directors approved the acquisition of 2,000 equity shares, each with a face value of Rs. 100, from existing shareholders. This acquisition will result in HMPPL becoming a wholly owned subsidiary of Mukka Proteins, increasing the company’s shareholding from 98% to 100%.
The total consideration for the acquisition amounts to Rs. 19,64,000. The transaction involves a cash payment for the shares. This acquisition is conducted on an arm’s length basis, as HMPPL is a related party under the Companies Act, 2013, due to its status as a subsidiary company. The promoters of Mukka Proteins have an interest in HMPPL through their shareholding and directorship.
HMPPL operates in the manufacturing and exporting sector, specifically focusing on fish meal and fish oil. The company has an authorized and paid-up capital of Rs. 1,00,00,000. Despite reporting no turnover for the fiscal year 2024-25, HMPPL achieved a profit after tax of Rs. 2,24,01,700. The acquisition aligns with Mukka Proteins’ strategic investment plans to enhance its core business activities.
The acquisition does not require any governmental or regulatory approvals. The completion of the acquisition is expected by June 30, 2026. The meeting of the Board of Directors, where this decision was approved, commenced at 4:00 p.m. and concluded at 4:45 p.m. on February 12, 2026.
HMPPL was incorporated on October 30, 2019, and is based in India. The company reported a turnover of Rs. 50,95,31,673 for the fiscal year ending March 2023, but recorded no turnover for the subsequent two fiscal years. The acquisition is part of Mukka Proteins’ efforts to consolidate its position in the fish meal and fish oil market.
Mukka Proteins Ltd is engaged in the production and export of fish meal and fish oil. The company focuses on expanding its market presence and enhancing its operational capabilities through strategic investments and acquisitions. Mukka Proteins aims to strengthen its core business operations and increase its market share in the industry.