20% Upper Circuit: FMCG stock skyrockets after receiving order worth ₹474 Cr

Synopsis:
The stock surged sharply after a ₹474 crore environmental project order boosted long-term revenue visibility. Recent quarters show strong growth in sales and profits, improving margins, strategic Middle East expansion, and a wide manufacturing and export footprint, supporting optimistic business momentum ahead.

The shares of a prominent exporter of fish products hit 20 percent upper circuit, hitting the upper price band in today’s trading session, after the company secured a significant work order from Bengaluru Solid Waste Management Limited worth Rs 474 crore.

With a market capitalisation of Rs 877.50 crore, the shares of Mukka Proteins Ltd were trading at Rs 29.25 per share, increasing around 14.20 percent as compared to the previous closing price of Rs 25.21 apiece.

Significant Order

The shares of Mukka Proteins Ltd have seen bullish movement after its JV with Hardik Gowda and MS Jathin Infra Private Limited secured a massive Rs 475 crore work order from Bengaluru Solid Waste Management Limited. The project, focused on legacy leachate treatment at two major landfill sites, significantly boosts revenue visibility and positions the company in a fast-growing environmental solutions segment.

Financial & Margin Highlights

The company delivered a standout performance in Q2FY26, with revenue jumping 64% to Rs 244.58 crore, signalling strong business momentum. Profit growth was even more striking, as net earnings surged 368% to  Rs 6.89 crore. This sharp improvement highlights better execution, operating leverage, and stronger demand conditions.

Mukka Proteins Ltd has shown a clear recovery in operating performance. Operating profit improved from  Rs 9.56 crore in Sep 2024 to  Rs 20.27 crore in Sep 2025. At the same time, OPM strengthened from 6.41% to 8.29%, indicating better cost control and improved core business efficiency.

Recently, Mukka Proteins Ltd approved a strategic investment of up to ₹1 crore to acquire a 68% stake in United Gulf Fishery Products LLC. This move marks its entry into the Middle East, leveraging local expertise to expand operations, while a future merger is being explored for stronger synergies.

Mukka Proteins Ltd operates a wide manufacturing network across 10 locations in Gujarat and Karnataka, with a strong combined capacity of 1 lakh metric tonnes. Its presence is not just domestic; the company exports to over a dozen countries, including China, Saudi Arabia, Vietnam, and South Korea, reflecting a growing global footprint.

Mukka Proteins Ltd is an Indian animal protein manufacturer focused on fish-based products for aquaculture and livestock feed. With multiple plants across Gujarat and Karnataka, the company serves both domestic and global markets, supplying to several countries across Asia and the Middle East.

Written by Abhishek Singh

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