MK Proteins grew revenue 43%. Profit shrank anyway.
Revenue hit ₹382.87 cr, but net profit fell 19% for the year and 59% in Q4.
— 1 earlier story on MK Proteins Ltd. →What's new
- Full-year revenue jumped 43% to ₹382.87 cr, but net profit fell 19% to ₹6.82 cr.
- Q4 profit fell 59% to ₹1.13 cr even as the top line expanded.
- The company maintained its 'A' credit rating and re-appointed its auditors.
Why this matters
MK Proteins is scaling sales while bleeding profitability. The revenue growth is strong, but the profit decline signals that input costs are rising faster than the company can raise prices, squeezing margins at every level.
What we're watching
- Whether input-cost pressure eases or the margin squeeze deepens in FY27.
- Management's explanation for the Q4 profit collapse on a growing topline.
- If the 'A' credit rating holds as profitability deteriorates further.
The full read
MK Proteins is selling more and earning less. Revenue grew 43% to ₹382.87 cr for FY26, but net profit shrank 19% to ₹6.82 cr. The squeeze was worst in the final quarter, where profit fell 59% to ₹1.13 cr. The rationale points to sharp margin compression, likely from high input costs or pricing pressure in the vegetable oil segment. For a nano-cap refinery, this pattern suggests the company is buying scale at the expense of margin. The top-line growth is real, but it cost the company profit. The full-year net profit is down even as the topline expanded significantly. The company kept its 'A' credit rating and re-appointed its auditors, but the core problem is plain: you can't grow revenue by 43% and shrink profit by 19% without a cost problem.
Questions answered
- How did profit fall if revenue grew 43%?
- The company's cost base grew faster than its sales. The rationale cites sharp margin compression likely from high input costs or pricing pressures in the vegetable oil segment.
- What was the severity of the Q4 profit decline?
- Q4 net profit fell 59% year-on-year to ₹1.13 cr from ₹2.79 cr. The margin squeeze intensified in the final quarter, even as full-year revenue grew strongly.
- What do the audited numbers imply about efficiency?
- The rationale states the profit contraction happened despite revenue growth, suggesting operational headwinds. Scaling by 43% without translating that into profit growth raises questions about cost management.
- What does the credit rating maintenance mean here?
- The company maintained its 'A' rating for bank facilities. The rating's stability is notable given the profit decline, as the filing made no link between the two.
Story so far
All notes on MKPL →- 29 May 2026 · 6:54 PM IST MK Proteins grew revenue 43%. Profit shrank anyway.
- 1d ago MK Proteins' 43% revenue jump can't stop profit from sliding