Mukka Proteins Limited — Credit Ratings, 08-01-2026: Credit Rating- Revision

CARE Ratings has downgraded Mukka Proteins' ₹480 Cr Long/Short-Term Bank Facilities to CARE BBB; Negative / CARE A3+ (from BBB+; Stable / A2). Additionally, ₹15 Cr Long-Term facilities were assigned CARE BBB; Negative. The downgrade and Negative outlook reflect a stretched working capital cycle, significant inventory buildup, and weakened liquidity/debt coverage. Normalizing inventory is a key monitorable.