Mukka Proteins Limited — Credit Ratings, 26-05-2026: Credit Rating- Revision

CARE Ratings downgraded Mukka Proteins' Long Term & Long Term/Short Term Bank Facilities to CARE BBB-; Negative / CARE A3 (from CARE BBB; Negative / CARE A3+). This downgrade is due to a stretched working capital cycle (189-226 days), high inventory, and tighter liquidity from 95% working capital utilization, impacting debt coverage. Outlook remains Negative.