HMA Agro FY26 Revenue Jumps 39% to ₹6,769 Crore

FY26 Performance (Year Ended March 31, 2026):

Revenue: ₹6,768.9 crore (up 39.2% YoY from ₹4,864.0 crore in FY25)
EBITDA: ₹210.95 crore (up 80.3% YoY from ₹117.02 crore in FY25)
EBITDA Margin: 3.12% (improved from 2.4% in FY25)
Profit Before Tax (PBT): ₹171.85 crore (up 89.2% YoY from ₹90.82 crore in FY25)
Profit After Tax (PAT): ₹127.10 crore (up 111.5% YoY from ₹60.10 crore in FY25)

Q4 FY26 Performance (Quarter Ended March 31, 2026):

FY26 Performance (Year Ended March 31, 2026):

Revenue: ₹6,916.50 crore (up 34.7% YoY from ₹5,133.02 crore in FY25)
EBITDA: ₹283.96 crore (up 54.8% YoY from ₹183.49 crore in FY25)
EBITDA Margin: 4.11% (improved from 3.57% in FY25)
Profit Before Tax (PBT): ₹217.74 crore (up 73.4% YoY from ₹125.60 crore in FY25)
Profit After Tax (PAT): ₹165.19 crore (significant increase from previous year, though exact YoY comparison not quantified)

Strong revenue growth supported by higher export earnings and expansion into new geopolitical markets
Addition of new customers and improved market share across key business sectors
Substantial EBITDA improvement driven by better operational efficiency, improved product mix, high-capacity utilization, and disciplined cost management
Malaysian authority's approval received for one subsidiary, enabling better capacity utilization and financial performance
Continued strong demand across major business verticals from both existing and new international buyers

Management declared FY26 as the "strongest financial year in the history of company" with record performance across all major parameters
Company targeting to become ₹10,000 crore revenue organization by FY27
Exploring diversification into new product categories including frozen French fries and chicken products (currently in initial stages)
Working to increase market penetration in Philippines where previous targets were not achieved due to selective product preferences

Geopolitical tensions in Middle East creating challenges for logistics and trade movement
Significant increase in freight costs impacting product pricing
Input cost inflation affected by weather conditions, transportation costs, and farmer pricing dynamics
Competitive pressure from other exporting countries (Brazil, New Zealand) limiting pricing flexibility

Geographical Revenue Split:

Management declined to provide specific geographical bifurcation during the call, offering to share continental-wise revenue breakdown via email

Philippines Market:

Previous target of 25% sales from Philippines not achieved in FY26
Challenge: Philippine market only buys selective products rather than full range
Company working to educate market and increase demand for broader product range

Pricing Competitiveness:

Indian buffalo meat prices are competitive in Southeast Asian markets (Vietnam, Malaysia) due to limited local livestock availability
Exact price advantage percentage not disclosed, offered to provide via email

Rice Business Update:

OFS Divestment:

OFS conducted at ₹18 per share to achieve minimum public shareholding requirements
Price determined by board based on current market value and SEBI circular guidelines
SEBI regulations allow seller to determine selling price