Financial Performance - Standalone Basis

Quarterly Performance (Q4 FY26 vs Q4 FY25)

  • Revenue increased 7.08% from ₹14,368.20 million to ₹15,384.83 million
  • Other Income: ₹383.85 million (not comparable)
  • Total Income: ₹15,748.69 million
  • Operating Expense: ₹15,364.84 million
  • EBITDA: ₹383.85 million (2.49% margin) vs ₹139.77 million (0.97% margin) - 174.63% growth
  • EBITDA margin expanded by 346 basis points
  • Depreciation & Amortization: ₹13.58 million
  • Finance Cost: ₹111.16 million
  • PBT: ₹259.11 million (1.68% margin) vs ₹48.48 million (0.34% margin) - 434.47% growth
  • PBT margin expanded by 202 basis points
  • Tax Expense: ₹67.00 million
  • PAT: ₹192.11 million (1.25% margin) vs loss of ₹14.79 million (-0.10% margin)
  • PAT margin expanded by 135 basis points

Annual Performance (FY26 vs FY25)

  • Revenue increased 39.22% from ₹48,621.43 million to ₹67,689.16 million
  • Other Income: ₹1,234.82 million vs ₹789.84 million
  • Total Income: ₹68,923.98 million (39.49% growth)
  • Operating Expense: ₹66,814.44 million
  • EBITDA: ₹2,109.54 million (3.12% margin) vs ₹1,107.26 million (2.41% margin) - 80.26% growth
  • EBITDA margin expanded by 553 basis points
  • Depreciation & Amortization: ₹53.34 million vs ₹51.37 million
  • Finance Cost: ₹337.70 million vs ₹210.65 million
  • PBT: ₹1,718.50 million (2.54% margin) vs ₹908.24 million (1.87% margin) - 89.21% growth
  • PBT margin expanded by 441 basis points
  • Tax Expense: ₹447.43 million vs ₹306.51 million
  • PAT: ₹1,271.07 million (1.88% margin) vs ₹601.73 million (1.24% margin) - 111.24% growth
  • PAT margin expanded by 312 basis points

Financial Performance - Consolidated Basis

Quarterly Performance (Q4 FY26 vs Q4 FY25)

  • Revenue increased 5.30% from ₹14,995.59 million to ₹15,790.98 million
  • Other Income: ₹368.21 million vs ₹333.41 million
  • Total Income: ₹16,159.19 million (5.42% growth)
  • Operating Expense: ₹15,852.82 million vs ₹14,948.82 million
  • EBITDA: ₹306.37 million (1.94% margin) vs ₹380.18 million (2.54% margin) - 19.41% decline
  • EBITDA margin decreased by 60 basis points
  • Depreciation & Amortization: ₹80.11 million vs ₹88.34 million
  • Finance Cost: ₹111.68 million vs ₹83.51 million
  • PBT: ₹114.58 million (0.73% margin) vs ₹208.33 million (1.39% margin) - 45.00% decline
  • PBT margin decreased by 66 basis points
  • Tax Expense: ₹32.37 million vs ₹84.84 million
  • PAT: ₹82.21 million (0.52% margin) vs ₹123.49 million (0.82% margin) - 33.43% decline
  • PAT margin decreased by 30 basis points

Annual Performance (FY26 vs FY25)

  • Revenue: ₹69,164.95 million (figures not directly comparable)
  • Other Income: ₹1,249.24 million vs ₹813.55 million
  • Total Income: ₹70,414.19 million (35.04% growth)
  • Operating Expense: ₹67,574.60 million vs ₹50,308.79 million
  • EBITDA: ₹2,839.59 million (4.11% margin) vs ₹1,834.93 million (3.57% margin) - 54.75% growth
  • EBITDA margin expanded by 768 basis points
  • Depreciation & Amortization: ₹316.29 million vs ₹345.21 million
  • Finance Cost: ₹345.87 million vs ₹233.68 million
  • PBT: ₹2,177.43 million (3.15% margin) vs ₹1,256.04 million (2.45% margin) - 73.36% growth
  • PBT margin expanded by 560 basis points
  • Tax Expense: ₹525.57 million vs ₹379.14 million
  • PAT: ₹1,651.86 million (2.39% margin) vs ₹876.90 million (1.71% margin) - 88.37% growth
  • PAT margin expanded by 410 basis points

Capital Market Data (as on March 31, 2026)

  • Face Value: ₹1.0
  • Market Price: ₹29.65 (Q4), ₹21.65 (FY)
  • Quarter High/Low: ₹30.27/₹21.65
  • 52 Week High/Low: ₹37.25/₹21.65
  • Market Capitalization: ₹1,084.16 Crore
  • Equity Shares Outstanding: 50.07 Crore
  • Q4 Average Trading Volume: 254,764,000
  • FY Average Trading Volume: 388,311,000

Business Overview

HMA Agro Industries Limited is a Government of India recognized Five Star Export House with over four decades of experience in integrated food processing and export. The company has:

  • Global presence in more than 40 countries across five continents
  • State-of-the-art manufacturing and processing facilities across key Indian states
  • Diversified product portfolio including frozen meat, seafood, rice, edible offals, pet food, fruits, vegetables, and leather products
  • Brands: Black Gold, Kamil, HMA, Darlingpets, Fresh Gold, and Green Gold
  • Certifications: ISO, HACCP, FSSC, GMP, and other international quality standards
  • Integrated supply chain covering processing, cold storage, packaging, quality control, and export logistics
  • 8+ facilities across India with daily capacity of approximately 1,472 MT
  • Annual processing capacity of approximately four lakh tonnes across six integrated abattoirs and meat processing plants

Management Commentary

Management highlighted operational resilience and strategic business stability despite dynamic global trade environment, fluctuations in commodity prices, changing consumer demand patterns, and evolving regulatory conditions. The company maintained strong market presence through diversified product portfolio, robust export network, and integrated manufacturing infrastructure.

Growth Strategy Focus Areas

  • Enhancing operational efficiencies across all business verticals
  • Strengthening export relationships in existing and emerging international markets
  • Maintaining globally recognized food safety, quality, and environmental standards
  • Expanding value-added and diversified product offerings
  • Improving supply chain efficiencies and cost optimization measures
  • Investing in infrastructure, technology, and sustainability initiatives
  • Capacity optimization and geographic expansion

Risk Factors Mentioned

  • Export regulations and policies
  • Currency volatility
  • Supply chain disruptions
  • Livestock availability