HMA Agro Industries Ltd

NSE: HMAAGRO · Meat Products including Poultry · sector

₹23.38NSE close 2026-10-26

Key numbers

Market cap₹1,171 cr

Price₹23.38

52w high / low₹34 / ₹19

P/E5.5xSector median 7.9x

P/B1.2xSector median 1.3x

Book value₹18.8

Dividend yield1.28%Sector median 0.63%

ROE24.8%Sector median 20.1%

ROCE17.7%Sector median 23.6%

OPM2.1%Sector median 9.9%

Debt / equity0.90xSector median 0.36x

EV/EBITDA10.9xSector median 7.6x

Interest cover8.2x

Current ratio1.26x

Sales growth 3y+29.2%Sector median +5.1%

Profit growth 3y+10.1%Sector median +10.1%

PEG–

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 6 companies in Meat Products including Poultry (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹246 cr vs borrowings ₹850 cr (FY26): borrowings are higher by ₹605 cr.
Borrowings rose in each of the last 3 years (₹343 cr → ₹850 cr).
Operating profit covered interest 8.2x in the last 12 months.
Promoter holding fell by 6.63 percentage points in a year, to 75.00% (2026-09-30).
Operating cash flow was below net profit in 2 of the last 4 years (FY26, FY24).
Revenue was higher than a year earlier in 4 of the last 4 quarters.
Other income was 86% of net profit in the last 12 months.
Debtor days went from 37 (FY24) to 1 (FY26).
Dividend paid in 3 of the last 4 financial years.
Price ₹23.38 on 2026-10-26: -31.7% from the 52-week high, +22.5% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹49.01 · low ₹20.02

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	1,466	1,455	1,500	1,123	2,155	2,059	1,579	2,110
EBITDA	58	32	5	5	95	64	-6	9
OPM %	3.9%	2.2%	0.3%	0.5%	4.4%	3.1%	-0.4%	0.4%
Other income	12	26	33	11	36	41	37	72
Net profit	52	20	13	1	90	66	8	51
EPS (₹)	1.04	0.41	0.26	0.02	1.79	1.32	0.16	1.01
Revenue YoY					+47.0%	+41.5%	+5.3%	+88.0%
Profit YoY					+72.8%	+226.4%	-39.8%	+6,158.0%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY23	FY24	FY25	FY26	TTM
Revenue	3,209	4,813	5,133	6,916	7,904
EBITDA	155	133	102	159	163
Net profit	123	101	87	165	215
EPS (₹)	25.34	2.03	1.75	3.29	4.28
Revenue growth		+50.0%	+6.6%	+34.7%	+42.6%
Profit growth		-18.5%	-13.8%	+89.9%	+148.9%
Dividend / share (₹)	–	3.00	0.30	0.30

Compounded growth	3 years	5 years	Last 12 months
Sales	+29.2%	–	+42.6%
Net profit	+10.1%	–	+148.9%
EPS	-49.4%	–	–
Share price	–	-26.3% (2y)	-19.6%

Balance sheet

₹ cr	FY23	FY24	FY25	FY26
Shareholders' equity	474	717	789	941
Borrowings	343	489	533	850
Cash & equivalents	74	115	94	246
Total assets	999	1,439	1,710	2,413
Fixed assets	260	294	270	259
Capital work in progress	58	36	47	61
Investments	0	0	0	0
Receivables	298	482	151	24
Inventory	129	240	670	1,331
Payables	87	136	99	127

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY23	FY24	FY25	FY26
Cash from operations	136	-166	124	-85
Cash from investing	-83	-56	-150	-141
Cash from financing	-3	268	5	267
Capex	109	38	22	36
Free cash flow	27	-204	103	-120

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY23	FY24	FY25	FY26
ROE %	26.0%	14.0%	11.0%	17.5%
ROCE %	22.6%	12.2%	11.3%	14.1%
Debtor days	34	37	11	1
Inventory days	19	22	56	80
Payable days	13	12	8	8
Cash conversion cycle (days)	40	47	59	73
Working capital days	14	23	18	20

Shareholding

Holder	% (2026-09-30)
Promoters	75.00%
FIIs	1.69%
DIIs	2.74%
of which Mutual funds	0.00%
of which Insurance	0.00%
Government	0.00%
Public (non-institutions)	20.58%

Quarter	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Apr 2026	Jun 2026	Sep 2026
Promoters %	83.61%	81.63%	81.63%	81.63%	81.63%	75.00%	75.00%	75.00%

Promoter group	%
Zulfiqar Ahmad Qurashi	17.01%
Mohammad Ashraf Qureshi	17.01%
Mohammad Mehmood Qureshi	17.01%
Gulzar Ahmad	12.16%
Mohd Kamil Qureshi	8.50%
Parvez Alam	3.31%
Gulzeb Ahmed	0.00%
Wajid Ahmed	0.00%

Public holders above 1%	%
Rajasthan Global Securities Private Limited	2.40%
Expertpro Realty Private Limited	1.86%

67,158 shareholders. Pledged: – of promoter shares.

Peers in Meat Products including Poultry

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
VENKEYS	₹2,275 cr	13.1x	1.4x	11.1%	14.2%	6.0%	-5.4%	0.63%
HMAAGRO	₹1,171 cr	5.5x	1.2x	24.8%	17.7%	2.1%	+29.2%	1.28%
SKMEGGPROD	₹964 cr	8.7x	2.4x	31.9%	29.6%	21.0%	+5.1%	0.41%
OVOBELE	₹276 cr	7.1x	2.5x	39.6%	39.0%	14.9%	+5.1%	–
ZAPPFRESH	₹70 cr	6.9x	0.8x	15.3%	32.1%	13.9%	–	–
SIMRAN	₹68 cr	13.6x	1.2x	10.5%	10.6%	1.3%	+33.6%	–

All 6 companies in Meat Products including Poultry →

Dividends & corporate actions

Ex-date	Action	Detail
2025-08-22	Dividend	Dividend - Re 0.30 Per Share
2024-09-20	Dividend	Annual General Meeting/Dividend - Re 0.30 Per Share
2023-12-29	Split	Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share
2023-09-15	Dividend	Annual General Meeting/Dividend - Rs 3 Per Share

Documents

Links go to the original files on the exchange website.

About the company

Slaughtering, Processing & Rendering of Frozen buffalo Meat: Meat & Meat products
Other Trading: Fish & Rice


Sector	Fast Moving Consumer Goods
Industry	Meat Products including Poultry
Sub-industry	Meat Products including Poultry
Symbol	HMAAGRO
BSE code	543929
ISIN	INE0ECP01024
Face value	₹1.0
Incorporated	2008-04-09
Website	www.hmagroup.co
Plants (India / abroad)	1 / 0

From the company's filings (BRSR FY26).

Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.