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    HMA Agro Industries Q1 FY27 earnings call

    HMAAGRO
    Fast Moving Consumer Goods·14 Aug 2026
    Management Summary

    HMA Agro Industries Limited delivered a strong Q1 FY27 performance, marked by significant growth in both revenue and profitability. Consolidated revenue surged 88% YoY to INR 2,110.32 crores, while EBITDA saw a remarkable 388% YoY increase to INR 81.05 crores. The company's focus on operational efficiency and market expansion contributed to substantial margin improvements. Management highlighted the core buffalo product export business as the main revenue driver and noted early-stage exploration of the pet food market.

    Highlights

    5

    • Consolidated Revenue of INR 2,110.32 crores, up 88% YoY, demonstrating strong top-line growth.

    • Consolidated EBITDA of INR 81.05 crores, up 388% YoY, reflecting significant operating leverage.

    • Consolidated PAT of INR 50.51 crores, a substantial increase from INR 0.6 crore in Q1 last year, indicating improved profitability.

    • Consolidated EBITDA margin improved to 3.8% from 1.48% in Q1 last year.

    • Standalone PAT grew 345% YoY to INR 31.91 crores, showcasing robust standalone performance.

    Key financials

    Single quarter

    06 metrics
    1. 01Consolidated Revenue₹2,110.32 Cr+88%YoY
    2. 02Consolidated EBITDA₹81.05 Cr+3.9%YoY
    3. 03Consolidated EBITDA Margin3.8%
    4. 04Consolidated PAT₹50.51 Cr+83.2%YoY
    5. 05Consolidated PAT Margin2.4%

    What to watch in Q2 FY27

    3

    Revenue from Operations Breakup (Value & Volume)

    next quarter
    CurrentNot disclosed in call, deferred to offline discussion.
    TargetQuantified breakup of revenue growth into value and volume components.

    Why it matters

    Understanding the quality of revenue growth (volume vs. price) is essential for an FMCG company's long-term investment thesis.

    Regarding he is looking for the breakup, my team will make a separate follow-up with Mr. Banerjee because the call is a very for short time period, and we have to take another question, you know, on the replies also.

    0

    Q&A highlights

    4

    “Regarding other income, as he asked me about the other income, so this other income is the income as we all know, like, HMA is doing major chunk of his business from the export. With other income, we have earned basically from the foreign exchange gain. It also from the duty drawback, and also from the interest on the FDs what HMA will have with the certain banks.”

    Analyst sought clarification on the significant increase in other income, and management provided a breakdown of its sources.

    asked by Abin Banerjee

    2 min read6 chapters

    Detailed Narrative

    01

    Q1 FY27 Financial Performance Overview

    HMA Agro Industries Limited reported a strong start to FY2026-27, with consolidated revenue growing approximately 88% YoY to INR 2,110.32 crores. This was complemented by a substantial increase in consolidated EBITDA of approximately 388% YoY, reaching INR 81.05 crores. Profitability saw significant improvement, with consolidated PAT rising from INR 0.6 crore in Q1 last year to INR 50.51 crores, and consolidated PAT margin improving from 0.5% to 2.39%.

    02

    FY26 Full Year Performance as Foundation

    The company highlighted its strong full-year performance for FY2025-26, which laid a solid foundation for the current year. Standalone revenue increased approximately 39% to INR 6,769 crores, with standalone PAT growing approximately 100% to INR 127 crores. On a consolidated basis, revenue grew approximately 35% to INR 6,916 crores, and consolidated EBITDA increased approximately 88%, with margins improving from 3.57% to 4.11%.

    03

    Operational Focus and Strategic Direction

    Management emphasized its ongoing focus on assessing operations, improving efficiency, maintaining product quality, and expanding market presence. The company is committed to working on longer-term growth initiatives aimed at building a stronger and more diversified food business. This strategic approach is intended to create sustainable value for stakeholders while upholding strong governance standards.

    04

    Sources of Other Income

    In response to an analyst's query, management clarified that the increase in 'other income' primarily stems from foreign exchange gains, duty drawbacks, and interest earned on fixed deposits held with various banks. This indicates that a significant portion of the company's business involves export activities, leading to foreign exchange exposure.

    05

    Core Business and Revenue Drivers

    The company reiterated that the largest portion of its revenue from operations is generated from the export of buffalo products. This segment remains the main core business, driving the current growth momentum and overall revenue. Management indicated that while other areas are being explored, buffalo product exports are central to their financial performance.

    06

    Value-Added Products and Pet Food Market Exploration

    Management acknowledged that value-added products in their main segment are currently not receiving a good market response. However, they expressed optimism about the global pet food market, which is growing. HMA Agro is in the very initial stages of exploring this opportunity, with a dedicated research team working on product development, leveraging byproducts from existing operations to potentially increase exports and acquire new clients.

    This is an AI-generated summary of a publicly available earnings call transcript.