HMA Agro Industries Ltd.

•

₹ 21.970.14%

2026-08-21

hmagroup.coBSE: 543929NSE: HMAAGRO

Market Cap₹ 1,097 Cr.

Current Price₹ 22

High / Low₹ 34 / 20

Stock P/E5.1

Book Value₹ 20

Price to Book1.78

Dividend Yield0.00 %

ROCE12.1 %

ROE11.6 %

Face Value₹ 1

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ABOUT

KEY POINTS

PROS

Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 16.7% CAGR over last 5 years
Working capital cycle has improved - days down from 23 to 18
Company converts assets efficiently - asset turnover of 3.3x

CONS

A large part of profit comes from other income (64.8% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.30x)
Operating margins have contracted to 2.1% from 5.8%
Inventory has been piling up - inventory days up from 14 to 32
Growth is decelerating - 3Y profit CAGR (-9.0%) trails the 5Y trend (13.8%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Fast Moving Consumer GoodsFMCGConsumer Food

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	NESTLEIND	1469.90	74.37	283442.92	0.82	9586.80	1382.67	63781.80	1157.04	98.35	23.86
2.	VBL	432.75	43.23	146376.17	0.35	1525.36	15.08	8650.57	20.77	20.73	27.04
3.	BRITANNIA	5410.00	50.04	130309.75	1.67	593.38	14.08	4999.97	10.26	56.48	16.77
4.	JUBLFOOD	495.90	75.40	32721.72	0.24	100.03	6.03	2569.65	13.66	25.56	19.77
5.	HATSUN	931.75	59.58	20754.57	1.72	60.58	—	2363.72	17.61	14.60	10.81
6.	DEVYANI	142.85	0.00	17612.54	0.00	171.04	7576.84	15805.16	1064.74	8.98	16.09
7.	ZYDUSWELL	492.95	83.34	15683.73	0.24	118.90	-7.04	1437.00	67.54	4.42	16.82
8.	MILKYMIST	199.55	120.95	15362.23	0.00	—	—	—	—	13.79	—
9.	BIKAJI	609.25	59.09	15276.12	0.21	59.47	1.62	734.26	15.26	21.65	13.48
10.	LTFOODS	429.90	23.31	14928.40	0.70	183.45	8.87	3151.83	27.92	21.42	11.26
11.	MANORAMA	1924.70	49.26	12149.17	0.04	786.58	1575.54	4040.06	1295.28	19.70	26.29
12.	HMAAGRO	21.91	5.11	1097.19	0.00	50.51	8361.31	2110.32	87.98	12.06	0.44

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	971	1,200	1,252	1,390	713	1,466	1,455	1,500	1,123	2,155	2,059	1,579	2,110
	908	1,177	1,203	1,393	705	1,408	1,423	1,495	1,117	2,060	1,995	1,585	2,120
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	9	5	27	8	10	12	26	33	11	36	41	37	72
Interest	4	3	4	3	3	4	8	8	8	6	9	11	12
Depreciation	10	9	10	6	8	8	9	9	7	8	8	8	7
	59	16	62	-4	6	58	41	21	1	117	88	11	63
Tax %	24.94%	65.05%	21.10%	136.58%	87.24%	7.53%	48.66%	40.71%	58.45%	23.27%	24.21%	28.27%	19.19%
Net Profit	0	0	0	0	1	53	21	12	1	90	67	8	51
	1	2	1	0	0	1	0	0	0	2	1	0	0
Equity Capital	50	50	50	50	50	50	50	50	50	50	50	50	50
Reserves	471	620	666	667	668	705	726	739	739	814	881	891	942
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	50	50	50	50	50	50	50	50	50	50	50	50	50
Reserves	471	620	666	667	668	705	726	739	739	814	881	891	942
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 971
: 908
Operating Profit: —
OPM %: —
Other Income: 9
Interest: 4
Depreciation: 10
: 59
Tax %: 24.94%
Net Profit: 0
: 1
Equity Capital: 50
Reserves: 471
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 471
Promoter Pledge %: 0.00%

Sep 2023

: 1,200
: 1,177
Operating Profit: —
OPM %: —
Other Income: 5
Interest: 3
Depreciation: 9
: 16
Tax %: 65.05%
Net Profit: 0
: 2
Equity Capital: 50
Reserves: 620
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 620
Promoter Pledge %: 0.00%

Dec 2023

: 1,252
: 1,203
Operating Profit: —
OPM %: —
Other Income: 27
Interest: 4
Depreciation: 10
: 62
Tax %: 21.10%
Net Profit: 0
: 1
Equity Capital: 50
Reserves: 666
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 666
Promoter Pledge %: 0.00%

Mar 2024

: 1,390
: 1,393
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 3
Depreciation: 6
: -4
Tax %: 136.58%
Net Profit: 0
: 0
Equity Capital: 50
Reserves: 667
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 667
Promoter Pledge %: 0.00%

Jun 2024

: 713
: 705
Operating Profit: —
OPM %: —
Other Income: 10
Interest: 3
Depreciation: 8
: 6
Tax %: 87.24%
Net Profit: 1
: 0
Equity Capital: 50
Reserves: 668
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 668
Promoter Pledge %: 0.00%

Sep 2024

: 1,466
: 1,408
Operating Profit: —
OPM %: —
Other Income: 12
Interest: 4
Depreciation: 8
: 58
Tax %: 7.53%
Net Profit: 53
: 1
Equity Capital: 50
Reserves: 705
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 705
Promoter Pledge %: 0.00%

Dec 2024

: 1,455
: 1,423
Operating Profit: —
OPM %: —
Other Income: 26
Interest: 8
Depreciation: 9
: 41
Tax %: 48.66%
Net Profit: 21
: 0
Equity Capital: 50
Reserves: 726
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 726
Promoter Pledge %: 0.00%

Mar 2025

: 1,500
: 1,495
Operating Profit: —
OPM %: —
Other Income: 33
Interest: 8
Depreciation: 9
: 21
Tax %: 40.71%
Net Profit: 12
: 0
Equity Capital: 50
Reserves: 739
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 739
Promoter Pledge %: 0.00%

Jun 2025

: 1,123
: 1,117
Operating Profit: —
OPM %: —
Other Income: 11
Interest: 8
Depreciation: 7
: 1
Tax %: 58.45%
Net Profit: 1
: 0
Equity Capital: 50
Reserves: 739
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 739
Promoter Pledge %: 0.00%

Sep 2025

: 2,155
: 2,060
Operating Profit: —
OPM %: —
Other Income: 36
Interest: 6
Depreciation: 8
: 117
Tax %: 23.27%
Net Profit: 90
: 2
Equity Capital: 50
Reserves: 814
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 814
Promoter Pledge %: 0.00%

Dec 2025

: 2,059
: 1,995
Operating Profit: —
OPM %: —
Other Income: 41
Interest: 9
Depreciation: 8
: 88
Tax %: 24.21%
Net Profit: 67
: 1
Equity Capital: 50
Reserves: 881
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 881
Promoter Pledge %: 0.00%

Mar 2026

: 1,579
: 1,585
Operating Profit: —
OPM %: —
Other Income: 37
Interest: 11
Depreciation: 8
: 11
Tax %: 28.27%
Net Profit: 8
: 0
Equity Capital: 50
Reserves: 891
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 891
Promoter Pledge %: 0.00%

Jun 2026

: 2,110
: 2,120
Operating Profit: —
OPM %: —
Other Income: 72
Interest: 12
Depreciation: 7
: 63
Tax %: 19.19%
Net Profit: 51
: 0
Equity Capital: 50
Reserves: 942
Promoter Pledge %: 0.00%
Equity Capital: 50
Reserves: 942
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	2,742	2,373	1,707	3,083	3,209	4,813	5,133	7,904
	2,720	2,336	1,608	2,959	3,052	4,677	5,027	7,760
Operating Profit	64	80	112	180	204	185	187	—
OPM %	2	3	7	6	6	4	4	—
Other Income	42	44	13	56	47	49	81	185
Interest	6	8	6	10	13	17	27	39
Depreciation	10	10	8	11	18	35	35	31
	49	62	97	159	174	133	126	279
Tax %	36	26	27	27	29	24	30	23
Net Profit	31	46	72	116	123	101	88	215
EPS	7	10	15	24	3	2	2	—
Dividend Payout %	1	0	0	0	12	15	17	—
Minority Interest	-0	0	0	-2	-3	0	-1	-0
Share of Associates	0	0	0	0	0	0	0	0
Adjusted EPS	1	1	2	2	3	2	2	—
Minority Interest	-0	0	0	-2	-3	0	-1	-0
Share of Associates	0	0	0	0	0	0	0	0
Adjusted EPS	1	1	2	2	3	2	2	—

Mar 2019

: 2,742
: 2,720
Operating Profit: 64
OPM %: 2
Other Income: 42
Interest: 6
Depreciation: 10
: 49
Tax %: 36
Net Profit: 31
EPS: 7
Dividend Payout %: 1
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 1

Mar 2020

: 2,373
: 2,336
Operating Profit: 80
OPM %: 3
Other Income: 44
Interest: 8
Depreciation: 10
: 62
Tax %: 26
Net Profit: 46
EPS: 10
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2021

: 1,707
: 1,608
Operating Profit: 112
OPM %: 7
Other Income: 13
Interest: 6
Depreciation: 8
: 97
Tax %: 27
Net Profit: 72
EPS: 15
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2022

: 3,083
: 2,959
Operating Profit: 180
OPM %: 6
Other Income: 56
Interest: 10
Depreciation: 11
: 159
Tax %: 27
Net Profit: 116
EPS: 24
Dividend Payout %: 0
Minority Interest: -2
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: -2
Share of Associates: 0
Adjusted EPS: 2

Mar 2023

: 3,209
: 3,052
Operating Profit: 204
OPM %: 6
Other Income: 47
Interest: 13
Depreciation: 18
: 174
Tax %: 29
Net Profit: 123
EPS: 3
Dividend Payout %: 12
Minority Interest: -3
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: -3
Share of Associates: 0
Adjusted EPS: 3

Mar 2024

: 4,813
: 4,677
Operating Profit: 185
OPM %: 4
Other Income: 49
Interest: 17
Depreciation: 35
: 133
Tax %: 24
Net Profit: 101
EPS: 2
Dividend Payout %: 15
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2025

: 5,133
: 5,027
Operating Profit: 187
OPM %: 4
Other Income: 81
Interest: 27
Depreciation: 35
: 126
Tax %: 30
Net Profit: 88
EPS: 2
Dividend Payout %: 17
Minority Interest: -1
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: -1
Share of Associates: 0
Adjusted EPS: 2

TTM

: 7,904
: 7,760
Operating Profit: —
OPM %: —
Other Income: 185
Interest: 39
Depreciation: 31
: 279
Tax %: 23
Net Profit: 215
EPS: —
Dividend Payout %: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 17%
3 Years:: 19%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 14%
3 Years:: -9%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -30%
1 Year:: -30%

RETURN ON EQUITY

10 Years:: —
5 Years:: 25%
3 Years:: 19%
Last Year:: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-
Equity Capital	4	4	4	48	48	50	50
	138	183	255	327	427	667	739
	132	169	176	268	288	448	506
Trade Payables	254	39	68	79	87	136	99
	20	74	67	131	141	126	310
Total Liabilities	548	469	570	853	991	1,428	1,704
ASSETS	-	-	-	-	-	-	-
	84	95	93	141	261	295	272
Capital Work in Progress	0	2	14	92	58	36	47
	94	157	127	137	129	240	670
	0	0	0	0	0	482	151
Cash & Bank	7	39	52	44	74	115	94
	363	176	286	440	470	260	470
Total Assets	548	469	570	853	991	1,428	1,704
Total Debt	132	169	181	330	343	489	533
Net Working Capital	46	69	83	128	124	303	253
Contingent Liabilities	0	5	5	28	32	251	42
Book Value per Share	379.54	501.88	694.11	78.81	99.82	14.32	15.75
Face Value	10.00	10.00	10.00	10.00	10.00	1.00	1.00
Total Debt	132	169	181	330	343	489	533
Net Working Capital	46	69	83	128	124	303	253
Contingent Liabilities	0	5	5	28	32	251	42
Book Value per Share	379.54	501.88	694.11	78.81	99.82	14.32	15.75
Face Value	10.00	10.00	10.00	10.00	10.00	1.00	1.00

Mar 2019

Equity Capital: 4
: 138
: 132
Trade Payables: 254
: 20
Total Liabilities: 548
: 84
Capital Work in Progress: 0
: 94
: 0
Cash & Bank: 7
: 363
Total Assets: 548
Total Debt: 132
Net Working Capital: 46
Contingent Liabilities: 0
Book Value per Share: 379.54
Face Value: 10.00
Total Debt: 132
Net Working Capital: 46
Contingent Liabilities: 0
Book Value per Share: 379.54
Face Value: 10.00

Mar 2020

Equity Capital: 4
: 183
: 169
Trade Payables: 39
: 74
Total Liabilities: 469
: 95
Capital Work in Progress: 2
: 157
: 0
Cash & Bank: 39
: 176
Total Assets: 469
Total Debt: 169
Net Working Capital: 69
Contingent Liabilities: 5
Book Value per Share: 501.88
Face Value: 10.00
Total Debt: 169
Net Working Capital: 69
Contingent Liabilities: 5
Book Value per Share: 501.88
Face Value: 10.00

Mar 2021

Equity Capital: 4
: 255
: 176
Trade Payables: 68
: 67
Total Liabilities: 570
: 93
Capital Work in Progress: 14
: 127
: 0
Cash & Bank: 52
: 286
Total Assets: 570
Total Debt: 181
Net Working Capital: 83
Contingent Liabilities: 5
Book Value per Share: 694.11
Face Value: 10.00
Total Debt: 181
Net Working Capital: 83
Contingent Liabilities: 5
Book Value per Share: 694.11
Face Value: 10.00

Mar 2022

Equity Capital: 48
: 327
: 268
Trade Payables: 79
: 131
Total Liabilities: 853
: 141
Capital Work in Progress: 92
: 137
: 0
Cash & Bank: 44
: 440
Total Assets: 853
Total Debt: 330
Net Working Capital: 128
Contingent Liabilities: 28
Book Value per Share: 78.81
Face Value: 10.00
Total Debt: 330
Net Working Capital: 128
Contingent Liabilities: 28
Book Value per Share: 78.81
Face Value: 10.00

Mar 2023

Equity Capital: 48
: 427
: 288
Trade Payables: 87
: 141
Total Liabilities: 991
: 261
Capital Work in Progress: 58
: 129
: 0
Cash & Bank: 74
: 470
Total Assets: 991
Total Debt: 343
Net Working Capital: 124
Contingent Liabilities: 32
Book Value per Share: 99.82
Face Value: 10.00
Total Debt: 343
Net Working Capital: 124
Contingent Liabilities: 32
Book Value per Share: 99.82
Face Value: 10.00

Mar 2024

Equity Capital: 50
: 667
: 448
Trade Payables: 136
: 126
Total Liabilities: 1,428
: 295
Capital Work in Progress: 36
: 240
: 482
Cash & Bank: 115
: 260
Total Assets: 1,428
Total Debt: 489
Net Working Capital: 303
Contingent Liabilities: 251
Book Value per Share: 14.32
Face Value: 1.00
Total Debt: 489
Net Working Capital: 303
Contingent Liabilities: 251
Book Value per Share: 14.32
Face Value: 1.00

Mar 2025

Equity Capital: 50
: 739
: 506
Trade Payables: 99
: 310
Total Liabilities: 1,704
: 272
Capital Work in Progress: 47
: 670
: 151
Cash & Bank: 94
: 470
Total Assets: 1,704
Total Debt: 533
Net Working Capital: 253
Contingent Liabilities: 42
Book Value per Share: 15.75
Face Value: 1.00
Total Debt: 533
Net Working Capital: 253
Contingent Liabilities: 42
Book Value per Share: 15.75
Face Value: 1.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	23	20	75	-32	136	-166	124
Cash from Investing	-8	-19	-70	-144	-83	-56	-150
Cash from Financing	-12	31	8	142	-3	268	5
	3	32	13	-33	50	46	-21
Free Cash Flow	23	-2	58	-169	32	-210	102
OCF / Net Profit	0.72	0.45	1.05	-0.27	1.10	-1.65	1.42
Cumulative 5-Year FCF	0	0	0	0	0	-290	-186
OCF / Net Profit	0.72	0.45	1.05	-0.27	1.10	-1.65	1.42
Cumulative 5-Year FCF	0	0	0	0	0	-290	-186

Mar 2019

: 23
Cash from Investing: -8
Cash from Financing: -12
: 3
Free Cash Flow: 23
OCF / Net Profit: 0.72
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.72
Cumulative 5-Year FCF: 0

Mar 2020

: 20
Cash from Investing: -19
Cash from Financing: 31
: 32
Free Cash Flow: -2
OCF / Net Profit: 0.45
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.45
Cumulative 5-Year FCF: 0

Mar 2021

: 75
Cash from Investing: -70
Cash from Financing: 8
: 13
Free Cash Flow: 58
OCF / Net Profit: 1.05
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.05
Cumulative 5-Year FCF: 0

Mar 2022

: -32
Cash from Investing: -144
Cash from Financing: 142
: -33
Free Cash Flow: -169
OCF / Net Profit: -0.27
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.27
Cumulative 5-Year FCF: 0

Mar 2023

: 136
Cash from Investing: -83
Cash from Financing: -3
: 50
Free Cash Flow: 32
OCF / Net Profit: 1.10
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.10
Cumulative 5-Year FCF: 0

Mar 2024

: -166
Cash from Investing: -56
Cash from Financing: 268
: 46
Free Cash Flow: -210
OCF / Net Profit: -1.65
Cumulative 5-Year FCF: -290
OCF / Net Profit: -1.65
Cumulative 5-Year FCF: -290

Mar 2025

: 124
Cash from Investing: -150
Cash from Financing: 5
: -21
Free Cash Flow: 102
OCF / Net Profit: 1.42
Cumulative 5-Year FCF: -186
OCF / Net Profit: 1.42
Cumulative 5-Year FCF: -186

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-	-	-
EPS (₹)	83.62	123.18	192.11	24.15	25.34	2.01	1.73
Book Value (₹)	379.54	501.88	694.11	78.81	99.82	14.32	15.75
Dividend per Share (₹)	0.70	0.00	0.00	0.00	3.00	0.30	0.30
Cash EPS (₹)	0.87	1.18	1.68	2.68	2.97	2.70	2.44
PROFITABILITY	-	-	-	-	-	-	-
Operating Margin %	2.35%	3.39%	6.57%	5.82%	6.37%	2.83%	2.05%
Net Margin %	1.14%	1.93%	4.19%	3.78%	3.84%	2.09%	1.71%
ROE %	22.03%	27.94%	32.12%	36.79%	29.09%	16.88%	11.64%
ROCE %	19.91%	22.38%	26.09%	29.51%	24.55%	14.87%	12.06%
	5.69%	9.03%	13.78%	16.36%	13.39%	8.32%	5.60%
EFFICIENCY	-	-	-	-	-	-	-
Debtor Days	38	31	29	26	33	30	22
Inventory Days	12	19	30	16	15	14	32
Payable Days	40	28	14	11	12	10	10
	11	22	45	31	36	33	45
FINANCIAL HEALTH	-	-	-	-	-	-	-
Debt to Equity (x)	0.93x	0.90x	0.70x	0.88x	0.72x	0.68x	0.68x
Interest Coverage (x)	9.81x	8.54x	16.16x	16.47x	14.06x	8.69x	5.68x
	1.11x	1.24x	1.27x	1.31x	1.27x	1.45x	1.29x
GROWTH	-	-	-	-	-	-	-
Revenue Growth %	0.00%	-13.47%	-28.04%	80.57%	4.09%	49.98%	6.64%
Operating Profit Growth %	0.00%	24.93%	39.40%	60.02%	13.90%	-9.40%	0.92%
Net Profit Growth %	0.00%	47.27%	55.99%	62.69%	5.99%	-18.53%	-12.82%
	0.00%	0.00%	0.00%	0.00%	0.00%	-92.07%	-13.77%
VALUATION	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	25.40x	16.18x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	3.56x	1.78x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.59%	1.07%
	0.00x	0.00x	0.00x	0.00x	0.00x	15.82x	9.86x

Mar 2019

EPS (₹): 83.62
Book Value (₹): 379.54
Dividend per Share (₹): 0.70
Cash EPS (₹): 0.87
Operating Margin %: 2.35%
Net Margin %: 1.14%
ROE %: 22.03%
ROCE %: 19.91%
: 5.69%
Debtor Days: 38
Inventory Days: 12
Payable Days: 40
: 11
Debt to Equity (x): 0.93x
Interest Coverage (x): 9.81x
: 1.11x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 123.18
Book Value (₹): 501.88
Dividend per Share (₹): 0.00
Cash EPS (₹): 1.18
Operating Margin %: 3.39%
Net Margin %: 1.93%
ROE %: 27.94%
ROCE %: 22.38%
: 9.03%
Debtor Days: 31
Inventory Days: 19
Payable Days: 28
: 22
Debt to Equity (x): 0.90x
Interest Coverage (x): 8.54x
: 1.24x
Revenue Growth %: -13.47%
Operating Profit Growth %: 24.93%
Net Profit Growth %: 47.27%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 192.11
Book Value (₹): 694.11
Dividend per Share (₹): 0.00
Cash EPS (₹): 1.68
Operating Margin %: 6.57%
Net Margin %: 4.19%
ROE %: 32.12%
ROCE %: 26.09%
: 13.78%
Debtor Days: 29
Inventory Days: 30
Payable Days: 14
: 45
Debt to Equity (x): 0.70x
Interest Coverage (x): 16.16x
: 1.27x
Revenue Growth %: -28.04%
Operating Profit Growth %: 39.40%
Net Profit Growth %: 55.99%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 24.15
Book Value (₹): 78.81
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.68
Operating Margin %: 5.82%
Net Margin %: 3.78%
ROE %: 36.79%
ROCE %: 29.51%
: 16.36%
Debtor Days: 26
Inventory Days: 16
Payable Days: 11
: 31
Debt to Equity (x): 0.88x
Interest Coverage (x): 16.47x
: 1.31x
Revenue Growth %: 80.57%
Operating Profit Growth %: 60.02%
Net Profit Growth %: 62.69%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 25.34
Book Value (₹): 99.82
Dividend per Share (₹): 3.00
Cash EPS (₹): 2.97
Operating Margin %: 6.37%
Net Margin %: 3.84%
ROE %: 29.09%
ROCE %: 24.55%
: 13.39%
Debtor Days: 33
Inventory Days: 15
Payable Days: 12
: 36
Debt to Equity (x): 0.72x
Interest Coverage (x): 14.06x
: 1.27x
Revenue Growth %: 4.09%
Operating Profit Growth %: 13.90%
Net Profit Growth %: 5.99%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 2.01
Book Value (₹): 14.32
Dividend per Share (₹): 0.30
Cash EPS (₹): 2.70
Operating Margin %: 2.83%
Net Margin %: 2.09%
ROE %: 16.88%
ROCE %: 14.87%
: 8.32%
Debtor Days: 30
Inventory Days: 14
Payable Days: 10
: 33
Debt to Equity (x): 0.68x
Interest Coverage (x): 8.69x
: 1.45x
Revenue Growth %: 49.98%
Operating Profit Growth %: -9.40%
Net Profit Growth %: -18.53%
: -92.07%
P/E (x): 25.40x
P/B (x): 3.56x
Dividend Yield %: 0.59%
: 15.82x

Mar 2025

EPS (₹): 1.73
Book Value (₹): 15.75
Dividend per Share (₹): 0.30
Cash EPS (₹): 2.44
Operating Margin %: 2.05%
Net Margin %: 1.71%
ROE %: 11.64%
ROCE %: 12.06%
: 5.60%
Debtor Days: 22
Inventory Days: 32
Payable Days: 10
: 45
Debt to Equity (x): 0.68x
Interest Coverage (x): 5.68x
: 1.29x
Revenue Growth %: 6.64%
Operating Profit Growth %: 0.92%
Net Profit Growth %: -12.82%
: -13.77%
P/E (x): 16.18x
P/B (x): 1.78x
Dividend Yield %: 1.07%
: 9.86x

Shareholding Pattern

Numbers in percentages

TRADES

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	83.61	83.61	83.61	81.63	81.63	81.63	81.63	75.00
	5.76	5.33	5.24	6.73	5.85	4.92	4.87	4.84
	0.00	0.00	0.02	0.11	0.13	0.14	0.20	0.83
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	10.62	11.05	11.13	11.53	12.40	13.32	13.30	19.33

Sep 2024

: 83.61
: 5.76
: 0.00
Government: 0.00
: 10.62

Dec 2024

: 83.61
: 5.33
: 0.00
Government: 0.00
: 11.05

Mar 2025

: 83.61
: 5.24
: 0.02
Government: 0.00
: 11.13

Jun 2025

: 81.63
: 6.73
: 0.11
Government: 0.00
: 11.53

Sep 2025

: 81.63
: 5.85
: 0.13
Government: 0.00
: 12.40

Dec 2025

: 81.63
: 4.92
: 0.14
Government: 0.00
: 13.32

Mar 2026

: 81.63
: 4.87
: 0.20
Government: 0.00
: 13.30

Jun 2026

: 75.00
: 4.84
: 0.83
Government: 0.00
: 19.33

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-17 - Hma Agro Industries Limited has informed the Exchange about Transcript
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-14 - Hma Agro Industries Limited has informed the Exchange about Link of Recording

Annual Reports

Credit Ratings

Credit Rating
2026-07-17 - Hma Agro Industries Limited has informed the Exchange about Credit Rating
Credit Rating
2026-06-24 - Hma Agro Industries Limited has informed the Exchange about Credit Rating

Concalls

Aug 2026
Transcript PPTREC
Jun 2026
TranscriptPPTREC
May 2026
TranscriptPPTREC