HMA Agro Industries Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript HMA Agro Industries Ltd filed with BSE on 02 Jun 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
HMA Agro Industries reported its strongest-ever standalone financial year for FY26, with standalone revenue rising approximately 39.2% YoY to INR 67,689 million and consolidated revenue up approximately 34.7% YoY to INR 69,164.95 million. Management attributed the growth to higher export earnings, expansion into new markets, new customer additions, and Malaysian regulatory approval for a subsidiary. Standalone EBITDA grew approximately 80.3% YoY and consolidated PAT rose to INR 1,651.86 million, while management also discussed rice business progress, plans to add French fries and chicken to the product portfolio, and the pricing rationale for a recent offer for sale.
Numbers mentioned
Standalone Revenue: INR 67,689 million (FY26)
p. 4
“our stand-alone revenue for the financial year 2025, ‘26 increased to INR 67,689 million as compared to INR 48,640 million in the last financial year, register a strong growth of approximately 39.2% YoY”
Gulzeb Ahmed, page 4 of the filed PDF · View the filing
Q4 Revenue: INR 15,384.83 million (Q4 FY26)
p. 4
“For the Q4 of FY2526, the revenue stood at the INR 15,384.83 million as compared to INR 14,368.2 million in the last quarter of last year, reflecting a healthy growth of approximately 4%”
Gulzeb Ahmed, page 4 of the filed PDF · View the filing
Standalone EBITDA: INR 2,109.5 million (FY26)
p. 4
“the stand-alone EBITDA grows significantly to INR 2,109.5 million during the FY2526, as compared to INR 1,170.2 million in last year, reflecting an impressive growth of approximately 80.3% YoY”
Gulzeb Ahmed, page 4 of the filed PDF · View the filing
Standalone EBITDA margin: 3.12% (FY26)
p. 4
“The EBITDA margin improved to 3.12% during the FY2526, as compared to approximately 2.4% in FY2425”
Gulzeb Ahmed, page 4 of the filed PDF · View the filing
Standalone Profit before tax: INR 1,718.5 million (FY26)
p. 4
“Profit before tax increased to INR 1,718.5 million during the FY2526 from INR 908.2 million in FY2425, representing a strong growth of approximately 89.2% YoY”
Gulzeb Ahmed, page 4 of the filed PDF · View the filing
Standalone Profit after tax: INR 1,271 million (FY26)
p. 4
“The profit after tax at INR 1,271 million as compared to INR 601 million in last financial year”
Gulzeb Ahmed, page 4 of the filed PDF · View the filing
Consolidated Revenue: INR 69,164.95 million (FY26)
p. 4
“The remaining consolidated revenue for the year 2025, ’26 stood at INR 69,164.95 million compared to INR 51,330.17”
Gulzeb Ahmed, page 4 of the filed PDF · View the filing
Consolidated EBITDA: INR 2,839.59 million (FY26)
p. 5
“Consolidated EBITDA is INR 2,839.59 million as compared to INR 1,834.9 million last year”
Gulzeb Ahmed, page 5 of the filed PDF · View the filing
Consolidated EBITDA margin: 4.11% (FY26)
p. 5
“The EBITDA margin improved to approximately 4.11% during the current year as compared to approximately 3.57% of last year”
Gulzeb Ahmed, page 5 of the filed PDF · View the filing
Consolidated Profit before tax: INR 2,177.43 million (FY26)
p. 5
“Profit before tax consolidated is INR 2,177.43 million as compared to 1,256.04 million in the last year, reflecting a strong growth of approximately 73.4% YoY”
Gulzeb Ahmed, page 5 of the filed PDF · View the filing
Consolidated Profit after tax: INR 1,651.86 million (FY26)
p. 5
“The profit after tax increased to INR 1,651.86 million during the financial year 2025, ‘26 as compared to the previous year's higher consolidated profit achieved by the company in the recent year”
Gulzeb Ahmed, page 5 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue — INR 1 billion · FY27
stated as an aspiration by Gulzeb Ahmed
p. 14
“We are working very hard to achieve this target as soon as possible before the target deadline, what we have said. And we hope we will achieve it very soon, and it will give us immense pleasure, to all our stakeholders, our team that we will be entering into the INR 1 billion organization.”
Gulzeb Ahmed, page 14 of the filed PDF · View the filing
Product portfolio expansion — French fries and chicken
stated as an aspiration by Gulzeb Ahmed
p. 15
“We are working on learning product, and we are also thinking to add French fries to our market. But it is very initial stage, very initial.”
Gulzeb Ahmed, page 15 of the filed PDF · View the filing
Export pricing
stated conditionally by Gulzeb Ahmed
p. 13
“So we will be having a room to increase our prices, and also when we have a good pricing in India, so we are able to produce more quantity, because we will get more demand from the market.”
Gulzeb Ahmed, page 13 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said the target was not achieved as the Philippines market only buys select product varieties, and they are working to expand demand there
Answered by Gulzeb Ahmed
Asked by Kapil Adwani: Whether the Philippines revenue target of 25% for buffalo meat sales was achieved in FY26
p. 9
“In the last year, the target we said for the Philippines was not achieved, but we are working very closely with our client base, and we were planning to go in more detail in the Philippine market to the industry.”
Gulzeb Ahmed, page 9 of the filed PDF · View the filing
Management said the main challenge is rising logistics and freight costs, which could pressure product pricing if the situation does not normalize
Answered by Gulzeb Ahmed
Asked by Kapil Adwani: How current geopolitical conditions in the Middle East are affecting operations
p. 10
“So, the only biggest challenge we are facing is the logistic and the prices of the freight.”
Gulzeb Ahmed, page 10 of the filed PDF · View the filing
Management cited weather conditions affecting livestock transport and seasonal harvesting affecting farmer pricing as key drivers
Answered by Gulzeb Ahmed
Asked by Kapil Adwani: What factors drive input cost inflation in buffalo procurement
p. 11
“So climate is there, and the cost of transportation is there. These are the factors which impact directly.”
Gulzeb Ahmed, page 11 of the filed PDF · View the filing
Management said the rice business is growing steadily with repeat orders but remains a small contributor to revenue
Answered by Gulzeb Ahmed
Asked by Kapil Adwani: Update on the rice business contribution and progress
p. 14
“It's a small one, and if I'm not wrong, I don’t have the perfect figure. I will ask my team to check it correctly and we will share with you.”
Gulzeb Ahmed, page 14 of the filed PDF · View the filing
Management said the floor price was decided by the board based on current market value and SEBI circular provisions allowing the seller to decide the price
Answered by Nikhil Sundrani
Asked by Kapil Adwani: What was the criteria for determining the OFS price of INR 18
p. 18
“Actually, it is decided as per the SEBI the circular. In SEBI circular, the definition of price is written as price decided by the seller. Seller can sell at any price.”
Nikhil Sundrani, page 18 of the filed PDF · View the filing
Risks flagged
Rising freight and logistics costs due to Middle East geopolitical situation
p. 10
“If this geopolitical situation does not normalized, sooner it will really give us very bad rate on our product pricing.”
Gulzeb Ahmed, page 10 of the filed PDF · View the filing
Weather conditions affecting livestock supply and input costs
p. 11
“It's weather also, because if we have bad weather condition, we have some very hot summer, it's really hard for the supplier to give any transportation, because they are worried about the health of their livestock.”
Gulzeb Ahmed, page 11 of the filed PDF · View the filing
Seasonal harvesting leading farmers to demand higher livestock prices
p. 11
“And also if there is a good seasonal harvesting, so farmer was restrict, and they asked for the more prices for their livestock.”
Gulzeb Ahmed, page 11 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.