Small FMCG

HMA Agro Industries Ltd.

HMAAGRO

₹33.12

-0.36% (-0.12)

Market Cap

₹1,669 Cr.

P/E

19.23

HMA Agro Industries Ltd.
Overview
Financials
Benchmarking
Shareholding

HMA Agro Industries Ltd.

HMA Agro Industries Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on HMA Agro Industries Ltd. Shareprice

Has the share price of HMA Agro Indus grown faster than its competition?

HMA Agro Indus has given lower returns compared to its competitors.
HMA Agro Indus has grown at ~-39.43% over the last 1yrs while peers have grown at a median rate of 2.98%

Is HMA Agro Indus stock expensive?

HMA Agro Indus is not expensive.
Latest PE of HMA Agro Indus is 19.23, while 3 year average PE is 27.71.
Also latest EV/EBITDA of HMA Agro Indus is 20.64 while 3yr average is 24.57.

View FAQ's On Business

Growth Table

HMA Agro Industries Ltd.
Venkys India
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	-39.43	—	—	—	—	—	—	—	—	—
TTM EPS CAGR	-13.63	—	—	—	—	—	—	—	—	—
Sales CAGR	6.64	26.47	—	—	—	—	—	—	—	—
PAT Margin (Abs Growth)	-1.76	-1.69	-2.10	0.15	0.95	—	—	—	—	—
PE CAGR	-29.87	—	—	—	—	—	—	—	—	—
CFO CAGR	-222	128	—	—	—	—	—	—	—	—

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

HMA Agro Industries Ltd.
Venkys India
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In Rs. Cr.	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	548	469	570	853	991	1,428	1,710
Non Current Assets	96.41	119	182	318	416	468	589
Net Block	84.12	95.30	92.54	141	261	295	271
Capital Work in Progress	0.14	1.61	13.64	91.64	57.84	35.53	46.64
Intangible Assets Under Development	—	—	—	—	—	—	—
Long Term Investments	—	—	—	—	—	—	—
Current Assets	453	354	390	538	583	972	1,121
Inventory	93.59	157	127	137	129	240	670
Accounts Receivable	289	117	157	290	298	482	151
Short Term Investments	—	—	—	—	—	—	—
Cash & Bank Balances	6.68	38.51	51.69	44.02	73.87	115	94.29
Liabilities	548	469	570	853	991	1,428	1,710
Shareholders Funds	141	187	259	374	474	717	789
Share Capital	3.73	3.73	3.73	47.51	47.51	50.08	50.08
Reserves	138	183	255	327	427	667	739
Non Current Liabilities	-0.58	-3.10	4.56	51.35	38.14	21.41	31.35
Secured Loans	—	—	5.03	52.16	42.25	28.30	—
Unsecured Loans	—	—	—	—	—	—	27.00
Current Liabilities	407	284	307	410	458	669	868
Accounts Payable	254	38.86	67.86	79.45	87.01	136	98.71
Short Term Loans	132	169	176	268	288	448	506

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

HMA Agro Industries Ltd.
Venkys India
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In Rs. Cr.	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	2,742	2,373	1,707	3,083	3,209	4,813	5,133
Operating Expenses	2,720	2,336	1,608	2,959	3,052	4,677	5,031
Raw Material	2,375	1,976	1,336	2,421	2,460	4,139	4,826
Material Cost (%)	84.02	80.58	80.02	78.22	76.92	83.66	85.66
Employee Cost	86.87	75.96	58.60	106	96.53	144	141
Power & Fuel Cost	49.51	42.20	28.69	59.96	59.61	76.39	—
Operating Profit	22.54	36.66	99.29	124	158	137	102
Other Income	41.88	43.82	12.90	55.78	46.87	48.68	81.36
OPM (%)	0.82	1.54	5.82	4.01	4.91	2.84	1.99
Depreciation and Amortisation	9.97	10.02	8.31	10.67	17.64	34.78	34.52
Interest	5.55	8.25	6.43	10.25	13.29	17.32	23.37
Profit Before Tax	48.90	62.22	97.45	159	174	133	126
Tax	17.73	16.32	25.85	42.13	50.09	32.57	37.91
Net Profit	31.16	45.91	71.60	115	120	101	87.69
Number of shares(Crs)	—	—	—	—	—	50.08	—
Dividend Payout Ratio(%)	0.84	0.00	0.00	0.00	11.84	14.93	—

TTM Values as of Mar 2025

Cash Flow

HMA Agro Industries Ltd.
Venkys India
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In Rs. Cr.	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	22.52	20.44	74.97	-31.96	136	-166	124
Profit Before Tax	48.90	62.22	97.45	159	174	133	126
Adjustments	-28.33	-23.53	4.34	-33.91	28.91	29.63	46.96
OCF Before Working Capital	20.57	38.68	102	125	202	163	173
Working Capital Changes	23.89	-4.86	2.56	-110	-17.14	-276	-0.76
Taxes Paid	-21.94	-13.38	-29.38	-46.65	-49.25	-52.24	-47.41
Cash from Investing Activity	-7.67	-19.20	-70.13	-144	-83.14	-56.33	-150
Net Fixed Assets Purchased	-8.44	-22.66	-17.48	-81.97	-109	-29.02	-21.33
Fixed Assets Purchased	-8.44	-22.66	-17.48	-81.97	-109	-38.01	-21.80
Fixed Assets Sold	—	—	—	—	—	9.00	0.47
Investment Purchased	-0.17	-7.28	-0.25	-77.08	—	-31.76	—
Investment Sold	—	3.06	—	—	20.18	—	—
Interest Recieved	0.94	0.40	0.80	2.05	6.41	4.45	0.02
Dividends Recieved	—	—	—	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—
Cash from Financing Activity	-12.06	30.59	8.33	142	-2.56	268	4.68
Proceeds From Shares	—	—	—	—	—	150	—
Net Long Term Borrowings	0.00	0.00	5.03	47.13	-6.66	-13.96	-14.15
Proceeds From Borrowings	—	—	5.03	47.13	—	—	—
Repayment From Borrowings	—	—	—	—	-6.66	-13.96	-14.15
Interest Paid	—	-6.35	-3.83	-5.60	-11.36	-11.23	-22.58
Dividend Paid	—	-0.26	—	—	-9.50	-15.02	-15.02
Net Cash Flow	2.79	31.83	13.17	-33.16	50.38	46.29	-20.91
Opening Cash & Cash Equivalents	3.89	6.68	38.51	51.69	18.53	68.90	115
Effect of FX	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	6.68	38.51	51.69	18.53	68.90	115	94.29
Net Capex (est)	8.44	22.66	17.48	81.97	109	29.02	21.33
Free Cash Flow (est)	14.08	-2.22	57.49	-114	27.25	-195	103

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

HMA Agro Industries Ltd.
Venkys India
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	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	0.88	0.69	0.86	0.98	0.99	1.09
Liquid Assets (Crs)	359	196	263	401	454	731
Current Liabilities (Crs)	407	284	307	410	458	669
Current Ratio	1.11	1.24	1.27	1.31	1.27	1.45
Current Assets (Crs)	453	354	390	538	583	972
Current Liabilities (Crs)	407	284	307	410	458	669
Interest Coverage Ratio	9.81	8.54	16.16	16.47	14.06	8.69
EBIT (Crs)	54.45	70.46	104	169	187	150
Interest Expenses (Crs)	5.55	8.25	6.43	10.25	13.29	17.32
Fixed Asset Turnover	29.26	20.65	14.25	17.27	10.15	12.58
Net Sales (Crs)	2,742	2,373	1,707	3,083	3,209	4,813
Fixed Assets (Crs)	93.71	115	120	178	316	382
Cash Conversion Cycle	10.60	22.46	45.32	30.87	36.19	33.41
Inventory Days	12.46	19.29	30.36	15.60	15.07	13.97
Days Receivable	38.41	31.14	29.21	26.42	33.42	29.56
Days Payable	40.27	27.97	14.25	11.15	12.31	10.12
Debt to Equity Ratio	0.93	0.90	0.70	0.88	0.72	0.68
Total Debt (Crs)	132	169	181	330	343	489
Shareholders Equity (Crs)	141	187	259	374	474	717
Free Cash Flow/Sales (%)	0.51	-0.09	3.37	-3.70	0.85	-4.05
Free Cash Flow(est) (Crs)	14.08	-2.22	57.49	-114	27.25	-195
Net Sales (Crs)	2,742	2,373	1,707	3,083	3,209	4,813
Profitability Ratios
Gross Margin (%)	15.98	19.42	19.98	21.78	23.08	16.34
Op Profit Margin (%)	0.82	1.54	5.82	4.01	4.91	2.84
Operating Profit (Crs)	64.42	80.48	112	180	204	185
Net Sales (Crs)	2,742	2,373	1,707	3,083	3,209	4,813
Net Profit Margin (%)	1.14	1.93	4.19	3.72	3.75	2.09
Net Profit (Crs)	31.16	45.91	71.60	115	120	101
Net Sales (Crs)	2,742	2,373	1,707	3,083	3,209	4,813
ROCE (%)	38.51	38.21	39.39	38.12	35.08	19.83
EBIT (Crs)	54.45	70.46	104	169	187	150
Capital Employed (Crs)	141	184	264	443	533	759
Return on Assets (%)	5.69	9.79	12.55	13.45	12.15	7.05
Net Profit (Crs)	31.16	45.91	71.60	115	120	101
Total Assets (Crs)	548	469	570	853	991	1,428
ROIC (%)	6.32	14.25	45.04	24.28	25.17	13.21
Op Profit after Taxes (Crs)	8.01	19.65	66.84	83.04	99.58	76.90
Invested Capital (Crs)	127	138	148	342	396	582
ROE (%)	22.03	24.54	27.68	30.64	25.39	14.03
Net Profit Margin (%)	1.14	1.93	4.19	3.72	3.75	2.09
Asset Turnover ratio	5.00	5.06	2.99	3.61	3.24	3.37
Equity Multiplier	3.87	2.51	2.20	2.28	2.09	1.99
Adjusted EPS	0.66	0.97	1.51	2.42	2.53	2.01
Valuation Ratios
P/E	0.00	0.00	0.00	0.00	0.00	25.40
Price to Book	0.00	0.00	0.00	0.00	0.00	3.56
EV/EBITDA	2.00	1.67	1.19	1.86	1.55	15.82
Dividend Yield (%)	—	—	—	—	—	0.59

Quarterly Results

HMA Agro Industries Ltd.
Venkys India
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	768	839	971	1,200	1,252	1,390	713	1,466	1,455	1,500
Operating Expenses	728	801	908	1,177	1,203	1,393	705	1,408	1,423	1,495
Increase/Decrease in Stock	10.75	-32.29	2.13	-46.00	-143	74.88	-203	-202	-64.24	40.23
Raw Material	586	678	766	1,064	1,161	1,148	795	1,437	1,307	1,287
Employee Cost	20.91	31.73	30.18	36.34	38.15	39.37	29.43	39.28	34.70	37.65
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	40.06	37.58	63.64	23.21	49.17	-3.17	7.90	57.90	31.67	4.68
Other Income	1.17	-0.47	9.42	4.58	26.78	7.90	9.54	12.16	26.30	33.34
Interest	2.67	3.99	4.35	2.85	3.52	2.87	3.33	3.87	7.82	8.35
PBDT	38.55	33.12	68.71	24.94	72.43	1.86	14.11	66.20	50.16	29.67
Depreciation and Amortization	2.76	10.75	9.68	8.83	10.19	6.07	8.39	8.41	8.89	8.83
Profit Before Tax	35.79	22.36	59.03	16.11	62.23	-4.21	5.72	57.79	41.27	20.83
Tax	7.76	12.13	14.71	10.48	13.13	-5.75	4.99	4.35	20.08	8.48
Profit After Tax	28.02	10.23	44.31	5.64	49.10	1.54	0.73	53.43	21.18	12.35
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	27.40	11.32	44.05	9.55	46.11	0.92	1.33	51.94	20.29	13.22
Quarterly Ratios
EPS	0.58	0.24	0.88	0.19	0.92	0.02	0.03	1.04	0.41	0.26
Operating Profit Margin	5.21	4.48	6.55	1.93	3.93	-0.23	1.11	3.95	2.18	0.31
Net Profit Margin	3.65	1.22	4.56	0.47	3.92	0.11	0.10	3.65	1.46	0.82

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

25.60%

Implied Growth Rate over a 5 year period*

7.50%

Implied Growth Rate over a 10 year period*

2.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on HMA Agro Industries Ltd. Financials

How strong is HMA Agro Indus balance sheet?

Balance sheet of HMA Agro Indus is strong.
It shouldn't have solvency or liquidity issues.

Is the debt of HMA Agro Indus increasing or decreasing?

Yes, The net debt of HMA Agro Indus is increasing.
Latest net debt of HMA Agro Indus is ₹439 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹261 Crs.

Is the profitablity of HMA Agro Indus improving?

No, profit is decreasing.
The profit of HMA Agro Indus is ₹87.69 Crs for TTM, ₹101 Crs for Mar 2024 and ₹120 Crs for Mar 2023.

Does HMA Agro Indus pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
HMA Agro Indus latest dividend payout ratio is 14.93% and 3yr average dividend payout ratio is 13.38%

How has HMA Agro Indus allocated its funds?

Companies resources are allocated to majorly unproductive assets like Accounts Receivable

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HMA Agro Industries Ltd.

HMA Agro Industries Ltd.

Has the share price of HMA Agro Indus grown faster than its competition?

Is HMA Agro Indus stock expensive?

How strong is HMA Agro Indus balance sheet?

Is the debt of HMA Agro Indus increasing or decreasing?

Is the profitablity of HMA Agro Indus improving?

Does HMA Agro Indus pay decent dividends?

How has HMA Agro Indus allocated its funds?

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