HMAAGROHMA Agro Industries Ltd.
HMA Agro Industries Q2 FY27 Results: Consolidated Net Profit ₹105 Crore on Total Income of ₹2,814 Crore
- Earnings
- Meat processing and export
Reviewed byRachit TripathiBlacklitt Research
HMA Agro Industries (NSE: HMAAGRO) reported consolidated total income of ₹2,814.03 crore and net profit of ₹104.57 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹2,771.84 crore and standalone net profit ₹81.08 crore, according to the results it said in a filing on 03 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹2,814.03 crore, up 28.4% YoY and 29.0% QoQ
- Net profit and EPS: ₹104.57 crore, up 16.5% YoY; basic EPS ₹2.08 against ₹1.79
- Finance costs: ₹14.06 crore, against ₹6.42 crore a year earlier
Standalone
The company on its own, without its subsidiaries
- Total income: ₹2,771.84 crore, up 26.9% YoY and 29.3% QoQ
- Net profit and EPS: ₹81.08 crore, up 68.1% YoY; basic EPS ₹1.62 against ₹0.96
- Finance costs: ₹13.83 crore, against ₹6.40 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,814.03 | 2,191.45 | +28.4% | 2,182.08 | +29.0% | |
| Revenue from operations | 2,779.48 | 2,155.34 | +29.0% | 2,110.32 | +31.7% |
| Other income | 34.55 | 36.11 | -4.3% | 71.77 | -51.9% |
| 104.57 | 89.79 | +16.5% | 50.51 | +107.0% | |
| Profit before tax | 132.48 | 117.02 | +13.2% | 62.51 | +111.9% |
| Finance costs | 14.06 | 6.42 | +118.8% | 11.75 | +19.6% |
| Depreciation | 7.00 | 8.13 | -13.9% | 6.79 | +3.1% |
| Tax expense | 27.91 | 27.23 | +2.5% | 12.00 | +132.7% |
| Net profit margin | 3.72% | 4.10% | -0.38 pp | 2.31% | +1.40 pp |
| EPS, basic (₹) | 2.08 | 1.79 | +16.2% | 1.01 | +105.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit rose 16.5% YoY while total income rose 28.4%, so profit grew more slowly than income this quarter. Profit before tax grew 13.2%, and tax expense rose 2.5% to ₹27.91 crore, which is 21.1% of profit before tax.
Other income of ₹34.55 crore fell 4.3% from ₹36.11 crore and is 1.2% of total income, against 26.1% of profit before tax. Revenue from operations rose 29.0% to ₹2,779.48 crore, so most of the year-on-year increase in total income sits in operating revenue.
Finance costs more than doubled, rising 118.8% to ₹14.06 crore, though they remain 0.5% of total income. The filing does not give the reason for the rise in finance costs or for the movement in other income between the quarters.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,771.84 | 2,184.95 | +26.9% | 2,143.51 | +29.3% | |
| Revenue from operations | 2,733.11 | 2,149.17 | +27.2% | 2,072.14 | +31.9% |
| Other income | 38.73 | 35.78 | +8.2% | 71.38 | -45.7% |
| 81.08 | 48.23 | +68.1% | 31.91 | +154.1% | |
| Profit before tax | 108.41 | 64.46 | +68.2% | 42.74 | +153.7% |
| Finance costs | 13.83 | 6.40 | +116.2% | 11.48 | +20.5% |
| Depreciation | 1.11 | 1.47 | -24.3% | 1.07 | +3.8% |
| Tax expense | 27.33 | 16.23 | +68.4% | 10.83 | +152.5% |
| Net profit margin | 2.93% | 2.21% | +0.72 pp | 1.49% | +1.44 pp |
| EPS, basic (₹) | 1.62 | 0.96 | +68.8% | 0.64 | +153.1% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 68.1% YoY to ₹81.08 crore, faster than total income at 26.9%. Profit before tax rose 68.2%, and tax expense rose 68.4% to ₹27.33 crore, which is 25.2% of profit before tax.
Standalone other income rose 8.2% to ₹38.73 crore, 35.7% of profit before tax, while revenue from operations rose 27.2%. Finance costs of ₹13.83 crore are 0.5% of total income, up from ₹6.40 crore a year earlier.
The consolidated net profit of ₹104.57 crore is ₹23.49 crore higher than the standalone figure of ₹81.08 crore. The filing notes the disposal of FNS Agro Foods Limited for ₹50.08 million, which ceased to be a subsidiary; the consolidated statement records a gain of ₹0.55 million and the standalone statement a gain of ₹46.69 million.
Inference
The auditor issued unmodified limited review reports on both the consolidated and standalone results, dated 03 Nov 2026. The consolidated results include ten subsidiaries and a 49.41% holding in International Agro Foods Export.
The company reports a single reportable business segment, buffalo frozen meat and meat products. The filing paid dividends of ₹150.23 million in the half year, and it does not declare a dividend for the quarter.
The filing does not say whether the FNS Agro Foods disposal will affect future results, and it does not give the reasons for the movements in changes in inventories and cost of raw materials.
Filed with BSE on . Reference: Original filing (PDF)
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