HMA Agro Industries543929Quarterly results

Board approves unaudited Q2 and H1 results; auditor's limited review conclusion unmodified

Board met on November 03, 2026 and approved the unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.

By ScoutQuest · Tue 3 Nov 2026, 1:06 PM IST · 3 min read

Consolidated · ₹ million · EPS in ₹
Line item	Latest	Year ago	YoY	Prev qtr	QoQ
Revenue from operations	27,794.81	21,553.39	+29%	21,103.19	+31.7%
Total income	28,140.28	21,914.45	+28.4%	21,820.84	+29%
Profit before tax	1,324.81	1,170.16	+13.2%	625.10	+112%
Profit after tax	1,045.67	897.89	+16.5%	505.14	+107%
Total comprehensive income	1,050.89	897.89	+17%	510.36	+106%
Basic EPS	2.08	1.79	+16.2%	1.01	+106%

Total income - Year ago: 21,914.45 (+28.4%)
Period: September 30, 2026 (Unaudited)

Also decided at the meeting

Board disclosed KMPs authorised under Regulation 30(5) to determine materiality: Mr. Gulzar Ahmad (MD), Mr. Gulzeb Ahmed (CFO) and Mr. Nikhil Sundrani (CS & Compliance Officer).

Auditor's review

Conclusion: Unmodified

Notes to the results

The Group disposed of its entire equity interest in FNS Agro Foods Limited for an aggregate consideration of Rs 50.08 million; it ceased to be a subsidiary and a gain on disposal of Rs 0.55 million was recognised.
The Group operates in a single reportable segment: manufacturing and exporting buffalo frozen meat and meat products.

What the board approved

The board met on Tuesday, November 03, 2026 and approved the company's unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.
It took note of the limited review reports issued by the statutory auditors, VAA & Associates, Chartered Accountants, on those results.
It authorised the Managing Director, Mr. Gulzar Ahmad, the Chief Financial Officer, Mr. Gulzeb Ahmed, and the Company Secretary and Compliance Officer, Mr. Nikhil Sundrani, under Regulation 30(5) for deciding the materiality of events and information for disclosure to the stock exchanges.

The auditor's conclusion

The review conclusion is unmodified. The auditors state that nothing has come to their attention that causes them to believe the statements contain any material misstatement. The reports note that a review is substantially less in scope than an audit and that the auditors do not express an audit opinion.

Consolidated results (Rupees in Millions)

Revenue from operations was 27,794.81 for the quarter ended September 30, 2026, against 21,553.39 in the same quarter a year earlier.
Revenue from operations was 48,897.99 for the half year ended September 30, 2026.
Net profit for the period was 1,045.67 for the quarter, against 897.89 in the same quarter a year earlier.
Net profit for the period was 1,550.81 for the half year ended September 30, 2026.
These are consolidated figures, so they include the group's subsidiaries. The statement places the year-earlier figures for the quarter and half year next to the current ones, which is what allows a like-for-like comparison.

One item to note

Note 3 to the results records that the group disposed of its entire equity interest in FNS Agro Foods Limited for an aggregate consideration of Rs 50.08 million, and a resultant gain on disposal of Rs 0.55 million was recognised. After the disposal, FNS Agro Foods Limited ceased to be a subsidiary. That gain flows through the reported profit, so it is a one-off item rather than trading profit.

The business

The notes describe the group as engaged in manufacturing and exporting buffalo frozen meat and meat products, which it treats as a single reportable business segment, with manufacturing operations in India and sales across various geographical markets worldwide. Because it is a single segment, no separate segment-wise numbers are presented.

What a retail investor can take away

The update pairs the current quarter and half year with the same periods a year earlier, which is the basis on which a results announcement is usually read.
Profit for the quarter and the half year is higher than in the corresponding year-earlier periods on a consolidated basis; the disposal gain of Rs 0.55 million is part of that profit and is not recurring.
The assurance attached to these numbers is a limited review, which gives moderate assurance rather than the full assurance of an audit. That is the nature of the report the auditors have issued here.

1,045.67 (Rupees in Millions)+16.5%

2025897.89 (Rupees in Millions)20261,045.67 (Rupees in Millions)

Consolidated Net profit for the period, quarter ended Sep 30: 897.89 (Rupees in Millions) (2025) and 1,045.67 (Rupees in Millions) (2026).

1,550.81 (Rupees in Millions)Consolidated Net profit for the period, half year ended Sep 30

Consolidated Net profit for the period, quarter ended Sep 301,045.67 (Rupees in Millions)

Profit after tax, quarter505.14 (Rupees in Millions)

Consolidated Net profit for the period, half year ended Sep 30 1,550.81 (Rupees in Millions): Consolidated Net profit for the period, quarter ended Sep 30 1,045.67 (Rupees in Millions), Profit after tax, quarter 505.14 (Rupees in Millions).

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