Shares of HMA Agro Industries Ltd hit the 10% upper circuit at Rs 45.26 in morning trade on Tuesday, November 12, after the company reported strong financial results for the quarter ended September 2024.
The stock opened at Rs 45.10 on the BSE, up nearly 9.5% from Monday’s close of Rs 41.15, and quickly reached its upper price limit as investors reacted positively to the company’s financial performance.
HMA Agro reported a 105.7% quarter-on-quarter surge in consolidated revenue to Rs 1,465.86 crore in Q2 from ₹712.6 crore in the preceding quarter.
The revenue for the first half of fiscal 2024-25 (H1 FY25) also showed a modest increase of 0.32% to Rs 2,178.48 crore compared to Rs 2,171.4 crore in H1 FY24.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a substantial quarterly rise of 301.73% to Rs 70.06 crore from Rs 17.44 crore in Q1 FY25. On a year-over-year basis, H1 FY25 EBITDA rose 13.24% to Rs 100.85 crore.
HMA Agro’s net profit also saw an impressive 7,229% growth from Rs 0.73 crore in Q1 FY25 to Rs 53.43 crore in Q2. For H1 FY25, net profit climbed by 8.44% to Rs 54.16 crore compared to Rs 49.95 crore in H1 FY24.
Meanwhile, HMA Agro signed a Memorandum of Understanding (MoU) in October with Malaysia’s Perbadanan Kemajuan Pertanian Selangor, a state government entity, for the supply of frozen boneless buffalo meat. The partnership also aims to explore joint research initiatives to address industry challenges and expand HMA Agro’s international presence.
Despite the strong quarterly performance and promising MoU, the company faced a recent operational challenge. Last month, HMA Agro temporarily halted production at one of its units in Aligarh following a routine inspection by local authorities. However, the company has reassured stakeholders of minimal impact on overall operations.
