HMA Agro Industries reported a significant recovery in its June quarter, driven by robust export demand for buffalo meat, with margins and profits surging compared to a weaker previous year. The company also explores new segments like pet food amidst ongoing diversification efforts.
HMA Agro Industries has reported a sharp rebound in the June quarter, with export demand for buffalo meat helping to lift revenue, profit and margins after a much weaker performance a year earlier. In the quarter ended 30 June 2026, standalone revenue rose to INR2,072.14 crore, while consolidated revenue reached INR2,110.32 crore, according to the company’s earnings call summary.
The improvement was even more pronounced below the top line. Standalone earnings before interest, tax, depreciation and amortisation climbed to INR55.28 crore, with the margin rising to 2.67% from 1.65% a year earlier. Net profit increased to INR31.91 crore, up from INR7.17 crore. On a consolidated basis, EBITDA jumped to INR81.05 crore and profit after tax rose to INR50.51 crore, compared with just INR0.6 crore in the same period last year, reflecting stronger operating leverage and tighter execution, the company said.
Management attributed the growth mainly to exports of buffalo products, which remain HMA Agro’s core business. The company also said foreign exchange gains, duty drawback and interest on fixed deposits contributed to other income, although it did not provide a detailed split of the increase during the call. It also stopped short of giving a full value-and-volume breakdown of revenue growth, leaving some uncertainty over how much of the improvement came from pricing and how much from higher sales volumes.
HMA Agro is also looking beyond its main business, but those efforts are still in early stages. The company said it is exploring pet food, using by-products from its existing operations, and described the segment as having long-term potential. Even so, management acknowledged that value-added buffalo products have not yet gained strong traction, while questions about Vietnam operations and a Brazilian beef business were not answered before the call ended. Earlier market reports had already shown a sharp swing in results for the company, with a difficult prior quarter giving way to the latest recovery.
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