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Last Updated: April 2, 2026, 4:48 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543929 | NSE: HMAAGRO

HMA Agro Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹11.11Overvalued by 52.52%vs CMP ₹23.40

P/E (6.9) × ROE (11.5%) × BV (₹17.30) × DY (1.28%)

₹32.29Undervalued by 37.99%vs CMP ₹23.40
MoS: +27.5% (Adequate)Confidence: 48/100 (Moderate)Models: 5 Under, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹11.8822%Over (-49.2%)
Graham NumberEarnings₹36.3316%Under (+55.3%)
Earnings PowerEarnings₹4.5413%Over (-80.6%)
DCFCash Flow₹37.1113%Under (+58.6%)
Net Asset ValueAssets₹17.277%Over (-26.2%)
EV/EBITDAEnterprise₹15.659%Over (-33.1%)
Earnings YieldEarnings₹33.907%Under (+44.9%)
ROCE CapitalReturns₹95.679%Under (+308.8%)
Revenue MultipleRevenue₹102.575%Under (+338.3%)
Consensus (9 models)₹32.29100%Undervalued
Key Drivers: Wide model spread (₹5–₹103) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 7.0%

*Investments are subject to market risks

Investment Snapshot

67
HMA Agro Industries Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 11.8% AverageROE 11.5% AverageD/E 0.69 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 1.33% MF buyingPromoter holding at 81.6% Stable
Earnings Quality60/100 · Moderate
OPM stable around 3% SteadyWorking capital: 11 days (improving) Efficient
Quarterly Momentum90/100 · Strong
Revenue (4Q): +36% YoY AcceleratingProfit (4Q): +121% YoY Strong
Industry Rank65/100 · Strong
P/E 6.9 vs industry 112.3 Cheaper than peersROCE 11.8% vs industry 16.4% Average3Y sales CAGR: 19% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

HMA Agro Industries Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
70/100
High
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 6.9 vs Ind 112.3 | ROCE 11.8% | ROE 11.5% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.69x | IntCov 0.0x | Current 1.19x | Borrow/Reserve 0.77x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹88 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -0.93 pp | DII +0.72 pp | Prom 0.00 pp
Business Momentum
-39
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales -4.5% | Q NP -25.6% | Q OPM -1.0 pp
Derived FieldValueHow it is derived
Valuation Gap %+38.0%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.77xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-0.93 ppLatest FII% minus previous FII%
DII Change+0.72 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-504Latest shareholder count minus previous count
Quarterly Sales Change-4.5%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-25.6%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-1.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:48 am

Market Cap 1,171 Cr.
Current Price 23.4
Intrinsic Value₹32.29
High / Low 38.2/20.0
Stock P/E6.89
Book Value 17.3
Dividend Yield1.28 %
ROCE11.8 %
ROE11.5 %
Face Value 1.00
PEG Ratio0.99

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for HMA Agro Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
HMA Agro Industries Ltd 1,171 Cr. 23.4 38.2/20.06.89 17.31.28 %11.8 %11.5 % 1.00
ICE Make Refrigeration Ltd 1,080 Cr. 684 1,089/66078.3 76.80.33 %20.6 %20.3 % 10.0
SKM Egg Products Export (India) Ltd 832 Cr. 158 232/75.510.7 64.30.47 %13.1 %11.8 % 5.00
Apis India Ltd 832 Cr. 60.4 110/11.238.5 13.30.00 %14.4 %15.2 % 10.0
Tasty Bite Eatables Ltd 1,719 Cr. 6,698 11,958/6,43048.0 1,2420.03 %10.7 %8.58 % 10.0
Industry Average19,776.38 Cr581.69112.2889.800.31%16.37%17.51%5.63

All Competitor Stocks of HMA Agro Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 7688399711,2001,2521,3907131,4661,4551,5001,1232,1552,059
Expenses 7288019081,1771,2031,3937051,4081,4231,4951,1172,0601,995
Operating Profit 4038642349-385832559564
OPM % 5%4%7%2%4%-0%1%4%2%0%0%4%3%
Other Income 1-09527810122633113641
Interest 1443433488869
Depreciation 3111091068899788
Profit before tax 3722591662-46584121111788
Tax % 21%54%25%65%21%-137%87%8%49%41%58%23%24%
Net Profit 2910446492153211219067
EPS in Rs 0.620.220.880.190.920.020.031.040.410.260.021.791.32

Last Updated: March 3, 2026, 9:10 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 7:16 am

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,7422,3731,7083,0833,2094,8135,1336,837
Expenses 2,7202,3261,6082,9593,0524,6775,0276,667
Operating Profit 234799124158137106170
OPM % 1%2%6%4%5%3%2%2%
Other Income 42441356474981121
Interest 61961013172732
Depreciation 101081118353532
Profit before tax 496298159174133126227
Tax % 36%26%26%27%29%24%30%
Net Profit 31467211612310188169
EPS in Rs 8.3612.3119.362.422.532.011.733.39
Dividend Payout % 0%0%0%0%0%15%17%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)48.39%56.52%61.11%6.03%-17.89%-12.87%
Change in YoY Net Profit Growth (%)0.00%8.13%4.59%-55.08%-23.92%5.01%

HMA Agro Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2019-2020 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: December 10, 2025, 4:29 am

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 4444848505050
Reserves 138183256327427667739814
Borrowings 132169181330343492535627
Other Liabilities 276117131151181230386276
Total Liabilities 5494735728569991,4391,7101,768
Fixed Assets 849593141261295273271
CWIP 02149258364755
Investments 00000000
Other Assets 4653764666246801,1091,3901,441
Total Assets 5494735728569991,4391,7101,768

Reserves and Borrowings Chart

Cash Flow

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 232475-32136-166124
Cash from Investing Activity + -8-30-70-144-83-56-150
Cash from Financing Activity + -12378142-32685
Net Cash Flow 33213-335046-21
Free Cash Flow 14257-10026-195103
CFO/OP 197%80%105%12%118%-83%163%

Free Cash Flow

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-109.00-122.00-82.00-206.00-185.00-355.00-429.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 38183434343711
Inventory Days 15303421192256
Days Payable 407181213128
Cash Conversion Cycle 13414943404658
Working Capital Days 5571061411
ROCE %26%26%29%24%14%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 83.61%83.61%83.61%83.61%83.61%83.61%83.61%83.61%81.63%81.63%81.63%
FIIs 8.05%8.02%7.40%5.88%5.30%5.76%5.33%5.24%6.73%5.85%4.92%
DIIs 0.20%0.00%0.00%0.02%0.03%0.00%0.00%0.02%0.11%0.63%1.35%
Public 8.14%8.37%8.98%10.48%11.06%10.63%11.04%11.14%11.54%11.90%12.12%
No. of Shareholders 58,96220,60426,29554,33958,98060,57665,74865,00265,49864,97564,471

Shareholding Pattern Chart

No. of Shareholders

HMA Agro Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.0010.0010.0010.00
Basic EPS (Rs.) 1.752.0325.3424.39195.00
Diluted EPS (Rs.) 1.752.0325.3424.39195.00
Cash EPS (Rs.) 2.442.7029.7027.00237.03
Book Value[Excl.RevalReserv]/Share (Rs.) 15.7514.73104.0782.47705.40
Book Value[Incl.RevalReserv]/Share (Rs.) 15.7514.73104.0782.47705.40
Revenue From Operations / Share (Rs.) 102.5096.12675.44648.914614.86
PBDIT / Share (Rs.) 3.663.6342.5937.00317.30
PBIT / Share (Rs.) 2.972.9338.8834.76277.03
PBT / Share (Rs.) 2.512.6636.5333.38265.40
Net Profit / Share (Rs.) 1.752.0125.9824.75196.76
NP After MI And SOA / Share (Rs.) 1.732.0125.3424.39196.76
PBDIT Margin (%) 3.573.776.305.706.87
PBIT Margin (%) 2.903.045.755.356.00
PBT Margin (%) 2.442.765.405.145.75
Net Profit Margin (%) 1.702.083.843.814.26
NP After MI And SOA Margin (%) 1.692.093.753.754.26
Return on Networth / Equity (%) 11.0014.0325.3830.9327.94
Return on Capital Employeed (%) 17.7019.0434.1537.0638.53
Return On Assets (%) 5.076.9912.0513.5312.25
Long Term Debt / Equity (X) 0.030.030.080.130.01
Total Debt / Equity (X) 0.670.680.720.880.69
Asset Turnover Ratio (%) 3.263.953.554.373.16
Current Ratio (X) 1.291.451.271.311.19
Quick Ratio (X) 0.511.090.990.970.80
Inventory Turnover Ratio (X) 11.2822.4420.1418.219.42
Dividend Payout Ratio (NP) (%) 17.3114.927.890.000.00
Dividend Payout Ratio (CP) (%) 12.3811.096.880.000.00
Earning Retention Ratio (%) 82.6985.0892.110.000.00
Cash Earning Retention Ratio (%) 87.6288.9193.120.000.00
Interest Coverage Ratio (X) 7.8513.3518.1226.7827.30
Interest Coverage Ratio (Post Tax) (X) 4.758.4012.0618.9217.93
Enterprise Value (Cr.) 1863.982950.830.000.000.00
EV / Net Operating Revenue (X) 0.360.610.000.000.00
EV / EBITDA (X) 10.1616.260.000.000.00
MarketCap / Net Operating Revenue (X) 0.270.530.000.000.00
Retention Ratios (%) 82.6885.0792.100.000.00
Price / BV (X) 1.783.560.000.000.00
Price / Net Operating Revenue (X) 0.270.530.000.000.00
EarningsYield 0.060.030.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

HMA Agro Industries Ltd. is a Public Limited Listed company incorporated on 09/04/2008 and has its registered office in the State of Uttar Pradesh, India. Company's Corporate Identification Number(CIN) is L74110UP2008PLC034977 and registration number is 034977. Currently Company is involved in the business activities of Processing and preserving of meat. Company's Total Operating Revenue is Rs. 4862.14 Cr. and Equity Capital is Rs. 50.08 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Food Processing - Bakery/Dairy/Fruits/Others18A/5/3, Tajview Crossing, Fatehabad Road, Agra Uttar Pradesh 282001Contact not found
Management
NamePosition Held
Mr. Gulzar AhmadChairman & Wholetime Director
Mr. Mohammad Mehmood QureshiManaging Director
Mr. Gulzeb AhmedWholeTime Director & CFO
Mr. Gaurav Rajendra LuthraIndependent Director
Mr. Bhawna JainIndependent Director
Mr. Abhishek SharmaIndependent Director

FAQ

What is the intrinsic value of HMA Agro Industries Ltd and is it undervalued?

As of 07 April 2026, HMA Agro Industries Ltd's intrinsic value is ₹32.29, which is 37.99% higher than the current market price of ₹23.40, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (11.5 %), book value (₹17.3), dividend yield (1.28 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of HMA Agro Industries Ltd?

HMA Agro Industries Ltd is trading at ₹23.40 as of 07 April 2026, with a FY2026-2027 high of ₹38.2 and low of ₹20.0. The stock is currently near its 52-week low. Market cap stands at ₹1,171 Cr..

How does HMA Agro Industries Ltd's P/E ratio compare to its industry?

HMA Agro Industries Ltd has a P/E ratio of 6.89, which is below the industry average of 112.28. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is HMA Agro Industries Ltd financially healthy?

Key indicators for HMA Agro Industries Ltd: ROCE of 11.8 % is moderate. Dividend yield is 1.28 %.

Is HMA Agro Industries Ltd profitable and how is the profit trend?

HMA Agro Industries Ltd reported a net profit of ₹88 Cr in Mar 2025 on revenue of ₹5,133 Cr. Compared to ₹116 Cr in Mar 2022, the net profit shows a declining trend.

Does HMA Agro Industries Ltd pay dividends?

HMA Agro Industries Ltd has a dividend yield of 1.28 % at the current price of ₹23.40. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in HMA Agro Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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