HMA Agro H1 FY27 profit rises 72% as revenue gains 49%

HMA Agro Industries Limited reported consolidated profit after tax of Rs 155.081 crore for H1 FY27, up 71.58% year on year, while revenue increased 49.17% to Rs 4,889.799 crore. The April-September results also showed consolidated EBITDA rising 58.30% to Rs 234.583 crore and profit before tax increasing 64.63% to Rs 194.991 crore.

How did HMA Agro’s consolidated H1 FY27 earnings change?

HMA Agro’s consolidated H1 FY27 profit after tax grew faster than revenue, rising 71.58% to Rs 155.081 crore from Rs 90.386 crore in H1 FY26, while revenue rose 49.17% from Rs 3,277.949 crore. EBITDA, or earnings before interest, tax, depreciation and amortisation, rose 58.30% to Rs 234.583 crore, and profit before tax increased 64.63% to Rs 194.991 crore.

HMA Agro reported total income of Rs 4,996.111 crore in H1 FY27, up 50.24% from Rs 3,325.376 crore a year earlier. Operating expense rose to Rs 4,761.528 crore from Rs 3,177.183 crore, while other income increased to Rs 106.312 crore from Rs 47.427 crore. The reported increase in total income was Rs 1,670.735 crore, compared with a Rs 1,584.345 crore increase in operating expense.

Did HMA Agro’s consolidated H1 FY27 margins improve?

HMA Agro’s displayed consolidated EBITDA, profit-before-tax and profit-after-tax margins were higher in H1 FY27 than in H1 FY26. EBITDA margin was 4.80% versus 4.52%, profit-before-tax margin was 3.99% versus 3.61%, and profit-after-tax margin was 3.17% versus 2.76%. Based on those displayed rates, the respective changes were 28, 38 and 41 basis points, with one basis point equal to one-hundredth of a percentage point.

The presentation’s year-on-year margin column instead shows changes of 932 basis points for EBITDA, 760 basis points for profit before tax and 593 basis points for profit after tax. Those labels do not match the difference between the margin percentages printed in the same H1 table. The reported absolute figures show that EBITDA rose by Rs 86.391 crore, profit before tax by Rs 76.552 crore and profit after tax by Rs 64.695 crore.

Finance cost increased to Rs 25.803 crore in H1 FY27 from Rs 14.142 crore in H1 FY26, while depreciation and amortisation declined to Rs 13.789 crore from Rs 15.612 crore. Tax expense rose to Rs 39.910 crore from Rs 28.053 crore. The presentation provides the income-statement movements but does not state operational reasons for the revenue growth, expense increase or margin changes.

What did HMA Agro report for Q2 FY27?

HMA Agro reported consolidated Q2 FY27 revenue of Rs 2,779.481 crore, up 31.71% from Rs 2,110.319 crore in Q1 FY27 and 28.96% from Rs 2,155.339 crore in Q2 FY26. Q2 profit after tax was Rs 104.567 crore, up 107.01% sequentially from Rs 50.514 crore and 16.46% from Rs 89.789 crore a year earlier. The presentation defines Q1 as April to June and Q2 as July to September.

HMA Agro’s Q2 EBITDA was 89.44% above Q1 FY27 and 16.69% above Q2 FY26. Its Q2 EBITDA margin was 5.52%, compared with 3.84% in Q1 FY27 and 6.10% in Q2 FY26. The displayed rate therefore increased by 168 basis points sequentially but was 58 basis points below the prior-year quarter.

Q2 profit before tax reached Rs 132.481 crore after Rs 14.056 crore of finance cost and Rs 6.999 crore of depreciation and amortisation. Finance cost was Rs 11.748 crore in Q1 FY27 and Rs 6.423 crore in Q2 FY26. The Q2 profit-after-tax margin was 3.76%, compared with 2.39% in Q1 FY27 and 4.17% in Q2 FY26.

How did HMA Agro’s standalone performance compare with consolidated results?

HMA Agro’s standalone H1 FY27 revenue was Rs 4,805.250 crore, up 48.42% year on year, and standalone profit after tax was Rs 112.994 crore, up 103.94%. Consolidated revenue was Rs 84.549 crore higher than standalone revenue, while consolidated profit after tax was Rs 42.087 crore higher. Standalone profit growth therefore exceeded the consolidated profit growth rate of 71.58%.

Standalone EBITDA was Rs 178.631 crore in H1 FY27, against consolidated EBITDA of Rs 234.583 crore. The respective EBITDA margins were 3.72% and 4.80%, while standalone profit-after-tax margin was 2.35% against 3.17% on the consolidated basis. Standalone profit before tax rose 104.15% to Rs 151.147 crore, compared with the 64.63% consolidated increase to Rs 194.991 crore.

The Q2 comparison showed consolidated revenue growth of 28.96%, slightly ahead of standalone revenue growth of 27.17%. Standalone Q2 FY27 revenue was Rs 2,733.113 crore and profit after tax was Rs 81.082 crore, up 68.10% year on year. Consolidated Q2 profit after tax was Rs 104.567 crore, but its year-on-year growth rate was 16.46%.

Conclusion

HMA Agro’s H1 FY27 consolidated statement shows profit after tax rising faster than revenue, with a 71.58% increase in profit after tax alongside 49.17% revenue growth. The period also included a sequentially higher Q2, when revenue, EBITDA, profit before tax and profit after tax all exceeded Q1 FY27 levels. However, Q2 EBITDA and profit-after-tax margins remained below their displayed Q2 FY26 rates.

The presentation discloses no earnings target, capital plan or scheduled corporate event after the H1 FY27 reporting period. The next reported quarter can be assessed against H1 FY27 consolidated finance cost of Rs 25.803 crore and the FY26 consolidated base of Rs 6,916.495 crore in revenue, Rs 283.959 crore in EBITDA and Rs 165.186 crore in profit after tax.