HOAC Foods H1 income nearly doubles, profit rises 125%

HOAC Foods India Limited reported total income of Rs 43.37 crore for H1 FY27, up 98.59% year on year, while profit after tax rose 124.51% to Rs 4.38 crore for the half year ended September 30, 2026. The company also reported a 117-basis-point expansion in PAT margin to 10.10%.

How did HOAC Foods perform in H1 FY27?

HOAC Foods reported higher total income, earnings before interest, tax, depreciation and amortisation (EBITDA), and profit after tax (PAT) in H1 FY27 than in H1 FY26. Total income reached Rs 43.37 crore in the half year ended September 30, 2026, compared with Rs 21.84 crore a year earlier, representing growth of 98.59%.

EBITDA rose 99.65% to Rs 6.61 crore in H1 FY27 from Rs 3.31 crore in H1 FY26. PAT increased faster than both income and EBITDA, reaching Rs 4.38 crore from Rs 1.95 crore, or 124.51% growth. The reported comparison therefore shows profit growing more quickly than total income over the six-month period.

The November 4, 2026 release describes these as consolidated financial highlights. HOAC Foods sells flour, spices, pulses and mustard oil under its Hariom Atta & Spices brand, but the announcement does not provide income, volume, pricing or profitability splits for individual product categories in H1 FY27.

What happened to HOAC Foods' margins in H1 FY27?

HOAC Foods reported an EBITDA margin of 15.25% and a PAT margin of 10.10% for H1 FY27. The PAT margin increased by 117 basis points year on year, alongside the rise in PAT to Rs 4.38 crore for the half year ended September 30, 2026.

The release provides the H1 FY27 EBITDA and PAT figures, which were Rs 6.61 crore and Rs 4.38 crore respectively. That is a difference of Rs 2.23 crore between the two reported measures. However, HOAC Foods did not provide a detailed reconciliation for this difference, such as finance costs, depreciation, exceptional items or tax expense.

Management said its focus during H1 FY27 remained on consistent product quality, improving operating efficiency and careful cost management. That is management commentary rather than a quantified explanation for the 117-basis-point PAT-margin increase, and the company did not disclose the prior-year EBITDA margin in the announcement.

Where is HOAC Foods expanding its retail presence?

HOAC Foods announced its first retail outlet in Bhopal, Madhya Pradesh, during H1 FY27, marking its stated expansion beyond Delhi National Capital Region, or Delhi NCR. The Bhopal outlet spans approximately 240 square feet and is intended to extend the Hariom Atta & Spices retail presence into the city.

HOAC Foods also established a dedicated Madhya Pradesh team for operations, sales and market development in the half year ended September 30, 2026. The company said a nearby manufacturing facility is expected to support supply and logistics, but did not disclose the facility's location, capacity, commissioning timeline or expected financial contribution.

Within Delhi NCR, HOAC Foods commenced operations at a Hariom franchise outlet in Unitech Arcadia, South City 2, Gurugram. The two announcements describe different forms of expansion: the Bhopal site is identified as the first retail outlet in that city, while the Gurugram location is specifically identified as a franchise outlet.

HOAC Foods operates through company-owned outlets, franchise stores, ecommerce channels and an expanding business-to-business, or B2B, network. Despite total income of Rs 43.37 crore in H1 FY27, the release does not disclose outlet numbers, ecommerce sales, B2B revenue or the income contribution from each route to market.

How is HOAC Foods developing its franchise network?

HOAC Foods said a majority of its franchise partners operate multiple outlets, and management plans to focus on improving partner performance and profitability to support additional expansion. The new Gurugram outlet, which commenced operations during H1 FY27, is the only specific franchise opening identified in the November 4, 2026 release.

Management also said it plans to strengthen distribution and take Hariom products to more customers following the September 30, 2026 half year. This is an operating plan rather than a numerical target: HOAC Foods did not disclose a planned number of stores, franchise partners, revenue goal or timetable for further openings.

The franchise plan operates alongside company-owned outlets, ecommerce and B2B channels. HOAC Foods' stated product range also includes flour, spices, pulses, oil, dry fruits and grains, but the H1 FY27 announcement gives no segment-level sales or profit data. The reported 98.59% increase in total income therefore cannot be assigned to a particular product group or distribution channel from this release.

What is next for HOAC Foods after H1 FY27 results?

HOAC Foods scheduled an earnings conference call for November 5, 2026, at 4:00 PM Indian Standard Time, to discuss its unaudited results for the half year ended September 30, 2026. The call follows the November 4 press release and the November 5 filing with the National Stock Exchange of India.

Founder and Managing Director Rambabu Thakur said management was encouraged by existing franchise partners operating multiple outlets. He said the company would focus on partner performance, distribution and development in Madhya Pradesh, where the approximately 240-square-foot Bhopal outlet and a regional team were announced during H1 FY27.

HOAC Foods also cautioned that forward-looking statements are based on current expectations, assumptions and projections and may differ materially from outcomes. The company cited risks and uncertainties including government actions, local, political and economic developments, and technological risks, without quantifying their potential effect on its Rs 43.37 crore H1 FY27 income.

Conclusion

HOAC Foods' H1 FY27 results show total income nearly doubled to Rs 43.37 crore and EBITDA nearly doubled to Rs 6.61 crore, while PAT rose 124.51% to Rs 4.38 crore. The faster rate of PAT growth and the reported 117-basis-point rise in PAT margin to 10.10% were the principal changes from H1 FY26.

The next disclosed event is the November 5, 2026 earnings call. Investors will watch for detail on management's plans to improve franchise partner performance, strengthen distribution and develop Madhya Pradesh, as the release gives no quantified outlet-opening, revenue or profit targets.