Hma Agro Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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HMA Agro Industries Limited reported consolidated revenue of Rs 69,164.95 million for FY 2026, up 32.7% from Rs 52,143.72 million in the prior year. Net profit rose 88.4% to Rs 1,651.86 million (standalone: Rs 1,271.07 million, up 111.2% from Rs 601.73 million). The auditors (MAPSS and Company) issued an unmodified opinion on both standalone and consolidated results. The company appointed M/s S.N. Gupta & Co. as internal auditor for FY 2026-27. Notably, consolidated operating cash flow turned negative at Rs -845.47 million for the year (standalone: Rs -1,191.20 million), and inventories nearly doubled to Rs 13,306 million from Rs 6,696 million. Total debt stood at Rs 8,500.27 million with a debt-to-equity ratio of 0.90 (up from 0.68), while trade receivables halved to Rs 237.32 million, indicating either strong collections or a shift in business dynamics.
Revenue and profit growth are strong, but the sharp rise in debt-to-equity ratio (0.68 to 0.90) and negative operating cash flow are red flags that investors should monitor closely. The doubling of inventory and halving of receivables warrant scrutiny on working capital management.