BSE: 519574
HINDUSTAN AGRIGENETICS LTD.
Trades agricultural seeds, but core operating activity is minimal. Revenue from operations for FY26 was Rs 4.33 lakh, down from Rs 7.71 lakh in FY25, and the company reported nil operating revenue in Q3 FY26. The bulk of total revenue (Rs 105.15 lakh in FY26) came from other income, primarily interest on investments and changes in investment values, with nine-month FY26 interest income of Rs 66.73 lakh. The FY26 swing to a profit of Rs 13.42 lakh was aided by an exceptional gain of Rs 13.32 lakh from the sale of agricultural land. Cash and cash equivalents stood at Rs 5.62 crore against an operating revenue base that is negligible, so the income statement is driven by investment returns rather than seed trading. Cost lines including employee costs (217.1% of revenue) and other opex (1761.9% of revenue) far exceed the small operating revenue base. The company is small enough to qualify for SEBI LODR exemptions, with paid-up equity of Rs 4.40 crore and net worth of Rs 12.16 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Agricultural seeds trading, Other income (interest, investment gains), Sale of agricultural land. Near-dormant operating business; income statement driven by investment returns and one-time asset sales.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (1) | (0) | (1) | (1) |
| margin % | (276.3) | (1030.4) | (442.2) | (1323.7) | (1622.4) |
| Owners' profit | (0) | 10 | 0 | (0) | 0 |
| EPS, as reported (₹) | (0.00) | 0.22 | 1.07 | (0.69) | 0.30 |
| ROE % · ROCE % | (4.8) · (5.3) | 83.1 · 83.4 | 3.8 · 4.9 | (2.5) · (2.4) | 1.1 · 2.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 5 | (7) | (0) | 0 | 1 |
| Capex | 0 | 0 | 0 | (0) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | (1) | 0 | 0 | (0) | (0) | 0 |
| Net profit | 0 | 0 | (1) | 0 | 0 | (0) | (0) | 0 |
| EPS (₹) | 0.33 | 0.06 | (1.17) | 0.91 | 0.43 | (0.10) | (0.94) | 0.68 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED | 13,296 | 20.8 | 2.94 | 11.3 | 13.8 | 16.0 | 18.7 | 11.5 |
| KRBL LIMITED | 8,012 | 10.6 | 1.38 | 8.3 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 6,614 | 15.9 | 2.01 | 12.4 | 9.2 | 11.7 | 4.0 | 17.0 |
| KAVERI SEED CO. LTD. | 3,616 | 14.6 | 2.06 | 9.8 | 16.9 | 17.0 | 6.1 | 40.1 |
| TRUALT BIOENERGY LIMITED | 3,233 | 23.0 | 2.05 | 12.7 | 6.1 | 4.8 | — | 23.5 |
| INDRAYANI BIOTECH LTD. | 2,966 | 22.3 | 29.05 | 217.6 | 1.9 | 0.2 | 45.6 | 8.2 |
| AMIR CHAND JAG KUM (E) L | 2,165 | 20.7 | 2.34 | 12.7 | 11.2 | 14.8 | — | 9.5 |
| SANSTAR LIMITED | 1,839 | 54.6 | — | — | — | — | — | 8.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 524.9 | 12.6 | 53 of 53 | 0% |
| P/B | 1.3 | 1.5 | 21 of 51 | 60% |
| ROCE | 2.2 | 4.1 | 40 of 67 | 41% |
| ROE | 1.1 | 3.5 | 35 of 51 | 32% |
| Debt / Equity | 0.0 | 0.4 | 1 of 51 | 88% |
| Revenue growth | (100.0) | 10.3 | 47 of 51 | 2% |
| Profit growth | (25.2) | 16.6 | 35 of 51 | 32% |
| Market cap | 16 | 62 | 55 of 69 | 21% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 17 Oct 2026 · Routine compliance filing under SEBI Regulation 74(5) for Q2 FY26 | compliance | minimal | — | — |
| 30 Sept 2026 · 36th AGM Outcome: All 6 Resolutions Passed, Including MD Appointment | board shareholder meetings | low | — | — |
| 29 Sept 2026 · 36th AGM held on Sept 29, 2026; all 6 resolutions passed | board shareholder meetings | low | — | — |
| 29 Sept 2026 · AGM approves reappointment of 4 directors, confirms Managing Director | management changes | medium | — | — |
| 29 Sept 2026 · 36th AGM held on 29 Sept 2026 via video conferencing | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Newspaper notice for 36th AGM published on September 8, 2026 | compliance | minimal | — | — |
| 7 Sept 2026 · Letter to shareholders for Annual Report FY26 web-link access | compliance | minimal | — | — |
| 7 Sept 2026 · Annual Report FY2025-26 and AGM Notice filed with BSE | compliance | low | — | — |
| 5 Sept 2026 · 36th AGM notice and FY26 annual report filed with BSE | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 36th AGM on Sep 29, 2026 via VC; book closure Sep 23-29 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.