Shares of this small-cap FMCG stock under Rs 100 jumped approximately 4 percent in Friday’s trading session after the company announced financial results for Q3FY23-24, i.e., for the quarter ended December 2023.
With a market capitalization of Rs 3,886.47 crores, the stocks of HMA Agro Industries Limited started their trading session on Friday at Rs 78.98 and currently trade at Rs 77.61. The scrip witnessed an intra-day high price of Rs 79.82 exhibiting a gain of 4 percent compared to the previous closing levels of Rs 76.50 apiece.
Such bullish stock price movements were witnessed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced its financial results for the quarter ended December 2023.
On a sequential basis, the company reported an increase in its prime business indicators, viz, revenue from operations as well as after-tax profits.
The former rose marginally from Rs 1,200 crores during Q2FY23-24 to Rs 1,252 crores during Q3FY23-24, and the latter, keeping the timeframe the same, took a drastic shift from Rs 6 crores to Rs 49 crores exhibiting an increase of a huge 733 percent.
In addition to the above, the company, on a yearly basis too, reported an increase in the abovementioned metrics with the operating revenues shifting up from Rs 769 crores during Q3FY22-23 to Rs 1,252 crores during Q3FY23-24, and the bottom-line numbers, during the same horizon, moving up from Rs 28 crores to Rs 49 crores.
Historically, the company has been able to maintain healthy profitability ratios in FY22-23. The return on equity (RoE) was reported at 25.38 percent and the return on capital employed (RoCE) was reported at 34.15 percent.
As per the latest shareholding data for the December 2023 quarter, the company’s Promoters hold a 83.61 percent stake, and the Foreign Institutional Investors (FIIs) hold a 7.4 percent stake in the company.
Founded in 2008, HMA Agro Industries Limited is a food trade company based in India that is engaged in the business of handling food and agro products including vegetables, cereals,
meat, and other natural products. The company’s products are self-branded and are exported to more than 35 countries.
Written by Amit Madnani
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