HMA Agro Industries Limited — Important, 07-02-2025: Updates

**Financial Highlights:** HMA Agro Industries reported revenue of ₹1,364.77 crore in Q3 FY25, a slight decrease from ₹1,366.61 crore in Q2 FY25. Year-to-date (9M FY25) revenue increased by 2.32% to ₹3,425.32 crore compared to ₹3,347.66 crore in 9M FY24. EBITDA surged 35.08% to ₹531.88 crore during Q3 FY25, with a nine-month EBITDA of ₹1,030.49 crore, down from ₹1,797.18 crore YoY. Profit before tax rose by 28.89% in Q3 to ₹445.32 crore, totaling ₹859.75 crore for 9M FY25, while profit after tax increased by 35.55% in Q3 to ₹340.63 crore, reaching ₹616.49 crore YTD, a decrease from ₹1,242.60 crore in the previous year.

**Strategic Initiatives and Growth Drivers:** The company continues to leverage its five-star export house status to enhance global credibility, enabling competitive edge in international markets.

**Market Position and Competitive Advantage:** HMA is positioned strongly in the frozen buffalo meat export sector, with expanding operations in Malaysia following a significant MOU aimed at improving trade efficiencies.

**Investor Implications:** Investors should watch HMA's cost management and revenue growth strategies that will define its ability to recover profitability momentum in the coming quarters despite recent declines in year-on-year financial performance. Positive outlook anticipated, especially with international expansion efforts.