Recent Price Movements and Market Context
On the day of the new low, HMA Agro Industries Ltd's stock price rose by 2.92%, outperforming the Sensex which gained 0.14%. Over the past three days, the stock has posted consecutive gains totalling 4.04%, and outperformed its sector by 1.95% on the latest trading session. However, these short-term gains contrast with the broader downward trend observed over longer periods.
Examining moving averages, the stock currently trades above its 5-day moving average but remains below its 20-day, 50-day, 100-day, and 200-day moving averages, signalling a lack of sustained upward momentum. This technical positioning underscores the stock’s struggle to regain footing amid prevailing market conditions.
Long-Term Performance and Comparative Analysis
Over the last year, HMA Agro Industries Ltd has delivered a negative return of -30.49%, significantly underperforming the Sensex’s positive 6.71% return during the same period. Year-to-date performance also reflects a decline of -7.71%, compared to the Sensex’s modest fall of -1.60%. The stock’s three-month and one-month returns stand at -13.79% and -9.24% respectively, while the Sensex posted gains of 0.48% and losses of -2.22% over these intervals.
Longer-term figures reveal a stagnant performance with zero growth over three, five, and ten-year horizons, contrasting sharply with the Sensex’s robust gains of 37.83%, 65.68%, and 244.55% respectively. This persistent underperformance highlights the challenges faced by the company in generating shareholder value relative to the broader market.
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Financial Metrics and Fundamental Assessment
HMA Agro Industries Ltd’s financial profile reveals several areas of concern. The company has experienced a compound annual growth rate (CAGR) of -11.50% in operating profits over the past five years, indicating a contraction in core earnings. Its ability to service debt is limited, with a Debt to EBITDA ratio of 3.53 times, suggesting elevated leverage relative to earnings before interest, taxes, depreciation, and amortisation.
Profitability metrics also reflect subdued returns, with an average Return on Capital Employed (ROCE) of 7.28%, signalling modest efficiency in generating profits from total capital invested. Despite the company’s size, domestic mutual funds hold no stake in HMA Agro Industries Ltd, which may imply a cautious stance from institutional investors capable of detailed company analysis.
Recent Quarterly Results and Valuation Insights
In the quarter ending September 2025, the company reported a remarkable 14,865% growth in net profit, accompanied by a 747.9% increase in Profit Before Tax excluding other income (PBT LESS OI) to Rs.80.91 crores, compared to the previous four-quarter average. Net sales surged by 55.5% to Rs.2,155.34 crores, while Profit Before Depreciation, Interest and Tax (PBDIT) reached a quarterly high of Rs.95.46 crores.
Valuation metrics present a mixed picture. The company’s ROCE improved slightly to 7.9%, and it trades at an attractive enterprise value to capital employed ratio of 1.3, indicating a discount relative to its peers’ historical valuations. The price-to-earnings-to-growth (PEG) ratio stands at 0.5, reflecting the relationship between its price, earnings growth, and valuation.
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Sector and Market Positioning
Operating within the FMCG sector, HMA Agro Industries Ltd faces competitive pressures that have contributed to its subdued market performance. The stock’s Mojo Score currently stands at 37.0, with a Mojo Grade of Sell, downgraded from Strong Sell on 17 Nov 2025. The company’s market capitalisation grade is rated 3, reflecting its relative size and market standing.
Despite recent positive quarterly results, the stock’s long-term performance remains below par, with no gains recorded over three, five, and ten-year periods. This contrasts with the broader market’s substantial growth, underscoring the challenges the company faces in delivering sustained shareholder returns.
Summary of Key Performance Indicators
Performance metrics over various timeframes highlight the stock’s relative weakness:
- 1 Day: +2.92% vs Sensex +0.14%
- 1 Week: +4.28% vs Sensex +1.84%
- 1 Month: -9.24% vs Sensex -2.22%
- 3 Months: -13.79% vs Sensex +0.48%
- 1 Year: -30.49% vs Sensex +6.71%
- Year to Date: -7.71% vs Sensex -1.60%
- 3, 5, 10 Years: 0.00% vs Sensex +37.83%, +65.68%, +244.55%
These figures illustrate the stock’s persistent underperformance relative to the benchmark indices, despite occasional short-term gains.
Conclusion
HMA Agro Industries Ltd’s share price reaching an all-time low of Rs.23.55 on 4 Feb 2026 marks a significant point in its market journey. The company’s financial indicators, including declining operating profits, elevated leverage, and modest returns on capital, have contributed to its subdued valuation and market standing. While recent quarterly results show notable improvements in profitability and sales, the stock’s long-term performance remains challenged when compared with broader market indices and sector peers.
Investors and market participants continue to monitor the stock’s trajectory amid these mixed signals, with the company’s fundamental and valuation metrics providing a comprehensive view of its current position within the FMCG sector.
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