scorecardresearchHMA Agro Industries files initial papers with Sebi for <span class='webrupee'>₹</span>480-crore IPO

HMA Agro Industries files initial papers with Sebi for 480-crore IPO

Updated: 29 Mar 2022, 12:24 PM IST
TL;DR.

HMA Group has been involved in the meat industry for more than four decades.

HMA Agro Industries filed papers with SEBI for IPO

HMA Agro Industries filed papers with SEBI for IPO

Frozen meat exporter HMA Agro Industries has filed preliminary papers with market regulator Sebi for a 480 crore initial share sale.

The Initial Public Offering (IPO) will include a new issue of equity shares worth up to 150 crore and an Offer For Sale (OFS) of equity shares worth up to 330 crore.

The company will use the net proceeds worth 135 crore for funding working capital requirements as well as for general corporate purposes.

Wajid Ahmed will dispose of up to 120 crore worth of shares, while Gulzar Ahmad, Mohd Mehmood Qureshi, Mohd Ashraf Qureshi, and Zulfiqar Ahmad Quraishi will each offload shares worth 49 crore, according to the Draft Red Herring Prospectus (DRHP). Parvez Alam will also sell 14 crore worth of shares.

What is HMA Group?

The Agra-based company is one of India's major exporters of frozen buffalo meat products. Its products are sold in more than 40 countries throughout the world.

HMA Group has been involved in the meat industry for more than four decades.

Currently, the company exports to the United Arab Emirates, Iraq, Saudi Arabia, Oman, Bahrain, Jordan, Algeria, Egypt, Vietnam, Indonesia, Georgia, Malaysia, Cambodia, and other Middle Eastern, CIS, and African countries. Exports account for over 90% of the company's revenue.

It is currently one of India's third-largest exporters of frozen buffalo meat products, accounting for more than 10% of the country's total frozen buffalo meat exports.

The Indian government recognised the company as a star export house. The company's products are sold in many countries under the brand names "Black Gold," "Kamil," and "HMA." Frozen fresh deglanded Buffalo Meat is one of the company's main products.

The company recently expanded its product portfolio by adding Frozen Fish Products and Basmati Rice as new business verticals. It intends to expand into poultry and other agricultural products.

Financials

For the fiscal year 2021, its total income stood at 1720.40 crore against 2416.61 crore a year ago. Net profit for the period stood at 72.61 crore versus 45.90 crore last year. For the September quarter, its revenue was at 1479.77 crore while net profit stood at 63.21 crore. As of September, its total outstanding debt stood at 285.88 crore.

 Particulars For the period ended Sep 30,2021 ( in Million) March 31,2021 March 31, 2020March 31, 2019
 Share capital 158.38 37.27 37.27 37.27
 Networth 3,218.65 2,597.07 1,870.46 1,414.52
 Total Income( Including other Income) 14,797.69 17,203.96 24,166.13 27,840.29
 Profit after tax attributable to the owners of the company 629.02 726.13 458.97 311.65
 Basic and Diluted EPS 13.08 15.28 9.66 6.56
 Net asset value per share  67.74 54.66 39.37 29.77
 Total Borrowings  2,858.82 1,813.35 1,691.30 1,319.78
Source: DRHP (SEBI)    
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First Published: 29 Mar 2022, 12:24 PM IST