HMA Agro Industries IPO

The HMA Group has been in the meat industry for over four decades and is a three-star export house recognised by the Government of India. The company is currently among the largest exporters of frozen buffalo meat products from India, at more than 10% of India’s total export of frozen buffalo meat (Source: Brickworks Analytics Report). Their products are mainly packaged under the brand name “Black Gold,” “Kamil,” and “HMA,” and are exported to over 40 countries worldwide.

In order to take advantage of its robust export business and well-established distribution channels across 40 countries, HMA Agro Industries have recently diversified its product portfolio by adding frozen fish products, basmati rice, and planning to start poultry and other agri products as business verticals.

In the last few years, HMA Agro Industries have strategically been shifting towards higher margin markets which are visible in their financial results wherein their EBIDTA margins have increased from 3.25% in FY20 to over 5.60% in FY22.