Corporate Feature     

Published: June 30, 2023
Updated: June 30, 2023

HMA Agro Industries

Global yen for its buffalo meat

HMA Agro Industries, the flagship of the HMA group, one of the largest food trade organisations for handled food and agro products and the first publicly-listed frozen buffalo meat exporting company on Indian stock exchanges, has embarked on a product diversification journey by adding frozen fish products, Basmati rice, poultry and other agro products as new business verticals. In fact, alongside its existing strong presence in the export of buffalo meat, the company is now venturing into food processing and expanding its export basket to include frozen fish and Basmati rice. With a strong presence in multiple global markets, the company has nurtured long-standing relationships with customers worldwide. Exports contributed over 90 per cent of the company’s revenues in 2022.

Last fortnight, the company entered the capital market with an IPO to raise Rs 480 crore, comprising a fresh issue of stocks worth Rs 150 crore and an offer for sale by existing shareholders worth Rs 330 crore. The issue was fully subscribed and the listing will take place in the first week of July 2023.

HMS Agro Industries, currently among the largest exporters of frozen buffalo meat products from India, accounts for more than 10 per cent of the country’s export of frozen buffalo meat, as per an analytical report by Brickworks. The company’s products are mainly packaged under the brand names ‘Black Gold’, ‘Kamil’ and ‘HMA’, and are exported to over 40 countries. Points out Gulzar Ahmed, Chairman and wholetime director of HMA Agro Industries, “The company deals with buffalo meat and allied products. Unlike beef or pork, buffalo meat is free from religious constraints and has the added advantage of low fat and cholesterol. The meat produced for export is in the form of deboned and deglanded halal buffalo meat. The company follows stringent regulations, including APEDA and ESSAI".

Maintaining that “ we are thrilled to launch the IPO and take the company public,” Gulzar Ahmad adds, “We are extremely happy that the IPO has been fully subscribed. After all, the company is one of the three leading buffalo meat exporting companies from India and is making strides with rising demand. Now, the company has added other agro products to its export basket.”

GLOBAL REACH

The parent organization, the HMA group, one of the biggest food trade organizations for food and agro products, including frozen fresh deglanded buffalo meat, prepared/frozen natural products, vegetables and cereals in India, has a total experience of 63 years. Says Mr Ahmed, “Today, HMA can be found in various nations and we have our sights set on expanding substantially. We are serving in around 60 nations worldwide and have transformed into a leading food chain organization. HMA group has a total strength of around 25,000 employees and workers in 10 workplaces and 5 working environments in India.”

With the rising demand for its products, the company is making rapid strides on the financial front, with revenues expanding from Rs 17,075 crore in fiscal 2021 to Rs 30,832 crore in fiscal 2022 and profit spurting from Rs 715.97 to Rs 1,176.21 crore. The pace of growth has continued in fiscal 2023 also. Prospects for the future are all the more promising as the company is expanding its product basket.