HMA Agro Industries Ltd

At HMA Agro Industries Limited, we deeply acknowledge the importance of environmental, social, and governance (ESG) aspects in driving sustainable development.

It is always a matter of pride and pleasure for me to pen down my thoughts at the conclusion of yet another exciting year at HMA. HMA?s journey in FY24 was a case of hard work and dedication. It was, in many ways a watershed year for HMA Agro Industries Limited. On one hand, it was a year of strong growth not just in terms of revenue and profitability, but also in terms of our strategic goals. On the other hand, it was a year where we made significant progress in terms of our ESG priorities and in terms of expanding our processing capabilities and portfolio expansion.

During the year, we focused on adapting to the changing aspirations of our clients, driven by our clear purpose and inherent strengths, as we persistently work towards shaping the future in a sustainable way. roughout the course of FY24, we focused on realigning our business development strategy in terms of enhancing the market presence of our non-meat products such as _sh, rice and fruits segments. Additionally, we concentrated our efforts on innovation within our existing portfolio and new market developments.

During the fiscal, we launched several new products across our portfolio. Also, during the year, we successfully completed a significant expansion program by operationalizing our new plant at Nuh District, Haryana via our subsidiary United Farm

Product Private Limited. is helped us enhance our technical and processing capabilities. Furthermore, the Company targeted emerging markets with a growing demand for meat products or capitalize on niche segments, such as organic or premium meat categories. We also worked on providing customized product solutions to cater to diverse consumer needs in different countries, enhancing customer satisfaction and loyalty.

Coming to our financial performance, we have achieved exceptional results, our total revenue stood at _46650.63 millions for FY24; 49.26% increase on a year-on-year basis. Our profit before tax stood at _1465.31 millions. is was mainly owing to the positive growth we achieved in some of our key focused product categories. As a result, our net profit stood at _1106.92 millions in FY24. Growth in revenues and profitability was largely driven by strong volume growth in the meat, _sh and rice products segment due to increased consumer acquisition and retention, market expansion and enhanced product availability.

At HMA Agro Industries Limited, we deeply acknowledge the importance of environmental, social, and governance (ESG) aspects in driving sustainable development. Over the course of the year, we have achieved noteworthy milestones in establishing a strong governance system and implementing a comprehensive policy framework to guide our ESG initiatives.

Our primary goal is to reduce carbon emissions, conserve natural resources, increase renewable energy use, and promote responsible business practices. Working on this strategy, we partnered with Avaada Indsolar Private Limited to incorporate solar power into some of our processing units. We plan to expand this initiative to all our facilities, demonstrating our dedication to providing sustainable benefits for our stakeholders and contributing to a cleaner, healthier planet.

We take it upon ourselves to ensure that our team is inclusive and representative of the communities we serve. It is essential to create a work environment that enables the thriving of a diverse community of individuals to ensure the recruitment and retention of top talent. We are delighted to announce that we have made significant progress in establishing a genuinely inclusive organization and a joyful work environment for our team throughout the year.

By diversifying our portfolio to include _sh, rice, and pet food, we aim to leverage our expertise, resources, and network to establish a market for these expanding product lines and cater to a broader clientele. While focusing on these new ventures, our primary objective remains to strengthen our leadership in the meat industry within existing markets and explore new regions with our high-quality product range. Our bu_alo meat products, sourced from healthy livestock and processed in state-of-the-art facilities, set a standard of premium quality that we plan to uphold as we enter new markets.

Going forward, our strategic plans include expanding into new markets, capitalizing on growth opportunities for product diversification, and prioritizing safe and health-conscious offerings. Additionally, we?ll enhance our technological and digital capabilities to adapt to changing market dynamics. HMA has strategically invested into a technologically advanced R&D infrastructure that focuses on not only stringent quality control measures but also product innovation.

With recession fears receding and economic recovery underway in several key global markets, we are confident that HMA is well-positioned to capitalize on upcoming growth opportunities as consumer demand is expected to rebound significantly. is presents an excellent opportunity for us to create value, particularly as we continue to focus on improving profitability and investing in initiatives aimed at optimizing our network, driving product innovation, and upgrading our IT infrastructure to lay the foundation for future growth. Our strengthened balance sheet gives us the financial flexibility to support this growth through strategic acquisitions and related diversifications. We are pleased with the start of the year and, although it?s still early, we remain confident in delivering on our FY25 targets within the range of current market expectations.

On behalf of every member of the HMA family, we thank our shareholders and our stakeholders for the trust they have bestowed on us. We are truly grateful for your sustained cooperation throughout our journey. Together, we will achieve a better and more sustainable future.