After 4 Months of Market Debut FMCG Stock To Consider Stock Split Soon: Do You Own?

HMA Agro Industries is a small-cap FMCG company which deals in meat products including poultry. On July 4, 2023, the stock debuted on the NSE at Rs 625, against the issue price of Rs 585, and opened at Rs 615 on the BSE. The Company's Board of Directors will meet on Wednesday, November 8, 2023, to discuss the stock split and the financial results for the quarter that ended on September 30, 2023.

"We hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 08th Day of November, 2023 at 03:00 P.M. at the Registered Office of the Company, inter alia to consider and approve the following proposals.

1. To consider and approve the unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter/half year ended on September 30, 2023 and

2. To consider and approve the proposal to sub-divide/split of the equity shares of the Company in such manner as may be determined by the Board of Directors and subject to approval of the shareholders and such authorities as may be required.

3. Any other matter as may be prescribed by the Board of Directors," said HMA Agro Industries in a stock exchange filing.

In terms of year-on-year (YoY) growth, HMA Agro reported a 794 per cent rise in net profit to Rs 44.05 crore for the quarter that concluded on June 30, 2023. The FMCG company had a net profit of Rs 4.93 crore for the corresponding quarter in the previous fiscal. Between April and June of 2023, revenue from operations grew by about 1,075 per cent to Rs 971.24 crore in Q1FY24 compared to Rs 82.62 crore in Q1FY23. The company's EBITDA climbed dramatically to Rs 73.05 crore in Q1FY24, up 91% from Rs 7.23 crore in the same period last year.

On Thursday, the shares of HMA Agro Industries were trading on the BSE at Rs 666.45 apiece. The scrip made a 52-week-high of Rs 839.95 (06/09/2023) and a 52-week-low of Rs 564.80 (13/07/2023). During Q2FY24, the company reported promoters' shareholding of 83.61%, FIIs stake of 8.02%, and public stake of 8.37%.