High ROE and high ROCE penny stock below Rs 80: This consumer foods manufacturing company reports stellar Q3FY24 & 9MFY24 results; PAT zooms over 700 per cent
The stock is down by 10 per cent from its 52-week high of Rs 84 while the stock is up by 33.71 per cent from its 52-week low of Rs 56.84.
Indian stock markets were trading lower today, with both the Sensex and Nifty falling marginally by 0.15 per cent and 0.16 per cent, respectively. Broader markets witnessed a steeper decline, with the BSE Mid-Cap and Small-Cap indices plunging by 2.30 per cent and 2.51 per cent, respectively. All sectoral indices were also in the red.
Though the market was in blood red, the shares of HMA Agro Industries Ltd were trading flattish, down 0.33 per cent to Rs 76.25 per share with an intraday high of Rs 79.82 and an intraday low of Rs 75.45. The stock is down by 10 per cent from its 52-week high of Rs 84 while the stock is up by 33.71 per cent from its 52-week low of Rs 56.84.
The company reported stellar Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the fiscal year 2024. Here are the details:
According to the quarterly results, the net sales increased by 62.89 per cent (YoY) and 4.29 per cent (QoQ) to Rs 1,251.72 crore in Q3FY24 while net profit increased by 75.43 per cent (YoY) and 772.27 per cent (QoQ) to Rs 49.16 crore in Q3FY24. In its nine-month results, the net sales increased by 49.14 per cent to Rs 3347.66 crore and net profit increased by 21.53 per cent to Rs 124.26 crore in 9MFY24 compared to 9MFY23.
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HMA Agro Industries Limited is a food trade organisation for handling food and agro products, including frozen fresh buffalo meat, prepared/frozen natural products, vegetables, and cereals in India.
Earlier, the company partnered with Maharashtra Food Processing & Cold Storage to expand its processing and packing abilities for frozen halal boneless buffalo meat, while it also strategically lowered their share price through dividends and a stock split from a face value of Rs 10 to Rs 1, to increase investor accessibility and position themselves for future market growth.
HMA Agro Industries Ltd has a market cap of over Rs 3,800 crore. The shares of the company have an ROE of 28.4 per cent and an ROCE of 24 per cent. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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