HMA Agro Industries board approves loan facility of ₹160 crore from HDFC Bank

Frozen meat exporter HMA Agro Industries Ltd. on Thursday announced that its Board of Directors approved a ₹160 crore credit facility from HDFC Bank. The sanction, which is subject to the terms outlined in the bank’s offer letter dated December 17, 2024, will be available for utilisation once the stipulated conditions are met.

The Board also took note of the closure of the trading window in connection with the company’s upcoming unaudited financial results for the quarter and nine months ending December 31, 2024.

The window will remain closed from January 1, 2025, until 48 hours after the results are declared, in line with SEBI’s insider trading regulations and the company’s code of conduct.

HMA Agro, which was listed on the domestic bourses in July last year, is an exporter of frozen buffalo meat products from India and accounts for more than 10 percent of India’s total export of frozen buffalo meat.

Its products are mainly packaged under the brand name “Black Gold”, “Kamil” and “HMA” and exported to over 40 countries globally.In a statement to the exchanges, it said it will proceed with the necessary documentation and security arrangements as part of the credit approval.

HMA Agro’s revenues for the initial nine months of FY23 stood at ₹2,371 crore. Some of the peers in the industry are Allanasons Private Ltd, Al-Hamd Agro Food Products Pvt Limited, Fair Exports (India) Pvt Limited, Mirha Exports Pvt Limited, Al-Dua Food Processing Private Limited, Rustom Foods Pvt Limited.

The company’s stock price fell 1.2% to close at ₹39.56 on Thursday.