Hoac Foods India Limited (HOACFOODS)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Hoac Foods' revenue was ₹20.0 Cr (+138.1% year on year, -29.4% on the previous quarter), and net profit ₹2.1 Cr (+273.0% year on year); the operating margin was 15.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹20.0 | +138.1% | -29.4% |
| Operating profit | ₹3.1 | +225.3% | -17.2% |
| Net profit | ₹2.1 | +273.0% | -15.0% |
| EPS (₹) | 4.71 | +218.2% | -55.0% |
| Operating margin | 15.4% | — | — |
HOACFOODS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the HOACFOODS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 97.4%. That is close to its usual level. Turnover was only ₹4 lakh, so a handful of trades can move this figure. Volume was 0.1 times its average, well below normal. It closed at its lower price band (circuit) on 16 Oct, one of 4 band closes in about the last 20 sessions.
Delivery in the last 5 sessions: 100.0% · 71.4% · 100.0% · 75.0% · 100.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
HOAC Foods India released its H1 FY27 business update highlighting retail and geographic expansion. The company entered Madhya Pradesh with its first 240 sq. ft. store in Bhopal alongside a new franchise outlet in Gurugram. Its footprint now covers 23+ company-owned and franchise outlets, over 4,000 kirana stores in general trade, and a product portfolio exceeding 235 SKUs. Export markets currently include the UK, US, and Australia, while total active consumers reached approximately 1.2 lakh.
- General trade presence expanded to over 4,000 kirana stores
- Retail network spans 23+ company-owned and franchise outlets catering to ~1.2 lakh consumers
- Entered Madhya Pradesh with a 240 sq. ft. retail outlet in Bhopal backed by a regional operations team
- Portfolio breadth maintained at 235+ SKUs across flour, spices, pulses, rice, and edible oils
- Active export shipments continuing across United Kingdom, United States, and Australia
HOAC Foods India Limited has announced the voting results of its 8th Annual General Meeting held on September 30, 2026. Shareholders approved all three ordinary resolutions with 100% votes cast in favor. The resolutions included adopting the FY26 audited financial statements, re-appointing Mr. Yashwant Thakur as director retiring by rotation, and approving material related-party transactions with subsidiary HOAC Exports Private Limited. For the related-party resolution, 7 promoter-group members holding 26,94,760 shares abstained from voting as required by SEBI regulations.
- All 3 ordinary resolutions passed with 100% votes cast in favor
- Adoption of FY26 financial statements approved with 27,40,335 votes in favor (16 members)
- Re-appointment of director Mr. Yashwant Thakur approved with 27,40,235 votes in favor (15 members)
- Approval of material related-party transactions with HOAC Exports Private Limited passed with 45,575 public votes, with 7 promoter-related members holding 26,94,760 shares abstaining
- AGM was conducted via Video Conferencing on September 30, 2026, lasting 27 minutes (03:00 PM to 03:27 PM IST)
HOAC Foods India Limited concluded its 8th Annual General Meeting for FY 2025-26 on September 30, 2026, via video conferencing. The key agenda items placed before shareholders included the adoption of FY26 financial statements, the reappointment of director Mr. Yashwant Thakur, and approval for material related party transactions with subsidiary HOAC Exports Private Limited. The meeting commenced at 03:00 PM IST and wrapped up within 27 minutes at 03:27 PM IST. Combined voting results and scrutinizer reports are scheduled to be disclosed within two working days.
- Concluded the 08th AGM held on September 30, 2026, within 27 minutes (03:00 PM to 03:27 PM IST)
- Put forth 3 ordinary resolutions including adoption of FY26 audited accounts and reappointment of Mr. Yashwant Thakur
- Sought shareholder approval for material related party transactions with subsidiary HOAC Exports Private Limited
- Final scrutinizer report and e-voting tally to be declared within two working days
HOAC Foods India Limited has announced its scheduled participation in the Bharat Connect Virtual Conference Rising Star 2026 organized by Arihant Capital. The virtual one-on-one meeting is set for Friday, September 25, 2026, at 04:00 PM. The company stated discussions will strictly rely on generally available information without any unpublished price-sensitive information.
- Conference participation scheduled for Friday, September 25, 2026
- Meeting time fixed at 04:00 P.M.
- Format specified as a virtual one-on-one meeting organized by Arihant Capital
- Company confirmed discussions will not involve Unpublished Price Sensitive Information (UPSI)
Hoac Foods India Limited has informed the exchange that its management will participate in the Arihant Capital Bharat Connect Virtual Conference Rising Star 2026. The one-on-one virtual meeting is scheduled for Friday, September 25, 2026, at 04:00 PM. The company noted that discussions will rely strictly on publicly available information without any unpublished price-sensitive information (UPSI). With a market cap of Rs 295 Cr and TTM revenue of Rs 84 Cr, this represents a routine investor outreach interaction.
- Meeting scheduled for Friday, September 25, 2026, at 04:00 PM
- Format is a virtual one-on-one conference organized by Arihant Capital
- No Unpublished Price Sensitive Information (UPSI) to be discussed as per disclosure
- Document intimated on September 17, 2026 under Regulation 30
HOAC Foods India Limited has issued the notice for its 8th Annual General Meeting scheduled for September 30, 2026. A key item on the agenda is seeking shareholder approval for material related-party transactions (RPTs) worth up to ₹44 crore during FY 2026-27 with subsidiary HOAC Exports Private Limited. This ₹44 crore limit equals 87.14% of the company's FY 2025-26 consolidated turnover (₹50.49 crore) and compares to TTM revenue of ₹84 crore. The transactions comprise ₹12 crore in sales, ₹4 crore in purchases, and ₹15 crore in inter-corporate loans (with ₹13 crore loan repayments).
- Proposed RPT with subsidiary HOAC Exports Pvt Ltd capped at ₹44 crore for FY 2026-27
- Proposed transactions represent 87.14% of FY 2025-26 consolidated turnover of ₹50.49 crore
- Breakdown includes ₹12 crore sales, ₹4 crore purchases, ₹15 crore loan given, and ₹13 crore loan repaid
- HOAC Exports FY 2025-26 financials show turnover of ₹3.64 crore, PAT of ₹1.01 lakh, and net worth of ₹58,058
- AGM scheduled for September 30, 2026, with remote e-voting from September 27 to September 29, 2026
HOAC Foods India's Board has approved a material related party transaction (RPT) with its subsidiary, HOAC Exports Private Limited, for an aggregate value up to ₹44 crore for FY 2026-27, subject to shareholder approval. This transaction limit is significant, representing approximately 52.4% of the company's TTM revenue of ₹84 crore, highlighting an aggressive push into export channels. The board also convened the 8th AGM for September 30, 2026, and recommended the re-appointment of Director Yashwant Thakur, who is the son of Managing Director Rambabu Thakur.
- Material RPT limit of up to ₹44 crore proposed with subsidiary HOAC Exports Private Limited for FY 2026-27.
- Proposed ₹44 crore transaction represents ~52.4% of TTM revenue (₹84 crore).
- 8th Annual General Meeting scheduled for Wednesday, September 30, 2026, at 03:00 P.M. via VC/OAVM.
- Recommended re-appointment of Director Yashwant Thakur (retiring by rotation), who holds 3 years of FMCG experience.
HOAC Foods India Limited has informed the exchange regarding the relocation of its registered office within local limits in Dwarka, New Delhi. The corporate office has shifted from D-498 to G-126, First Floor, Palam Extension, Sector 7 to accommodate team expansion and support business activities. The change will take effect after obtaining approval from the Registrar of Companies (ROC). This is an administrative update with no material impact on the company's financial performance.
- Relocated registered office within local limits in Dwarka, New Delhi
- New address is G-126, First Floor, Palam Extension Sector 7, Dwarka, New Delhi – 110045
- Effective date of change is post-approval from the Registrar of Companies (ROC)
- Relocation undertaken to accommodate expanding team and operational infrastructure
HOAC Foods India Limited reported a robust performance for Q1 FY27, with consolidated revenue from operations surging 138% YoY to ₹20.05 Cr compared to ₹8.42 Cr in Q1 FY26. Net profit for the quarter grew by 273% YoY to ₹2.09 Cr, up from ₹0.56 Cr in the year-ago period. The company also provided an update on its July 2025 QIP proceeds, noting that ₹3.10 Cr remains unutilized and is currently parked in fixed deposits. This growth reflects the company's aggressive expansion into international markets and quick-commerce platforms.
- Consolidated Revenue from operations increased by 138.2% YoY to ₹2,004.74 Lakhs.
- Consolidated Profit After Tax (PAT) surged 272.7% YoY to ₹208.89 Lakhs.
- Earnings Per Share (EPS) improved significantly to ₹4.71 from ₹1.49 in the corresponding quarter last year.
- Total expenses rose to ₹1,723.02 Lakhs, with cost of materials consumed being the largest component at ₹1,163.50 Lakhs.
- Out of ₹922.77 Lakhs net QIP proceeds, ₹612.77 Lakhs has been utilized as of June 30, 2026.
Financial Performance
Revenue Growth by Segment
Total income grew by 96.87% YoY in H1 FY26, reaching INR 21.84 Cr compared to INR 11.09 Cr in H1 FY25. The B2B segment has been aggressively scaled to supply over 1,400 outlets, while the export segment commenced with 10 containers to the UK and a confirmed INR 0.60 Cr order from the USA.
Geographic Revenue Split
Primarily India-focused with significant expansion into Tier 2 and Tier 3 areas. International revenue is emerging through the 75% owned subsidiary HOAC Exports Private Limited, which has exported 10 containers to the UK and secured a maiden USA order of approximately INR 60 lakhs.
Profitability Margins
Profit Before Tax (PBT) for FY25 was INR 3.48 Cr, a 155.7% increase from INR 1.36 Cr in FY24. Net margins are supported by in-house manufacturing of 135+ products out of a 200+ SKU portfolio, reducing reliance on third-party processors.
EBITDA Margin
EBITDA margin stood at 15.15% in H1 FY26, with EBITDA rising 105.13% YoY to INR 3.31 Cr from INR 1.61 Cr. This margin expansion is driven by strong sales volume and the operational efficiency of automated production lines.
Capital Expenditure
The company utilized IPO proceeds to establish a record-breaking financial base and credibility. Planned scaling includes expanding the retail footprint to 200–300 outlets, requiring significant investment in automated production and franchise support infrastructure.
Credit Rating & Borrowing
Not disclosed in available documents; however, the company transitioned from a Private Limited to a Public Limited entity in 2023 and listed on NSE Emerge to strengthen its financial position.
Operational Drivers
Raw Materials
M.P. Sharbati Wheat (primary input for flagship flour), various herbs, spices, unpolished pulses, grains, rice, and edible oils. Raw materials represent the bulk of the cost of goods sold for their 200+ SKU portfolio.
Import Sources
Primarily sourced from India, specifically Madhya Pradesh for Sharbati wheat, and other domestic regions for spices and pulses to ensure freshness and quality for their premium niche.
Key Suppliers
Not disclosed in available documents; however, the company maintains a network of franchisee partners and suppliers to support its 5-pillar business model.
Capacity Expansion
Currently operating with a fully automated production backbone. The roadmap includes scaling operations to support 200–300 retail outlets without quality dilution, up from the current supply network of 1,400+ B2B outlets.
Raw Material Costs
Raw material costs are a significant portion of the INR 21.72 Cr operating income. The company mitigates cost volatility by manufacturing 135+ products in-house, allowing for better margin control compared to outsourced models.
Manufacturing Efficiency
High efficiency achieved through automation, enabling the company to transition from a traditional flour business to a multi-segment FMCG company with the capability to manage 200-300 outlets seamlessly.
Logistics & Distribution
Distribution is handled through a multi-channel approach: brand retail outlets, a D2C mobile app/website, and quick-commerce platforms like Blinkit for the flagship MP Sharbati Atta.
Strategic Growth
Expected Growth Rate
96.87%
Growth Strategy
Expansion into international markets (USA, UK, Canada, Australia), listing flagship products on quick-commerce platforms like Blinkit, and scaling the B2B vertical in Tier 2 and Tier 3 cities. The company is also expanding its retail footprint toward a target of 300 outlets.
Products & Services
Chakki Atta (MP Sharbati), herbs, spices (Channa masala, chaat masala), unpolished pulses, grains, rice, and edible oils sold under the 'HARIOM' brand.
Brand Portfolio
HARIOM, Hariom Atta & Spices
New Products/Services
Recently listed 'MP Sharbati Atta' on Blinkit to capture the quick-commerce market. Entry into the United States market via HOAC Exports Private Limited with an initial order of INR 60 lakhs.
Market Expansion
Active expansion into the USA (first container scheduled for late 2025), UK (10 containers shipped), and advanced discussions for entry into Canada and Australia.
Market Share & Ranking
Positioned as a premium niche player in the flour and spice market, differentiating itself from mass-market giants like Aashirvaad through personalization and freshness.
Strategic Alliances
Partnerships with quick-commerce platforms like Blinkit and a 75% stake in the subsidiary HOAC Exports Private Limited to drive global growth.
External Factors
Industry Trends
The industry is shifting from unorganized local flour mills to organized, automated FMCG brands. HOAC is positioning itself for this shift by offering 200+ SKUs and leveraging quick-commerce (Blinkit) for faster delivery.
Competitive Landscape
Competes with mass-market giants like Aashirvaad but carves a niche in the premium, fresh, and customized segment of the FMCG market.
Competitive Moat
Moat is built on a '5-pillar business model' (retail, franchise, B2B, manufacturing, export) and a premium brand image ('HARIOM'). Sustainability is driven by in-house manufacturing of 67% of its SKUs, ensuring quality control that mass-market competitors may lack at scale.
Macro Economic Sensitivity
Highly sensitive to agricultural inflation in India, particularly wheat and spice prices, which directly affects the cost structure of the FMCG portfolio.
Consumer Behavior
Increasing consumer preference for 'quality and purity' and 'freshness' in staples like flour and spices, moving away from mass-produced, long-shelf-life products.
Geopolitical Risks
Trade barriers or export-import restrictions in the USA, UK, Canada, or Australia could impact the growth of the newly formed export subsidiary.
Regulatory & Governance
Industry Regulations
Complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and maintains an in-house laboratory to meet food safety and quality standards.
Taxation Policy Impact
Subject to standard Indian corporate tax rates; GST registered under 07AAECH4665B1ZS.
Legal Contingencies
Not disclosed in available documents; secretarial audit reports adherence to good corporate practices.
Risk Analysis
Key Uncertainties
Success of international expansion in the USA and UK markets, which are new territories for the company. Potential impact of 10-20% on revenue if global supply chain issues delay container shipments.
Geographic Concentration Risk
Heavy concentration in Northern India (New Delhi/Dwarka) and Tier 2/3 areas, though diversifying through new export operations.
Third Party Dependencies
Low dependency for manufacturing (135+ products in-house), but dependent on franchise partners for the planned 200-300 outlet expansion.
Technology Obsolescence Risk
The company has mitigated this by implementing 'fully automated production' and a D2C mobile application to stay ahead of traditional competitors.
Credit & Counterparty Risk
Exposure to B2B receivables from 1,400+ outlets and international buyers in the UK and USA.
