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Uma Exports Limited (UMAEXPORTS)

₹19.95 -1.48% last close, 16 Oct

📊 NSE: UMAEXPORTS 🏢 Trading & Distributors 📢 Latest filing: 26 Sep 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Uma Exports' revenue was ₹208 Cr (-30.6% year on year, -21.0% on the previous quarter), and net profit ₹-0.3 Cr (against a profit a year earlier); the operating margin was 1.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹208	-30.6%	-21.0%
Operating profit	₹2.0	-65.5%	-87.6%
Net profit	₹-0.3	to loss	to loss
EPS (₹)	-0.10	to loss	to loss
Operating margin	1.0%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Uma Exports AGM Approves All 10 Resolutions Including Preferential Issue and Capital Increase

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 26 Sep 2026, 04:42 PM

Uma Exports announced the voting results of its 38th Annual General Meeting held on September 26, 2026. Shareholders approved all 10 resolutions with over 99.9% voting in favour, including the re-appointment of MD Rakhesh Khemka and CFO Manmohan Saraf. Crucially, investors passed an ordinary resolution to hike the Authorised Share Capital and a special resolution to issue equity shares or convertible warrants on a preferential basis. The total votes polled stood at 19,679,472, representing 58.21% of the total 33,809,830 outstanding shares.

All 10 resolutions approved with over 99.98% votes cast in favor
Shareholders approved preferential issuance of equity shares/convertible warrants (Resolution 10)
Approved increase in Authorised Share Capital and consequent amendment of MoA (Resolution 9)
Re-appointment of Managing Director Rakhesh Khemka and CFO Manmohan Saraf approved
Total voter turnout of 58.21% (19,679,472 votes polled out of 33,809,830 outstanding shares)

💡 Monitor subsequent filings regarding specific terms, allotment dates, issue price, and quantum of the planned preferential issue/warrant raise to assess dilution impact on the current market cap of Rs 62 Cr.

Uma Exports AGM Approves All 10 Resolutions Including Preferential Issue and Capital Increase

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 26 Sep 2026, 04:39 PM

All 10 resolutions approved with over 99.98% votes cast in favor
Shareholders approved preferential issuance of equity shares/convertible warrants (Resolution 10)
Approved increase in Authorised Share Capital and consequent amendment of MoA (Resolution 9)
Re-appointment of Managing Director Rakhesh Khemka and CFO Manmohan Saraf approved
Total voter turnout of 58.21% (19,679,472 votes polled out of 33,809,830 outstanding shares)

Uma Exports to Hold 38th AGM on Sep 26, 2026; Proposes 5-Year Terms for MD & CFO

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Sep 2026, 08:17 PM

Uma Exports Limited has issued the notice for its 38th Annual General Meeting (AGM) to be held on September 26, 2026. Key agenda items include the re-appointment of promoter Mr. Rakhesh Khemka as Managing Director for a 5-year term with a revised basic salary of Rs 2,00,000 per month, and Mr. Manmohan Saraf as Executive Director & CFO at a basic salary of Rs 1,25,000 per month. The company is also proposing the re-appointment of M/s Mamta Jain & Associates as Statutory Auditors for a 5-year term through FY31.

38th AGM scheduled for Saturday, September 26, 2026, at 11:30 AM via VC/OAVM.
Proposed re-appointment of MD Rakhesh Khemka (holding 79,87,500 shares) for 5 years from July 7, 2026, at Rs 2,00,000/month basic salary.
Proposed re-appointment of Executive Director & CFO Manmohan Saraf for 5 years from August 18, 2026, at Rs 1,25,000/month basic salary.
Re-appointment of Statutory Auditors M/s Mamta Jain & Associates for a 5-year term from the 38th AGM to the 43rd AGM in 2031.

💡 Track the e-voting results post-AGM on September 26, 2026, and watch upcoming quarterly financial updates to monitor margin improvement in domestic agro-processing.

Uma Exports Schedules 38th AGM for September 26, 2026; Book Closure from Sep 20

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Sep 2026, 08:13 PM

Uma Exports Limited has scheduled its 38th Annual General Meeting (AGM) for Saturday, September 26, 2026, at 11:30 AM IST through Video Conferencing. In connection with the AGM, the Register of Members and Share Transfer Books will remain closed from September 20, 2026, to September 26, 2026 (both days inclusive). This is a standard annual statutory compliance filing with no impact on business operations or financials.

38th Annual General Meeting scheduled for September 26, 2026, at 11:30 AM via VC/OAVM
Book closure period set from September 20, 2026, to September 26, 2026 (both inclusive)
Intimation submitted pursuant to Regulation 42 of SEBI LODR and Section 91 of the Companies Act, 2013

💡 Track the upcoming AGM notices and voting resolutions for updates on business strategy and corporate governance matters.

Uma Exports Sets Warrant Issue Price at Rs 24.16, Aiming to Raise Rs 54.36 Cr via 2.25 Cr Warrants

🟢 POSITIVE ⭐ 9/10

FUNDRAISE 📅 01 Sep 2026, 06:07 PM

Uma Exports has finalized the issue price for its proposed preferential allotment of 2,25,00,000 convertible warrants at Rs 24.16 per warrant, based on a registered valuer price of Rs 24.01. The total fundraise amounts to Rs 54.36 Cr, representing ~72.5% of the company's current market capitalization of Rs 75 Cr. The revised relevant date has been set to August 27, 2026, and the proposal will be placed before shareholders at the Annual General Meeting on September 26, 2026.

Approved preferential issuance of 2,25,00,000 convertible warrants
Issue price set at Rs 24.16 per warrant versus registered valuer price of Rs 24.01
Potential capital raise of Rs 54.36 Cr (~72.5% of current market cap of Rs 75 Cr)
Revised Relevant Date set to August 27, 2026, with AGM scheduled for September 26, 2026

💡 Track the outcome of shareholder voting at the Annual General Meeting on September 26, 2026, along with disclosures on the identity of allottees and end-use of proceeds.

Uma Exports Postpones 38th AGM to September 26, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Aug 2026, 07:13 PM

Uma Exports Limited has informed the exchanges that its 38th Annual General Meeting (AGM), previously scheduled for September 18, 2026, has been postponed to Saturday, September 26, 2026, due to administrative reasons. The meeting will be conducted via Video Conferencing / Other Audio Visual Means. The book closure period has been rescheduled to September 20–26, 2026, and the e-voting cut-off date is set for September 19, 2026.

38th AGM postponed from September 18, 2026, to September 26, 2026, at 11:30 AM
Meeting to be held through Video Conferencing (VC) / Other Audio Visual Means (OAVM)
Book closure period revised to September 20, 2026, through September 26, 2026
Cut-off date for e-voting eligibility fixed as September 19, 2026

💡 Shareholders intending to vote on AGM resolutions should note the revised remote e-voting cut-off date of September 19, 2026.

Uma Exports to Raise ₹54.36 Cr via Preferential Issue of 2.25 Cr Warrants at ₹24.16

🟢 POSITIVE ⭐ 9/10

FUNDRAISE 📅 20 Aug 2026, 07:20 PM

Uma Exports' Board has approved a preferential issue of 2.25 crore convertible warrants at an exercise price of ₹24.16 per warrant, aggregating to ₹54.36 crore. This proposed fundraise represents approximately 81% of the company's current market capitalisation of ₹67 crore. The allotment is split between promoter group entities (50 lakh warrants) and non-promoter investors (1.75 crore warrants), with 25% payable upfront and the remaining 75% payable upon exercise within 18 months. The Board also approved an increase in authorized share capital from ₹40 crore to ₹57 crore, subject to shareholder approval at the AGM on September 18, 2026.

Board approved issuance of 2,25,00,000 warrants at ₹24.16 per share, aggregating to ₹54.36 crore
Fundraise is sized at ~81% of the current market cap of ₹67 crore
Promoter entities (Sweta Khemka and Uma Agro Exports) to be allotted 50 lakh warrants, with non-promoters receiving 1.75 crore warrants
Increase in authorized share capital approved from ₹40 crore (4 crore shares) to ₹57 crore (5.7 crore shares)
Annual General Meeting scheduled for September 18, 2026, to seek shareholder approval

💡 Track shareholder voting outcomes at the AGM on September 18, 2026, followed by receipt of upfront subscription funds (25%) and subsequent disclosure of utilization towards planned processing capacity expansions.

Uma Exports approves ₹54.36 Cr preferential warrant issue at ₹24.16 per share

🟢 POSITIVE ⭐ 9/10

FUNDRAISE 📅 20 Aug 2026, 07:14 PM

Uma Exports Limited's Board approved the issuance of 2.25 crore convertible warrants on a preferential basis at an exercise price of ₹24.16 per warrant, aggregating to ₹54.36 crore. The proposed fundraise represents ~81% of the company's current market cap of ₹67 crore. The warrants will be allotted to both promoter group entities (50 lakh warrants) and non-promoter public investors (1.75 crore warrants), with 25% payable upfront and the balance upon conversion within 18 months. Additionally, the Board approved increasing authorized share capital from ₹40 crore to ₹57 crore, subject to shareholder approval at the AGM scheduled for September 18, 2026.

Proposed issue of 2,25,00,000 warrants at ₹24.16 each, aggregating to ₹54,36,00,000 (₹54.36 Cr)
Issue price of ₹24.16 is at a ~6% premium to the current market price of ₹22.80
Promoter group entities (Sweta Khemka & Uma Agro Exports) to subscribe to 50,00,000 warrants (₹12.08 Cr)
Authorized share capital proposed to be increased from ₹40.00 Cr to ₹57.00 Cr
AGM scheduled for September 18, 2026; 25% warrant subscription amount payable on allotment

💡 Track shareholder voting approval at the AGM on September 18, 2026, receipt of the upfront 25% warrant consideration (₹13.59 Cr), and management commentary regarding utilization of proceeds (working capital vs processing capacity expansion).

Uma Exports Q1 Consolidated Revenue Falls 30.6% YoY to ₹208.4 Cr; Swings to Net Loss of ₹0.32 Cr

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 14 Aug 2026, 06:37 PM

Uma Exports reported consolidated revenue from operations of ₹208.41 crore for Q1 FY27 (ended June 30, 2026), declining 30.6% YoY compared to ₹300.33 crore in Q1 FY26. The group slipped into a consolidated net loss of ₹0.32 crore versus a net profit of ₹0.43 crore in the year-ago period. Consolidated basic EPS dropped to ₹(0.10) compared to ₹0.13 in Q1 FY26. On a standalone basis, revenue stood at ₹193.33 crore with a net profit of ₹0.63 crore.

Consolidated revenue from operations fell 30.6% YoY to ₹20,841.06 lakhs (₹208.41 cr) from ₹30,032.91 lakhs
Consolidated PAT turned negative to a loss of ₹32.23 lakhs vs a profit of ₹43.23 lakhs in Q1 FY26
Consolidated diluted EPS deteriorated to ₹(0.10) vs ₹0.13 YoY
Standalone revenue came in at ₹19,333.48 lakhs with standalone PAT of ₹62.78 lakhs

💡 Monitor revenue stability in coming quarters and assess execution progress on the transition toward higher-margin domestic processing capacity (150,000 MTPA).

Uma Exports to invest ₹49 Lakhs for 49% stake in URJAHAAR FOODS Joint Venture

🟢 POSITIVE ⭐ 5/10

EXPANSION 📅 01 Aug 2026, 02:47 PM

Uma Exports has approved a 49:51 Joint Venture (JV) with M/s Kota Dall Mill to form 'URJAHAAR FOODS'. The company will contribute up to ₹49 Lakhs for its 49% stake, while the partner will act as the Managing Partner. The JV aims to manufacture fortified and energy-dense food products for institutional and government buyers, including the Bihar State Milk Co-operative Federation (COMFED/SUDHA). This move aligns with the company's strategy to pivot from low-margin commodity trading to higher-margin food processing.

Capital contribution of up to ₹49,00,000 for a 49% stake in the new partnership firm
Partner M/s Kota Dall Mill to hold 51% share and act as the Managing Partner
Targeting supply of fortified food products to institutional clients like COMFED (SUDHA)
Investment expected to be completed within a short timeframe of 15 days
Strategic shift to improve on the current thin TTM PAT of ₹1 Cr and 1.9% OPM

💡 Investors should monitor the JV's ability to secure firm purchase orders from government institutions and whether this leads to the targeted 1.5-2% margin improvement over the next few quarters.

Uma Exports Clarifies Unsigned FY26 Auditor Reports; Confirms Unmodified Opinion

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 14 Jul 2026, 12:46 PM

Uma Exports Limited has responded to an NSE query regarding unsigned standalone and consolidated auditor reports for the fiscal year ended March 31, 2026. The company clarified that the reports were digitally signed on May 30, 2026, but the signatures were inadvertently removed during the document merging process. The company has re-submitted the signed reports and confirmed that the statutory auditors, M/s. Mamta Jain & Associates, issued an unmodified opinion. For FY26, the company reported standalone revenue of ₹1,523.14 Cr and a thin net profit of ₹0.67 Cr.

Clarified that the missing digital signatures on FY26 audit reports were due to a clerical error during document merging.
Reported standalone FY26 revenue of ₹1,523.14 Cr, a decline from ₹1,668.38 Cr in FY25.
Standalone Net Profit for FY26 stood at ₹0.67 Cr, representing a razor-thin net margin of approximately 0.04%.
Finance costs for the standalone entity increased significantly to ₹32.73 Cr in FY26 from ₹11.81 Cr in FY25.
Confirmed the appointment of M/s. R Daga & Company as Internal Auditors for the 2026-27 financial year.

💡 Investors should focus on the company's stated strategy to pivot from trading to processing (150,000 MTPA capacity) to improve its currently negligible margins. Monitor if the high finance costs (₹32.73 Cr) can be optimized as the business model shifts.

0 Securities Received for Dematerialization in Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 13 Jul 2026, 01:22 PM

Uma Exports Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The Registrar and Share Transfer Agent, MAS Services Limited, confirmed that no physical securities were received for dematerialization during the quarter from April 1, 2026, to June 30, 2026. This is a standard procedural filing required for all listed companies to confirm the status of share conversions. It has no impact on the company's financial health or operational performance.

0 securities were received for dematerialization during the quarter ended June 30, 2026
Reporting period covers April 1, 2026, to June 30, 2026
Certificate issued by MAS Services Limited on July 2, 2026
Filing submitted to exchanges on July 13, 2026

💡 This is a routine administrative filing; investors should focus on upcoming quarterly financial results for material business updates.

Uma Exports Re-appoints MD and CFO for 5-Year Terms Starting July 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 04 Jul 2026, 04:10 PM

The Board of Uma Exports has approved the re-appointment of its core leadership team, including Managing Director Rakhesh Khemka and CFO Manmohan Saraf, for five-year terms starting July and August 2026 respectively. Additionally, three Independent Directors (Vivek Parasramka, Suman Agarwal, and Priti Saraf) were re-appointed for second five-year terms. These appointments ensure leadership continuity as the company manages a TTM revenue of ₹1,530 Cr with thin margins (1.9% OPM). All re-appointments are subject to shareholder approval.

MD Rakhesh Khemka re-appointed for a 5-year term effective July 7, 2026
CFO Manmohan Saraf re-appointed for a 5-year term effective August 18, 2026
3 Independent Directors re-appointed for second 5-year terms starting July 7, 2026
Leadership remains unchanged as the company targets a pivot to 150,000 MTPA processing capacity

💡 Monitor shareholder voting results for these re-appointments and track the company's progress in transitioning from low-margin trading to domestic processing to improve its current 1.9% operating margin.

Uma Exports Promoter Sumitra Devi Khemuka Sells 1.05 Lakh Shares (0.31% Stake)

🔴 NEGATIVE ⭐ 4/10

REGULATORY 📅 25 Jun 2026, 05:58 PM

Uma Exports Limited has disclosed a promoter stake sale under SEBI's Prohibition of Insider Trading regulations. Sumitra Devi Khemuka, belonging to the promoter group, sold 1,05,000 equity shares on June 24, 2026. This transaction represents approximately 0.31% of the company's total shareholding. While the stake sold is relatively small, promoter selling is typically monitored by investors as a signal of sentiment or liquidity needs.

Promoter Sumitra Devi Khemuka sold 1,05,000 equity shares in the open market.
The transaction accounts for 0.31% of the total shareholding of Uma Exports.
The sale took place on June 24, 2026, with the formal disclosure filed on June 25, 2026.
The disclosure was made in compliance with Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 Investors should observe if there are further sales by the promoter group in the coming weeks. Since the current sale is only 0.31%, it may not be a cause for immediate alarm, but it warrants a cautious watch on management's long-term commitment.

Uma Exports to Close Trading Window from July 1 for Q1 FY27 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Jun 2026, 11:57 AM

Uma Exports Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the release of the company's unaudited financial results for the quarter ended June 30, 2026. The trading window will remain closed until 48 hours after the financial results are declared to the exchanges. The specific date for the Board of Directors meeting to approve these results has not yet been finalized and will be communicated later.

Trading window closure scheduled to commence on July 1, 2026.
Closure pertains to the review of unaudited financial results for the quarter ended June 30, 2026.
Restriction applies to all Designated Persons and their immediate relatives as per the Company's Code of Conduct.
The window will reopen 48 hours after the official announcement of the quarterly results.

💡 No action is required as this is a standard regulatory compliance filing. Investors should await the announcement of the Board meeting date to evaluate the company's Q1 performance.

View All UMAEXPORTS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew by 12.5% YoY, reaching INR 1,724.04 Cr in FY25 compared to INR 1,532.43 Cr in FY24. Standalone revenue increased by 20.37% to INR 1,668.38 Cr, driven by a strategic shift toward domestic trading and imports.

Geographic Revenue Split

The company is transitioning from an export-heavy model to domestic markets; exports accounted for approximately 22% of revenue in Q1 FY24, but the focus has shifted to local manufacturing and processing to mitigate regulatory risks in international trade.

Profitability Margins

Profitability has significantly declined; Consolidated PAT dropped 65.6% to INR 3.50 Cr in FY25 from INR 10.18 Cr in FY24. The company reported a net loss of INR 1.06 Cr in H1 FY26, compared to a PAT of INR 4.82 Cr in H1 FY25, due to elevated finance costs and thin trading margins.

EBITDA Margin

EBITDA margins are thin due to the low-value-additive nature of trading; interest coverage ratio moderated sharply from 1.70x in FY24 to 0.52x in FY25, and stood at 0.76x in H1 FY26, indicating weakened ability to service debt from core operations.

Capital Expenditure

The company is investing in processing infrastructure, including the installation of a 100,000 MTPA Masoor (lentils) processing unit and a 50,000 MTPA edible oil facility to capture higher value-added margins.

Credit Rating & Borrowing

Ratings were downgraded in June 2025 to 'IVR BBB-/ Stable' (Long Term) and 'IVR A3' (Short Term) from 'IVR BBB/ Stable' and 'IVR A3+' respectively, reflecting moderated debt protection metrics and a total rated facility of INR 190.00 Cr.

⚙️ Operational Drivers

Raw Materials

Agro-commodities including Sugar, Masoor (Lentils), and Edible Oils represent the primary cost of goods sold, typically exceeding 95% of total expenditure in the trading model.

Import Sources

The company is shifting toward importing commodities for domestic processing, sourcing globally to meet Indian demand-supply gaps in pulses and edible oils.

Key Suppliers

Maintains a diversified supplier base of agricultural producers and international commodity aggregators; specific company names are not disclosed in the available documents.

Capacity Expansion

Current focus is on transitioning from pure trading to processing with a planned capacity of 100,000 tons per year for Masoor and 50,000 tons per year for edible oils to improve margins by 1.5% to 2%.

Raw Material Costs

Purchase of stock-in-trade and raw materials accounted for the bulk of the INR 1,732.38 Cr total consolidated expenditure in FY25, with margins highly sensitive to volatile global commodity prices.

Manufacturing Efficiency

Efficiency is currently measured by inventory turnover; the company aims to improve efficiency through local processing which adds a 'processing margin' on top of standard trading spreads.

Logistics & Distribution

Freight and handling expenses are a key cost component; for the quarter ended Sept 30, 2025, these costs are integrated into the overall expenditure to maintain competitive pricing in the domestic market.

📈 Strategic Growth

Expected Growth Rate

12.50%

Growth Strategy

The company is executing a pivot from international exports to domestic processing and import-substitution. By installing 150,000 MTPA of total processing capacity for pulses and oils, they aim to increase net profit margins by 1.5% to 2% through value addition rather than volume-based trading alone.

Products & Services

Traded and processed agricultural commodities including sugar, lentils (Masoor), food grains, and edible oils sold to domestic wholesalers and industrial buyers.

Brand Portfolio

Uma Exports Limited operates primarily as a B2B commodity trader and processor; specific consumer brand names were not disclosed.

New Products/Services

New focus on processed Masoor and refined edible oils, which are expected to contribute an additional 1.5-2% to the bottom-line margin compared to raw commodity trading.

Market Expansion

Aggressive expansion into the Indian domestic market to leverage rising local demand, reducing reliance on the export segment which previously accounted for 22% of revenue.

Market Share & Ranking

Operates in a highly fragmented industry with intense competition from both organized and unorganized players; specific market share percentage is not disclosed.

Strategic Alliances

The company operates through associates and joint ventures, which contributed a small share of profit (INR 0.47 Cr in FY25) to the consolidated results.

🌍 External Factors

Industry Trends

The industry is shifting toward organized processing and value addition; Uma Exports is positioning itself by moving away from volatile export markets (growing domestic demand) and investing in local processing infrastructure.

Competitive Landscape

Faces intense competition from numerous unorganized players and large organized trading houses, which limits bargaining power and keeps profit margins thin.

Competitive Moat

The company's moat is based on a 30-year operational track record and established supplier relationships, though this is tempered by low product differentiation and high industry competition.

Macro Economic Sensitivity

Highly sensitive to food inflation and GDP growth, as these drive domestic consumption of staples like sugar and pulses.

Consumer Behavior

Increasing domestic demand for processed and packaged agro-staples is driving the company's shift toward local manufacturing.

Geopolitical Risks

Trade barriers and global demand-supply dynamics for agro-commodities pose significant risks to the sourcing and pricing of imported goods.

⚖️ Regulatory & Governance

Industry Regulations

Operations are strictly governed by government regulations on essential commodities, including stock limits, export bans, and fluctuating import duty structures.

Environmental Compliance

ESG and environmental compliance costs are not specifically quantified but are relevant as the company expands into physical processing and manufacturing.

Taxation Policy Impact

Effective tax rate is influenced by deferred tax adjustments; in FY25, the company recorded a consolidated current tax of INR 0.37 Cr against a PBT of INR 3.75 Cr.

Legal Contingencies

The company monitors demand notices and litigations quarterly; however, specific case values in INR were not disclosed in the provided summary reports.

⚠️ Risk Analysis

Key Uncertainties

Government policy shifts regarding agro-commodity trade represent the highest uncertainty, with the potential to impact 100% of specific product line revenues overnight.