Any current/future new fundraising through debt or equity?

HOAC Foods India Limited does not have any requirement for debt or equity fundraising for the next 1.5 to 2 years. The company is focusing on utilizing existing resources for growth and expansion. Capex is ongoing to support increased demand, but no external fundraising is planned at this time. The management aims to maintain profitability and manage growth without additional capital infusion.

Any current/future capex/capital investment/strategic investment?

Current capex utilization is around 80%-85%, with 15% capacity available. New manufacturing plant in Vidisha, MP, covering 50,000 sq. ft., with initial operations starting in 20,000 sq. ft. Factory setup at Vidisha expected to be completed in 2.5 to 3 months. The new plant will boost atta (flour) segment production, contributing 45%-50% to revenue. Planned capex aims to support demand and enable 2.5 to 3 times higher production capacity compared to current plants. Long-term strategy is to add 10-11 retail outlets annually to ensure manageable and profitable growth. No additional debt or equity

Future growth expectations in sales/revenue/volumes?

The company expects very good revenue growth next year, targeting a 75%-80% growth rate (Page 11). They plan to expand their B2B presence, increasing store distribution from 1,400 to 5,000 stores in the coming year (Page 8). Their new manufacturing plant in Vidisha (50,000 sq. ft.) will increase capacity, potentially generating around INR 100 crores turnover at full capacity (Page 7). They aim to open 7-8 new retail outlets annually to maintain manageable and profitable growth (Page 7). Export business is growing steadily with 10 containers shipped to the UK and deals in the US, expect

Future growth expectations in earnings/operating earnings/profits/EPS?

The company delivered very good H1 FY26 results with revenues of INR21.84 crores, up 96.87%, and EBITDA of INR3.31 crores, up 105.13%. EPS improved by 67.13% to 4.78 in H1 FY26 from 2.86 in H1 FY25. Management expects to maintain a strong growth trajectory with a 75%-80% revenue growth anticipated for the next year. Profit margins are expected to remain strong, focusing on quality products to sustain margins amidst expansion. Expansion of B2B distribution (from 1,400 stores aiming for 5,000 stores next year) and export growth will drive revenue growth. Operating leverage is limited c

Current/ Expected Orderbook/ Pending Orders?

HOAC Foods has secured a U.S. export deal with an initial order of one container worth around INR 60-70 lakhs. Currently, 2-3 containers are in the pipeline for the U.S. market. Overall, there are 5-6 containers pending in the export order pipeline. The company has shipped 10 containers in the last six months but is still establishing and growing the export business. Export division is handled by a team with 15-20 years of experience, indicating focus on scaling export orders.

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Hoac Foods India LtdQ3 FY26Food Products

Hoac Foods India Ltd Q3 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹738P/E: 52.6Market Cap: ₹191 CrSector: Food Products

Management growth scorecard

Revenue

Category 1

Margin

Category 3

Fundraise

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 1

→The company expects very good revenue growth next year, targeting a 75%-80% growth rate (Page 11).
→They plan to expand their B2B presence, increasing store distribution from 1,400 to 5,000 stores in the coming year (Page 8).
→Their new manufacturing plant in Vidisha (50,000 sq. ft.) will increase capacity, potentially generating around INR 100 crores turnover at full capacity (Page 7).
→They aim to open 7-8 new retail outlets annually to maintain manageable and profitable growth (Page 7).
→Export business is growing steadily with 10 containers shipped to the UK and deals in the US, expected to contribute more over time (Page 9-10).
→The company is focusing on strengthening direct B2C sales through their own stores and app, which currently contributes about 54% of revenue (Page 13).
→Overall growth will be fueled by product quality, expanded distribution, capacity enhancement, and strong export demand.

Margin guidance

Category 3

→The company delivered very good H1 FY26 results with revenues of INR21.84 crores, up 96.87%, and EBITDA of INR3.31 crores, up 105.13%.
→EPS improved by 67.13% to 4.78 in H1 FY26 from 2.86 in H1 FY25.
→Management expects to maintain a strong growth trajectory with a 75%-80% revenue growth anticipated for the next year.
→Profit margins are expected to remain strong, focusing on quality products to sustain margins amidst expansion.
→Expansion of B2B distribution (from 1,400 stores aiming for 5,000 stores next year) and export growth will drive revenue growth.
→Operating leverage is limited currently due to ongoing capex and expansion costs; margin increase beyond 10% is unlikely immediately.
→The company plans to open 7-8 new retail stores annually to fuel growth, with automated plants supporting scalable operations.
→Management maintains commitment to delivering consistent, strong financial performance while strengthening customer and investor trust.

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Fundraise plans

→HOAC Foods India Limited does not have any requirement for debt or equity fundraising for the next 1.5 to 2 years.
→The company is focusing on utilizing existing resources for growth and expansion.
→Capex is ongoing to support increased demand, but no external fundraising is planned at this time.
→The management aims to maintain profitability and manage growth without additional capital infusion.

Order book

Yes

→HOAC Foods has secured a U.S. export deal with an initial order of one container worth around INR 60-70 lakhs.
→Currently, 2-3 containers are in the pipeline for the U.S. market.
→Overall, there are 5-6 containers pending in the export order pipeline.
→The company has shipped 10 containers in the last six months but is still establishing and growing the export business.
→Export division is handled by a team with 15-20 years of experience, indicating focus on scaling export orders.

Capex plans

Yes

→Current capex utilization is around 80%-85%, with 15% capacity available.
→New manufacturing plant in Vidisha, MP, covering 50,000 sq. ft., with initial operations starting in 20,000 sq. ft.
→Factory setup at Vidisha expected to be completed in 2.5 to 3 months.
→The new plant will boost atta (flour) segment production, contributing 45%-50% to revenue.
→Planned capex aims to support demand and enable 2.5 to 3 times higher production capacity compared to current plants.
→Long-term strategy is to add 10-11 retail outlets annually to ensure manageable and profitable growth.
→No additional debt or equity fundraising is expected in the next 1.5 to 2 years to support expansion.
→Overall capex supports scaling operations without compromising quality or working capital strength.

How does Hoac Foods India Ltd rank vs peers in Food Products?

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