Hoac Foods India Ltd(HOACFOODS)

NSE: HOACFOODS

₹ 948.1+0.00%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 412 crUpdated: 24 Oct 2026

About

Hoac Foods India Ltd makes and sells chemical-free staples under the brand Hariom Atta & Spices, including chakki atta, unpolished pulses, grains, spices, dry fruits and mustard oil. It calls itself North India's largest fresh atta grocery chain. It sells through its own and franchise stores, general-trade kirana stores, its own app and website, and exports. Revenue was Rs 50.11 Cr in FY26.^[1][2]

Revenue by channel

FY26 revenue mix: B2B supply to general-trade stores 52.34%, company-owned outlets 21.83%, franchise outlets 18.65%, exports 7.18%.^[3]
H1 FY26 revenue mix: B2C 54%, B2B 37%, exports 8.23%.^[4]
Until B2B launched in Q4 FY25, all prior revenue of INR 26.47 crores came from B2C.^[5]
Gross margin in FY26: about 35% for B2C and 20-22% for B2B.^[3]

Products and brands

Flour makes up 50 - 55% of total revenue (FY25). The flour range includes MP Sharbati Atta, MP Lok One Atta and Multi-grain Atta.^[1]
The product range had 235+ SKUs in H1 FY27, up from 200+ in Q4 FY25. The FY25 annual report gives growth from 175 SKUs.^[6][5][1]
Value-added products such as badi, pickles, papad and ready-to-eat items made up 9-10% of revenue at the Q4 FY26 call.^[3]
Mustard oil production was scaled up 5x in FY25, and new cold-pressed variants were added.^[1]
15-20 new value-added products, including ready-to-eat items, pickles, papad and peanut oil, are planned for launch in FY27.^[3]

Manufacturing

The existing plant ran at 95% utilisation in FY26, up from 80-85% in H1 FY26. It produces 20 tons/day across combined shifts.^[3][4]
The Gurugram plants cover 12,000 sq ft combined (H1 FY26).^[4]
Manufacturing is done fully in-house. The unit has its own quality-testing laboratory and a Quality Division (FY25).^[1]
Fully automated machines installed in the new factory in FY25 save about INR 1 crore a year in labour cost, according to management.^[5]
Wheat, rice, grains and spices (especially chili) are bought directly from procurement hubs (FY25).^[1]
Sudden new demand in FY26 forced raw material purchases in the off-season at higher cost.^[3]

Stores and distribution

The company had 23+ company-owned and franchise outlets in H1 FY27, against 19 (7 company-owned, 12 franchise) in H1 FY26.^[6][4]
Eight new stores opened in FY26, including the first store outside Delhi-NCR, in Bhopal.^[3]
General-trade reach was over 4,000 kirana stores in H1 FY27, up from 1,400 in H1 FY26. Sales now go through distributors, each covering 250-300 stores.^[6][4]
The consumer base was approximately 1.2 lakh in H1 FY27.^[6]
Online sales through the company's own website and app brought in INR 2.5-3 crores a year in FY26. Spending was moved there from Blinkit, which charges a 30-32% margin.^[3]
The company has a strategic tie-up with Country Delight to supply MP Sharbati flour (FY25).^[1]
Debtor days fell to 62 in FY26 from 112 after the move to distributors.^[3]

Exports

Exports, run through subsidiary HOAC Exports Pvt. Ltd., reached 3 countries in H1 FY27. Shipments have gone to the UK, US and Australia.^[6][3][1]
By H1 FY26, 10 containers had been shipped to the UK. Spices and oils are the main export products.^[4]
Exports are sold on advance payment, and management reports repeat orders on almost every container (FY26).^[3]

Expansion and capex

The new 50,000 sq ft Vidisha (MP) factory was 75% built at the Q4 FY26 call. It will raise atta capacity from 10 to 40-50 tons/day on one shift.^[3][4]
FY27 capex of INR 4.5-5 crores for the Vidisha factory will be funded by project loans and internal funds.^[3]
A peanut oil line of 4,000 liters/day is being set up in the new factory.^[3]
The plan for FY27 is 9-10 new stores across MP, Nagpur, Maharashtra and other metro cities.^[3]

Recent developments

Oct 06, 2026: the company reported a new 240 sq. ft. outlet in Bhopal and a new franchise outlet in Gurugram in H1 FY27.^[6]
After FY25, the company raised about ₹9.99 crore through a QIP at ₹201 per share.^[1]
The IPO in May 2024 was oversubscribed 1,834x and listed at a 206% premium.^[1]

Market Cap

₹412 Cr

High / Low

₹1,110 / 245

Stock P/E

97.7

Price / Book

17.1

Book Value

₹58

EPS

₹10.2

No. of Shares

0.43 Cr

ROCE

29.2%

ROE

24.1%

OPM

13.6%

Debt / Equity

0.24

Sales

₹50 Cr

Net Profit

₹4 Cr

Promoter holding

62.1%

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