Hoac Foods India Ltd: Can ‘Hariom Atta’ Spice Up the FMCG Table or Is It Just Rolling in Dough?

1. At a Glance

A tiny ₹113 crore FMCG upstart making chakki atta, pulses, spices, and mustard oil under the brand ‘HARIOM’—Hoac Foods is grinding hard and selling spicy dreams in Delhi-NCR. With 34% ROE, 69% sales growth, and a P/E of 45, this stock smells like masala and premium pricing.

2. Introduction with Hook

If Patanjali and MDH had a startup baby in Delhi’s backyard, it would look like Hoac Foods. Think flour mills, turmeric dust, and yellow mustard oil flowing like champagne at an Ambani wedding.

• Revenue grew from ₹15.6 Cr in FY24 to ₹26.5 Cr in FY25—up 69%.
• Net profit 2.5x-ed in one year from ₹1.02 Cr to ₹2.5 Cr.
• ROCE = 37%, ROE = 34%, but debtor days = 116. Oops.

The company may be tiny, but it’s swinging for the big leagues with exports, QIPs, and mustard ambitions.

3. Business Model (WTF Do They Even Do?)

Hoac Foods is your neighborhood kirana store’s best friend. Here’s their simple but spicy formula:

• Core Products: Chakki Atta, Mustard Oil, Dal, Spices, Grains.
• Brand: All sold under “Hariom” through exclusive brand outlets in Delhi-NCR.
• New Moves: Recently began exporting ₹1