Uma Exports Ltd (UMAEXPORTS)

Services · Trading · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹26.46 ↓ 49.46% (1Y)

🎯 Key Takeaways

Uma Exports Ltd is in a strategic transition phase, shifting from a traditional trading model toward diversified revenue streams through new ventures like the URJAHAAR FOODS joint venture, while simultaneously executing a capital raise via warrants to fund expansion. The company remains small in scale with volatile profitability, as evidenced by declining net profits and negative operating margins in recent quarters.
Revenue declined 21% QoQ to ₹208 in Q1FY27.
⚠️ 1) Persistent margin compression despite revenue growth, with operating margins turning negative in multiple quarters and net profit declining YoY, in

Market Cap

₹89

P/E Ratio

1323.0

P/B Ratio

0.46

ROE

0.1%

ROCE

7.6%

Debt/Equity

1.09

Promoter

70.9%

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📖 The Story

Uma Exports Ltd is in a strategic transition phase, shifting from a traditional trading model toward diversified revenue streams through new ventures like the URJAHAAR FOODS joint venture, while simultaneously executing a capital raise via warrants to fund expansion. The company remains small in scale with volatile profitability, as evidenced by declining net profits and negative operating margins in recent quarters. Its narrative is currently defined by structural repositioning rather than operational scale or profitability growth.

📰 What's Happening

In Q4 FY2026, the company reported audited standalone revenue of ₹152,761.74 lakhs, up from ₹167,561.70 lakhs YoY, but net profit declined slightly to ₹67.45 lakhs from ₹71.80 lakhs. The board approved a preferential issue of 2.25 million warrants at ₹24.16 each to raise ₹54.36 crore, increasing authorized share capital to ₹57 crore, and scheduled the AGM for September 18, 2026. Additionally, it entered a 49% joint venture named URJAHAAR FOODS with Kota Dall Mill to manufacture fortified nutrition products, contributing up to ₹49 lakhs in capital. The board also reappointed four directors, including MD Rakhesh Khemka and CFO Manmohan Saraf, subject to shareholder approval.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	300	405	560	264	208
Operating Profit	6	2	5	16	1
OPM %	1.9%	0.5%	0.9%	6.1%	0.7%
Net Profit	0	-1	1	0	-0
EPS	₹0.13	₹-0.37	₹0.38	₹0.11	₹-0.10

The company's financial trajectory shows revenue volatility with no consistent growth trend — Q4 FY2026 revenue of ₹152,761.74 lakhs is lower than Q4 FY2025's ₹167,561.70 lakhs, and quarterly operating margins have been erratic, ranging from 0.5% to 6.1% over the past eight quarters. Net profit has declined YoY and turned negative in some quarters, including Jun 2026 and Sep 2025, despite occasional profitability spikes like ₹1.11 crore in Dec 2025. This suggests that revenue growth is not translating into sustainable margins, likely due to pricing pressure, cost inflation, or operational inefficiencies, which management has not yet addressed definitively.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue, margins, or profitability in the latest filings, but actions indicate a focus on strategic expansion through capital infusion and new business lines. The board has approved a ₹54.36 crore capital raise via warrants and a ₹49 lakh investment in a joint venture, signaling intent to scale non-trading operations. The AGM scheduled for September 18, 2026 will likely be the platform for further updates on execution timelines and capital allocation plans.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	34	34	34	34
Reserves	163	160	160	163
Borrowings	112	212	187	142
Total Liabilities	342	460	432	385
Fixed Assets	24	22	24	39
Investments	2	4	1	1
Total Assets	342	460	432	385

The balance sheet shows a stable equity base of ₹34 crore with reserves growing slightly to ₹163 crore from ₹160 crore, but total borrowings remain elevated at ₹142 crore as of March 2026, down from ₹187 crore previously. Total assets have declined from ₹460 crore to ₹385 crore, indicating asset reduction or reclassification. The capital raise via warrants is expected to improve the debt-equity profile, but current leverage remains high at D/E of 1.09, suggesting ongoing financial risk despite modest deleveraging trends.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	-38
Investing	-10
Financing	+78
Net Cash Flow	+30

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	72.5%	72.5%	72.5%	70.9%
FII	0.0%	0.0%	0.0%	0.0%
DII	0.0%	0.0%	0.0%	0.0%
Public	22.2%	22.2%	22.4%	23.5%
# Shareholders	23,181	23,181	22,858	22,803

Promoter holding has slightly increased to 72.51% in Q4 FY26 from 70.9% in Q1FY27, indicating no dilution concerns yet, but FII and DII holdings remain at 0%, reflecting limited institutional interest. The public shareholding has declined marginally to 22.4% from 22.2% in earlier quarters, though the number of shareholders has grown slightly, suggesting retail dispersion without significant foreign or domestic institutional accumulation.

⚖️ Peer Comparison — Trading

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
ADANIENT	3.95 L Cr	45.3	10.9%	9.1%	1.09
PREMIERENE	46,303	27.4	50.0%	59.3%	0.67
AEGISLOG	44,419	35.5	24.6%	24.4%	0.40
REDINGTON	28,003	16.5	18.4%	14.8%	0.26
HONASA	15,677	62.9	28.3%	21.1%	0.00
504346	11,409	—	-24.9%	-47.5%	0.73
LLOYDSENT	11,031	36.0	7.0%	5.7%	0.17
SGMART	10,131	81.4	11.2%	7.8%	0.14
MMTC	9,345	20.9	42.4%	26.3%	0.00
EBGNG	6,975	49.5	31.3%	62.9%	1.92

🔗 Peer Stock Analyses

ADANIENT PREMIERENE AEGISLOG REDINGTON HONASA

⚠️ Risk Factors

1) Persistent margin compression despite revenue growth, with operating margins turning negative in multiple quarters and net profit declining YoY, indicating operational headwinds. 2) High debt levels (D/E of 1.09) and reliance on short-term borrowings, which could constrain flexibility amid weak cash flow generation (OCF of -₹38 crore in Mar 2025). 3) The capital raise via warrants may dilute existing shareholders, and the success of the URJAHAAR FOODS JV remains uncertain with no immediate revenue contribution expected. 4) Lack of transparent forward guidance from management on profitability timelines or margin improvement plans introduces execution risk.

📋 Recent Filings

🧠 Analyst's Read

Uma Exports is undergoing a strategic pivot with limited near-term financial upside, making it a speculative play rather than a fundamentally improving business. Investors should monitor execution of the URJAHAAR FOODS JV, clarity on capital deployment, and any improvement in operating margins in upcoming quarters — key indicators of whether the transition is value-accretive or merely cosmetic.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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