Healthy Life Agritec Ltd delivered a sharp year-over-year revenue uplift in QQ1 2024, powered by higher volumes in its dairy and poultry product mix across Maharashtra and Karnataka. Reported revenue of INR 463,152,500 for the quarter translates to approximately INR 46.32 crore, up 129.8% from QQ1 2023. Despite the strong top-line growth, the company’s gross margin remained thin at 4.83%, with gross profit of INR 22,377,500 and EBITDA of INR 14,449,000 (EBITDA margin of ~3.12%). Net income for the quarter rose to INR 10,404,500, delivering a net margin of approximately 2.25% and EPS of INR 0.16. The quarter also displayed working capital intensity, evidenced by substantial increases in accounts receivable and a negative operating cash flow of INR 5.67 crore, partially offset by financing activities that added INR 6.74 crore.